Pumps; Parts Thereof Price in Turkey - 2023

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

The average pumps; parts thereof import price stood at $15,757 per ton in July 2023, falling by -3.1% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.8%. The pace of growth appeared the most rapid in December 2022 an increase of 20% against the previous month. As a result, import price attained the peak level of $16,354 per ton. From January 2023 to July 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($70,007 per ton), while the price for Romania ($3,677 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the United States (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In July 2023, the average pumps; parts thereof export price amounted to $8,973 per ton, picking up by 13% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In July 2023, the country with the highest price was Kazakhstan ($40,105 per ton), while the average price for exports to Poland ($2,047 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Pumps; Parts Thereof Imports in Turkey

In 2022, the amount of pumps; parts thereoves imported into Turkey skyrocketed to 17K tons, growing by 22% on the year before. In general, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +17.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.1% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 37% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, pumps; parts thereof imports rose significantly to $214M in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +11.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.2% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 30%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Pumps; Parts Thereof in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	61.9	63.6	79.3	87.5	12.2%
China	7.7	11.2	17.0	28.6	54.9%
Italy	9.2	9.9	11.1	10.1	3.2%
United Kingdom	4.4	3.8	13.1	10.1	31.9%
India	5.4	4.1	8.7	9.9	22.4%
South Korea	11.0	8.0	9.4	9.4	-5.1%
Canada	6.7	5.2	6.2	6.1	-3.1%
Others	48.5	45.9	52.3	52.4	2.6%
Total	155	152	197	214	11.4%

Top Suppliers of Pumps; Parts Thereof to Turkey in 2022:

Germany (8.3K tons)
China (3.4K tons)
India (0.9K tons)
South Korea (0.8K tons)
Italy (0.5K tons)
Canada (0.4K tons)
United Kingdom (0.4K tons)

Pumps; Parts Thereof Exports in Turkey

In 2022, the amount of pumps; parts thereoves exported from Turkey amounted to 35K tons, with an increase of 9.2% on the previous year. In general, total exports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +9.7% 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 +51.0% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 38% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, pumps; parts thereof exports expanded notably to $225M in 2022. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +12.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 41% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Export of Pumps; Parts Thereof in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	72.6	62.4	89.5	94.1	9.0%
United States	13.8	12.6	16.0	15.2	3.3%
Bulgaria	3.3	2.8	6.5	11.6	52.0%
France	7.0	6.5	9.6	10.1	13.0%
Poland	3.7	3.4	5.0	6.5	20.7%
China	5.6	3.1	4.6	6.3	4.0%
Italy	3.3	3.0	5.1	6.0	22.1%
Russia	0.8	0.9	1.3	5.6	91.3%
Brazil	1.5	1.2	1.9	2.7	21.6%
Iraq	1.4	1.8	1.9	2.4	19.7%
Czech Republic	0.8	0.5	1.5	2.4	44.2%
Romania	0.8	1.5	2.4	2.3	42.2%
Sweden	0.7	0.8	1.0	1.4	26.0%
Others	41.8	38.9	50.2	58.5	11.9%
Total	157	139	197	225	12.7%