Republic of Korea: Fishing Rod Market 2024

Fishing Rod Market Size in Republic of Korea

After five years of growth, the South Korean fishing rod market decreased by X% to $X in 2022. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2021, and then fell in the following year.

Fishing Rod Exports

Exports from Republic of Korea

After two years of growth, overseas shipments of fishing rods and other line fishing tackle decreased by X% to X units in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X units, and then reduced in the following year.

In value terms, fishing rod exports declined to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

The United States (X units), China (X units) and Vietnam (X units) were the main destinations of fishing rod exports from South Korea, together comprising X% of total exports. Peru, Japan, Cambodia, Paraguay, Spain, Russia, Argentina, the Philippines, Fiji and South Africa lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

Export Prices by Country

The average fishing rod export price stood at $X per unit in 2022, dropping by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Peru ($X 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 Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Fishing Rod Imports

Imports into Republic of Korea

In 2022, overseas purchases of fishing rods and other line fishing tackle decreased by X% to X units for the first time since 2011, thus ending a ten-year rising trend. In general, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then shrank in the following year.

In value terms, fishing rod imports fell to $X in 2022. Over the period under review, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X units) constituted the largest fishing rod supplier to South Korea, with a X% share of total imports. Moreover, fishing rod imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. Vietnam (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Vietnam (X% per year).

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

From 2012 to 2022, 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

The average fishing rod import price stood at $X per unit in 2022, flattening at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, 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 Platform

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