Price for Non-Furniture Refrigerating or Freezing Equipment in South Africa - 2023

Contents:

1. Price for Non-Furniture Refrigerating or Freezing Equipment in South Africa (CIF) - 2023
2. Price for Non-Furniture Refrigerating or Freezing Equipment in South Africa (FOB) - 2022
3. Imports of Non-Furniture Refrigerating or Freezing Equipment in South Africa
4. Exports of Non-Furniture Refrigerating or Freezing Equipment in South Africa

Price for Non-Furniture Refrigerating or Freezing Equipment in South Africa (CIF) - 2023

In July 2023, the average import price for non-furniture refrigerating or freezing equipment amounted to $180 per unit, with a decrease of -40.2% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 an increase of 59% month-to-month. As a result, import price reached the peak level of $301 per unit. From September 2022 to July 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Germany ($459 per unit), while the price for Malaysia ($92.9 per unit) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by France (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Non-Furniture Refrigerating or Freezing Equipment in South Africa (FOB) - 2022

The average export price for non-furniture refrigerating or freezing equipment stood at $101 per unit in 2022, with an increase of 6.3% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-furniture refrigerating or freezing equipment export price increased by +27.9% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 72% against the previous year. As a result, the export price attained the peak level of $115 per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($296 per unit), while the average price for exports to Lesotho ($31 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 Namibia (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Furniture Refrigerating or Freezing Equipment in South Africa

Non-furniture refrigerating or freezing equipment imports into South Africa expanded notably to 363K units in 2022, growing by 5.5% against the previous year. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 50%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, non-furniture refrigerating or freezing equipment imports skyrocketed to $65M in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +5.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 41% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Non-Furniture Refrigerating or Freezing Equipment to South Africa in 2022:

1. China (196.5K units)
2. France (52.2K units)
3. Italy (37.9K units)
4. Ireland (32.4K units)
5. United States (23.3K units)
6. Germany (6.4K units)
7. Mexico (5.9K units)

Exports of Non-Furniture Refrigerating or Freezing Equipment in South Africa

In 2022, approx. 247K units of non-furniture refrigerating or freezing equipment were exported from South Africa; increasing by 18% against the year before. In general, exports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2021 when exports increased by 56% against the previous year. Over the period under review, the exports attained the peak figure at 294K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, non-furniture refrigerating or freezing equipment exports skyrocketed to $25M in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 88% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Top Export Markets for Non-Furniture Refrigerating or Freezing Equipment from South Africa in 2022:

1. Zambia (99.2K units)
2. Mozambique (50.5K units)
3. Botswana (17.9K units)
4. Zimbabwe (15.3K units)
5. Swaziland (10.0K units)
6. Namibia (8.9K units)
7. Malawi (8.6K units)
8. Turkey (8.4K units)
9. Russia (7.1K units)
10. Tanzania (5.8K units)
11. Burkina Faso (5.5K units)
12. Lesotho (5.0K units)
13. Democratic Republic of the Congo (5.0K units)

Source: IndexBox Market Intelligence Platform