Price for Tools, Hand; Other than Household Tools in the United States - 2023
Contents:
- Price for Tools, Hand; Other than Household Tools in the United States (CIF) - 2023
- Price for Tools, Hand; Other than Household Tools in the United States (FOB) - 2022
- Imports of Tools, Hand; Other than Household Tools in the United States
- Exports of Tools, Hand; Other than Household Tools in the United States
Price for Tools, Hand; Other than Household Tools in the United States (CIF) - 2023
In November 2023, the average import price for tools, hand; other than household toolses amounted to $8,891 per ton, increasing by 9% against the previous month. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in February 2023 when the average import price increased by 9.9% month-to-month. The import price peaked at $9,176 per ton in March 2023; however, from April 2023 to November 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Mexico ($14,828 per ton), while the price for Vietnam ($4,999 per ton) was amongst the lowest.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by India (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Tools, Hand; Other than Household Tools in the United States (FOB) - 2022
In 2022, the average export price for tools, hand; other than household toolses amounted to $50,525 per ton, rising by 38% against the previous year. In general, the export price saw a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($97,667 per ton), while the average price for exports to Mexico ($21,780 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+23.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Tools, Hand; Other than Household Tools in the United States
For the fourth year in a row, the United States recorded growth in overseas purchases of tools, hand; other than household toolses, which increased by 32% to 97K tons in 2022. Over the period under review, imports showed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 36% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the near future.
In value terms, imports of tools, hand; other than household toolses rose remarkably to $741M in 2022. The total import value increased at an average annual rate of +10.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 24%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Tools, Hand; Other than Household Tools in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 216 | 212 | 262 | 267 | 7.3% |
| Taiwan (Chinese) | 130 | 136 | 183 | 220 | 19.2% |
| India | 24.7 | 21.3 | 30.5 | 37.8 | 15.2% |
| Mexico | 42.0 | 47.1 | 40.4 | 36.3 | -4.7% |
| Germany | 23.2 | 18.9 | 22.1 | 24.8 | 2.2% |
| Vietnam | 1.8 | 4.1 | 6.8 | 12.0 | 88.2% |
| Others | 118 | 100 | 123 | 143 | 6.6% |
| Total | 555 | 539 | 668 | 741 | 10.1% |
Top Suppliers of Tools, Hand; Other than Household Tools to the United States in 2022:
- China (60.0K tons)
- Taiwan (Chinese) (16.2K tons)
- India (7.8K tons)
- Mexico (3.9K tons)
- Vietnam (3.2K tons)
- Germany (1.2K tons)
Exports of Tools, Hand; Other than Household Tools in the United States
In 2022, the amount of tools, hand; other than household toolses exported from the United States contracted rapidly to 6.8K tons, waning by -20.5% compared with the previous year's figure. Over the period under review, exports recorded a deep downturn. The pace of growth was the most pronounced in 2021 when exports increased by 12%.
In value terms, exports of tools, hand; other than household toolses expanded sharply to $345M in 2022. Overall, exports showed a mild downturn.
| Export of Tools, Hand; Other than Household Tools in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 87.9 | 81.0 | 92.5 | 101 | 4.7% |
| Mexico | 29.0 | 30.9 | 30.9 | 33.3 | 4.7% |
| United Kingdom | 23.7 | 19.6 | 25.6 | 25.3 | 2.2% |
| Australia | 13.6 | 15.2 | 14.8 | 16.8 | 7.3% |
| Germany | 15.4 | 15.7 | 15.8 | 15.0 | -0.9% |
| China | 12.4 | 9.4 | 11.1 | 12.1 | -0.8% |
| Japan | 13.2 | 8.9 | 9.7 | 9.6 | -10.1% |
| Belgium | 6.9 | 5.8 | 6.9 | 7.7 | 3.7% |
| France | 13.6 | 7.7 | 5.9 | 7.5 | -18.0% |
| Singapore | 4.9 | 3.9 | 2.8 | 4.9 | 0.0% |
| Brazil | 4.4 | 3.1 | 3.5 | 4.5 | 0.8% |
| South Korea | 5.3 | 3.3 | 5.1 | 3.7 | -11.3% |
| Costa Rica | 2.8 | 2.7 | 3.7 | 3.3 | 5.6% |
| Others | 126 | 81.7 | 87.1 | 99.9 | -7.4% |
| Total | 359 | 289 | 315 | 345 | -1.3% |
Top Export Markets for Tools, Hand; Other than Household Tools from the United States in 2022:
- Mexico (1527.5 tons)
- Canada (1034.0 tons)
- United Kingdom (626.5 tons)
- Germany (353.5 tons)
- China (344.9 tons)
- Japan (316.7 tons)
- Australia (247.1 tons)
- Belgium (245.2 tons)
- Brazil (204.6 tons)
- Singapore (153.1 tons)
- Costa Rica (135.2 tons)
- France (129.1 tons)
- South Korea (121.5 tons)
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