Romania: Interchangeable Spanner Socket Market 2024

Interchangeable Spanner Socket Market Size in Romania

The Romanian interchangeable spanner socket market declined to $X in 2022, waning by -11% against the previous year. Over the period under review, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +42.7% against 2020 indices. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Interchangeable Spanner Socket Production in Romania

In value terms, interchangeable spanner socket production declined to $X in 2022 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 65%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Interchangeable Spanner Socket Exports

Exports from Romania

After two years of decline, shipments abroad of interchangeable spanner sockets increased by 37% to X tons in 2022. Overall, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 216%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, interchangeable spanner socket exports surged to $X in 2022. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 184% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons) was the main destination for interchangeable spanner socket exports from Romania, accounting for a 64% share of total exports. Moreover, interchangeable spanner socket exports to France exceeded the volume sent to the second major destination, Sweden (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled +65.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+68.1% per year) and Germany (+57.1% per year).

In value terms, France ($X) emerged as the key foreign market for interchangeable spanner sockets exports from Romania, comprising 64% of total exports. The second position in the ranking was held by Sweden ($X), with a 14% share of total exports. It was followed by Germany, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France amounted to +69.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+53.1% per year) and Germany (+50.7% per year).

Export Prices by Country

The average interchangeable spanner socket export price stood at $X per ton in 2022, falling by -5.9% against the previous year. Overall, the export price, however, enjoyed a temperate increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 54% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Finland ($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 (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Romania

In 2022, interchangeable spanner socket imports into Romania rose remarkably to X tons, increasing by 9.7% against the previous year's figure. Over the period under review, imports posted a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 95% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, interchangeable spanner socket imports shrank to $X in 2022. Overall, imports posted a strong expansion. The growth pace was the most rapid in 2021 with an increase of 47%. As a result, imports attained the peak of $X, and then shrank modestly in the following year.

Imports by Country

China (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of interchangeable spanner socket imports to Romania, together comprising 82% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +37.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest interchangeable spanner socket suppliers to Romania were China ($X), Germany ($X) and Poland ($X), with a combined 69% share of total imports.

Among the main suppliers, China, with a CAGR of +36.7%, recorded the highest rates of growth with regard to 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 interchangeable spanner socket import price stood at $X per ton in 2022, shrinking by -10.4% against the previous year. Overall, the import price showed a deep downturn. The pace of growth was the most pronounced in 2017 an increase of 49% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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