Price for Electric Motors; of an Output Not Exceeding 37.5W in Hungary - 2023
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Hungary (CIF) - 2023
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Hungary (FOB) - 2022
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Hungary
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Hungary
Price for Electric Motors; of an Output Not Exceeding 37.5W in Hungary (CIF) - 2023
In December 2023, the average import price for electric motors amounted to $3.7 per unit, waning by -48% against the previous month. Over the period under review, the import price showed a pronounced shrinkage. The growth pace was the most rapid in November 2023 an increase of 48% month-to-month. As a result, import price attained the peak level of $7.1 per unit, and then dropped sharply in the following month.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Serbia ($8.9 per unit), while the price for Japan ($868 per thousand units) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Austria (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electric Motors; of an Output Not Exceeding 37.5W in Hungary (FOB) - 2022
In 2022, the average export price for electric motors amounted to $12 per unit, surging by 6.9% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for electric motors increased by +29.6% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 55% against the previous year. Over the period under review, the average export prices reached the peak figure at $12 per unit in 2018; however, from 2019 to 2022, the 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 Switzerland ($25 per unit), while the average price for exports to Romania ($2.4 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 Switzerland (+29.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Hungary
After three years of growth, overseas purchases of electric motors decreased by -17.7% to 50M units in 2022. In general, imports recorded a mild slump. The most prominent rate of growth was recorded in 2021 with an increase of 7.7% against the previous year. As a result, imports attained the peak of 60M units, and then contracted rapidly in the following year.
In value terms, imports of electric motors declined to $246M in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 9.5% against the previous year. As a result, imports reached the peak of $262M, and then dropped in the following year.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 63.3 | 51.7 | 61.8 | 51.3 | -6.8% |
| Serbia | 15.8 | 30.8 | 37.9 | 50.3 | 47.1% |
| Germany | 54.5 | 47.1 | 51.6 | 40.8 | -9.2% |
| Austria | 27.9 | 25.2 | 29.8 | 27.3 | -0.7% |
| China | 4.9 | 11.9 | 22.2 | 19.5 | 58.5% |
| United States | 8.3 | 6.4 | 8.7 | 9.2 | 3.5% |
| Czech Republic | 6.6 | 6.8 | 3.8 | 8.0 | 6.6% |
| France | 3.5 | 6.7 | 8.4 | 6.7 | 24.2% |
| Italy | 4.8 | 4.1 | 6.0 | 6.3 | 9.5% |
| South Korea | 8.8 | 4.9 | 5.7 | 4.0 | -23.1% |
| Romania | 11.5 | 7.9 | 3.5 | 1.2 | -52.9% |
| Japan | 0.9 | 3.3 | 3.3 | 0.8 | -3.9% |
| Hong Kong SAR | 8.0 | 0.1 | 0.1 | 0.1 | -76.8% |
| Others | 25.1 | 33.0 | 19.5 | 20.4 | -6.7% |
| Total | 244 | 240 | 262 | 246 | 0.3% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Hungary in 2022:
- Germany (11.4M units)
- China (9.5M units)
- Ireland (9.0M units)
- Serbia (6.3M units)
- Austria (3.6M units)
- France (1.8M units)
- United States (1.6M units)
- Italy (1.1M units)
- South Korea (1.0M units)
- Czech Republic (0.8M units)
- Japan (0.7M units)
- Romania (0.6M units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Hungary
In 2022, shipments abroad of electric motors decreased by -23.5% to 14M units, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 33%. As a result, the exports attained the peak of 19M units. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of electric motors shrank notably to $161M in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 17%. As a result, the exports attained the peak of $198M, and then dropped sharply in the following year.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 72.9 | 59.0 | 75.8 | 70.8 | -1.0% |
| Switzerland | 25.1 | 28.9 | 43.8 | 32.2 | 8.7% |
| Czech Republic | 18.3 | 26.3 | 35.6 | 20.9 | 4.5% |
| Slovakia | 5.6 | 6.6 | 6.6 | 6.9 | 7.2% |
| Serbia | 3.5 | 3.9 | 4.4 | 4.8 | 11.1% |
| Ukraine | 0.9 | 1.4 | 3.4 | 2.2 | 34.7% |
| Romania | 2.9 | 5.7 | 5.3 | 2.0 | -11.6% |
| Mexico | 10.1 | 13.3 | 0.2 | 0.1 | -78.5% |
| Others | 25.4 | 24.0 | 22.7 | 21.5 | -5.4% |
| Total | 165 | 169 | 198 | 161 | -0.8% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Hungary in 2022:
- Germany (4.0M units)
- Czech Republic (2.7M units)
- Slovakia (2.0M units)
- Switzerland (1.3M units)
- Ukraine (0.9M units)
- Romania (0.8M units)
- Serbia (0.5M units)
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