Jordan: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Jordan

The Jordanian machine-tool for drilling market reduced dramatically to $X in 2022, with a decrease of -29.9% against the previous year. Over the period under review, consumption, however, enjoyed a resilient increase. As a result, consumption reached the peak level of $X, and then fell dramatically in the following year.

Machine-Tool For Drilling Production in Jordan

In value terms, machine-tool for drilling production shrank markedly to $X in 2022 estimated in export price. Overall, production, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 569%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Machine-Tool For Drilling Exports

Exports from Jordan

In 2022, overseas shipments of machine-tools for drilling, boring or milling metal decreased by -10.8% to X units, falling for the third year in a row after two years of growth. In general, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 23,735%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, machine-tool for drilling exports contracted markedly to $X in 2022. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2013 when exports increased by 242%. The exports peaked at $X in 2021, and then declined remarkably in the following year.

Exports by Country

Free Zones (X units) was the main destination for machine-tool for drilling exports from Jordan, accounting for a 96% share of total exports. Moreover, machine-tool for drilling exports to Free Zones exceeded the volume sent to the second major destination, Saudi Arabia (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Free Zones stood at +37.8%.

In value terms, Free Zones ($X) remains the key foreign market for machine-tools for drilling, boring or milling metal exports from Jordan, comprising 83% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 6.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Free Zones amounted to +34.0%.

Export Prices by Country

The average machine-tool for drilling export price stood at $X per unit in 2022, reducing by -11.1% against the previous year. Over the period under review, the export price recorded a mild setback. The pace of growth was the most pronounced in 2020 when the average export price increased by 5,716%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the 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 Saudi Arabia ($X per unit), while the average price for exports to Free Zones stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+0.6%).

Machine-Tool For Drilling Imports

Imports into Jordan

In 2022, approx. X units of machine-tools for drilling, boring or milling metal were imported into Jordan; picking up by 89% compared with the year before. Over the period under review, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 165% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, machine-tool for drilling imports fell modestly to $X in 2022. In general, imports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2019 with an increase of 33%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest machine-tool for drilling supplier to Jordan, with a 55% share of total imports. Moreover, machine-tool for drilling imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Taiwan (Chinese) (X units) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +29.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+22.0% per year) and Taiwan (Chinese) (+13.1% per year).

In value terms, Germany ($X), China ($X) and Taiwan (Chinese) ($X) were the largest machine-tool for drilling suppliers to Jordan, with a combined 80% share of total imports. South Korea, Japan, Belgium, the United States and Israel lagged somewhat behind, together comprising a further 15%.

Among the main suppliers, Israel, with a CAGR of +24.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average machine-tool for drilling import price amounted to $X per unit, reducing by -49% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 an increase of 92%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Israel ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform