Pakistan: Wood Tool Market 2024

Wood Tool Market Size in Pakistan

The Pakistani wood tool market reduced to $X in 2021, with a decrease of -9.8% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Wood Tool Production in Pakistan

In value terms, wood tool production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 41%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Wood Tool Exports

Exports from Pakistan

In 2021, exports of tools of wood from Pakistan contracted significantly to X tons, falling by -73.3% compared with the previous year's figure. Over the period under review, exports recorded a deep slump. The pace of growth appeared the most rapid in 2020 when exports increased by 335%. As a result, the exports reached the peak of X tons, and then fell rapidly in the following year.

In value terms, wood tool exports dropped remarkably to $X in 2021. Overall, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 461%. As a result, the exports attained the peak of $X, and then fell markedly in the following year.

Exports by Country

The United States (X tons), Canada (X tons) and France (X tons) were the main destinations of wood tool exports from Pakistan, with a combined 66% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +41.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), France ($X) and Saudi Arabia ($X) were the largest markets for wood tool exported from Pakistan worldwide, with a combined 78% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +28.5%, recorded 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

The average wood tool export price stood at $X per ton in 2021, falling by -26.7% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the average export price increased by 77% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Canada ($X per ton) 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 (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Tool Imports

Imports into Pakistan

In 2021, imports of tools of wood into Pakistan surged to X tons, growing by 31% compared with the year before. In general, imports posted significant growth. The pace of growth appeared the most rapid in 2017 when imports increased by 110% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, wood tool imports contracted rapidly to $X in 2021. Overall, imports saw a significant increase. The growth pace was the most rapid in 2014 with an increase of 173% against the previous year. Imports peaked at $X in 2020, and then dropped sharply in the following year.

Imports by Country

In 2021, China (X tons) was the main supplier of wood tool to Pakistan, accounting for a 91% share of total imports. Moreover, wood tool imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +43.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+53.3% per year) and the United States (+79.2% per year).

In value terms, China ($X) constituted the largest supplier of tools of wood to Pakistan, comprising 91% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 4.7% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +42.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+42.5% per year) and the United States (+89.8% per year).

Import Prices by Country

The average wood tool import price stood at $X per ton in 2021, dropping by -37.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 56% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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