Price for Electric Motors; of an Output Not Exceeding 37.5W in Turkey - 2024
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Turkey (CIF) - 2024
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Turkey (FOB) - 2022
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Turkey
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Turkey
Price for Electric Motors; of an Output Not Exceeding 37.5W in Turkey (CIF) - 2024
The average import price for electric motors stood at $3.4 per unit in January 2024, waning by -18.5% against the previous month. Overall, the import price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in April 2023 an increase of 12% month-to-month. As a result, import price attained the peak level of $4.4 per unit. From May 2023 to January 2024, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was Switzerland ($22.8 per unit), while the price for China ($1.9 per unit) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Switzerland (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electric Motors; of an Output Not Exceeding 37.5W in Turkey (FOB) - 2022
The average export price for electric motors stood at $12 per unit in 2022, shrinking by -8.8% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 39%. As a result, the export price reached the peak level of $18 per unit. From 2015 to 2022, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($33 per unit), while the average price for exports to Morocco ($2.6 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 (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Turkey
In 2022, after three years of growth, there was significant decline in overseas purchases of electric motors, when their volume decreased by -18.2% to 55M units. The total import volume increased at an average annual rate of +3.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 18%. As a result, imports attained the peak of 67M units, and then fell significantly in the following year.
In value terms, imports of electric motors fell to $228M in 2022. The total import value increased at an average annual rate of +6.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 25%. As a result, imports attained the peak of $247M, and then declined in the following year.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 63.9 | 74.1 | 98.0 | 89.5 | 11.9% |
| Germany | 16.0 | 13.5 | 16.3 | 17.2 | 2.4% |
| Switzerland | 9.8 | 10.5 | 13.8 | 15.5 | 16.5% |
| Thailand | 10.9 | 10.3 | 11.3 | 13.4 | 7.1% |
| France | 13.5 | 12.9 | 13.1 | 11.2 | -6.0% |
| Japan | 8.2 | 7.6 | 8.5 | 10.4 | 8.2% |
| Slovenia | 2.0 | 3.3 | 9.4 | 6.7 | 49.6% |
| South Korea | 5.6 | 5.3 | 5.9 | 6.2 | 3.5% |
| Serbia | 6.9 | 4.6 | 5.3 | 5.9 | -5.1% |
| Vietnam | 1.7 | 5.0 | 7.5 | 5.7 | 49.7% |
| Italy | 6.4 | 5.9 | 5.9 | 5.1 | -7.3% |
| Austria | 6.5 | 5.9 | 6.4 | 3.7 | -17.1% |
| Others | 38.9 | 39.7 | 45.9 | 37.6 | -1.1% |
| Total | 190 | 199 | 247 | 228 | 6.3% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Turkey in 2022:
- China (35.2M units)
- Thailand (2.4M units)
- Germany (2.0M units)
- Austria (1.8M units)
- Switzerland (1.6M units)
- Japan (1.2M units)
- France (1.2M units)
- Slovenia (1.2M units)
- Serbia (1.1M units)
- Italy (1.0M units)
- Vietnam (1.0M units)
- South Korea (0.9M units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Turkey
In 2022, exports of electric motors from Turkey soared to 1.1M units, with an increase of 39% against the year before. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +15.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.6% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of electric motors surged to $13M in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +19.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +71.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 36% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 391 | 898 | 1,571 | 2,249 | 79.2% |
| Brazil | 268 | 1,107 | 1,927 | 1,906 | 92.3% |
| Iran | 1,220 | 888 | 979 | 802 | -13.0% |
| Germany | 593 | 689 | 736 | 665 | 3.9% |
| Uzbekistan | 523 | 365 | 326 | 572 | 3.0% |
| United Kingdom | 166 | 137 | 249 | 418 | 36.0% |
| Italy | 249 | 147 | 194 | 391 | 16.2% |
| Poland | 62.3 | 115 | 83.0 | 283 | 65.6% |
| Egypt | 69.9 | 31.6 | 92.6 | 280 | 58.8% |
| Ukraine | 111 | 120 | 114 | 256 | 32.1% |
| China | 82.9 | 138 | 272 | 239 | 42.3% |
| Greece | 45.7 | 29.9 | 150 | 154 | 49.9% |
| Morocco | 154 | 88.6 | 142 | 78.2 | -20.2% |
| Others | 3,957 | 3,080 | 3,793 | 5,161 | 9.3% |
| Total | 7,893 | 7,834 | 10,627 | 13,455 | 19.5% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Turkey in 2022:
- Brazil (261.8K units)
- Iran (105.1K units)
- Uzbekistan (83.9K units)
- China (78.3K units)
- Russia (67.8K units)
- United Kingdom (55.6K units)
- Egypt (39.8K units)
- Germany (38.5K units)
- Italy (36.2K units)
- Poland (34.5K units)
- Morocco (30.6K units)
- Greece (20.6K units)
- Ukraine (19.9K units)
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