Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in South Korea - 2022

Contents:

1. Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in South Korea (FOB) - 2022
2. Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in South Korea (CIF) - 2022
3. Exports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in South Korea
4. Imports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in South Korea

Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in South Korea (FOB) - 2022

In 2022, the average export price for weighing machines; having a maximum weighing capacity exceeding 5000kgs amounted to $2,379 per unit, jumping by 56% against the previous year. Over the period under review, the export price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 150%. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Saudi Arabia ($2,445 per unit) and Turkey ($2,444 per unit), while the average price for exports to the United Arab Emirates ($2,412 per unit) and Malaysia ($2,423 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in South Korea (CIF) - 2022

In 2022, the average import price for weighing machines; having a maximum weighing capacity exceeding 5000kgs amounted to $4,077 per unit, dropping by -7.8% against the previous year. In general, the import price showed a deep slump. The pace of growth appeared the most rapid in 2020 when the average import price increased by 50%. The import price peaked at $8,306 per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($12,736 per unit), while the price for China ($1,352 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+7.3%), while the prices for the other major suppliers experienced a decline.

Exports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in South Korea

In 2022, overseas shipments of weighing machines; having a maximum weighing capacity exceeding 5000kgs were finally on the rise to reach 2.8K units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, faced a dramatic downturn. The exports peaked at 7.4K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of weighing machines; having a maximum weighing capacity exceeding 5000kgs surged to $6.6M in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +13.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.4% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg from South Korea in 2022:

1. Japan (1098.0 units)
2. Bangladesh (255.0 units)
3. Russia (242.0 units)
4. United States (209.0 units)
5. Vietnam (182.0 units)
6. Indonesia (82.0 units)
7. Turkey (69.0 units)
8. Malaysia (67.0 units)
9. India (60.0 units)
10. United Arab Emirates (52.0 units)
11. Saudi Arabia (46.0 units)
12. Egypt (45.0 units)
13. China (45.0 units)

Imports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in South Korea

In 2022, after three years of growth, there was significant decline in supplies from abroad of weighing machines; having a maximum weighing capacity exceeding 5000kgs, when their volume decreased by -5.5% to 1.3K units. Over the period under review, imports, however, recorded a significant increase. The growth pace was the most rapid in 2021 when imports increased by 164%. As a result, imports attained the peak of 1.4K units, and then declined in the following year.

In value terms, imports of weighing machines; having a maximum weighing capacity exceeding 5000kgs declined to $5.2M in 2022. In general, imports, however, posted a significant increase. The growth pace was the most rapid in 2021 with an increase of 79% against the previous year. As a result, imports reached the peak of $6M, and then reduced in the following year.

Top Suppliers of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg to South Korea in 2022:

1. Canada (440.0 units)
2. China (372.0 units)
3. Switzerland (159.0 units)
4. Germany (157.0 units)
5. United States (41.0 units)
6. Italy (41.0 units)
7. United Kingdom (39.0 units)

Source: IndexBox Market Intelligence Platform