Seals; Mechanical Price in Belgium - 2023

Seals; Mechanical Price in Belgium (CIF) - 2022

The average seals; mechanical import price stood at $0.6 per unit in 2022, waning by -11.4% against the previous year. In general, the import price saw a abrupt downturn. The pace of growth appeared the most rapid in 2016 an increase of 37% against the previous year. As a result, import price attained the peak level of $2.2 per unit. From 2017 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($6.4 per unit), while the price for Italy ($0.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+0.9%), while the prices for the other major suppliers experienced a decline.

Seals; Mechanical Price in Belgium (FOB) - 2022

The average seals; mechanical export price stood at $4.1 per unit in 2022, increasing by 3.1% against the previous year. Over the period under review, the export price saw strong growth. The growth pace was the most rapid in 2017 when the average export price increased by 185% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($9.2 per unit), while the average price for exports to Serbia ($0.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+39.5%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Imports in Belgium

After three years of growth, purchases abroad of seals; mechanicals decreased by -16.9% to 39M units in 2022. Overall, imports, however, posted significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 80%. As a result, imports attained the peak of 47M units, and then declined rapidly in the following year.

In value terms, seals; mechanical imports declined markedly to $24M in 2022. In general, imports saw a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 6.1% against the previous year. Imports peaked at $32M in 2021, and then shrank significantly in the following year.

Import of Seals; Mechanical in Belgium (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	11.8	11.4	13.7	9.9	-5.7%
Netherlands	4.1	2.7	3.1	3.3	-7.0%
United States	3.7	4.8	4.8	3.1	-5.7%
France	5.9	4.9	4.6	3.0	-20.2%
Italy	0.5	1.0	0.9	0.8	17.0%
China	0.6	0.7	1.0	0.4	-12.6%
Sweden	0.6	0.2	0.4	0.2	-30.7%
Others	2.5	5.8	3.5	2.8	3.8%
Total	29.6	31.4	32.0	23.5	-7.4%

Top Suppliers of Seals; Mechanical to Belgium in 2022:

Germany (24.0M units)
Italy (4.2M units)
United States (2.9M units)
France (2.4M units)
China (2.1M units)
Netherlands (1.3M units)
Sweden (0.3M units)

Seals; Mechanical Exports in Belgium

After three years of growth, shipments abroad of seals; mechanicals decreased by -39.9% to 4.2M units in 2022. In general, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 80%. Over the period under review, the exports hit record highs at 6.9M units in 2021, and then reduced sharply in the following year.

In value terms, seals; mechanical exports contracted notably to $17M in 2022. Overall, exports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2020 when exports increased by 80% against the previous year. The exports peaked at $27M in 2021, and then dropped sharply in the following year.

Export of Seals; Mechanical in Belgium (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	1,125	1,767	3,120	2,151	24.1%
Netherlands	754	1,873	2,538	1,758	32.6%
France	1,789	2,413	2,959	1,687	-1.9%
United States	491	951	1,664	1,620	48.9%
Germany	1,201	1,626	2,251	1,466	6.9%
United Kingdom	450	568	2,036	993	30.2%
Italy	177	359	604	392	30.3%
Turkey	105	255	276	375	52.9%
Argentina	55.3	73.3	99.9	176	47.1%
Switzerland	51.9	102	242	121	32.6%
Democratic Republic of the Congo	365	538	281	79.4	-39.9%
Serbia	72.2	116	104	48.2	-12.6%
Others	3,664	7,899	11,165	6,083	18.4%
Total	10,300	18,541	27,340	16,949	18.1%