Pumps; Parts Thereof Price in South Korea - 2022
Contents:
- Pumps; Parts Thereof Price in South Korea (FOB) - 2022
- Pumps; Parts Thereof Price in South Korea (CIF) - 2022
- Pumps; Parts Thereof Exports in South Korea
- Pumps; Parts Thereof Imports in South Korea
Pumps; Parts Thereof Price in South Korea (FOB) - 2022
In December 2022, the average pumps; parts thereof export price amounted to $17,132 per ton, reducing by -2.3% against the previous month. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in June 2022 an increase of 11% month-to-month. Over the period under review, the average export prices attained the peak figure at $18,465 per ton in December 2021; however, from January 2022 to December 2022, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Vietnam ($29,813 per ton), while the average price for exports to Spain ($2,551 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.
Pumps; Parts Thereof Price in South Korea (CIF) - 2022
In December 2022, the average pumps; parts thereof import price amounted to $15,504 per ton, rising by 12% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in February 2022 when the average import price increased by 29% against the previous month. The import price peaked in December 2022.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($48,324 per ton), while the price for China ($4,979 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 India (+2.0%), while the prices for the other major suppliers experienced a decline.
Pumps; Parts Thereof Exports in South Korea
In 2022, overseas shipments of pumps; parts thereoves were finally on the rise to reach 22K tons after two years of decline. Over the period under review, exports, however, saw a relatively flat trend pattern.
In value terms, pumps; parts thereof exports rose sharply to $345M in 2022. In general, exports, however, saw a noticeable decrease.
| Export of Pumps; Parts Thereof in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 64.1 | 56.2 | 54.4 | 55.3 | -4.8% |
| United States | 40.7 | 26.4 | 25.7 | 47.7 | 5.4% |
| China | 89.6 | 67.6 | 53.4 | 34.0 | -27.6% |
| India | 21.3 | 16.1 | 18.2 | 18.1 | -5.3% |
| Canada | 17.2 | 15.2 | 18.2 | 17.3 | 0.2% |
| Vietnam | 10.6 | 11.3 | 14.4 | 15.2 | 12.8% |
| Turkey | 4.8 | 6.8 | 10.3 | 12.2 | 36.5% |
| Mexico | 10.3 | 7.5 | 7.2 | 11.1 | 2.5% |
| United Arab Emirates | 9.9 | 24.3 | 8.9 | 10.5 | 2.0% |
| Thailand | 4.0 | 3.6 | 4.9 | 6.0 | 14.5% |
| Romania | 3.6 | 3.5 | 3.3 | 3.4 | -1.9% |
| Others | 103 | 99.9 | 105 | 114 | 3.4% |
| Total | 379 | 338 | 324 | 345 | -3.1% |
Top Export Markets for Pumps; Parts Thereof from South Korea in 2022:
- Japan (5.8K tons)
- United States (4.8K tons)
- China (1.6K tons)
- Canada (1.5K tons)
- India (1.4K tons)
- Turkey (1.3K tons)
- Romania (0.5K tons)
- Thailand (0.5K tons)
- Vietnam (0.4K tons)
- Mexico (0.3K tons)
- United Arab Emirates (0.3K tons)
Pumps; Parts Thereof Imports in South Korea
In 2022, approx. 20K tons of pumps; parts thereoves were imported into South Korea; surging by 7.3% against the previous year. The total import volume increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by 12% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, pumps; parts thereof imports reduced slightly to $269M in 2022. Over the period under review, imports, however, continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2021 with an increase of 3% against the previous year.
| Import of Pumps; Parts Thereof in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 55.5 | 46.6 | 63.4 | 77.1 | 11.6% |
| Japan | 66.3 | 61.6 | 63.0 | 53.0 | -7.2% |
| United States | 80.3 | 62.7 | 39.9 | 33.7 | -25.1% |
| Vietnam | 14.4 | 7.6 | 12.0 | 23.4 | 17.6% |
| Germany | 37.9 | 28.0 | 27.3 | 20.4 | -18.7% |
| India | 4.7 | 5.1 | 4.9 | 9.9 | 28.2% |
| Taiwan (Chinese) | 5.6 | 5.0 | 3.1 | 3.2 | -17.0% |
| Others | 42.1 | 47.2 | 58.0 | 48.3 | 4.7% |
| Total | 307 | 264 | 272 | 269 | -4.3% |
Top Suppliers of Pumps; Parts Thereof to South Korea in 2022:
- China (15.4K tons)
- Vietnam (1.5K tons)
- Japan (1.0K tons)
- India (0.9K tons)
- Taiwan (Chinese) (0.2K tons)
- United States (0.2K tons)
- Germany (0.2K tons)
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