Seals; Mechanical Price in Singapore - 2022

Seals; Mechanical Price in Singapore (FOB) - 2022

In 2022, the average seals; mechanical export price amounted to $8.6 per unit, dropping by -3.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 17% against the previous year. As a result, the export price reached the peak level of $10 per unit. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($9.4 per unit), while the average price for exports to the United Arab Emirates ($1.8 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 Thailand (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Price in Singapore (CIF) - 2022

In 2022, the average seals; mechanical import price amounted to $8.8 per unit, increasing by 33% against the previous year. In general, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, seals; mechanical import price increased by +71.6% against 2016 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($8.8 per unit) and Indonesia ($8.8 per unit), while the price for Malaysia ($8.8 per unit) and Thailand ($8.8 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Exports in Singapore

In 2022, approx. 12M units of seals; mechanicals were exported from Singapore; jumping by 42% compared with 2021 figures. In general, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +10.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.6% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, seals; mechanical exports skyrocketed to $100M in 2022. The total export value increased at an average annual rate of +5.4% 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 Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	13.3	13.4	13.6	16.7	7.9%
Malaysia	13.0	10.1	12.2	15.0	4.9%
Thailand	11.1	6.6	3.8	8.7	-7.8%
China	8.2	5.8	5.3	7.8	-1.7%
Germany	1.6	2.4	6.1	7.5	67.4%
Australia	3.8	5.9	5.6	6.9	22.0%
India	6.3	5.0	3.8	6.1	-1.1%
Philippines	4.7	4.0	3.9	5.1	2.8%
Vietnam	3.1	2.0	2.3	3.0	-1.1%
United States	2.5	1.9	1.9	2.6	1.3%
South Korea	2.2	2.3	2.0	2.6	5.7%
Brunei Darussalam	3.0	1.9	1.3	2.5	-5.9%
United Arab Emirates	0.1	0.2	0.6	0.7	91.3%
Others	12.1	9.2	10.2	14.3	5.7%
Total	85.0	70.8	72.4	99.5	5.4%

Top Export Markets for Seals; Mechanical from Singapore in 2022:

Indonesia (1940.0K units)
Malaysia (1738.4K units)
Thailand (926.8K units)
Germany (865.7K units)
China (844.3K units)
Australia (799.9K units)
India (656.0K units)
Philippines (554.8K units)
United Arab Emirates (384.9K units)
Vietnam (326.3K units)
South Korea (284.1K units)
United States (278.1K units)
Brunei Darussalam (265.8K units)

Seals; Mechanical Imports in Singapore

Seals; mechanical imports into Singapore expanded remarkably to 12M units in 2022, picking up by 10% on the year before. The total import volume increased at an average annual rate of +3.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 12%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, seals; mechanical imports skyrocketed to $105M in 2022. In general, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +17.7% 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 +74.0% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Seals; Mechanical in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	21.2	13.5	23.7	33.2	16.1%
Japan	7.1	11.6	7.3	12.0	19.1%
Germany	8.5	7.3	7.7	10.9	8.6%
Indonesia	1.0	1.0	4.8	6.7	88.5%
United Kingdom	3.5	4.6	4.3	6.0	19.7%
Malaysia	2.3	2.4	3.8	5.4	32.9%
China	3.1	4.4	3.1	4.9	16.5%
South Korea	2.7	2.8	3.5	4.8	21.1%
France	1.0	1.5	1.3	1.8	21.6%
Thailand	1.0	0.7	1.3	1.8	21.6%
Italy	0.5	1.2	1.2	1.7	50.4%
Taiwan (Chinese)	1.9	1.0	0.9	1.7	-3.6%
Denmark	2.2	0.6	0.8	1.7	-8.2%
Others	8.4	7.7	8.1	12.4	13.9%
Total	64.4	60.3	71.7	105	17.7%