Republic of Korea: Photo Camera Market 2024

Photo Camera Market Size in Republic of Korea

After four years of growth, the South Korean photo camera market decreased by X% to $X in 2022. Overall, consumption recorded a buoyant increase. Photo camera consumption peaked at $X in 2021, and then shrank modestly in the following year.

Photo Camera Exports

Exports from Republic of Korea

In 2022, approx. X units of photographic (other than cinematographic) cameras were exported from South Korea; rising by X% on 2021 figures. In general, exports, however, saw a noticeable reduction. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, photo camera exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a pronounced decrease. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units), Japan (X units) and Vietnam (X units) were the main destinations of photo camera exports from South Korea, together accounting for X% of total exports.

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

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for photographic (other than cinematographic) cameras exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by Vietnam, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the average photo camera export price amounted to $X per unit, dropping by X% against the previous year. Overall, the export price recorded a mild setback. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Canada ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Photo Camera Imports

Imports into Republic of Korea

For the third consecutive year, South Korea recorded growth in purchases abroad of photographic (other than cinematographic) cameras, which increased by X% to X units in 2022. Overall, imports enjoyed a strong expansion. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, photo camera imports declined dramatically to $X in 2022. In general, imports posted a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then contracted significantly in the following year.

Imports by Country

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

From 2012 to 2022, 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: Thailand (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of photographic (other than cinematographic) cameras to South Korea, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

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

Import Prices by Country

In 2022, the average photo camera import price amounted to $X per unit, shrinking by X% against the previous year. Over the period under review, the import price recorded a abrupt contraction. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average 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 ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform