Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in South Korea - 2022
Contents:
- Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in South Korea (CIF) - 2022
- Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in South Korea (FOB) - 2022
- Imports of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in South Korea
- Exports of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in South Korea
Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in South Korea (CIF) - 2022
The average import price for pocket watches and other watches, including stop-watches; battery or accumulator powereds stood at $20 per unit in 2022, standing approx. at the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2015 when the average import price increased by 27%. The import price peaked at $21 per unit in 2017; however, from 2018 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 Switzerland ($60 per unit), while the price for the United States ($5.3 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in South Korea (FOB) - 2022
The average export price for pocket watches and other watches, including stop-watches; battery or accumulator powereds stood at $23 per unit in 2022, waning by -42.5% against the previous year. In general, the export price showed a deep setback. The pace of growth appeared the most rapid in 2016 an increase of 24%. As a result, the export price attained the peak level of $42 per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($154 per unit), while the average price for exports to Brazil ($1.9 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 the United States (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in South Korea
For the third consecutive year, South Korea recorded decline in overseas purchases of pocket watches and other watches, including stop-watches; battery or accumulator powereds, which decreased by -28.2% to 64K units in 2022. Over the period under review, imports saw a sharp downturn. The smallest decline of -27.8% was in 2020. Imports peaked at 175K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, imports of pocket watches and other watches, including stop-watches; battery or accumulator powereds declined notably to $1.3M in 2022. Overall, imports continue to indicate a sharp shrinkage. The smallest decline of -26.6% was in 2021. Imports peaked at $3.4M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 677 | 582 | 754 | 746 | 3.3% |
| Switzerland | 2,654 | 1,754 | 854 | 479 | -43.5% |
| United States | 7.0 | 2.2 | 11.2 | 38.0 | 75.7% |
| Others | 85.0 | 109 | 175 | 44.0 | -19.7% |
| Total | 3,423 | 2,447 | 1,795 | 1,307 | -27.5% |
Top Suppliers of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered to South Korea in 2022:
- China (48.0K units)
- Switzerland (7.9K units)
- United States (7.2K units)
Exports of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in South Korea
In 2022, the amount of pocket watches and other watches, including stop-watches; battery or accumulator powereds exported from South Korea fell dramatically to 2K units, shrinking by -57.9% on the year before. In general, exports, however, posted a moderate increase. The pace of growth appeared the most rapid in 2021 when exports increased by 198%. As a result, the exports attained the peak of 4.8K units, and then fell remarkably in the following year.
In value terms, exports of pocket watches and other watches, including stop-watches; battery or accumulator powereds fell dramatically to $47K in 2022. Overall, exports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 198%. As a result, the exports reached the peak of $192K, and then dropped notably in the following year.
| Export of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 7.7 | 0.1 | N/A | 17.3 | 31.0% |
| United States | 0.4 | 2.2 | 3.2 | 16.5 | 245.5% |
| Germany | N/A | 0.1 | 1.9 | 5.3 | 628.0% |
| Saudi Arabia | 0.1 | 0.2 | 0.8 | 4.3 | 250.3% |
| Kuwait | 0.1 | 0.2 | 0.7 | 1.5 | 146.6% |
| Brazil | N/A | N/A | N/A | 0.1 | 0% |
| Hong Kong SAR | 22.8 | 25.9 | 56.7 | N/A | 57.7% |
| Guatemala | 3.2 | 3.6 | 7.9 | N/A | 57.1% |
| Indonesia | 15.1 | 11.0 | 88.0 | N/A | 141.4% |
| Taiwan (Chinese) | 0.7 | 11.0 | 10.0 | N/A | 278.0% |
| Others | 19.9 | 10.1 | 22.9 | 1.5 | -57.8% |
| Total | 70.0 | 64.5 | 192 | 46.5 | -12.7% |
Top Export Markets for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered from South Korea in 2022:
- Japan (1093.0 units)
- Germany (589.0 units)
- Saudi Arabia (113.0 units)
- United States (107.0 units)
- Brazil (61.0 units)
- Kuwait (40.0 units)
- Taiwan (Chinese) (1.0 units)
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