Pakistan: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Pakistan

In 2022, the Pakistani refrigerator or freezer market decreased by -34.5% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, posted a slight expansion. As a result, consumption reached the peak level of $X, and then dropped dramatically in the following year.

Refrigerator Or Freezer Exports

Exports from Pakistan

Refrigerator or freezer exports from Pakistan contracted remarkably to X units in 2022, with a decrease of -67.5% compared with the year before. Overall, exports showed a deep slump. The pace of growth was the most pronounced in 2015 when exports increased by 987% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, refrigerator or freezer exports shrank dramatically to $X in 2022. Over the period under review, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 1,450% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units), Mozambique (X units) and Sri Lanka (X units) were the main destinations of refrigerator or freezer exports from Pakistan.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +15.8%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for refrigerator or freezer exported from Pakistan were Mozambique ($X), Sri Lanka ($X) and the United States ($X).

Sri Lanka, with a CAGR of +54.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average refrigerator or freezer export price amounted to $X per unit, increasing by 83% against the previous year. Over the period under review, the export price enjoyed measured growth. The growth pace was the most rapid in 2020 when the average export price increased by 163% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+33.1%), while the prices for the other major destinations experienced mixed trend patterns.

Refrigerator Or Freezer Imports

Imports into Pakistan

After two years of growth, overseas purchases of furniture designed to receive refrigerating or freezing equipment decreased by -31.8% to X units in 2022. Over the period under review, imports, however, recorded a notable increase. The pace of growth was the most pronounced in 2021 when imports increased by 668% against the previous year. As a result, imports attained the peak of X units, and then contracted markedly in the following year.

In value terms, refrigerator or freezer imports reduced remarkably to $X in 2022. In general, imports showed a noticeable slump. The growth pace was the most rapid in 2021 with an increase of 429% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Philippines (X units) constituted the largest refrigerator or freezer supplier to Pakistan, accounting for a 61% share of total imports. Moreover, refrigerator or freezer imports from the Philippines exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fourfold. The third position in this ranking was held by the United States (X units), with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume from the Philippines stood at +20.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+51.7% per year) and the United States (+63.5% per year).

In value terms, the Philippines ($X) constituted the largest supplier of furniture designed to receive refrigerating or freezing equipment to Pakistan, comprising 53% of total imports. The second position in the ranking was held by the United States ($X), with a 21% share of total imports. It was followed by Taiwan (Chinese), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Philippines stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+45.4% per year) and Taiwan (Chinese) (+35.0% per year).

Import Prices by Country

The average refrigerator or freezer import price stood at $X per unit in 2022, reducing by -12.8% against the previous year. In general, the import price recorded a drastic downturn. The growth pace was the most rapid in 2017 an increase of 94%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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 ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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