Pakistan: Working Wire Machine Market 2022

Working Wire Machine Market Size in Pakistan

In 2021, the Pakistani working wire machine market was finally on the rise to reach $X after two years of decline. In general, consumption, however, recorded a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Working Wire Machine Exports

Exports from Pakistan

In 2020, the amount of machines for working wire exported from Pakistan contracted rapidly to X units, declining by -50% compared with 2019. Over the period under review, exports faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 375% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2020, the growth of the exports remained at a somewhat lower figure.

In value terms, working wire machine exports fell rapidly to $X in 2020. In general, exports faced a dramatic descent. The most prominent rate of growth was recorded in 2019 when exports increased by 1,035%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2020, the exports failed to regain momentum.

Exports by Country

France (X units) was the main destination for working wire machine exports from Pakistan, with a approx. 100% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to France was relatively modest.

In value terms, Italy ($X) remains the key foreign market for working wire machine exports from Pakistan, comprising 76% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 14% share of total exports. It was followed by Oman, with a 9.5% share.

From 2012 to 2020, the average annual rate of growth in terms of value to Italy stood at -18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-56.2% per year) and Oman (-44.1% per year).

Export Prices by Country

In 2020, the average working wire machine export price amounted to $X per unit, shrinking by -97.4% against the previous year. In general, the export price continues to indicate a sharp setback. The pace of growth appeared the most rapid in 2019 an increase of 561%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2020, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was Italy ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (+1,087.4%), while the prices for the other major destinations experienced more modest paces of growth.

Working Wire Machine Imports

Imports into Pakistan

In 2021, purchases abroad of machines for working wire decreased by -36.7% to X units, falling for the third consecutive year after two years of growth. Overall, imports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 159%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, working wire machine imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 178%. Over the period under review, imports hit record highs at $X in 2018; afterwards, it flattened through to 2021.

Imports by Country

In 2021, China (X units) was the main working wire machine supplier to Pakistan, accounting for a 92% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +26.7%.

In value terms, China ($X) constituted the largest supplier of working wire machine to Pakistan, comprising 95% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 3.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +48.3%.

Import Prices by Country

In 2021, the average working wire machine import price amounted to $X per unit, surging by 171% against the previous year. Over the period under review, the import price showed a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was China ($X per unit), while the price for Taiwan (Chinese) totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :