Seals; Mechanical Price in Indonesia - 2022

Seals; Mechanical Price in Indonesia (CIF) - 2022

In March 2022, the average seals; mechanical import price amounted to $1.5 per unit, reducing by -10.8% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2021 when the average import price increased by 23% m-o-m. Over the period under review, average import prices hit record highs at $1.7 per unit in February 2022, and then declined in the following month.

There were significant differences in the average prices amongst the major supplying countries. In March 2022, the country with the highest price was India ($4.7 per unit), while the price for China ($700 per thousand units) was amongst the lowest.

From March 2021 to March 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Price in Indonesia (FOB) - 2022

The average seals; mechanical export price stood at $1.1 per unit in March 2022, rising by 18% against the previous month. Overall, export price indicated a slight increase from March 2021 to March 2022: its price increased at an average monthly rate of +1.3% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on March 2022 figures, seals; mechanical export price increased by +18.3% against February 2022 indices. The most prominent rate of growth was recorded in November 2021 an increase of 162% month-to-month. Over the period under review, the average export prices hit record highs in March 2022.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($1.4 per unit), while the average price for exports to Saudi Arabia ($706 per thousand units) was amongst the lowest.

From March 2021 to March 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Imports in Indonesia

In 2022, the amount of seals; mechanicals imported into Indonesia skyrocketed to 71M units, surging by 58% compared with 2021 figures. Overall, total imports indicated a buoyant increase from 2019 to 2022: its volume 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, imports increased by +69.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, seals; mechanical imports soared to $95M 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 +17.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.0% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Seals; Mechanical in Indonesia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Singapore	8.4	7.9	7.1	19.3	32.0%
China	7.3	6.6	7.3	17.6	34.1%
Japan	12.3	10.5	14.6	11.3	-2.8%
Germany	3.8	4.3	3.6	7.4	24.9%
South Korea	3.9	2.2	2.7	7.3	23.2%
United States	10.8	9.4	11.3	6.6	-15.1%
India	1.3	1.5	1.9	3.9	44.2%
Taiwan (Chinese)	0.6	0.5	0.7	1.7	41.5%
Sweden	0.3	0.4	0.5	1.3	63.0%
Malaysia	0.4	0.7	0.4	1.2	44.2%
Thailand	0.3	0.2	0.3	0.7	32.6%
Others	10.1	9.7	12.4	17.3	19.6%
Total	59.6	53.9	62.7	95.5	17.0%

Top Suppliers of Seals; Mechanical to Indonesia in 2022:

Singapore (21.8M units)
China (15.4M units)
Japan (9.8M units)
South Korea (5.5M units)
United States (2.7M units)
Taiwan (Chinese) (2.4M units)
Malaysia (1.8M units)
Germany (1.8M units)
India (1.7M units)
Thailand (1.5M units)
Sweden (1.3M units)

Seals; Mechanical Exports in Indonesia

In 2022, after three years of growth, there was significant decline in overseas shipments of seals; mechanicals, when their volume decreased by -7.1% to 40M units. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 77%. As a result, the exports attained the peak of 43M units, and then dropped in the following year.

In value terms, seals; mechanical exports fell modestly to $35M in 2022. In general, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +9.2% 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 +47.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 50%. As a result, the exports reached the peak of $36M, and then dropped in the following year.

Export of Seals; Mechanical in Indonesia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Singapore	9.6	12.5	25.8	27.5	42.0%
Japan	4.0	3.9	4.1	4.0	0.0%
Thailand	1.0	0.4	0.7	0.8	-7.2%
United States	5.4	3.1	1.9	0.2	-66.7%
Germany	4.4	2.2	0.8	0.1	-71.7%
Others	2.5	1.6	2.4	2.4	-1.4%
Total	26.9	23.8	35.7	35.1	9.3%