Price for Machines; Automatic Beverage-Vending Machines, Incorporating Heating or Refrigerating Devices in South Korea - 2022

Contents:

1. Price for Machines; Automatic Beverage-Vending Machines, Incorporating Heating or Refrigerating Devices in South Korea (CIF) - 2022
2. Price for Machines; Automatic Beverage-Vending Machines, Incorporating Heating or Refrigerating Devices in South Korea (FOB) - 2022
3. Imports of Machines; Automatic Beverage-Vending Machines, Incorporating Heating or Refrigerating Devices in South Korea
4. Exports of Machines; Automatic Beverage-Vending Machines, Incorporating Heating or Refrigerating Devices in South Korea

Price for Machines; Automatic Beverage-Vending Machines, Incorporating Heating or Refrigerating Devices in South Korea (CIF) - 2022

In 2022, the average import price for machines; automatic beverage-vending machines, incorporating heating or refrigerating deviceses amounted to $2,254 per unit, picking up by 4.4% against the previous year. In general, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for machines; automatic beverage-vending machines, incorporating heating or refrigerating deviceses increased by +23.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 66% against the previous year. The import price peaked at $2,393 per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Italy ($2,258 per unit), while the price for the United States ($673 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Machines; Automatic Beverage-Vending Machines, Incorporating Heating or Refrigerating Devices in South Korea (FOB) - 2022

The average export price for machines; automatic beverage-vending machines, incorporating heating or refrigerating deviceses stood at $2,441 per unit in 2022, flattening at the previous year. Overall, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for machines; automatic beverage-vending machines, incorporating heating or refrigerating deviceses increased by +2.2% against 2018 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 42%. Over the period under review, the average export prices attained the peak figure at $2,461 per unit in 2021, and then declined slightly 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 China ($2,539 per unit), while the average price for exports to Japan ($397 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 Jordan (+85.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines; Automatic Beverage-Vending Machines, Incorporating Heating or Refrigerating Devices in South Korea

Imports of machines; automatic beverage-vending machines, incorporating heating or refrigerating deviceses into South Korea surged to 1.6K units in 2022, picking up by 63% compared with 2021 figures. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 73%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of machines; automatic beverage-vending machines, incorporating heating or refrigerating deviceses skyrocketed to $3.5M in 2022. In general, imports enjoyed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Machines; Automatic Beverage-Vending Machines, Incorporating Heating or Refrigerating Devices to South Korea in 2022:

1. China (1449.0 units)
2. Italy (104.0 units)

Exports of Machines; Automatic Beverage-Vending Machines, Incorporating Heating or Refrigerating Devices in South Korea

After two years of decline, overseas shipments of machines; automatic beverage-vending machines, incorporating heating or refrigerating deviceses increased by 18% to 508 units in 2022. In general, exports, however, faced a significant decline. Over the period under review, the exports of hit record highs at 1.4K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of machines; automatic beverage-vending machines, incorporating heating or refrigerating deviceses surged to $1.2M in 2022. Over the period under review, exports, however, saw a dramatic descent. Over the period under review, the exports of attained the peak figure at $3.1M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Top Export Markets for Machines; Automatic Beverage-Vending Machines, Incorporating Heating or Refrigerating Devices from South Korea in 2022:

1. Saudi Arabia (123.0 units)
2. Bangladesh (116.0 units)
3. United States (91.0 units)
4. Malaysia (90.0 units)
5. China (33.0 units)
6. Kuwait (19.0 units)
7. Vietnam (16.0 units)
8. Thailand (2.0 units)
9. Japan (1.0 units)

Source: IndexBox Market Intelligence Platform