Pakistan: Wood Milling Machine Market 2024

Wood Milling Machine Market Size in Pakistan

The Pakistani wood milling machine market surged to $X in 2021, growing by 11,955% against 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 saw a prominent expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Wood Milling Machine Exports

Exports from Pakistan

In 2021, shipments abroad of planing, milling or moulding machines decreased by -89.7% to X units for the first time since 2017, thus ending a three-year rising trend. Overall, exports showed a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of 600% against the previous year. The exports peaked at X units in 2020, and then fell sharply in the following year.

In value terms, wood milling machine exports dropped remarkably to $X in 2021. In general, exports saw a deep contraction. The growth pace was the most rapid in 2019 with an increase of 276%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for wood milling machine exports from Pakistan, accounting for a 75% share of total exports. Moreover, wood milling machine exports to the United Arab Emirates exceeded the volume sent to the second major destination, Oman (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled -14.3%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for planing, milling or moulding machines exports from Pakistan, comprising 68% of total exports. The second position in the ranking was held by Oman ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates totaled -9.1%.

Export Prices by Country

In 2021, the average wood milling machine export price amounted to $X per unit, rising by 68% against the previous year. Overall, the export price saw resilient growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 192% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Oman amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+8.5%), while the prices for the other major destinations experienced mixed trend patterns.

Wood Milling Machine Imports

Imports into Pakistan

Wood milling machine imports into Pakistan surged to X units in 2021, growing by 590% compared with 2020 figures. Over the period under review, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 1,615% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, wood milling machine imports soared to $X in 2021. In general, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 2,275% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Hong Kong SAR (X units), China (X units) and the UK (X units) were the main suppliers of wood milling machine imports to Pakistan, with a combined 86% share of total imports. These countries were followed by the United Arab Emirates and Turkey, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +58.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of planing, milling or moulding machines to Pakistan, comprising 64% of total imports. The second position in the ranking was taken by the UK ($X), with a 13% share of total imports. It was followed by Hong Kong SAR, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+44.3% per year) and Hong Kong SAR (+22.7% per year).

Import Prices by Country

The average wood milling machine import price stood at $X per unit in 2021, shrinking by -25.3% against the previous year. Over the period under review, import price indicated tangible growth 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 2014 an increase of 50%. The import price peaked at $X per unit in 2020, and then fell markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+51.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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