Plugs and Socket Price in South Korea - 2022
Contents:
- Plugs and Socket Price in South Korea (FOB) - 2022
- Plugs and Socket Price in South Korea (CIF) - 2022
- Plugs and Socket Exports in South Korea
- Plugs and Socket Imports in South Korea
Plugs and Socket Price in South Korea (FOB) - 2022
In December 2022, the average plugs and socket export price amounted to $885 per thousand units, declining by -6.4% against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in January 2022 when the average export price increased by 7.1% against the previous month. Over the period under review, the average export prices hit record highs at $1.1 per unit in August 2022; however, from September 2022 to December 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Hong Kong SAR ($2.1 per unit), while the average price for exports to Thailand ($231 per thousand units) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.
Plugs and Socket Price in South Korea (CIF) - 2022
In December 2022, the average plugs and socket import price amounted to $751 per thousand units, dropping by -2.5% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2022 an increase of 21% month-to-month. Over the period under review, average import prices hit record highs at $876 per thousand units in April 2022; however, from May 2022 to December 2022, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($4.1 per unit), while the price for Vietnam ($405 per thousand units) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Plugs and Socket Exports in South Korea
Plugs and socket exports from South Korea fell to 1.1B units in 2022, dropping by -13.9% on the previous year. In general, exports continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2021 with an increase of 2.6% against the previous year. As a result, the exports reached the peak of 1.3B units, and then reduced in the following year.
In value terms, plugs and socket exports shrank to $1.1B in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 11% against the previous year. As a result, the exports attained the peak of $1.3B, and then declined in the following year.
| Export of Plugs and Socket in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 391 | 347 | 359 | 290 | -9.5% |
| China | 259 | 255 | 293 | 241 | -2.4% |
| Hong Kong SAR | 153 | 171 | 177 | 155 | 0.4% |
| United States | 76.8 | 89.2 | 110 | 107 | 11.7% |
| Japan | 37.1 | 39.3 | 52.7 | 49.5 | 10.1% |
| India | 34.6 | 28.7 | 29.5 | 32.8 | -1.8% |
| Poland | 21.3 | 21.6 | 28.8 | 20.5 | -1.3% |
| Indonesia | 12.2 | 12.4 | 14.8 | 18.9 | 15.7% |
| Singapore | 14.1 | 14.9 | 16.3 | 15.9 | 4.1% |
| Thailand | 12.9 | 14.4 | 15.8 | 12.9 | 0.0% |
| Mexico | 18.6 | 15.1 | 14.8 | 9.7 | -19.5% |
| Hungary | 6.9 | 7.7 | 8.2 | 5.5 | -7.3% |
| Others | 136 | 163 | 184 | 187 | 11.2% |
| Total | 1,173 | 1,179 | 1,304 | 1,145 | -0.8% |
Top Export Markets for Plugs and Socket from South Korea in 2022:
- China (286.0M units)
- Vietnam (202.6M units)
- United States (88.4M units)
- Japan (72.0M units)
- India (71.8M units)
- Indonesia (71.5M units)
- Hong Kong SAR (67.6M units)
- Thailand (52.7M units)
- Poland (43.0M units)
- Mexico (31.5M units)
- Singapore (22.5M units)
- Hungary (17.3M units)
Plugs and Socket Imports in South Korea
In 2022, overseas purchases of electrical plugs and sockets for under 1000 v were finally on the rise to reach 2.3B units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a deep setback. Imports peaked at 3.2B units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, plugs and socket imports surged to $886M in 2022. In general, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Plugs and Socket in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 324 | 282 | 117 | 274 | -5.4% |
| Japan | 182 | 170 | 59.5 | 147 | -6.9% |
| Vietnam | 123 | 125 | 53.6 | 117 | -1.7% |
| United States | 63.9 | 72.3 | 29.0 | 87.8 | 11.2% |
| Germany | 43.8 | 44.8 | 16.6 | 47.9 | 3.0% |
| Taiwan (Chinese) | 16.4 | 14.3 | 6.8 | 19.8 | 6.5% |
| Indonesia | 6.1 | 7.2 | 3.3 | 7.6 | 7.6% |
| Others | 126 | 142 | 63.3 | 185 | 13.7% |
| Total | 885 | 859 | 349 | 886 | 0.0% |
Top Suppliers of Plugs and Socket to South Korea in 2022:
- China (1109.6M units)
- Vietnam (462.7M units)
- Japan (175.4M units)
- Germany (136.5M units)
- Indonesia (124.9M units)
- United States (52.8M units)
- Taiwan (Chinese) (36.9M units)
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