Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in South Korea - 2022

Contents:

1. Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in South Korea (CIF) - 2022
2. Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in South Korea (FOB) - 2022
3. Imports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in South Korea
4. Exports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in South Korea

Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in South Korea (CIF) - 2022

In 2022, the average import price for calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 amounted to $106,650 per ton, with an increase of 13% against the previous year. Overall, the import price posted a resilient increase. The pace of growth appeared the most rapid in 2014 when the average import price increased by 92%. Over the period under review, average import prices attained the peak figure at $148,131 per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 Hong Kong SAR ($333,982 per ton), while the price for Taiwan (Chinese) ($50,167 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in South Korea (FOB) - 2022

The average export price for calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 stood at $100,213 per ton in 2022, with a decrease of -62.2% against the previous year. Overall, the export price showed a deep setback. The pace of growth was the most pronounced in 2021 an increase of 108% against the previous year. As a result, the export price attained the peak level of $265,202 per ton, and then contracted sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($397,342 per ton), while the average price for exports to Hungary ($6,015 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 United States (-5.1%), while the prices for the other major destinations experienced a decline.

Imports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in South Korea

In 2022, purchases abroad of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 decreased by -4.2% to 25 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 1,514% against the previous year. As a result, imports reached the peak of 26 tons, and then fell in the following year.

In value terms, imports of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 expanded sharply to $2.7M in 2022. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 1,279% 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 near future.

Top Suppliers of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 to South Korea in 2022:

1. Taiwan (Chinese) (16.5 tons)
2. Vietnam (3.7 tons)
3. Hong Kong SAR (1.6 tons)
4. United States (0.9 tons)
5. Singapore (0.7 tons)
6. United Kingdom (0.7 tons)
7. Malaysia (0.2 tons)

Exports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in South Korea

After two years of decline, overseas shipments of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 increased by 108% to 3.7 tons in 2022. In general, exports, however, continue to indicate a abrupt downturn.

In value terms, exports of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 reduced dramatically to $369K in 2022. Overall, exports, however, showed a sharp curtailment. The smallest decline of -21.3% was in 2021.

Top Export Markets for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 from South Korea in 2022:

1. Hungary (2305.0 kg)
2. United States (1023.0 kg)
3. Indonesia (158.0 kg)
4. Singapore (112.0 kg)
5. Malaysia (83.0 kg)

Source: IndexBox Market Intelligence Platform