Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in South Korea - 2022
Contents:
- Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in South Korea (FOB) - 2022
- Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in South Korea (CIF) - 2022
- Exports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in South Korea
- Imports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in South Korea
Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in South Korea (FOB) - 2022
The average export price for machines and mechanical appliances; parts, of those having individual functionses stood at $29,873 per ton in 2022, jumping by 20% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for machines and mechanical appliances; parts, of those having individual functionses increased by +32.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 30%. As a result, the export price reached the peak level of $33,273 per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($53,303 per ton), while the average price for exports to Japan ($8,530 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in South Korea (CIF) - 2022
The average import price for machines and mechanical appliances; parts, of those having individual functionses stood at $38,239 per ton in 2022, growing by 8.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2013 an increase of 17% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($141,831 per ton), while the price for China ($13,369 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in South Korea
In 2022, shipments abroad of machines and mechanical appliances; parts, of those having individual functionses decreased by -11.7% to 44K tons, falling for the second consecutive year after two years of growth. Over the period under review, total exports indicated resilient growth 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 decreased by -20.0% against 2020 indices. The growth pace was the most rapid in 2020 when exports increased by 94% against the previous year. As a result, the exports attained the peak of 55K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of machines and mechanical appliances; parts, of those having individual functionses expanded remarkably to $1.3B in 2022. In general, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +21.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 71%. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 53.3 | 94.4 | 162 | 302 | 78.3% |
| China | 170 | 233 | 242 | 219 | 8.8% |
| Vietnam | 72.0 | 179 | 117 | 167 | 32.4% |
| Japan | 120 | 159 | 153 | 151 | 8.0% |
| France | 15.0 | 83.1 | 66.7 | 90.7 | 82.2% |
| Singapore | 39.0 | 84.8 | 102 | 59.2 | 14.9% |
| India | 22.0 | 41.1 | 31.5 | 49.7 | 31.2% |
| Poland | 3.1 | 52.1 | 43.5 | 48.4 | 149.9% |
| Hungary | 47.4 | 51.4 | 50.4 | 32.8 | -11.5% |
| Philippines | 44.9 | 31.5 | 35.5 | 31.7 | -11.0% |
| Malaysia | 7.4 | 14.1 | 34.2 | 15.6 | 28.2% |
| Others | 129 | 216 | 202 | 145 | 4.0% |
| Total | 723 | 1,239 | 1,240 | 1,311 | 21.9% |
Top Export Markets for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions from South Korea in 2022:
- Japan (17.7K tons)
- United States (6.4K tons)
- China (6.1K tons)
- Vietnam (3.5K tons)
- France (1.9K tons)
- India (1.3K tons)
- Singapore (1.2K tons)
- Philippines (1.1K tons)
- Poland (0.9K tons)
- Malaysia (0.4K tons)
- Hungary (0.4K tons)
Imports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in South Korea
In 2022, purchases abroad of machines and mechanical appliances; parts, of those having individual functionses decreased by -12.9% to 15K tons, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +18.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.5% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 100%. As a result, imports reached the peak of 18K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of machines and mechanical appliances; parts, of those having individual functionses reduced to $554M in 2022. Overall, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 96%.
| Import of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 71.4 | 174 | 167 | 150 | 28.1% |
| China | 40.0 | 81.7 | 84.9 | 91.2 | 31.6% |
| United Kingdom | 17.4 | 26.4 | 44.0 | 58.4 | 49.7% |
| United States | 30.4 | 53.1 | 60.1 | 56.7 | 23.1% |
| Germany | 18.8 | 55.5 | 56.1 | 49.4 | 38.0% |
| Norway | 28.4 | 13.0 | 38.3 | 15.9 | -17.6% |
| Vietnam | 2.2 | 6.1 | 7.4 | 11.8 | 75.0% |
| Slovakia | 0.1 | 5.9 | 13.2 | 11.6 | 387.7% |
| Italy | 22.9 | 28.3 | 26.1 | 9.7 | -24.9% |
| Poland | 2.1 | 2.6 | 1.8 | 9.1 | 63.0% |
| Singapore | 2.0 | 10.4 | 5.5 | 4.9 | 34.8% |
| Others | 38.0 | 79.0 | 83.8 | 85.2 | 30.9% |
| Total | 274 | 536 | 588 | 554 | 26.5% |
Top Suppliers of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions to South Korea in 2022:
- China (6.8K tons)
- Japan (2.0K tons)
- United Kingdom (0.7K tons)
- Germany (0.7K tons)
- United States (0.6K tons)
- Vietnam (0.6K tons)
- Singapore (0.4K tons)
- Slovakia (0.4K tons)
- Norway (0.4K tons)
- Poland (0.3K tons)
- Italy (0.2K tons)
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