Pakistan: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Pakistan

The Pakistani interchangeable tool market shrank significantly to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed perceptible growth. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Interchangeable Tool Exports

Exports from Pakistan

After three years of decline, shipments abroad of interchangeable tools for hand tools increased by X% to X tons in 2022. Overall, exports enjoyed a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, interchangeable tool exports skyrocketed to $X in 2022. In general, exports, however, saw a slight shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for interchangeable tool exports from Pakistan, accounting for a X% share of total exports. Moreover, interchangeable tool exports to the United Arab Emirates exceeded the volume sent to the second major destination, Oman (X tons), eightfold. Canada (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Canada (X% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for interchangeable tools for hand tools exports from Pakistan, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The average interchangeable tool export price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 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 Saudi Arabia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

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

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Interchangeable Tool Imports

Imports into Pakistan

In 2022, imports of interchangeable tools for hand tools into Pakistan dropped notably to X tons, waning by X% compared with the previous year. Overall, imports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, interchangeable tool imports dropped markedly to $X in 2022. Over the period under review, imports, however, showed pronounced growth. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of interchangeable tool to Pakistan, with a X% share of total imports. Moreover, interchangeable tool imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Japan (X% per year).

In value terms, the largest interchangeable tool suppliers to Pakistan were China ($X), the United States ($X) and the UK ($X), with a combined X% share of total imports.

In terms of the main suppliers, China, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average interchangeable tool import price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the import price, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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