Republic of Korea: Umbrella And Walking-Stick Market 2024

Umbrella And Walking-Stick Market Size in Republic of Korea

The South Korean umbrella and walking-stick market amounted to $X in 2022, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Umbrella And Walking-Stick Exports

Exports from Republic of Korea

In 2022, the amount of umbrellas and walking-sticks exported from South Korea dropped slightly to X units, reducing by X% compared with the previous year's figure. Overall, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, umbrella and walking-stick exports fell slightly to $X in 2022. In general, exports recorded a noticeable decrease. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Japan (X units), the United States (X units) and Hong Kong SAR (X units) were the main destinations of umbrella and walking-stick exports from South Korea, with a combined X% share of total exports. China, Vietnam, Germany and Singapore lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United States ($X) and China ($X) were the largest markets for umbrella and walking-stick exported from South Korea worldwide, together comprising X% of total exports. Hong Kong SAR, Vietnam, Germany and Singapore lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average umbrella and walking-stick export price stood at $X per unit in 2022, dropping by X% against the previous year. In general, export price indicated measured 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, umbrella and walking-stick export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2017 an increase of X%. The export price peaked at $X per unit in 2021, and then reduced in the following year.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($X per unit) and Singapore ($X per unit), while the average price for exports to Japan ($X per unit) and the United States ($X per unit) were amongst the lowest.

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

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Umbrella And Walking-Stick Imports

Imports into Republic of Korea

In 2022, the amount of umbrellas and walking-sticks imported into South Korea skyrocketed to X units, increasing by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, umbrella and walking-stick imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of umbrella and walking-stick to South Korea, with a X% share of total imports. Moreover, umbrella and walking-stick imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold. The third position in this ranking was held by Cambodia (X units), 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: Vietnam (X% per year) and Cambodia (X% per year).

In value terms, China ($X) constituted the largest supplier of umbrellas and walking-sticks to South Korea, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the average umbrella and walking-stick import price amounted to $X per unit, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. As a result, import price attained the peak level of $X per unit, and then reduced slightly in the following year.

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 Taiwan (Chinese) ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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