Price for Stones; precious or semi-precious stones (natural, synthetic or reconstructed) articles of in South Korea - 2022
Contents:
- Price for Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of in South Korea (CIF) - 2022
- Price for Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of in South Korea (FOB) - 2022
- Imports of Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of in South Korea
- Exports of Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of in South Korea
Price for Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of in South Korea (CIF) - 2022
In 2022, the average import price for stones; precious or semi-precious stones (natural, synthetic or reconstructed) articles oves amounted to $226,097 per ton, falling by -4.5% against the previous year. Overall, the import price, however, recorded strong growth. The growth pace was the most rapid in 2014 an increase of 48% against the previous year. Over the period under review, average import prices hit record highs at $245,340 per ton in 2017; however, from 2018 to 2022, 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 Vietnam ($650,382 per ton), while the price for China ($34,097 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+25.8%), while the prices for the other major suppliers experienced a decline.
Price for Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of in South Korea (FOB) - 2022
In 2022, the average export price for stones; precious or semi-precious stones (natural, synthetic or reconstructed) articles oves amounted to $370,380 per ton, which is down by -7.8% against the previous year. In general, the export price recorded a pronounced contraction. The pace of growth appeared the most rapid in 2014 when the average export price increased by 24% against the previous year. The export price peaked at $792,408 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($2,933,010 per ton), while the average price for exports to Canada ($101,834 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 Vietnam (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of in South Korea
In 2022, the amount of stones; precious or semi-precious stones (natural, synthetic or reconstructed) articles oves imported into South Korea surged to 105 tons, rising by 16% on 2021 figures. Overall, imports showed a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 65%. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, imports of stones; precious or semi-precious stones (natural, synthetic or reconstructed) articles oves rose significantly to $24M in 2022. In general, imports enjoyed significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 94% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | N/A | 0.5 | 2.2 | 3.5 | 164.6% |
| Thailand | N/A | 2.9 | 4.9 | 3.0 | 1.7% |
| China | 1.2 | 1.2 | 2.3 | 2.8 | 32.6% |
| United States | 1.8 | 1.4 | 1.6 | 2.2 | 6.9% |
| Israel | 0.7 | 0.7 | 1.6 | 2.1 | 44.2% |
| Others | 3.4 | 4.3 | 8.8 | 10.3 | 44.7% |
| Total | 7.1 | 11.0 | 21.4 | 23.8 | 49.7% |
Top Suppliers of Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of to South Korea in 2022:
- China (82.3 tons)
- Thailand (9.4 tons)
- Vietnam (5.4 tons)
- Israel (1.4 tons)
- United States (1.2 tons)
Exports of Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of in South Korea
After three years of growth, overseas shipments of stones; precious or semi-precious stones (natural, synthetic or reconstructed) articles oves decreased by -7.6% to 58 tons in 2022. The total export volume increased at an average annual rate of +7.0% 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 2020 with an increase of 24% against the previous year.
In value terms, exports of stones; precious or semi-precious stones (natural, synthetic or reconstructed) articles oves dropped to $21M in 2022. Overall, exports saw a pronounced curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 7.9% against the previous year. As a result, the exports reached the peak of $25M, and then shrank in the following year.
| Export of Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 0.2 | 0.4 | 5.0 | 6.9 | 225.5% |
| United States | 8.6 | 7.7 | 6.7 | 5.1 | -16.0% |
| Germany | 6.6 | 4.9 | 4.1 | 3.3 | -20.6% |
| Japan | 3.0 | 2.9 | 2.8 | 1.3 | -24.3% |
| China | 2.5 | 3.6 | 2.0 | 0.9 | -28.9% |
| Malaysia | N/A | N/A | N/A | 0.2 | 0% |
| Indonesia | 1.6 | 1.7 | 0.7 | 0.1 | -60.3% |
| Others | 2.4 | 2.0 | 3.7 | 3.7 | 15.5% |
| Total | 25.0 | 23.3 | 25.2 | 21.4 | -5.1% |
Top Export Markets for Stones; Precious or Semi-Precious Stones (Natural, Synthetic or Reconstructed) Articles of from South Korea in 2022:
- Vietnam (29.7 tons)
- United States (19.5 tons)
- Japan (1.5 tons)
- Germany (1.5 tons)
- Malaysia (1.0 tons)
- China (0.7 tons)
- Indonesia (0.4 tons)
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