Cyprus: Motor Market 2020

Motor Market Size in Cyprus

The revenue of the motor market in Cyprus amounted to $X in 2018, going down by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, motor consumption continues to indicate a drastic deduction. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Cyprus motor consumption peaked at $X in 2007; however, from 2008 to 2018, consumption stood at a somewhat lower figure.

Motor Exports

Exports from Cyprus

Motor exports from Cyprus totaled X units in 2018, growing by X% against the previous year. Overall, motor exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2011 when exports increased by X% y-o-y. Cyprus exports peaked at X units in 2013; however, from 2014 to 2018, exports remained at a lower figure.

In value terms, motor exports stood at $X in 2018. In general, motor exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, motor exports attained their maximum at $X in 2012; however, from 2013 to 2018, exports failed to regain their momentum.

Exports by Country

In 2018, China (X units), distantly followed by Germany (X units), Thailand (X units), Switzerland (X units), Vietnam (X units) and Mexico (X units) represented the major exporters of motors of an output not exceeding X w; other dc motors and dc generators, together achieving X% of total exports. The following exporters - Italy (X units), Japan (X units), South Korea (X units), Taiwan, Chinese (X units), Serbia (X units) and the U.S. (X units) - together made up X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Serbia, while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest motor supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Germany ($X), with a X% share of global exports. It was followed by Mexico, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in China amounted to +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+X% per year) and Mexico (+X% per year).

Export Prices by Country

The motor export price in Cyprus stood at $X per unit in 2018, waning by -X% against the previous year. Over the period under review, the motor export price continues to indicate an abrupt shrinkage. The pace of growth appeared the most rapid in 2014 an increase of X% year-to-year. Cyprus export price peaked at $X per unit in 2010; however, from 2011 to 2018, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per unit), while Serbia ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Motor Imports

Imports into Cyprus

In 2018, the amount of motors of an output not exceeding X w; other dc motors and dc generators imported into Cyprus totaled X units, going up by X% against the previous year. Overall, motor imports continue to indicate skyrocketing growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% year-to-year. In that year, motor imports attained their peak and are likely to continue its growth in the immediate term.

In value terms, motor imports totaled $X in 2018. In general, motor imports continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. Cyprus imports peaked in 2018 and are expected to retain its growth in the near future.

Imports by Country

The countries with the highest levels of motor imports in 2018 were China (X units), the U.S. (X units) and Germany (X units), together amounting to X% of total import. Mexico (X units) occupied the next position in the ranking, followed by the Czech Republic (X units). All these countries together took approx. X% share of total imports. Japan (X units), China, Hong Kong SAR (X units), Thailand (X units), Malaysia (X units), Italy (X units), Poland (X units) and Brazil (X units) held a minor share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Cyprus, while the other leaders experienced more modest paces of growth.

In value terms, the largest motor importing markets into Cyprus were the U.S. ($X), Germany ($X) and Mexico ($X), with a combined X% share of total imports.

Mexico recorded the highest rates of growth with regard to imports, in terms of the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The motor import price in Cyprus stood at $X per unit in 2018, reducing by -X% against the previous year. Overall, the motor import price continues to indicate a drastic shrinkage. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Cyprus import price peaked at $X per unit in 2008; however, from 2009 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was the U.S. ($X per unit), while China ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform