New Zealand: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in New Zealand

The New Zealand electrical circuit apparatus market soared to $X in 2021, surging by 63% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electrical Circuit Apparatus Exports

Exports from New Zealand

In 2021, shipments abroad of electrical apparatus for circuit connection, switching and protection was finally on the rise to reach X tons after three years of decline. In general, total exports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, electrical circuit apparatus exports soared to $X in 2021. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, 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.

Exports by Country

Australia (X tons) was the main destination for electrical circuit apparatus exports from New Zealand, accounting for a 33% share of total exports. Moreover, electrical circuit apparatus exports to Australia exceeded the volume sent to the second major destination, the United States (X tons), threefold. Germany (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+19.5% per year) and Germany (+25.1% per year).

In value terms, Australia ($X) remains the key foreign market for electrical circuit apparatus exports from New Zealand, comprising 32% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia totaled +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+26.2% per year) and Germany (+30.8% per year).

Export Prices by Country

In 2021, the average electrical circuit apparatus export price amounted to $X per ton, with an increase of 4.6% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electrical circuit apparatus export price increased by +51.8% against 2015 indices. The pace of growth was the most pronounced in 2020 an increase of 17% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Denmark ($X per ton), while the average price for exports to Fiji ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+23.7%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into New Zealand

In 2021, supplies from abroad of electrical apparatus for circuit connection, switching and protection was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, electrical circuit apparatus imports soared to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest electrical circuit apparatus supplier to New Zealand, accounting for a 44% share of total imports. Moreover, electrical circuit apparatus imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), fivefold. Vietnam (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-4.9% per year) and Vietnam (+26.6% per year).

In value terms, the largest electrical circuit apparatus suppliers to New Zealand were China ($X), Australia ($X) and Vietnam ($X), together comprising 49% of total imports.

Vietnam, with a CAGR of +32.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average electrical circuit apparatus import price amounted to $X per ton, stabilizing at the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2017 an increase of 13%. Over the period under review, average import prices reached the maximum at $X per ton in 2020, and then declined slightly in the following year.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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