Seals; Mechanical Price in Greece - 2023

Seals; Mechanical Price in Greece (CIF) - 2022

In 2022, the average seals; mechanical import price amounted to $4 per unit, which is down by -17% against the previous year. Over the period under review, the import price, however, posted a measured increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 95%. The import price peaked at $4.8 per unit in 2021, and then declined markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($16 per unit), while the price for Poland ($0.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Price in Greece (FOB) - 2022

The average seals; mechanical export price stood at $11 per unit in 2022, surging by 14% against the previous year. In general, the export price saw buoyant growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 118% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($59 per unit), while the average price for exports to Bulgaria ($0.6 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 Panama (+36.8%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Imports in Greece

For the fourth consecutive year, Greece recorded growth in overseas purchases of seals; mechanicals, which increased by 1.4% to 1.2M units in 2022. The total import volume increased at an average annual rate of +11.6% 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 30%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, seals; mechanical imports dropped dramatically to $4.7M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +9.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.3% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 48%. As a result, imports attained the peak of $5.6M, and then plummeted in the following year.

Import of Seals; Mechanical in Greece (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Italy	1,419	1,777	2,118	2,208	15.9%
Germany	811	714	1,016	758	-2.2%
China	376	382	498	416	3.4%
United Kingdom	444	213	786	337	-8.8%
France	109	119	155	237	29.6%
South Korea	13.2	18.9	0.1	60.9	66.5%
Bulgaria	6.7	8.0	1.7	42.3	84.8%
Poland	30.2	20.3	27.7	16.9	-17.6%
Others	372	512	982	625	18.9%
Total	3,581	3,763	5,585	4,702	9.5%

Top Suppliers of Seals; Mechanical to Greece in 2022:

Germany (351.6K units)
Italy (318.4K units)
China (193.8K units)
France (109.7K units)
South Korea (38.3K units)
Bulgaria (33.5K units)
United Kingdom (21.5K units)
Poland (21.3K units)

Seals; Mechanical Exports in Greece

In 2022, shipments abroad of seals; mechanicals decreased by -14.8% to 75K units for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +17.5% 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 +62.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38%. As a result, the exports reached the peak of 88K units, and then contracted in the following year.

In value terms, seals; mechanical exports contracted modestly to $836K in 2022. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2021 with an increase of 201% against the previous year. As a result, the exports reached the peak of $861K, and then shrank in the following year.

Export of Seals; Mechanical in Greece (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Kingdom	N/A	N/A	549	521	-5.1%
Spain	N/A	1.8	N/A	51.4	434.4%
Panama	1.0	11.1	3.7	39.4	240.3%
United Arab Emirates	1.1	1.0	0.4	32.0	207.6%
China	2.4	4.5	7.0	25.5	119.8%
Cyprus	44.4	61.5	41.1	20.8	-22.3%
Liberia	5.9	9.9	5.3	20.2	50.7%
Singapore	13.6	16.9	19.6	17.3	8.4%
Turkey	7.0	6.1	5.2	13.0	22.9%
United States	7.2	5.8	12.7	8.5	5.7%
Malta	6.1	10.9	36.5	4.4	-10.3%
Bulgaria	4.6	5.2	4.1	3.1	-12.3%
Marshall Islands	9.1	13.1	11.1	2.8	-32.5%
Others	133	138	165	76.4	-16.9%
Total	236	286	861	836	52.4%