Price for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in South Korea - 2022
Contents:
- Price for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in South Korea (CIF) - 2022
- Price for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in South Korea (FOB) - 2022
- Imports of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in South Korea
- Exports of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in South Korea
Price for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in South Korea (CIF) - 2022
In December 2022, the average import price for furniture; of cane, osier, or similar materials (other than bamboo or rattan) amounted to $2,820 per ton, waning by -7.5% against the previous month. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 an increase of 18% m-o-m. As a result, import price reached the peak level of $3,675 per ton. From April 2022 to December 2022, the average import prices remained at a lower figure.
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 -0.8% per month.
Price for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in South Korea (FOB) - 2022
The average export price for furniture; of cane, osier, or similar materials (other than bamboo or rattan) stood at $3,000 per ton in December 2022, shrinking by -3.9% against the previous month. In general, the export price saw a pronounced descent. The pace of growth appeared the most rapid in May 2022 when the average export price increased by 7.9% month-to-month. The export price peaked at $4,143 per ton in January 2022; however, from February 2022 to December 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was Japan ($4,077 per ton), while the average price for exports to the Philippines ($491 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in South Korea
After three years of growth, supplies from abroad of furniture; of cane, osier, or similar materials (other than bamboo or rattan) decreased by -13.1% to 28K tons in 2022. The total import volume increased at an average annual rate of +6.5% 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 22%. As a result, imports attained the peak of 33K tons, and then dropped in the following year.
In value terms, imports of furniture; of cane, osier, or similar materials (other than bamboo or rattan) declined to $89M in 2022. The total import value increased at an average annual rate of +9.0% 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 when imports increased by 24%. As a result, imports reached the peak of $100M, and then contracted in the following year.
| Import of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 60.2 | 66.4 | 86.8 | 77.0 | 8.6% |
| Others | 8.8 | 14.1 | 13.0 | 12.4 | 12.1% |
| Total | 69.1 | 80.5 | 99.8 | 89.5 | 9.0% |
Top Suppliers of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) to South Korea in 2022:
- China (27.5K tons)
Exports of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in South Korea
In 2022, after three years of growth, there was significant decline in overseas shipments of furniture; of cane, osier, or similar materials (other than bamboo or rattan), when their volume decreased by -25.8% to 9.2K tons. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 27%.
In value terms, exports of furniture; of cane, osier, or similar materials (other than bamboo or rattan) reduced notably to $32M in 2022. Over the period under review, exports saw a pronounced reduction. The pace of growth was the most pronounced in 2020 when exports increased by 23%.
| Export of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 26.0 | 35.5 | 38.2 | 24.5 | -2.0% |
| Mexico | 1.1 | 1.7 | 1.8 | 2.4 | 29.7% |
| Canada | 1.7 | 1.8 | 2.1 | 2.0 | 5.6% |
| Philippines | 1.2 | 0.9 | 1.7 | 1.4 | 5.3% |
| Others | 5.8 | 4.1 | 2.3 | 2.3 | -26.5% |
| Total | 35.7 | 44.0 | 46.2 | 32.5 | -3.1% |
Top Export Markets for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) from South Korea in 2022:
- United States (5.6K tons)
- Philippines (2.2K tons)
- Mexico (0.8K tons)
- Canada (0.4K tons)
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