Italy's Domestic, Non-electric, Cooking or Heating Appliance Price Skyrocket 11% to $193 per Unit

Italy Home Appliance Export Price in February 2023

In February 2023, the home appliance price amounted to $193 per unit (FOB, Italy), with an increase of 11% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2022 when the average export price increased by 18% m-o-m. Over the period under review, the average export prices hit record highs at $215 per unit in February 2022; however, from March 2022 to February 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In February 2023, the country with the highest price was Australia ($368 per unit), while the average price for exports to Romania ($103 per unit) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Italy Home Appliance Export Prices by Type

There were significant differences in the average prices for the major types of exported product. In February 2023, the product with the highest price was cooking appliances and plate warmers; for solid fuel and fuels other than gas or liquid, of iron or steel ($232 per unit), while the average price for exports of cooking appliances and plate warmers; for liquid fuel, of iron or steel ($71.3 per unit) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for the following types: copper; table, kitchen or other household articles and parts thereof, pot scourers and scouring or polishing pads, gloves and the like (0.0%), while the prices for the other products experienced a decline.

Italy Home Appliance Exports

In February 2023, after four months of decline, there was significant growth in overseas shipments of domestic, non-electric, cooking or heating appliances, when their volume increased by 20% to 152K units. Overall, exports, however, continue to indicate a mild setback. The pace of growth appeared the most rapid in September 2022 with an increase of 64% against the previous month. The exports peaked at 262K units in March 2022; however, from April 2022 to February 2023, the exports stood at a somewhat lower figure.

In value terms, exports of domestic, non-electric, cooking or heating appliances soared to $29M (IndexBox estimates) in February 2023. In general, exports, however, recorded a noticeable setback. The most prominent rate of growth was recorded in September 2022 with an increase of 57% month-to-month. The exports peaked at 53M units in March 2022; however, from April 2022 to February 2023, the exports stood at a somewhat lower figure.

Italy Home Appliance Exports by Type

Iron or steel gas domestic cooking appliances and plate warmers (145K units) was the largest type of domestic, non-electric, cooking or heating appliance exported from Italy, accounting for a 95% share of total exports. Moreover, iron or steel gas domestic cooking appliances and plate warmers exceeded the volume of the second product type, cooking appliances and plate warmers; for solid fuel and fuels other than gas or liquid, of iron or steel (6.1K units), more than tenfold.

From February 2022 to February 2023, the average monthly rate of growth in terms of the volume of export of iron or steel gas domestic cooking appliances and plate warmers amounted to -1.7%. With regard to the other exported products, the following average monthly rates of growth were recorded: cooking appliances and plate warmers; for solid fuel and fuels other than gas or liquid, of iron or steel (-1.5% per month) and cooking appliances and plate warmers; for liquid fuel, of iron or steel (+9.9% per month).

In value terms, iron or steel gas domestic cooking appliances and plate warmers ($27M) remains the largest type of domestic, non-electric, cooking or heating appliance exported from Italy, comprising 93% of total exports. The second position in the ranking was taken by cooking appliances and plate warmers; for solid fuel and fuels other than gas or liquid, of iron or steel ($1.4M), with a 4.8% share of total exports. It was followed by copper; table, kitchen or other household articles and parts thereof, pot scourers and scouring or polishing pads, gloves and the like, with a 1.9% share.

From February 2022 to February 2023, the average monthly growth rate of the export volume of iron or steel gas domestic cooking appliances and plate warmers amounted to -2.4%. With regard to the other exported products, the following average monthly rates of growth were recorded: cooking appliances and plate warmers; for solid fuel and fuels other than gas or liquid, of iron or steel (-5.3% per month) and copper; table, kitchen or other household articles and parts thereof, pot scourers and scouring or polishing pads, gloves and the like (+0.7% per month).

Italy Home Appliance Exports by Country

France (25K units), Saudi Arabia (24K units) and the UK (12K units) were the main destinations of exports of domestic, non-electric, cooking or heating appliances from Italy, with a combined 40% share of total exports. Spain, Poland, Germany, Morocco, Israel, Mexico, Romania, Switzerland, Argentina and Australia lagged somewhat behind, together accounting for a further 34%.

From February 2022 to February 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Argentina (with a CAGR of +9.7%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($4.7M), France ($3.4M) and Spain ($1.9M) constituted the largest markets for domestic, non-electric, cooking or heating appliance exported from Italy worldwide, together comprising 34% of total exports. the UK, Germany, Australia, Mexico, Poland, Israel, Switzerland, Morocco, Argentina and Romania lagged somewhat behind, together comprising a further 31%.

In terms of the main countries of destination, Argentina, with a CAGR of +11.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform