Seals; Mechanical Price in Nepal - 2022

Seals; Mechanical Price in Nepal (CIF) - 2022

The average seals; mechanical import price stood at $40 per unit in 2022, picking up by 17% against the previous year. Overall, the import price continues to indicate a notable increase. The growth pace was the most rapid in 2021 an increase of 76%. The import price peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($52 per unit), while the price for India totaled $38 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.2%).

Seals; Mechanical Imports in Nepal

In 2022, the amount of seals; mechanicals imported into Nepal skyrocketed to 13K units, rising by 25% against 2021 figures. The total import volume increased at an average annual rate of +12.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 31%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, seals; mechanical imports soared to $530K in 2022. In general, imports saw significant growth. The growth pace was the most rapid in 2021 when imports increased by 53% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.