Romania: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Romania

In 2021, the Romanian market for instruments for measuring electrical quantities increased by 8.6% to $X, rising for the third year in a row after four years of decline. Overall, consumption showed a pronounced increase. Instruments for measuring electrical quantities consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Instruments for Measuring Electrical Quantities in Romania

In value terms, instruments for measuring electrical quantities production shrank sharply to $X in 2021 estimated in export price. Overall, production faced a dramatic setback. The growth pace was the most rapid in 2014 with an increase of 110% against the previous year. Instruments for measuring electrical quantities production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Instruments for Measuring Electrical Quantities

Exports from Romania

In 2021, overseas shipments of instruments for measuring electrical quantities decreased by -7.4% to X units, falling for the second year in a row after four years of growth. Over the period under review, exports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 76%. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, instruments for measuring electrical quantities exports expanded sharply to $X in 2021. In general, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 46% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for instruments for measuring electrical quantities exports from Romania, with a 60% share of total exports. Moreover, instruments for measuring electrical quantities exports to Germany exceeded the volume sent to the second major destination, Spain (X units), fivefold. The third position in this ranking was held by the Netherlands (X units), with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+21.8% per year) and the Netherlands (-3.3% per year).

In value terms, Germany ($X) remains the key foreign market for instruments for measuring electrical quantities exports from Romania, comprising 59% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 9.2% share of total exports. It was followed by Spain, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+2.4% per year) and Spain (+23.1% per year).

Export Prices by Country

The average export price for instruments for measuring electrical quantities stood at $X per unit in 2021, picking up by 21% against the previous year. Overall, the export price saw a notable expansion. The pace of growth appeared the most rapid in 2020 an increase of 66% against the previous year. The export price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Poland ($X per unit), while the average price for exports to Finland ($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 Hungary (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Romania

In 2021, imports of instruments for measuring electrical quantities into Romania surged to X units, picking up by 86% on 2020. Over the period under review, imports, however, continue to indicate a noticeable descent. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities imports surged to $X in 2021. In general, imports enjoyed a tangible increase. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest instruments for measuring electrical quantities supplier to Romania, with a 60% share of total imports. Moreover, instruments for measuring electrical quantities imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Poland (X units) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled -5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.4% per year) and Poland (+21.3% per year).

In value terms, Germany ($X) constituted the largest supplier of instruments for measuring electrical quantities to Romania, comprising 71% of total imports. The second position in the ranking was taken by Austria ($X), with a 7.4% share of total imports. It was followed by Poland, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+15.2% per year) and Poland (+17.7% per year).

Import Prices by Country

The average import price for instruments for measuring electrical quantities stood at $X per unit in 2021, picking up by 9.8% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, instruments for measuring electrical quantities import price increased by +84.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 68%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :