Price for Tools, Hand; Other than Household Tools in South Korea - 2022
Contents:
- Price for Tools, Hand; Other than Household Tools in South Korea (CIF) - 2022
- Price for Tools, Hand; Other than Household Tools in South Korea (FOB) - 2022
- Imports of Tools, Hand; Other than Household Tools in South Korea
- Exports of Tools, Hand; Other than Household Tools in South Korea
Price for Tools, Hand; Other than Household Tools in South Korea (CIF) - 2022
In December 2022, the average import price for tools, hand; other than household toolses amounted to $16,547 per ton, declining by -2.5% against the previous month. Overall, the import price, however, showed a slight increase. The most prominent rate of growth was recorded in November 2022 when the average import price increased by 28% m-o-m. The import price peaked at $18,334 per ton in July 2022; however, from August 2022 to December 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Germany ($111K per ton), while the price for China ($6,811 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Germany (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Tools, Hand; Other than Household Tools in South Korea (FOB) - 2022
In 2022, the average export price for tools, hand; other than household toolses amounted to $18,864 per ton, reducing by -11.8% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the average export price increased by 59% against the previous year. The export price peaked at $21,399 per ton in 2021, and then contracted in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($74,395 per ton), while the average price for exports to the Philippines ($4,124 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 Saudi Arabia (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Tools, Hand; Other than Household Tools in South Korea
Imports of tools, hand; other than household toolses into South Korea contracted to 3.1K tons in 2022, dropping by -13.3% compared with the previous year. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. As a result, imports attained the peak of 3.5K tons, and then shrank in the following year.
In value terms, imports of tools, hand; other than household toolses contracted to $48M in 2022. The total import value increased at an average annual rate of +1.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. As a result, imports attained the peak of $52M, and then contracted in the following year.
| Import of Tools, Hand; Other than Household Tools in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 9.4 | 10.2 | 14.4 | 13.2 | 12.0% |
| Japan | 15.2 | 10.9 | 12.3 | 9.1 | -15.7% |
| United States | 5.8 | 4.6 | 6.6 | 6.5 | 3.9% |
| Taiwan (Chinese) | 5.8 | 5.4 | 6.8 | 6.0 | 1.1% |
| Germany | 3.5 | 3.5 | 3.5 | 5.1 | 13.4% |
| Others | 7.2 | 6.3 | 8.5 | 8.6 | 6.1% |
| Total | 46.9 | 40.9 | 52.1 | 48.4 | 1.1% |
Top Suppliers of Tools, Hand; Other than Household Tools to South Korea in 2022:
- China (1983.0 tons)
- Taiwan (Chinese) (382.9 tons)
- Japan (289.6 tons)
- Germany (112.9 tons)
- United States (55.0 tons)
Exports of Tools, Hand; Other than Household Tools in South Korea
In 2022, after two years of decline, there was significant growth in overseas shipments of tools, hand; other than household toolses, when their volume increased by 15% to 901 tons. Over the period under review, exports, however, saw a deep contraction.
In value terms, exports of tools, hand; other than household toolses totaled $17M in 2022. In general, exports, however, continue to indicate a abrupt slump.
| Export of Tools, Hand; Other than Household Tools in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.4 | 2.0 | 3.0 | 4.8 | 26.0% |
| Vietnam | 4.2 | 3.5 | 2.2 | 1.8 | -24.6% |
| Japan | 1.8 | 2.2 | 1.4 | 1.5 | -5.9% |
| Philippines | 1.8 | 0.8 | 0.3 | 1.4 | -8.0% |
| Saudi Arabia | 0.4 | 0.1 | 1.2 | 1.3 | 48.1% |
| China | 1.6 | 1.7 | 0.9 | 0.8 | -20.6% |
| United Arab Emirates | 0.6 | 0.7 | 1.1 | 0.2 | -30.7% |
| Cambodia | 0.4 | 1.2 | 0.7 | 0.2 | -20.6% |
| Brunei Darussalam | 1.0 | N/A | N/A | N/A | 0% |
| Iraq | 1.3 | 0.2 | 0.6 | N/A | -32.1% |
| Others | 5.9 | 4.1 | 5.4 | 5.1 | -4.7% |
| Total | 21.4 | 16.6 | 16.7 | 17.0 | -7.4% |
Top Export Markets for Tools, Hand; Other than Household Tools from South Korea in 2022:
- Philippines (332.6 tons)
- United States (162.4 tons)
- Japan (113.3 tons)
- Saudi Arabia (48.3 tons)
- Cambodia (38.0 tons)
- China (33.6 tons)
- Vietnam (24.1 tons)
- United Arab Emirates (17.4 tons)
- Iraq (6.2 tons)
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