Romania: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Romania

The Romanian machinery electrical parts market shrank modestly to $X in 2022, declining by -5% against the previous year. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.7% against 2020 indices. Machinery electrical parts consumption peaked at $X in 2021, and then dropped modestly in the following year.

Machinery Electrical Parts Production in Romania

In value terms, machinery electrical parts production dropped to $X in 2022 estimated in export price. In general, production, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 35%. Over the period under review, production hit record highs at $X in 2021, and then dropped in the following year.

Machinery Electrical Parts Exports

Exports from Romania

Machinery electrical parts exports from Romania fell to X tons in 2022, declining by -3.3% compared with the previous year's figure. In general, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2019 when exports increased by 113%. The exports peaked at X tons in 2021, and then declined modestly in the following year.

In value terms, machinery electrical parts exports reduced to $X in 2022. Overall, exports, however, saw a perceptible expansion. The most prominent rate of growth was recorded in 2019 with an increase of 46% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Hungary (X tons) was the main destination for machinery electrical parts exports from Romania, with a 48% share of total exports. Moreover, machinery electrical parts exports to Hungary exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Hungary amounted to +95.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+234.7% per year) and Germany (-0.2% per year).

In value terms, Germany ($X), Poland ($X) and Hungary ($X) constituted the largest markets for machinery electrical parts exported from Romania worldwide, together comprising 56% of total exports. The Netherlands, Italy, Slovakia and Austria lagged somewhat behind, together accounting for a further 24%.

The Netherlands, with a CAGR of +107.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average machinery electrical parts export price stood at $X per ton in 2022, which is down by -12.1% against the previous year. Overall, the export price faced a abrupt contraction. The pace of growth appeared the most rapid in 2013 when the average export price increased by 30% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat 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 Italy ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+0.9%), while the prices for the other major destinations experienced a decline.

Machinery Electrical Parts Imports

Imports into Romania

Machinery electrical parts imports into Romania declined markedly to X tons in 2022, with a decrease of -25.3% on the previous year. In general, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 150%. Over the period under review, imports reached the maximum at X tons in 2021, and then declined rapidly in the following year.

In value terms, machinery electrical parts imports declined to $X in 2022. Over the period under review, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2014 when imports increased by 231%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), Spain (X tons) and France (X tons) were the main suppliers of machinery electrical parts imports to Romania, together comprising 54% of total imports. Hong Kong SAR, China, Italy and the Netherlands lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +1,072.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Hong Kong SAR ($X) and France ($X) constituted the largest machinery electrical parts suppliers to Romania, together accounting for 49% of total imports.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +261.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average machinery electrical parts import price stood at $X per ton in 2022, picking up by 28% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by 42% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :