Seals; Mechanical Price in Spain - 2023

Seals; Mechanical Price in Spain (CIF) - 2023

In August 2023, the average seals; mechanical import price amounted to $130 per thousand units, falling by -94.8% against the previous month. Overall, the import price continues to indicate a sharp descent. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 244% against the previous month. The import price peaked at $3.1 per unit in January 2023; however, from February 2023 to August 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($3.2 per unit), while the price for Portugal ($20.0 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 Italy (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Seals; Mechanical Price in Spain (FOB) - 2022

The average seals; mechanical export price stood at $2.1 per unit in 2022, dropping by -7.6% against the previous year. In general, the export price, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 25% against the previous year. Over the period under review, the average export prices reached the peak figure at $2.3 per unit in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($6.2 per unit), while the average price for exports to Belgium ($0.7 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 Italy (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Imports in Spain

In 2022, purchases abroad of seals; mechanicals decreased by -1.3% to 23M units, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a perceptible decline. The most prominent rate of growth was recorded in 2020 with an increase of 23%. As a result, imports reached the peak of 31M units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, seals; mechanical imports totaled $51M in 2022. The total import value increased at an average annual rate of +1.7% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 11%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Seals; Mechanical in Spain (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	11.3	7.7	7.0	11.1	-0.6%
China	5.6	6.2	8.8	9.0	17.1%
Italy	9.7	8.4	9.8	5.5	-17.2%
France	3.8	3.2	3.1	3.9	0.9%
Netherlands	1.5	2.4	3.0	3.4	31.4%
United Kingdom	5.3	4.9	3.4	3.0	-17.3%
India	0.4	1.0	2.1	2.2	76.5%
Others	10.7	11.4	13.1	12.7	5.9%
Total	48.4	45.3	50.3	50.9	1.7%

Top Suppliers of Seals; Mechanical to Spain in 2022:

France (5.2M units)
Germany (5.0M units)
China (4.3M units)
Italy (2.8M units)
United Kingdom (1.8M units)
Netherlands (1.0M units)
India (0.7M units)

Seals; Mechanical Exports in Spain

In 2022, exports of seals; mechanicals from Spain skyrocketed to 13M units, rising by 38% against the previous year. In general, exports, however, showed a perceptible curtailment. The exports peaked at 15M units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, seals; mechanical exports surged to $27M in 2022. Overall, total exports indicated a mild expansion from 2019 to 2022: its value increased at an average annual rate of +1.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +68.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 32% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Export of Seals; Mechanical in Spain (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Portugal	3.8	2.5	2.4	3.7	-0.9%
Poland	4.6	1.6	2.9	3.7	-7.0%
Germany	4.1	1.4	1.5	2.1	-20.0%
Netherlands	0.6	0.7	0.9	1.7	41.5%
France	0.6	0.5	1.0	1.5	35.7%
United Kingdom	0.3	0.5	1.4	1.3	63.0%
Italy	0.7	0.3	0.7	1.0	12.6%
Slovakia	0.8	0.3	0.5	1.0	7.7%
Czech Republic	1.6	0.6	0.1	0.9	-17.5%
Romania	0.1	N/A	0.1	0.6	81.7%
Chile	0.2	0.6	0.2	0.6	44.2%
Belgium	1.0	0.3	0.1	0.3	-33.1%
Argentina	0.2	0.4	0.6	0.3	14.5%
Others	7.2	6.3	9.1	8.6	6.1%
Total	25.8	16.2	21.4	27.3	1.9%