Germany's Hydraulic Jack Export in June 2023 Declines by $16M

Germany

In June 2023, Germany experienced a minor decrease in its hydraulic jack exports, resulting in a decline of $16M. The number of hydraulic jacks and hoists for raising vehicles exported from Germany decreased to 80K units, marking a decrease of -7.6% compared to the previous month. While the exports showed a slight descent overall, they experienced significant growth in September 2022 with a 31% increase from the previous month. However, from April 2023 to June 2023, the exports failed to regain momentum after reaching a peak figure of 98K units in March 2023. In terms of value, hydraulic jack exports decreased modestly to $16M in June 2023. The total export value showed an average monthly rate of +1.6% growth from June 2022 to June 2023, with noticeable fluctuations in certain months. The most prominent growth rate was recorded in March 2023 with a 14% increase month-on-month. The exports hit their peak at 16M units in May 2023 but slightly declined in the following month. The main destinations for Germany's hydraulic jack exports were the United States, France, and Poland, accounting for a combined 41% share of total exports. The United States saw the largest increase in shipments with a CAGR of +3.6% from June 2022 to June 2023, while the other leading destinations experienced mixed trend patterns. France, the United States, and the UK constituted the largest markets for hydraulic jack exports from Germany in terms of value, making up 38% of total exports. France witnessed the highest growth rate at +7.8% in terms of export value among the main destination countries. The average export price of hydraulic jacks in June 2023 stood at $200 per unit (FOB, Germany), showing a 7.6% increase compared to the previous month. Over the last twelve months, the average export price had an average monthly growth rate of +2.7%, with the most rapid growth recorded in August 2022 at 18% month-on-month. Prices varied across countries, with Japan having the highest price ($368 per unit) and Slovakia having one of the lowest prices ($35.6 per unit). In terms of prices, Turkey experienced the most notable growth rate at +5.5% from June 2022 to June 2023 among the major destinations, while other destinations saw more modest growth rates.

Source: IndexBox Market Intelligence Platform

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