Pakistan: Tools For Bearing Market 2024

Tools For Bearing Market Size in Pakistan

The Pakistani tools for bearing market declined to $X in 2022, approximately equating 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, however, showed strong growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Tools For Bearing Exports

Exports from Pakistan

Tools for bearing exports from Pakistan fell notably to X tons in 2022, which is down by -24.8% against 2021 figures. Overall, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 5,141% against the previous year. As a result, the exports reached the peak of X tons, and then dropped markedly in the following year.

In value terms, tools for bearing exports declined markedly to $X in 2022. In general, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 10,284% against the previous year. As a result, the exports attained the peak of $X, and then reduced markedly in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for tools for bearing exports from Pakistan, accounting for a 50% share of total exports. Moreover, tools for bearing exports to the United Arab Emirates exceeded the volume sent to the second major destination, the United States (X kg), twofold. The third position in this ranking was taken by South Korea (X kg), with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +28.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+92.9% per year) and South Korea (+5.8% per year).

In value terms, the United States ($X) remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from Pakistan, comprising 50% of total exports. The second position in the ranking was held by Sweden ($X), with a 15% share of total exports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +61.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+30.8% per year) and the United Arab Emirates (+15.5% per year).

Export Prices by Country

In 2022, the average tools for bearing export price amounted to $X per ton, with a decrease of -32.9% against the previous year. Over the period under review, the export price continues to indicate a mild decline. The most prominent rate of growth was recorded in 2021 when the average export price increased by 98%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ethiopia ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into Pakistan

In 2022, supplies from abroad of balls, needles and rollers for ball or roller bearings decreased by -31.2% to X tons, falling for the third year in a row after two years of growth. Overall, imports, however, posted a noticeable increase. The most prominent rate of growth was recorded in 2014 with an increase of 85% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, tools for bearing imports expanded rapidly to $X in 2022. In general, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 43% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of tools for bearing to Pakistan, with a 61% share of total imports. Moreover, tools for bearing imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fourfold. The third position in this ranking was taken by Germany (X tons), with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+30.9% per year) and Germany (+28.8% per year).

In value terms, China ($X) constituted the largest supplier of balls, needles and rollers for ball or roller bearings to Pakistan, comprising 64% of total imports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total imports. It was followed by Germany, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+29.0% per year) and Germany (+29.7% per year).

Import Prices by Country

In 2022, the average tools for bearing import price amounted to $X per ton, picking up by 61% against the previous year. Over the period under review, the import price posted a prominent increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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