Republic of Korea: Fishing Rod Market 2022

Fishing Rod Market Size in Republic of Korea

In 2021, after five years of growth, there was significant decline in the South Korean fishing rod market, when its value decreased by -X% to $X. In general, consumption, however, saw a relatively flat trend pattern. Fishing rod consumption peaked at $X in 2020, and then declined in the following year.

Fishing Rod Exports

Exports from Republic of Korea

Fishing rod exports from South Korea amounted to X tons in 2021, therefore, remained relatively stable against 2020. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, fishing rod exports reached $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for fishing rod exports from South Korea, accounting for a X% share of total exports. Moreover, fishing rod exports to the United States exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. Uruguay (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+X% per year) and Uruguay (+X% per year).

In value terms, the United States ($X) remains the key foreign market for fishing rod exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-X% per year) and China (-X% per year).

Export Prices by Country

The average fishing rod export price stood at $X per ton in 2021, flattening at the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into Republic of Korea

After nine years of growth, supplies from abroad of fishing rods and other line fishing tackle decreased by -X% to X tons in 2021. In general, imports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2020, and then shrank slightly in the following year.

In value terms, fishing rod imports shrank to $X in 2021. Over the period under review, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. Imports peaked at $X in 2020, and then declined slightly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of fishing rod to South Korea, accounting for a X% share of total imports. Moreover, fishing rod imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+X% per year) and Japan (+X% per year).

In value terms, China ($X) constituted the largest supplier of fishing rod to South Korea, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+X% per year) and Vietnam (+X% per year).

Import Prices by Country

In 2021, the average fishing rod import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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