Price for Handbags with Outer Surface of Leather, Composition Leather, or Patent Leather in South Korea - 2022

Contents:

1. Price for Handbags with Outer Surface of Leather, Composition Leather, or Patent Leather in South Korea (CIF) - 2022
2. Price for Handbags with Outer Surface of Leather, Composition Leather, or Patent Leather in South Korea (FOB) - 2022
3. Imports of Handbags with Outer Surface of Leather, Composition Leather, or Patent Leather in South Korea
4. Exports of Handbags with Outer Surface of Leather, Composition Leather, or Patent Leather in South Korea

Price for Handbags with Outer Surface of Leather, Composition Leather, or Patent Leather in South Korea (CIF) - 2022

In 2022, the average import price for handbags with outer surface of leather, composition leather, or patent leathers amounted to $180 per unit, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 48%. Over the period under review, average import prices hit record highs at $230 per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($423 per unit), while the price for China ($23 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (-1.9%), while the prices for the other major suppliers experienced a decline.

Price for Handbags with Outer Surface of Leather, Composition Leather, or Patent Leather in South Korea (FOB) - 2022

In 2022, the average export price for handbags with outer surface of leather, composition leather, or patent leathers amounted to $107 per unit, reducing by -3.3% against the previous year. In general, the export price, however, continues to indicate pronounced growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 161% against the previous year. The export price peaked at $187 per unit in 2014; however, from 2015 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 Hong Kong SAR ($791 per unit), while the average price for exports to Pakistan ($0.3 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 Hong Kong SAR (+28.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Handbags with Outer Surface of Leather, Composition Leather, or Patent Leather in South Korea

Imports of handbags with outer surface of leather, composition leather, or patent leathers into South Korea rose rapidly to 8.1M units in 2022, growing by 7.2% against the previous year. The total import volume increased at an average annual rate of +12.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 20%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, imports of handbags with outer surface of leather, composition leather, or patent leathers expanded notably to $1.5B in 2022. Overall, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +15.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29%. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Handbags with Outer Surface of Leather, Composition Leather, or Patent Leather to South Korea in 2022:

1. Italy (3.1M units)
2. China (3.0M units)
3. France (0.9M units)
4. Romania (0.2M units)
5. Vietnam (0.2M units)
6. Spain (0.2M units)

Exports of Handbags with Outer Surface of Leather, Composition Leather, or Patent Leather in South Korea

In 2022, the amount of handbags with outer surface of leather, composition leather, or patent leathers exported from South Korea soared to 1.1M units, jumping by 37% against the previous year. In general, exports posted a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 118%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of handbags with outer surface of leather, composition leather, or patent leathers surged to $115M in 2022. Over the period under review, exports enjoyed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 91% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the near future.

Top Export Markets for Handbags with Outer Surface of Leather, Composition Leather, or Patent Leather from South Korea in 2022:

1. China (151.3K units)
2. Singapore (143.3K units)
3. Pakistan (142.4K units)
4. United States (86.5K units)
5. Japan (71.9K units)
6. Germany (68.5K units)
7. Philippines (45.6K units)
8. United Kingdom (41.8K units)
9. Canada (39.7K units)
10. Hong Kong SAR (33.9K units)
11. Italy (26.1K units)
12. Netherlands (20.0K units)

Source: IndexBox Market Intelligence Platform