New Zealand: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in New Zealand

In 2022, the New Zealand interchangeable spanner socket market increased by 5.4% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +71.9% against 2020 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Interchangeable Spanner Socket Exports

Exports from New Zealand

Interchangeable spanner socket exports from New Zealand skyrocketed to X tons in 2022, picking up by 43% against the previous year's figure. In general, exports showed a modest increase. The pace of growth appeared the most rapid in 2014 when exports increased by 110% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, interchangeable spanner socket exports soared to $X in 2022. Overall, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 102%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

Australia (X tons) was the main destination for interchangeable spanner socket exports from New Zealand, accounting for a 73% share of total exports. Moreover, interchangeable spanner socket exports to Australia exceeded the volume sent to the second major destination, Samoa (X kg), ninefold. The third position in this ranking was held by Fiji (X kg), with a 6.1% share.

From 2012 to 2022, 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: Samoa (+28.1% per year) and Fiji (+17.0% per year).

In value terms, Australia ($X) remains the key foreign market for interchangeable spanner sockets exports from New Zealand, comprising 73% of total exports. The second position in the ranking was held by Samoa ($X), with a 7.7% share of total exports. It was followed by Fiji, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia amounted to +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Samoa (+38.8% per year) and Fiji (+19.4% per year).

Export Prices by Country

In 2022, the average interchangeable spanner socket export price amounted to $X per ton, surging by 15% against the previous year. Over the period under review, the export price recorded buoyant growth. The most prominent rate of growth was recorded in 2013 an increase of 48% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and Fiji ($X per ton), while the average price for exports to Kiribati ($X per ton) and Cook Islands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kiribati (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into New Zealand

In 2022, overseas purchases of interchangeable spanner sockets increased by 4.3% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 62% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, interchangeable spanner socket imports expanded remarkably to $X in 2022. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 63%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Taiwan (Chinese) (X tons), China (X tons) and the United States (X tons) were the main suppliers of interchangeable spanner socket imports to New Zealand, together comprising 94% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +10.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest interchangeable spanner socket suppliers to New Zealand were Taiwan (Chinese) ($X), China ($X) and the United States ($X), with a combined 94% share of total imports.

In terms of the main suppliers, China, with a CAGR of +10.0%, 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

The average interchangeable spanner socket import price stood at $X per ton in 2022, increasing by 2.4% against the previous year. Overall, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, interchangeable spanner socket import price increased by +2.9% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 43% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Australia ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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