Price for Agriculture or Forestry Hand Tools in South Korea - 2022

Contents:

1. Price for Agriculture or Forestry Hand Tools in South Korea (CIF) - 2022
2. Price for Agriculture or Forestry Hand Tools in South Korea (FOB) - 2022
3. Imports of Agriculture or Forestry Hand Tools in South Korea
4. Exports of Agriculture or Forestry Hand Tools in South Korea

Price for Agriculture or Forestry Hand Tools in South Korea (CIF) - 2022

The average import price for agriculture or forestry hand toolses stood at $3,839 per ton in December 2022, shrinking by -26.8% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in January 2022 when the average import price increased by 29% m-o-m. Over the period under review, average import prices hit record highs at $5,451 per ton in February 2022; however, from March 2022 to December 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($25,110 per ton), while the price for China totaled $2,771 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (-0.2%).

Price for Agriculture or Forestry Hand Tools in South Korea (FOB) - 2022

The average export price for agriculture or forestry hand toolses stood at $5,944 per ton in 2022, declining by -5.5% against the previous year. Over the period under review, the export price, however, posted a pronounced increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 43% against the previous year. Over the period under review, the average export prices attained the peak figure at $6,726 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($12,876 per ton), while the average price for exports to Sierra Leone ($816 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 Saudi Arabia (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Agriculture or Forestry Hand Tools in South Korea

In 2022, after three years of growth, there was significant decline in supplies from abroad of agriculture or forestry hand toolses, when their volume decreased by -5.6% to 5.4K tons. The total import volume increased at an average annual rate of +8.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 19%.

In value terms, agriculture or forestry hand tools imports shrank to $19M in 2022. The total import value increased at an average annual rate of +10.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. As a result, imports attained the peak of $21M, and then reduced in the following year.

Top Suppliers of Agriculture or Forestry Hand Tools to South Korea in 2022:

1. China (5.1K tons)
2. Japan (0.2K tons)

Exports of Agriculture or Forestry Hand Tools in South Korea

In 2022, after three years of growth, there was significant decline in overseas shipments of agriculture or forestry hand toolses, when their volume decreased by -18.8% to 434 tons. The total export volume increased at an average annual rate of +4.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 31% against the previous year. As a result, the exports reached the peak of 534 tons, and then reduced notably in the following year.

In value terms, agriculture or forestry hand tools exports contracted markedly to $2.6M in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +8.4% 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 +43.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 87% against the previous year. As a result, the exports attained the peak of $3.4M, and then shrank markedly in the following year.

Top Export Markets for Agriculture or Forestry Hand Tools from South Korea in 2022:

1. Guinea (94.3 tons)
2. United States (56.5 tons)
3. Ireland (48.5 tons)
4. Panama (34.8 tons)
5. Saudi Arabia (19.3 tons)
6. Nigeria (14.1 tons)
7. Spain (13.1 tons)
8. Sierra Leone (12.7 tons)
9. Iran (11.3 tons)
10. Canada (10.5 tons)
11. India (10.0 tons)
12. China (8.9 tons)
13. Japan (7.9 tons)

Source: IndexBox Market Intelligence Platform