Price for Clocks; with Watch Movements, Excluding Instrument Panel Clocks, Battery or Accumulator Powered in South Korea - 2022

Contents:

1. Price for Clocks; with Watch Movements, Excluding Instrument Panel Clocks, Battery or Accumulator Powered in South Korea (CIF) - 2022
2. Price for Clocks; with Watch Movements, Excluding Instrument Panel Clocks, Battery or Accumulator Powered in South Korea (FOB) - 2022
3. Imports of Clocks; with Watch Movements, Excluding Instrument Panel Clocks, Battery or Accumulator Powered in South Korea
4. Exports of Clocks; with Watch Movements, Excluding Instrument Panel Clocks, Battery or Accumulator Powered in South Korea

Price for Clocks; with Watch Movements, Excluding Instrument Panel Clocks, Battery or Accumulator Powered in South Korea (CIF) - 2022

In 2022, the average import price for clocks; with watch movements, excluding instrument panel clocks, battery or accumulator powereds amounted to $17 per unit, which is down by -72.1% against the previous year. Overall, the import price, however, recorded a strong increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by 341% against the previous year. The import price peaked at $59 per unit in 2021, and then declined rapidly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Italy ($16 per unit) and China ($16 per unit), while the price for Taiwan (Chinese) ($14 per unit) and Japan ($16 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+33.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Clocks; with Watch Movements, Excluding Instrument Panel Clocks, Battery or Accumulator Powered in South Korea (FOB) - 2022

The average export price for clocks; with watch movements, excluding instrument panel clocks, battery or accumulator powereds stood at less than $0.1 per unit in 2022, declining by -99.8% against the previous year. In general, the export price faced a precipitous curtailment. The pace of growth was the most pronounced in 2014 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices attained the peak figure at $63 per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Japan.

From 2012 to 2022, the rate of growth in terms of prices for Myanmar amounted to -24.2% per year.

Imports of Clocks; with Watch Movements, Excluding Instrument Panel Clocks, Battery or Accumulator Powered in South Korea

In 2022, the amount of clocks; with watch movements, excluding instrument panel clocks, battery or accumulator powereds imported into South Korea surged to 15K units, picking up by 18% compared with 2021 figures. Overall, imports showed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 325%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, imports of clocks; with watch movements, excluding instrument panel clocks, battery or accumulator powereds fell dramatically to $247K in 2022. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 640% against the previous year. As a result, imports reached the peak of $753K, and then reduced markedly in the following year.

Top Suppliers of Clocks; with Watch Movements, Excluding Instrument Panel Clocks, Battery or Accumulator Powered to South Korea in 2022:

1. Switzerland (8.4K units)
2. Italy (6.0K units)
3. China (0.2K units)

Exports of Clocks; with Watch Movements, Excluding Instrument Panel Clocks, Battery or Accumulator Powered in South Korea

In 2022, approx. 878 units of clocks; with watch movements, excluding instrument panel clocks, battery or accumulator powereds were exported from South Korea; with an increase of 12% against the previous year's figure. Over the period under review, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of clocks; with watch movements, excluding instrument panel clocks, battery or accumulator powereds declined markedly to $42 in 2022. Overall, exports, however, showed a significant decline. Over the period under review, the exports of hit record highs at $17K in 2021, and then reduced remarkably in the following year.

Top Export Markets for Clocks; with Watch Movements, Excluding Instrument Panel Clocks, Battery or Accumulator Powered from South Korea in 2022:

1. Japan (878.0 units)

Source: IndexBox Market Intelligence Platform