Seals; Mechanical Price in Norway - 2023

Seals; Mechanical Price in Norway (CIF) - 2022

The average seals; mechanical import price stood at $9.3 per unit in 2022, picking up by 1.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2014 when the average import price increased by 19% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($19 per unit), while the price for Hungary ($2.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Price in Norway (FOB) - 2023

In September 2023, the average seals; mechanical export price amounted to $12.3 per unit, reducing by -4.6% against the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 an increase of 49% against the previous month. Over the period under review, the average export prices hit record highs at $18.4 per unit in November 2022; however, from December 2022 to September 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In September 2023, the country with the highest price was the UK ($39.6 per unit), while the average price for exports to Denmark ($5.0 per unit) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+22.6%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Imports in Norway

In 2022, the amount of seals; mechanicals imported into Norway skyrocketed to 3.1M units, rising by 25% against the previous year's figure. Over the period under review, imports, however, saw a perceptible setback. Over the period under review, imports attained the maximum at 3.4M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, seals; mechanical imports soared to $29M in 2022. The total import value increased at an average annual rate of +6.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Seals; Mechanical in Norway (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	9.1	7.1	9.6	9.9	2.8%
United Kingdom	5.1	3.8	3.8	5.5	2.5%
United States	3.7	3.3	2.2	3.6	-0.9%
Sweden	1.2	0.7	1.3	1.7	12.3%
Spain	0.1	0.5	0.9	1.7	157.1%
Belgium	0.1	N/A	0.2	1.4	141.0%
Italy	0.5	0.6	0.8	0.9	21.6%
China	0.3	0.7	0.6	0.9	44.2%
France	0.7	0.6	0.7	0.6	-5.0%
Japan	0.2	0.2	0.3	0.6	44.2%
Turkey	N/A	N/A	N/A	0.4	0%
Austria	0.3	0.5	0.4	0.4	10.1%
Hungary	0.1	N/A	N/A	0.2	26.0%
Others	2.8	1.3	2.1	1.5	-18.8%
Total	24.2	19.4	23.0	29.2	6.5%

Top Suppliers of Seals; Mechanical to Norway in 2022:

Germany (855.6K units)
United Kingdom (494.5K units)
United States (426.5K units)
Spain (369.1K units)
Sweden (133.2K units)
China (114.7K units)
Turkey (109.7K units)
Italy (96.9K units)
Belgium (73.1K units)
Austria (72.6K units)
Japan (71.8K units)
Hungary (63.2K units)
France (56.5K units)

Seals; Mechanical Exports in Norway

In 2022, after two years of decline, there was significant growth in overseas shipments of seals; mechanicals, when their volume increased by 62% to 919K units. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +9.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, seals; mechanical exports skyrocketed to $11M in 2022. Overall, total exports indicated a resilient 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 +61.8% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Seals; Mechanical in Norway (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Netherlands	657	651	894	1,243	23.7%
Brazil	944	452	638	1,116	5.7%
Singapore	298	255	877	1,011	50.3%
United Kingdom	539	704	432	749	11.6%
Germany	334	376	1,088	736	30.1%
Denmark	231	185	157	734	47.0%
Malaysia	1,219	109	54.3	680	-17.7%
China	34.3	725	217	585	157.4%
United States	467	599	438	434	-2.4%
France	33.9	93.3	64.9	343	116.3%
Mozambique	N/A	0.3	N/A	141	2067.9%
United Arab Emirates	4.6	6.1	9.5	113	190.7%
Sweden	117	45.0	47.9	100	-5.1%
Others	2,622	2,453	1,809	2,780	2.0%
Total	7,499	6,653	6,727	10,766	12.8%