Price for Machines; Parts and Accessories, of Heading No. 8472 in Saudi Arabia - 2022

Contents:

1. Price for Machines; Parts and Accessories, of Heading No. 8472 in Saudi Arabia (FOB) - 2022
2. Price for Machines; Parts and Accessories, of Heading No. 8472 in Saudi Arabia (CIF) - 2022
3. Exports of Machines; Parts and Accessories, of Heading No. 8472 in Saudi Arabia
4. Imports of Machines; Parts and Accessories, of Heading No. 8472 in Saudi Arabia

Price for Machines; Parts and Accessories, of Heading No. 8472 in Saudi Arabia (FOB) - 2022

The average export price for machines; parts and accessories, of heading no. 8472 stood at $55,117 per ton in 2021, declining by -31% against the previous year. Over the period under review, the export price saw a perceptible descent. The pace of growth was the most pronounced in 2018 an increase of 97% against the previous year. The export price peaked at $79,825 per ton in 2020, and then shrank notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($94,622 per ton), while the average price for exports to Kenya ($103 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+240.4%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Machines; Parts and Accessories, of Heading No. 8472 in Saudi Arabia (CIF) - 2022

The average import price for machines; parts and accessories, of heading no. 8472 stood at $133,427 per ton in 2021, rising by 5.5% against the previous year. Over the period under review, the import price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 121%. The import price peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($416,783 per ton), while the price for China ($53,410 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+25.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Machines; Parts and Accessories, of Heading No. 8472 in Saudi Arabia

In 2022, overseas shipments of machines; parts and accessories, of heading no. 8472 decreased by -96.7% to 504 kg, falling for the second year in a row after two years of growth. In general, exports faced a abrupt setback. The growth pace was the most rapid in 2020 when exports increased by 2,565% against the previous year. As a result, the exports reached the peak of 19 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of machines; parts and accessories, of heading no. 8472 contracted dramatically to $46K in 2022. Overall, exports showed a drastic downturn. The pace of growth appeared the most rapid in 2020 with an increase of 2,589%. As a result, the exports reached the peak of $1.5M. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Top Export Markets for Machines; Parts and Accessories, of Heading No. 8472 from Saudi Arabia in 2022:

1. United Arab Emirates (12.1 tons)
2. Kenya (7.8 tons)
3. Bahrain (4.5 tons)
4. Qatar (1.6 tons)
5. Taiwan (Chinese) (0.6 tons)

Imports of Machines; Parts and Accessories, of Heading No. 8472 in Saudi Arabia

Imports of machines; parts and accessories, of heading no. 8472 into Saudi Arabia declined dramatically to 91 tons in 2021, falling by -34.2% compared with the previous year's figure. In general, imports continue to indicate a precipitous decline.

In value terms, imports of machines; parts and accessories, of heading no. 8472 shrank markedly to $12M in 2021. Over the period under review, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 20%. As a result, imports reached the peak of $17M, and then shrank significantly in the following year.

Top Suppliers of Machines; Parts and Accessories, of Heading No. 8472 to Saudi Arabia in 2022:

1. China (33.0 tons)
2. India (9.9 tons)
3. Germany (9.3 tons)
4. United States (8.9 tons)
5. United Kingdom (4.9 tons)
6. Japan (4.5 tons)
7. Italy (4.0 tons)
8. Taiwan (Chinese) (3.8 tons)

Source: IndexBox Market Intelligence Platform