Price for Clock Movements; Complete and Assembled in South Korea - 2022
Contents:
- Price for Clock Movements; Complete and Assembled in South Korea (CIF) - 2022
- Price for Clock Movements; Complete and Assembled in South Korea (FOB) - 2022
- Imports of Clock Movements; Complete and Assembled in South Korea
- Exports of Clock Movements; Complete and Assembled in South Korea
Price for Clock Movements; Complete and Assembled in South Korea (CIF) - 2022
In December 2022, the average import price for clock movements; complete and assembleds amounted to $6.4 per unit, rising by 26% against the previous month. Overall, import price indicated a slight expansion from December 2021 to December 2022: its price increased at an average monthly rate of +1.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, clock movements; complete and assembled import price increased by +48.5% against September 2022 indices. The pace of growth appeared the most rapid in April 2022 when the average import price increased by 62% m-o-m. As a result, import price attained the peak level of $8.0 per unit. From May 2022 to December 2022, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for China.
From December 2021 to December 2022, the rate of growth in terms of prices for China amounted to +1.8% per month.
Price for Clock Movements; Complete and Assembled in South Korea (FOB) - 2022
In 2022, the average export price for clock movements; complete and assembleds amounted to $3.5 per unit, shrinking by -83.9% against the previous year. Overall, the export price recorded a abrupt slump. The pace of growth was the most pronounced in 2019 when the average export price increased by 22%. The export price peaked at $31 per unit in 2012; however, from 2013 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 Germany ($40 per unit), while the average price for exports to China ($12 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+16.4%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Clock Movements; Complete and Assembled in South Korea
In 2022, purchases abroad of clock movements; complete and assembleds decreased by -18.7% to 237K units for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 1,301% against the previous year. Imports peaked at 291K units in 2021, and then reduced markedly in the following year.
In value terms, clock movements; complete and assembled imports reduced remarkably to $1.4M in 2022. Over the period under review, imports saw a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year. As a result, imports reached the peak of $1.7M, and then declined remarkably in the following year.
| Import of Clock Movements; Complete and Assembled in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.4 | 1.3 | 1.6 | 1.3 | -2.4% |
| Others | 0.2 | 0.1 | 0.1 | N/A | -29.3% |
| Total | 1.6 | 1.4 | 1.7 | 1.4 | -4.4% |
Top Suppliers of Clock Movements; Complete and Assembled to South Korea in 2022:
- China (230.3K units)
Exports of Clock Movements; Complete and Assembled in South Korea
In 2022, after two years of decline, there was significant growth in shipments abroad of clock movements; complete and assembleds, when their volume increased by 1,082% to 207K units. Over the period under review, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, clock movements; complete and assembled exports soared to $736K in 2022. In general, total exports indicated temperate growth from 2019 to 2022: its value increased at an average annual rate of +4.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Clock Movements; Complete and Assembled in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 38.6 | 84.4 | 95.5 | 497 | 134.4% |
| Netherlands | 436 | 288 | 104 | 177 | -26.0% |
| China | 24.5 | 13.1 | 18.3 | 59.7 | 34.6% |
| United States | 51.4 | 47.9 | 3.6 | 0.5 | -78.7% |
| Others | 91.2 | 110 | 165 | 1.3 | -75.8% |
| Total | 641 | 543 | 387 | 736 | 4.7% |
Top Export Markets for Clock Movements; Complete and Assembled from South Korea in 2022:
- United States (undefinedK units)
- Germany (12.4K units)
- Netherlands (6.1K units)
- China (5.2K units)
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