Seals; Mechanical Price in Japan - 2023

Seals; Mechanical Price in Japan (FOB) - 2023

The average seals; mechanical export price stood at $6.4 per unit in September 2023, surging by 29% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in January 2023 an increase of 43% m-o-m. As a result, the export price reached the peak level of $7.6 per unit. From February 2023 to September 2023, the the average export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was India ($15.7 per unit), while the average price for exports to China ($3.1 per unit) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Price in Japan (CIF) - 2023

In September 2023, the average seals; mechanical import price amounted to $8.5 per unit, increasing by 26% against the previous month. In general, import price indicated slight growth from September 2022 to September 2023: its price increased at an average monthly rate of +1.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, seals; mechanical import price increased by +26.2% against August 2023 indices. The pace of growth was the most pronounced in June 2023 when the average import price increased by 64% month-to-month. As a result, import price reached the peak level of $10.9 per unit. From July 2023 to September 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($44.2 per unit), while the price for South Korea ($893 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 Vietnam (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Exports in Japan

In 2022, exports of seals; mechanicals from Japan stood at 23M units, stabilizing at the year before. Overall, exports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2021 when exports increased by 8.3% against the previous year. The exports peaked at 28M units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, seals; mechanical exports shrank to $139M in 2022. In general, exports, however, continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2021 with an increase of 5.1%. The exports peaked at $160M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Export of Seals; Mechanical in Japan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	32.6	31.6	32.8	27.5	-5.5%
United States	20.1	15.1	20.5	17.4	-4.7%
South Korea	14.5	13.3	12.8	12.7	-4.3%
Netherlands	3.9	3.6	3.5	8.7	30.7%
Singapore	9.1	8.4	7.3	7.0	-8.4%
Thailand	8.2	5.4	7.0	6.1	-9.4%
Taiwan (Chinese)	4.1	5.7	5.3	5.9	12.9%
India	4.0	4.4	6.1	5.7	12.5%
Indonesia	5.0	4.6	4.5	4.5	-3.5%
Others	58.8	47.6	46.9	43.2	-9.8%
Total	160	140	147	139	-4.6%

Top Export Markets for Seals; Mechanical from Japan in 2022:

China (9.6M units)
United States (3.5M units)
South Korea (2.8M units)
Thailand (1.3M units)
Netherlands (0.8M units)
Singapore (0.6M units)
India (0.6M units)
Taiwan (Chinese) (0.5M units)
Indonesia (0.5M units)

Seals; Mechanical Imports in Japan

Seals; mechanical imports into Japan expanded remarkably to 15M units in 2022, picking up by 5.8% against 2021. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +12.1% 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 +50.3% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 42% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, seals; mechanical imports soared to $91M in 2022. The total import value increased at an average annual rate of +6.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Seals; Mechanical in Japan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	28.3	35.5	19.4	26.8	-1.8%
Germany	8.0	7.3	9.5	17.3	29.3%
China	7.3	5.7	6.9	10.5	12.9%
South Korea	5.5	5.1	8.4	7.8	12.4%
Taiwan (Chinese)	6.9	5.7	5.5	6.1	-4.0%
Czech Republic	2.9	3.0	2.4	3.2	3.3%
United Kingdom	3.1	2.4	2.7	2.7	-4.5%
Vietnam	0.7	0.8	1.1	1.2	19.7%
Denmark	2.0	1.6	1.5	1.1	-18.1%
Thailand	1.1	0.8	1.8	1.1	0.0%
Others	9.6	9.9	8.6	13.5	12.0%
Total	75.3	77.8	67.8	91.3	6.6%