Price for Cycles; Parts Thereof, Saddles in Nepal - 2022

Price for Cycles; Parts Thereof, Saddles in Nepal (CIF) - 2022

The average cycles; parts thereof, saddles import price stood at $1 per unit in 2022, almost unchanged from the previous year. In general, the import price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2019 an increase of 104%. As a result, import price reached the peak level of $6.8 per unit. From 2020 to 2022, the average import prices failed to regain momentum.

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 India ($1 per unit), while the price for China totaled $0.6 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.4%).

Imports of Cycles; Parts Thereof, Saddles in Nepal

For the fourth year in a row, Nepal recorded growth in overseas purchases of cycles; parts thereof, saddleses, which increased by 14% to 86K units in 2022. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 1,179% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, cycles; parts thereof, saddles imports rose rapidly to $84K in 2022. Overall, imports posted a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 200%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.