Price for Navigational Instruments and Appliances; Parts and Accessories in South Korea - 2022

Contents:

1. Price for Navigational Instruments and Appliances; Parts and Accessories in South Korea (CIF) - 2022
2. Price for Navigational Instruments and Appliances; Parts and Accessories in South Korea (FOB) - 2022
3. Imports of Navigational Instruments and Appliances; Parts and Accessories in South Korea
4. Exports of Navigational Instruments and Appliances; Parts and Accessories in South Korea

Price for Navigational Instruments and Appliances; Parts and Accessories in South Korea (CIF) - 2022

The average import price for navigational instruments and appliances; parts and accessorieses stood at $415,582 per ton in 2022, waning by -22.9% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 34% against the previous year. Over the period under review, average import prices hit record highs at $912,128 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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 Germany ($1,080,179 per ton), while the price for China ($114,661 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Navigational Instruments and Appliances; Parts and Accessories in South Korea (FOB) - 2022

In 2022, the average export price for navigational instruments and appliances; parts and accessorieses amounted to $110,915 per ton, reducing by -5.4% against the previous year. In general, the export price showed a deep slump. The most prominent rate of growth was recorded in 2018 an increase of 10%. Over the period under review, the average export prices attained the peak figure at $598,074 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Germany ($641,010 per ton), while the average price for exports to Japan ($58,405 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Navigational Instruments and Appliances; Parts and Accessories in South Korea

In 2022, overseas purchases of navigational instruments and appliances; parts and accessorieses decreased by -19.2% to 70 tons, falling for the second consecutive year after two years of growth. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +12.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -21.0% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 81%. As a result, imports attained the peak of 88 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of navigational instruments and appliances; parts and accessorieses contracted markedly to $29M in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 105% against the previous year. As a result, imports attained the peak of $59M. From 2021 to 2022, the growth of imports of failed to regain momentum.

Top Suppliers of Navigational Instruments and Appliances; Parts and Accessories to South Korea in 2022:

1. Japan (31.8 tons)
2. China (15.2 tons)
3. United States (10.9 tons)
4. Germany (2.2 tons)
5. Singapore (1.6 tons)
6. Norway (1.4 tons)
7. Spain (1.3 tons)
8. Israel (0.7 tons)
9. Australia (0.2 tons)

Exports of Navigational Instruments and Appliances; Parts and Accessories in South Korea

Exports of navigational instruments and appliances; parts and accessorieses from South Korea skyrocketed to 63 tons in 2022, increasing by 95% against the previous year's figure. In general, exports saw a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of navigational instruments and appliances; parts and accessorieses skyrocketed to $7M in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +8.0% 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.

Top Export Markets for Navigational Instruments and Appliances; Parts and Accessories from South Korea in 2022:

1. Japan (38.4 tons)
2. United Arab Emirates (7.4 tons)
3. Taiwan (Chinese) (3.8 tons)
4. Australia (2.3 tons)
5. Singapore (1.8 tons)
6. United States (1.8 tons)
7. China (1.7 tons)
8. Netherlands (1.2 tons)
9. Hong Kong SAR (0.7 tons)
10. Malaysia (0.4 tons)

Source: IndexBox Market Intelligence Platform