Greece: Market for Machine Tools For Working Metal Without Removing Metal 2024

Market Size for Machine Tools For Working Metal Without Removing Metal in Greece

The Greek machine tool for metal market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption posted a buoyant increase. Machine tool for metal consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from Greece

Machine tool for metal exports from Greece declined modestly to X units in 2021, therefore, remained relatively stable against the previous year's figure. Overall, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 551% against the previous year. The exports peaked at X units in 2020, and then shrank modestly in the following year.

In value terms, machine tool for metal exports plummeted to $X in 2021. Over the period under review, exports showed a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 1,001%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Portugal (X units) was the main destination for machine tool for metal exports from Greece, with a 67% share of total exports. Moreover, machine tool for metal exports to Portugal exceeded the volume sent to the second major destination, Albania (X units), fourfold. The United Arab Emirates (X units) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume to Portugal totaled +434.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+44.5% per year) and the United Arab Emirates (0.0% per year).

In value terms, the largest markets for machine tool for metal exported from Greece were Portugal ($X), Albania ($X) and North Macedonia ($X), together comprising 97% of total exports.

Albania, with a CAGR of +25.2%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average machine tool for metal export price amounted to $X per unit, which is down by -29.7% against the previous year. In general, the export price recorded a significant curtailment. The most prominent rate of growth was recorded in 2013 an increase of 642%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Turkey ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+17.4%), while the prices for the other major destinations experienced a decline.

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into Greece

After three years of decline, overseas purchases of machine tools for working metal without removing metal increased by 257% to X units in 2021. Over the period under review, imports posted prominent growth. The growth pace was the most rapid in 2017 with an increase of 328% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, machine tool for metal imports skyrocketed to $X in 2021. Overall, imports posted a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 195% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Australia (X units) constituted the largest supplier of machine tool for metal to Greece, accounting for a 87% share of total imports. Moreover, machine tool for metal imports from Australia exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. Italy (X units) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+35.9% per year) and Italy (-4.1% per year).

In value terms, Australia ($X) constituted the largest supplier of machine tools for working metal without removing metal to Greece, comprising 77% of total imports. The second position in the ranking was held by Germany ($X), with an 8.3% share of total imports. It was followed by China, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+48.0% per year) and China (-2.9% per year).

Import Prices by Country

In 2021, the average machine tool for metal import price amounted to $X per unit, declining by -17.4% against the previous year. Over the period under review, the import price, however, continues to indicate noticeable growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 286% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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