Golf Balls Price in South Korea - 2022
Contents:
- Golf Balls Price in South Korea (CIF) - 2022
- Golf Balls Price in South Korea (FOB) - 2022
- Golf Balls Imports in South Korea
- Golf Balls Exports in South Korea
Golf Balls Price in South Korea (CIF) - 2022
The average golf balls import price stood at $2.2 per unit in December 2022, increasing by 3.8% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2022 when the average import price increased by 14% against the previous month. As a result, import price attained the peak level of $2.5 per unit. From March 2022 to December 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Thailand ($5.4 per unit), while the price for China ($1.2 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Golf Balls Price in South Korea (FOB) - 2022
The average golf balls export price stood at $2.9 per unit in 2022, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 21% against the previous year. The export price peaked at $2.9 per unit in 2021, and then shrank in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($21 per unit), while the average price for exports to Thailand ($6.8 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 the UK (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.
Golf Balls Imports in South Korea
In 2022, golf balls imports into South Korea skyrocketed to 85M units, growing by 16% compared with the year before. The total import volume increased at an average annual rate of +9.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, golf balls imports soared to $117M in 2022. The total import value increased at an average annual rate of +11.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Golf Balls in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 39.5 | 38.4 | 41.7 | 40.9 | 1.2% |
| China | 16.5 | 17.4 | 21.0 | 31.0 | 23.4% |
| United States | 10.7 | 13.6 | 10.9 | 14.9 | 11.7% |
| Taiwan (Chinese) | 9.7 | 9.3 | 13.0 | 14.5 | 14.3% |
| Japan | 6.6 | 7.9 | 10.7 | 11.6 | 20.7% |
| Indonesia | 1.2 | 1.5 | 1.7 | 2.1 | 20.5% |
| Vietnam | 0.1 | 0.4 | 0.3 | 1.8 | 162.1% |
| Others | N/A | 0.2 | 0.2 | 0.1 | -29.3% |
| Total | 84.3 | 88.7 | 99.5 | 117 | 11.5% |
Top Suppliers of Golf Balls to South Korea in 2022:
- China (3.1M units)
- Thailand (1.0M units)
- Taiwan (Chinese) (0.8M units)
- Japan (0.7M units)
- United States (0.5M units)
- Indonesia (0.2M units)
- Vietnam (0.2M units)
Golf Balls Exports in South Korea
In 2022, golf balls exports from South Korea amounted to 13M units, growing by 2.2% compared with 2021. Over the period under review, exports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of 5.3%. Over the period under review, the exports hit record highs at 15M units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, golf balls exports rose slightly to $39M in 2022. The total export value increased at an average annual rate of +3.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Golf Balls in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 25.3 | 22.2 | 24.8 | 26.3 | 1.3% |
| United Kingdom | 2.0 | 1.4 | 2.8 | 4.2 | 28.1% |
| Japan | 2.6 | 2.2 | 3.2 | 3.0 | 4.9% |
| Australia | 1.3 | 1.2 | 1.8 | 1.6 | 7.2% |
| China | 0.6 | 0.7 | 0.8 | 1.1 | 22.4% |
| Netherlands | 1.1 | 1.5 | 1.6 | 0.7 | -14.0% |
| Thailand | 0.1 | N/A | 0.1 | 0.3 | 44.2% |
| Canada | 0.8 | 1.6 | 0.7 | N/A | -6.5% |
| Others | 1.5 | 1.4 | 2.4 | 1.7 | 4.3% |
| Total | 35.3 | 32.3 | 38.2 | 39.0 | 3.4% |
Top Export Markets for Golf Balls from South Korea in 2022:
- Canada (undefinedM units)
- Thailand (undefinedM units)
- United States (1.7M units)
- Australia (0.2M units)
- United Kingdom (0.2M units)
- Japan (0.2M units)
- Netherlands (0.1M units)
- China (0.1M units)
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