Pakistan: Copper Wire Market 2024

Copper Wire Market Size in Pakistan

In 2021, after two years of growth, there was significant decline in the Pakistani copper wire market, when its value decreased by -6.4% to $X. The market value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020, and then dropped in the following year.

Copper Wire Production in Pakistan

In value terms, copper wire production shrank to $X in 2021 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +55.1% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 42%. Copper wire production peaked at $X in 2020, and then dropped in the following year.

Copper Wire Exports

Exports from Pakistan

After two years of decline, overseas shipments of copper wire increased by 201% to X tons in 2021. Over the period under review, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, copper wire exports soared to $X in 2021. In general, exports recorded a moderate increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for copper wire exports from Pakistan, accounting for a 82% share of total exports. Moreover, copper wire exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), ninefold. China (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-3.1% per year) and China (-17.3% per year).

In value terms, the United States ($X) remains the key foreign market for copper wire exports from Pakistan, comprising 81% of total exports. The second position in the ranking was taken by the UK ($X), with a 9.1% share of total exports. It was followed by China, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-0.6% per year) and China (-10.3% per year).

Export Prices by Country

In 2021, the average copper wire export price amounted to $X per ton, dropping by -35.2% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the average export price increased by 38%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then dropped sharply in the following year.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were China ($X per ton) and the UK ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+1,575.4%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into Pakistan

In 2021, purchases abroad of copper wire increased by 40% to X tons, rising for the second consecutive year after two years of decline. In general, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 123%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, copper wire imports surged to $X in 2021. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 109% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of copper wire to Pakistan, accounting for a 70% share of total imports. Moreover, copper wire imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. Sri Lanka (X tons) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+13.6% per year) and Sri Lanka (+6.7% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of copper wire to Pakistan, comprising 70% of total imports. The second position in the ranking was taken by Japan ($X), with a 12% share of total imports. It was followed by Sri Lanka, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates stood at +28.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+12.4% per year) and Sri Lanka (+25.5% per year).

Import Prices by Country

The average copper wire import price stood at $X per ton in 2021, with an increase of 36% against the previous year. In general, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Malaysia ($X per ton), while the price for China ($X per ton) and Sri Lanka ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform