Seals; Mechanical Price in Portugal - 2023

Seals; Mechanical Price in Portugal (CIF) - 2023

The average seals; mechanical import price stood at $7.9 per unit in August 2023, picking up by 9.1% against the previous month. Overall, import price indicated pronounced growth from August 2022 to August 2023: its price increased at an average monthly rate of +3.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, seals; mechanical import price increased by +129.3% against April 2023 indices. The most prominent rate of growth was recorded in May 2023 an increase of 105% against the previous month. The import price peaked in August 2023.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Germany ($18.2 per unit), while the price for Bahamas ($97.0 per thousand units) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Belgium (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Price in Portugal (FOB) - 2022

In 2022, the average seals; mechanical export price amounted to $3.5 per unit, with an increase of 27% against the previous year. In general, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% 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 +101.5% against 2016 indices. The growth pace was the most rapid in 2020 an increase of 29% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($8 per unit), while the average price for exports to Spain ($1.7 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 South Africa (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Imports in Portugal

In 2022, after two years of decline, there was growth in supplies from abroad of seals; mechanicals, when their volume increased by 0.7% to 3.8M units. Over the period under review, imports, however, saw a drastic downturn. Over the period under review, imports hit record highs at 4.9M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, seals; mechanical imports reached $12M in 2022. The total import value increased at an average annual rate of +1.9% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Seals; Mechanical in Portugal (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	6.7	6.2	4.3	5.1	-8.7%
Germany	2.2	1.8	2.5	2.5	4.4%
South Korea	0.3	0.5	1.0	1.5	71.0%
United Kingdom	0.4	0.4	0.7	0.8	26.0%
Italy	0.6	0.5	0.4	0.5	-5.9%
France	0.3	0.7	0.4	0.4	10.1%
Netherlands	0.4	0.4	0.4	0.3	-9.1%
China	0.1	0.1	0.2	0.3	44.2%
Taiwan (Chinese)	0.1	0.1	0.2	0.2	26.0%
Belgium	0.2	0.1	0.2	0.2	0.0%
Others	0.6	0.7	0.7	0.7	5.3%
Total	11.8	11.7	11.0	12.5	1.9%

Top Suppliers of Seals; Mechanical to Portugal in 2022:

Spain (1186.9K units)
Germany (1039.9K units)
France (306.0K units)
China (259.1K units)
Italy (247.2K units)
South Korea (231.9K units)
Taiwan (Chinese) (91.9K units)
Belgium (67.8K units)
United Kingdom (60.9K units)
Netherlands (55.4K units)

Seals; Mechanical Exports in Portugal

Seals; mechanical exports from Portugal shrank modestly to 340K units in 2022, waning by -4.8% compared with the previous year's figure. In general, exports showed a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 29%. The exports peaked at 376K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, seals; mechanical exports surged to $1.2M in 2022. The total export value increased at an average annual rate of +10.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Seals; Mechanical in Portugal (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	118	114	140	255	29.3%
Germany	86.2	68.6	77.8	124	12.9%
Angola	296	151	74.0	120	-26.0%
India	16.9	8.0	42.8	106	84.4%
South Africa	0.1	1.1	25.6	78.7	823.3%
Brazil	39.3	2.6	17.5	78.2	25.8%
Italy	34.7	21.3	50.0	38.5	3.5%
United States	0.9	7.8	13.1	28.3	215.6%
China	8.1	30.5	187	25.4	46.4%
Canada	0.1	46.1	1.3	20.4	488.7%
Indonesia	6.6	84.5	76.6	20.3	45.4%
Egypt	N/A	N/A	9.8	15.1	54.1%
Cabo Verde	8.6	12.7	10.8	14.3	18.5%
Others	269	292	270	276	0.9%
Total	885	840	996	1,200	10.7%