Price for Watch Cases and Parts Thereof in South Korea - 2022
Contents:
- Price for Watch Cases and Parts Thereof in South Korea (CIF) - 2022
- Price for Watch Cases and Parts Thereof in South Korea (FOB) - 2022
- Imports of Watch Cases and Parts Thereof in South Korea
- Exports of Watch Cases and Parts Thereof in South Korea
Price for Watch Cases and Parts Thereof in South Korea (CIF) - 2022
The average import price for watch cases and parts thereoves stood at $14 per unit in 2022, increasing by 3.6% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, watch cases and parts thereof import price decreased by -35.0% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 58%. As a result, import price attained the peak level of $21 per unit. From 2019 to 2022, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($246 per unit), while the price for China ($12 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+20.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Watch Cases and Parts Thereof in South Korea (FOB) - 2022
The average export price for watch cases and parts thereoves stood at $215 per unit in 2022, which is down by -10.1% against the previous year. In general, the export price, however, continues to indicate a pronounced expansion. The growth pace was the most rapid in 2018 an increase of 1,603% against the previous year. As a result, the export price reached the peak level of $323 per unit. From 2019 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 Switzerland ($441 per unit), while the average price for exports to the United States ($8.6 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 Israel (+445.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Watch Cases and Parts Thereof in South Korea
In 2022, purchases abroad of watch cases and parts thereoves decreased by -17.7% to 318K units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +11.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. As a result, imports attained the peak of 386K units, and then dropped significantly in the following year.
In value terms, watch cases and parts thereof imports fell to $4.4M in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. As a result, imports reached the peak of $5.2M, and then contracted in the following year.
| Import of Watch Cases and Parts Thereof in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.4 | 2.8 | 4.2 | 3.6 | 1.9% |
| Others | 0.9 | 0.9 | 1.0 | 0.8 | -3.9% |
| Total | 4.3 | 3.6 | 5.2 | 4.4 | 0.8% |
Top Suppliers of Watch Cases and Parts Thereof to South Korea in 2022:
- China (300.8K units)
Exports of Watch Cases and Parts Thereof in South Korea
In 2022, shipments abroad of watch cases and parts thereoves increased by 6.2% to 11K units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, faced a abrupt shrinkage. Over the period under review, the exports attained the maximum at 21K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, watch cases and parts thereof exports contracted modestly to $2.4M in 2022. Over the period under review, exports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 10% against the previous year. Over the period under review, the exports reached the peak figure at $3.3M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
| Export of Watch Cases and Parts Thereof in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 2,869 | 1,272 | 1,689 | 1,601 | -17.7% |
| Hong Kong SAR | 363 | 908 | 442 | 471 | 9.1% |
| Thailand | 5.2 | 2.3 | 268 | 224 | 250.5% |
| United States | 62.9 | 67.3 | 3.8 | 36.8 | -16.4% |
| Japan | 0.4 | 1.0 | 42.0 | 35.2 | 344.8% |
| China | 3.8 | 4.7 | 3.5 | 3.3 | -4.6% |
| Others | 10.7 | 9.2 | 43.4 | 7.3 | -12.0% |
| Total | 3,315 | 2,264 | 2,491 | 2,378 | -10.5% |
Top Export Markets for Watch Cases and Parts Thereof from South Korea in 2022:
- United States (4.3K units)
- Switzerland (3.6K units)
- Hong Kong SAR (1.8K units)
- Thailand (0.5K units)
- Japan (0.5K units)
- China (0.3K units)
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