Pumps; Parts Thereof Price in China - 2023

Pumps; Parts Thereof Price in China (FOB) - 2023

The average pumps; parts thereof export price stood at $7,828 per ton in June 2023, approximately equating the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in August 2022 an increase of 6.8% against the previous month. The export price peaked at $8,188 per ton in December 2022; however, from January 2023 to June 2023, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Canada ($10,294 per ton), while the average price for exports to Ghana ($3,184 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Pumps; Parts Thereof Price in China (CIF) - 2023

The average pumps; parts thereof import price stood at $31,474 per ton in June 2023, shrinking by -16.7% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in May 2023 when the average import price increased by 25% month-to-month. As a result, import price attained the peak level of $37,803 per ton, and then reduced dramatically in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($70,363 per ton), while the price for South Africa ($5,359 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by South Korea (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Pumps; Parts Thereof Exports in China

Pumps; parts thereof exports from China rose sharply to 359K tons in 2022, with an increase of 14% against 2021 figures. The total export volume increased at an average annual rate of +7.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 22%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, pumps; parts thereof exports surged to $2.7B in 2022. In general, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +12.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 32%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Export of Pumps; Parts Thereof in China (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	570	420	560	743	9.2%
Japan	127	105	150	168	9.8%
Germany	91.6	89.6	140	146	16.8%
Italy	75.5	78.5	109	109	13.0%
Russia	54.0	53.6	58.5	104	24.4%
Indonesia	66.7	68.1	74.2	101	14.8%
Mexico	33.8	49.8	85.7	93.4	40.3%
Canada	81.3	73.4	68.6	92.6	4.4%
South Korea	54.3	42.4	60.5	74.6	11.2%
Australia	38.9	30.6	39.6	54.8	12.1%
United Arab Emirates	35.4	20.6	36.2	50.4	12.5%
Vietnam	17.5	41.9	53.0	37.3	28.7%
Others	670	645	842	970	13.1%
Total	1,915	1,719	2,277	2,743	12.7%

Top Export Markets for Pumps; Parts Thereof from China in 2022:

United States (94.8K tons)
Indonesia (26.3K tons)
Italy (18.3K tons)
Japan (18.3K tons)
Germany (17.2K tons)
South Korea (15.4K tons)
Russia (14.0K tons)
Australia (11.3K tons)
Mexico (10.1K tons)
Canada (9.9K tons)
United Arab Emirates (5.8K tons)
Vietnam (5.3K tons)

Pumps; Parts Thereof Imports in China

In 2022, approx. 30K tons of pumps; parts thereoves were imported into China; waning by -17.5% against the year before. Overall, imports recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 14%. As a result, imports attained the peak of 36K tons, and then contracted markedly in the following year.

In value terms, pumps; parts thereof imports contracted markedly to $943M in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 26% against the previous year. As a result, imports reached the peak of $1.1B, and then contracted significantly in the following year.

Import of Pumps; Parts Thereof in China (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	174	209	283	277	16.8%
Japan	171	192	210	165	-1.2%
United States	91.3	101	115	118	8.9%
Denmark	52.6	67.0	79.3	43.5	-6.1%
Italy	31.0	33.0	42.7	33.3	2.4%
South Korea	59.3	41.3	42.8	33.2	-17.6%
Austria	13.8	14.5	37.2	21.7	16.3%
France	15.0	13.2	21.4	17.6	5.5%
Vietnam	7.0	9.0	12.4	14.7	28.1%
Poland	5.2	7.1	14.1	13.0	35.7%
Romania	11.2	9.4	15.8	12.2	2.9%
India	8.9	8.5	8.9	8.3	-2.3%
Indonesia	0.9	0.9	1.2	4.0	64.4%
Others	231	179	232	182	-7.6%
Total	872	885	1,116	943	2.6%