Seals; Mechanical Price in the UK - 2023
Contents:
- Seals; Mechanical Price in the UK (FOB) - 2022
- Seals; Mechanical Price in the UK (CIF) - 2023
- Seals; Mechanical Exports in the UK
- Seals; Mechanical Imports in the UK
Seals; Mechanical Price in the UK (FOB) - 2022
The average seals; mechanical export price stood at $11 per unit in 2022, surging by 7.4% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, seals; mechanical export price increased by +1.3% against 2019 indices. The pace of growth appeared the most rapid in 2018 an increase of 40% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($17 per unit), while the average price for exports to Belgium ($4.9 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 India (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.
Seals; Mechanical Price in the UK (CIF) - 2023
The average seals; mechanical import price stood at $7.1 per unit in August 2023, with an increase of 9.4% against the previous month. Over the period under review, the import price, however, showed a abrupt setback. The most prominent rate of growth was recorded in November 2022 when the average import price increased by 169% month-to-month. The import price peaked at $14.6 per unit in August 2022; however, from September 2022 to August 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Japan ($11.3 per unit), while the price for Romania ($1.4 per unit) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Spain (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Seals; Mechanical Exports in the UK
In 2022, overseas shipments of seals; mechanicals decreased by -4% to 19M units, falling for the second consecutive year after two years of growth. In general, exports showed a noticeable decline. The pace of growth appeared the most rapid in 2020 with an increase of 1%. As a result, the exports reached the peak of 22M units. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, seals; mechanical exports reached $216M in 2022. Overall, exports saw a noticeable decrease. Over the period under review, the exports hit record highs at $236M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Seals; Mechanical in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 49.5 | 39.1 | 34.1 | 26.3 | -19.0% |
| Italy | 16.0 | 17.4 | 11.6 | 21.2 | 9.8% |
| Germany | 14.5 | 13.4 | 16.1 | 14.4 | -0.2% |
| China | 9.1 | 11.4 | 10.4 | 10.1 | 3.5% |
| Netherlands | 7.9 | 6.9 | 7.9 | 9.2 | 5.2% |
| Taiwan (Chinese) | 0.4 | 1.0 | 0.7 | 8.5 | 177.0% |
| India | 5.3 | 5.0 | 5.7 | 7.8 | 13.7% |
| Norway | 6.3 | 5.4 | 5.7 | 7.0 | 3.6% |
| Australia | 4.8 | 9.0 | 4.7 | 6.7 | 11.8% |
| United Arab Emirates | 12.2 | 12.6 | 8.3 | 5.6 | -22.9% |
| South Africa | 5.4 | 2.3 | 3.6 | 5.5 | 0.6% |
| Qatar | 9.7 | 9.4 | 8.9 | 4.2 | -24.3% |
| Belgium | 2.6 | 2.8 | 2.9 | 2.5 | -1.3% |
| Others | 91.5 | 87.7 | 89.2 | 87.4 | -1.5% |
| Total | 236 | 224 | 210 | 216 | -2.9% |
Top Export Markets for Seals; Mechanical from the UK in 2022:
- United States (3.1M units)
- Italy (1.2M units)
- China (1.1M units)
- Germany (1.0M units)
- Netherlands (0.9M units)
- Norway (0.8M units)
- Taiwan (Chinese) (0.7M units)
- United Arab Emirates (0.7M units)
- Qatar (0.6M units)
- India (0.6M units)
- South Africa (0.5M units)
- Australia (0.5M units)
- Belgium (0.5M units)
Seals; Mechanical Imports in the UK
For the third year in a row, the UK recorded decline in overseas purchases of seals; mechanicals, which decreased by -7% to 22M units in 2022. In general, imports showed a abrupt curtailment. Imports peaked at 42M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, seals; mechanical imports surged to $127M in 2022. Overall, imports recorded a abrupt downturn. Imports peaked at $173M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Seals; Mechanical in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 63.2 | 32.7 | 17.3 | 41.1 | -13.4% |
| Czech Republic | 16.1 | 18.2 | 14.8 | 20.6 | 8.6% |
| Germany | 21.3 | 18.0 | 30.5 | 19.6 | -2.7% |
| China | 11.8 | 8.8 | 6.9 | 9.3 | -7.6% |
| France | 11.2 | 8.0 | 9.6 | 6.4 | -17.0% |
| South Korea | 2.3 | 2.0 | 3.5 | 4.8 | 27.8% |
| Belgium | 2.6 | 3.4 | 3.0 | 3.8 | 13.5% |
| Italy | 4.8 | 2.8 | 3.3 | 3.2 | -12.6% |
| India | 2.5 | 1.6 | 1.7 | 2.5 | 0.0% |
| Netherlands | 8.2 | 6.7 | 4.2 | 2.3 | -34.5% |
| Sweden | 3.0 | 5.1 | 5.2 | 1.9 | -14.1% |
| Spain | 1.6 | 1.5 | 0.2 | 1.9 | 5.9% |
| Turkey | 13.2 | 4.4 | 0.1 | 1.7 | -49.5% |
| Others | 10.9 | 17.4 | 9.7 | 8.0 | -9.8% |
| Total | 173 | 131 | 110 | 127 | -9.8% |
Top Suppliers of Seals; Mechanical to the UK in 2022:
- Czech Republic (5.0M units)
- Germany (3.7M units)
- South Korea (1.9M units)
- China (1.6M units)
- France (1.4M units)
- Belgium (1.3M units)
- Italy (1.2M units)
- United States (1.1M units)
- Turkey (0.9M units)
- India (0.6M units)
- Netherlands (0.4M units)
- Sweden (0.4M units)
- Spain (0.3M units)
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