Price for Watches; Incomplete Movements, Assembled in South Korea - 2022

Contents:

1. Price for Watches; Incomplete Movements, Assembled in South Korea (CIF) - 2022
2. Price for Watches; Incomplete Movements, Assembled in South Korea (FOB) - 2022
3. Imports of Watches; Incomplete Movements, Assembled in South Korea
4. Exports of Watches; Incomplete Movements, Assembled in South Korea

Price for Watches; Incomplete Movements, Assembled in South Korea (CIF) - 2022

In 2022, the average watches; incomplete movements, assembled import price amounted to $106 per unit, almost unchanged from the previous year. Overall, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, watches; incomplete movements, assembled import price increased by +63.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 64%. Over the period under review, average import prices hit record highs at $109 per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +6.7% per year.

Price for Watches; Incomplete Movements, Assembled in South Korea (FOB) - 2022

The average watches; incomplete movements, assembled export price stood at $340 per unit in 2022, reducing by -32.8% against the previous year. In general, the export price faced a deep setback. The pace of growth appeared the most rapid in 2019 an increase of 276%. The export price peaked at $1,028 per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($646 per unit), while the average price for exports to China ($53 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 (-10.6%), while the prices for the other major destinations experienced a decline.

Imports of Watches; Incomplete Movements, Assembled in South Korea

Watches; incomplete movements, assembled imports into South Korea declined markedly to 1.2K units in 2022, waning by -49.3% compared with the previous year's figure. Over the period under review, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 8,467% against the previous year. As a result, imports reached the peak of 2.3K units, and then shrank remarkably in the following year.

In value terms, watches; incomplete movements, assembled imports shrank rapidly to $125K in 2022. Overall, imports, however, continue to indicate significant growth. The growth pace was the most rapid in 2021 with an increase of 13,765% against the previous year. As a result, imports attained the peak of $247K, and then fell markedly in the following year.

Top Suppliers of Watches; Incomplete Movements, Assembled to South Korea in 2022:

1. China (1155.0 units)
2. Hong Kong SAR (2.0 units)

Exports of Watches; Incomplete Movements, Assembled in South Korea

In 2022, the amount of watches; incomplete movements, assembleds exported from South Korea soared to 34 units, increasing by 48% against the previous year. Over the period under review, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, watches; incomplete movements, assembled exports declined modestly to $11K in 2022. The total export value increased at an average annual rate of +3.1% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 6.3%. Over the period under review, the exports reached the peak figure at $12K in 2021, and then fell in the following year.

Top Export Markets for Watches; Incomplete Movements, Assembled from South Korea in 2022:

1. China (16.0 units)
2. Russia (16.0 units)
3. United States (3.0 units)

Source: IndexBox Market Intelligence Platform