Pakistan: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Pakistan

The Pakistani machine-tool for working metal market totaled $X in 2021, picking up by 7.6% against the previous year. Over the period under review, consumption, however, showed a pronounced contraction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Machine Tools For Working Metal in Pakistan

In value terms, machine-tool for working metal production rose sharply to $X in 2021 estimated in export price. Overall, production, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by 53% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Exports of Machine Tools For Working Metal

Exports from Pakistan

Machine-tool for working metal exports from Pakistan surged to X units in 2021, rising by 54% compared with the year before. Overall, exports, however, continue to indicate a slight decline. The most prominent rate of growth was recorded in 2019 with an increase of 400%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for working metal exports contracted sharply to $X in 2021. Over the period under review, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 397% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Oman (X units), the United Arab Emirates (X units) and Saudi Arabia (X units) were the main destinations of machine-tool for working metal exports from Pakistan, together accounting for 89% of total exports. The United States and Kenya lagged somewhat behind, together accounting for a further 8.1%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +114.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X) constituted the largest markets for machine-tool for working metal exported from Pakistan worldwide, with a combined 58% share of total exports. These countries were followed by the United States and Kenya, which together accounted for a further 12%.

In terms of the main countries of destination, Kenya, with a CAGR of +41.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average machine-tool for working metal export price amounted to $X per unit, declining by -58.7% against the previous year. Overall, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (-1.9%), while the prices for the other major destinations experienced a decline.

Imports of Machine Tools For Working Metal

Imports into Pakistan

In 2021, overseas purchases of machine tools for working metal were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2017 with an increase of 65%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, machine-tool for working metal imports surged to $X in 2021. Overall, imports showed a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 85%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of machine-tool for working metal to Pakistan, with a 75% share of total imports. Moreover, machine-tool for working metal imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), tenfold. South Korea (X units) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +34.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+113.9% per year) and South Korea (+25.2% per year).

In value terms, China ($X) constituted the largest supplier of machine tools for working metal to Pakistan, comprising 61% of total imports. The second position in the ranking was taken by Thailand ($X), with an 8.4% share of total imports. It was followed by South Korea, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +21.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+132.2% per year) and South Korea (+34.8% per year).

Import Prices by Country

In 2021, the average machine-tool for working metal import price amounted to $X per unit, falling by -11.9% against the previous year. Overall, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by 20%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :