Seals; Mechanical Price in South Africa - 2023

Seals; Mechanical Price in South Africa (CIF) - 2023

The average seals; mechanical import price stood at $3.2 per unit in September 2023, rising by 26% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in April 2023 an increase of 65% month-to-month. The import price peaked in September 2023.

Prices varied noticeably by the country of origin: the country with the highest price was the Czech Republic ($9.3 per unit), while the price for India ($489 per thousand units) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Sweden (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Price in South Africa (FOB) - 2022

The average seals; mechanical export price stood at $4.4 per unit in 2022, rising by 2.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2017 when the average export price increased by 30%. As a result, the export price reached the peak level of $4.9 per unit. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($23 per unit), while the average price for exports to Botswana ($1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Swaziland (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Imports in South Africa

In 2022, the amount of seals; mechanicals imported into South Africa totaled 15M units, surging by 13% against the year before. The total import volume increased at an average annual rate of +3.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 19% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, seals; mechanical imports rose to $32M in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 25%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Import of Seals; Mechanical in South Africa (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Kingdom	7.1	4.0	6.2	6.2	-4.4%
Germany	6.9	6.0	5.9	6.0	-4.6%
United States	4.3	3.3	4.8	5.2	6.5%
Czech Republic	1.8	2.5	3.0	3.2	21.1%
China	2.0	1.5	2.5	3.2	17.0%
Italy	0.7	0.7	0.7	1.0	12.6%
Sweden	0.5	0.4	0.7	0.8	17.0%
Turkey	0.2	0.1	0.1	0.7	51.8%
Finland	0.1	0.4	1.3	0.7	91.3%
Thailand	0.9	0.6	0.6	0.6	-12.6%
Taiwan (Chinese)	0.6	0.5	0.5	0.4	-12.6%
India	0.2	0.2	0.2	0.2	0.0%
Vietnam	0.1	0.2	0.3	0.2	26.0%
Others	3.7	4.7	4.2	3.5	-1.8%
Total	29.2	25.0	31.1	32.0	3.1%

Top Suppliers of Seals; Mechanical to South Africa in 2022:

Thailand (3.1M units)
Germany (2.6M units)
China (2.5M units)
United States (1.6M units)
United Kingdom (0.9M units)
Turkey (0.7M units)
Czech Republic (0.6M units)
Sweden (0.6M units)
Italy (0.5M units)
Finland (0.4M units)
India (0.4M units)
Taiwan (Chinese) (0.3M units)
Vietnam (0.2M units)

Seals; Mechanical Exports in South Africa

In 2022, the amount of seals; mechanicals exported from South Africa reached 4.8M units, picking up by 5.5% against 2021 figures. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 7.6% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, seals; mechanical exports expanded markedly to $21M in 2022. The total export value increased at an average annual rate of +1.1% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 35% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Export of Seals; Mechanical in South Africa (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Angola	6.0	3.4	5.8	4.7	-7.8%
Nigeria	4.0	1.9	3.1	3.8	-1.7%
Madagascar	2.6	0.8	1.4	2.3	-4.0%
Democratic Republic of the Congo	1.0	1.5	1.8	1.7	19.3%
Zambia	1.0	1.0	1.4	1.4	11.9%
United States	0.7	0.5	0.5	1.0	12.6%
Zimbabwe	0.7	0.9	0.9	0.9	8.7%
Namibia	0.7	0.5	0.8	0.9	8.7%
Mozambique	0.5	0.7	0.7	0.9	21.6%
Botswana	0.4	0.3	0.6	0.5	7.7%
Tanzania	0.1	0.2	0.3	0.3	44.2%
Swaziland	0.1	0.7	0.2	0.3	44.2%
Mali	N/A	0.1	N/A	0.2	41.4%
Others	2.4	2.0	2.0	2.2	-2.9%
Total	20.3	14.4	19.4	21.0	1.1%