Price for Pearls; Articles of Natural or Cultured Pearls in South Korea - 2022
Contents:
- Price for Pearls; Articles of Natural or Cultured Pearls in South Korea (CIF) - 2022
- Price for Pearls; Articles of Natural or Cultured Pearls in South Korea (FOB) - 2022
- Imports of Pearls; Articles of Natural or Cultured Pearls in South Korea
- Exports of Pearls; Articles of Natural or Cultured Pearls in South Korea
Price for Pearls; Articles of Natural or Cultured Pearls in South Korea (CIF) - 2022
In December 2022, the average import price for pearls; articles of natural or cultured pearlses amounted to $412K per ton, waning by -10.7% against the previous month. In general, the import price showed a mild shrinkage. The most prominent rate of growth was recorded in April 2022 when the average import price increased by 231% m-o-m. Over the period under review, average import prices reached the maximum at $860K per ton in June 2022; however, from July 2022 to December 2022, 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 -0.4% per month.
Price for Pearls; Articles of Natural or Cultured Pearls in South Korea (FOB) - 2022
In 2022, the average export price for pearls; articles of natural or cultured pearlses amounted to $607,022 per ton, rising by 17% against the previous year. Overall, the export price recorded a prominent expansion. The growth pace was the most rapid in 2015 when the average export price increased by 177%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.
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 the United States ($740,245 per ton), while the average price for exports to Malaysia ($115,000 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 UK (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Pearls; Articles of Natural or Cultured Pearls in South Korea
Imports of pearls; articles of natural or cultured pearlses into South Korea soared to 9 tons in 2022, surging by 59% compared with 2021. Over the period under review, imports recorded a notable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of pearls; articles of natural or cultured pearlses soared to $3.7M in 2022. In general, imports recorded a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 125%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Pearls; Articles of Natural or Cultured Pearls in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.3 | 0.7 | 1.4 | 3.2 | 35.0% |
| Others | 0.1 | 0.1 | 0.3 | 0.5 | 71.0% |
| Total | 1.4 | 0.8 | 1.7 | 3.7 | 38.3% |
Top Suppliers of Pearls; Articles of Natural or Cultured Pearls to South Korea in 2022:
- China (8.7 tons)
Exports of Pearls; Articles of Natural or Cultured Pearls in South Korea
For the fourth year in a row, South Korea recorded growth in shipments abroad of pearls; articles of natural or cultured pearlses, which increased by 42% to 635 kg in 2022. Overall, exports continue to indicate significant growth. The growth pace was the most rapid in 2020 when exports increased by 183%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, exports of pearls; articles of natural or cultured pearlses soared to $385K in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 260% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.
| Export of Pearls; Articles of Natural or Cultured Pearls in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 27.2 | 54.7 | 145 | 142 | 73.5% |
| Japan | 1.6 | 1.1 | 4.8 | 95.4 | 290.7% |
| Malaysia | N/A | N/A | N/A | 7.1 | 0% |
| Spain | N/A | N/A | N/A | 6.7 | 0% |
| China | 0.5 | 1.4 | 23.4 | 6.5 | 135.1% |
| Canada | N/A | 3.3 | 1.2 | 2.9 | -6.3% |
| Others | 4.1 | 3.4 | 55.6 | 125 | 212.4% |
| Total | 33.3 | 63.9 | 230 | 385 | 126.1% |
Top Export Markets for Pearls; Articles of Natural or Cultured Pearls from South Korea in 2022:
- Japan (307.0 kg)
- United States (192.0 kg)
- Malaysia (62.0 kg)
- China (32.0 kg)
- Spain (13.0 kg)
- Canada (7.0 kg)
Nothing found. Please try again.
