Republic of Korea: Metal Non-Electric Bell Market 2024

Metal Non-Electric Bell Market Size in Republic of Korea

The South Korean metal non-electric bell market rose sharply to $X in 2022, growing by X% against the previous year. In general, consumption, however, recorded a abrupt descent. Metal non-electric bell consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Non-Electric Bell Production in Republic of Korea

In value terms, metal non-electric bell production rose significantly to $X in 2022 estimated in export price. Overall, production saw a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Metal non-electric bell production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Metal Non-Electric Bell Exports

Exports from Republic of Korea

In 2022, overseas shipments of non-electric bells and gongs of base metal increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a perceptible reduction. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, metal non-electric bell exports reduced modestly to $X in 2022. In general, exports, however, showed a mild decrease. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for metal non-electric bell exports from South Korea, with a X% share of total exports. Moreover, metal non-electric bell exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), fivefold. Canada (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Japan ($X) remains the key foreign market for non-electric bells and gongs of base metal exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with an X% share of total exports. It was followed by Canada, with a X% share.

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

Export Prices by Country

The average metal non-electric bell export price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price, however, showed temperate growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then contracted sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

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

Metal Non-Electric Bell Imports

Imports into Republic of Korea

In 2022, approx. X tons of non-electric bells and gongs of base metal were imported into South Korea; growing by X% compared with 2021 figures. In general, imports saw a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, metal non-electric bell imports soared to $X in 2022. Over the period under review, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) was the main supplier of metal non-electric bell to South Korea, accounting for a X% share of total imports. It was followed by Nepal (X tons), with a X% share of total imports.

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: Nepal (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of non-electric bells and gongs of base metal to South Korea, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports.

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

Import Prices by Country

In 2022, the average metal non-electric bell import price amounted to $X per ton, growing by X% against the previous year. In general, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal non-electric bell import price increased by X% against 2018 indices. The growth pace was the most rapid in 2013 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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