Top-5 driving markets of manufactured goods in 2023
Turkey, Mexico, Saudi Arabia, Poland, United Arab Emirates are the main markets for 2023 increases in global sales (thanks above all to the excellent results of the automotive supply chain)
Published by Marcello Antonioni. .
Conjuncture Export Export markets Foreign markets Foreign market analysis
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World trade data for the fourth quarter of 2023 (StudiaBo pre-estimates), available in the System Informative ExportPlanning, allow you to draw an initial assessment of 2023 with reference to the main markets driving global exports of manufactured goods.
Note that, in the measurement at constant prices1, just over half of the international markets (53%) showed an average annual result of growth of world sales of manufactured goods.
However, the average annual declines, when measured at constant prices, in the first market (United States: -2.7%, equal to - 50.8 billion euros) and the third market (China: -9.6%, equal to -190.9 billion euros) for sales from the world of manufactured goods2.
Main markets driving global exports of manufactured goods in 2023
The table below shows the top 5 markets for increases (delta) in 2023, measured at constant prices, in global sales of manufactured goods.
Top-5 driving markets of manufactured goods exported in 2023
| Levels (Bn €) | 2023/2022 changes at constant prices | ||
| Market | 2023E | Delta (M €) | % |
| TURKEY | 190.5 | +20 999 | +19.9 |
|---|---|---|---|
| MEXICO | 474.2 | +18 476 | + 6.3 |
| SAUDI ARABIA | 181.2 | +11 931 | +14.2 |
| POLAND | 264.0 | +10 301 | + 5.0 |
| UNITED ARAB EMIRATES | 240.9 | + 9 644 | + 7.2 |
Source: ExportPlanning-World Trade Datamart
TURKEY
The Turkish market was the main market driving global exports of manufactured goods in 2023 (pre-estimates), with an increase close to 21 billion euros (a constant prices), for a percentage change close to 20 percentage points.
The sectors of the automotive supply chain drove global sales on the Turkish market last year ; in particular: cars, buses and caravans3 +6.9 billion euros (at constant prices), equal at +113.6%; road freight vehicles and trailers4 +1046 million euros (+46.3%); non-electrical parts and accessories for motor vehicles5 +929 million euros, equal to +17.9 percent.
It should be underlined, in particular, the growth performance of global exports of vehicles with electric engines, which on the Turkish market recorded an average annual increase of approximately 179 percentage points in the pre-estimates 2023 (for a value, at constant prices, of over 2.2 billion euros).
MEXICO
Even in the case of the Mexican market, the second international market in 2023 for absolute (pre-final) increases in foreign sales of manufactured goods, the automotive supply chain was the driving force: sales of cars, buses and caravans increased by over 4.5 billion euros (at constant prices), equal to +45.4 percent; those of non-electrical parts and accessories for motor vehicles by another 2.5 billion euros; sales of road freight vehicles and trailers of over 1.6 billion euros (+38.3%); those of earthmoving machinery6 of almost 1.3 billion euros (+84.2%).
In particular, we note - also on this market - the strong positive contribution of the sales of vehicles with electric motors , which grew last year by over 1.1 billion euros (at constant prices), equal to +144 percent.
It should also be noted the notable performance of sales on the Mexican market of drugs7 (+1.1 billion euros at constant prices, equal to +23.2%).
SAUDI ARABIA
The Saudi market, the third destination for absolute increases in global exports of manufactured goods in 2023, has also seen particularly accelerated dynamics of automotive supply chain: cars, buses and caravans +2.1 billion euros (at prices constant), aircraft and other aircraft8 +1.1 billion euros (equal to +67.3%), road freight vehicles and trailers +1 billion euros (equal to +46.7%), engines and other components for aircraft9 +557 million euros (+44.6%) and earthmoving machinery +507 million euros (+37.2%).
We also note the strong increases, measured at constant prices, in sales aimed at the Saudi market of communications equipment10 (+940 million euros, equal to +38.4%) and valves, tubes, diodes and electronic boards11 (+831 million euros, with a jump of 295 percentage points).
POLAND
The Polish market, in 2023 the first EU market for absolute increases in foreign sales of manufactured goods, last year highlighted favorable dynamics not only in the automotive supply chain (cars, buses and caravans: +2.8 billion euros, at constant prices; non-electrical parts and accessories for motor vehicles: +1.4 billion euros ; engines and chassis for motor vehicles12: +773 million euros, equal to +44.1%), but also in the pharmaceuticals (+1 billion euros, at constant prices), in the fashion industry (outer clothing13: +977 million euros) and in the ICT industry (equipment for communications: +699 million euros).
UNITED ARAB EMIRATES
During 2023, the Emirate market expressed the greatest growth performance in sales from the world, measured at constant prices, of jewellery, watches and costume jewellery14 (+3.4 billion euros, equal to +26.2%), cars, buses and caravans (+2.7 billion euros, equal to +23.3%) and, to a lesser extent, communications equipment (+732 million euro), ships and boats15 (+494 million €), earthmoving machinery (+487 million €), engines and other components for airplanes (+450 million €).
Conclusions
The map of international markets in 2023 has highlighted very heterogeneous cases: in the face of markets that are also experiencing a significant decline in sales from the world of manufactured goods (in addition to cases of China and USA, numerous Asian markets worth mentioning: Japan, Vietnam, South Korea, Philippines, Malaysia, Singapore, Hong Kong span>, Taiwan), are seen - on the other hand - particularly resilient markets on average in 2023, like those documented in this article.
In order to monitor in real time the evolution of international markets of interest for a specific business area, ExportPlanning makes the series of services available to exporting companies Market Insights.
1) Measuring the dynamics of world exports at constant prices can provide a robust measure of the demand cycle of the various markets, as it purifies the values from the "price" component, which tends to have dynamics also governed by other factors (inflation, currency dynamics, etc.).
2) As regards the second international market for sales of manufactured goods in the world, Germany, the preliminary 2023 data indicate a substantial stability (+0.4% constant prices) compared to 2022.
3) For a description of the products included therein, see the relative sector profile.
4) For a description of the products included therein, see the relative sector profile.
5) For a description of the products included therein, see the relative sector profile.
6) For a description of the products included therein, see the relative sector profile.
7) For a description of the products included therein, see the relative sector profile.
8) For a description of the products included therein, see the relative sector profile.
9) For a description of the products included therein, see the relative sector profile.
10) For a description of the products included therein, see the relative sector profile.
11) For a description of the products included therein, see the relative sector profile.
12) For a description of the products included therein, see the relative sector profile.
13) For a description of the products included therein, see the relative sector profile.
14) For a description of the products included therein, see the relative sector profile.
15) For a description of the products included therein, see the relative sector profile.
