Price for Articles of Precious Metal or of Metal Clad with Precious Metal in South Korea - 2022
Contents:
- Price for Articles of Precious Metal or of Metal Clad with Precious Metal in South Korea (CIF) - 2022
- Price for Articles of Precious Metal or of Metal Clad with Precious Metal in South Korea (FOB) - 2022
- Imports of Articles of Precious Metal or of Metal Clad with Precious Metal in South Korea
- Exports of Articles of Precious Metal or of Metal Clad with Precious Metal in South Korea
Price for Articles of Precious Metal or of Metal Clad with Precious Metal in South Korea (CIF) - 2022
The average import price for articles of precious metal or of metal clad with precious metal stood at $433,102 per ton in 2022, declining by -48.4% against the previous year. Over the period under review, the import price showed a drastic downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 114% against the previous year. The import price peaked at $4,400,981 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.
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 Germany ($1,032,752 per ton), while the price for China ($107,259 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+11.7%), while the prices for the other major suppliers experienced a decline.
Price for Articles of Precious Metal or of Metal Clad with Precious Metal in South Korea (FOB) - 2022
The average export price for articles of precious metal or of metal clad with precious metal stood at $2,355,997 per ton in 2022, increasing by 28% against the previous year. In general, the export price saw a resilient expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 115%. The export price peaked in 2022 and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($15,129,390 per ton), while the average price for exports to Thailand ($304,748 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 Thailand (+65.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Articles of Precious Metal or of Metal Clad with Precious Metal in South Korea
In 2022, the amount of articles of precious metal or of metal clad with precious metal imported into South Korea surged to 294 tons, with an increase of 174% compared with the year before. Over the period under review, imports continue to indicate significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of articles of precious metal or of metal clad with precious metal surged to $127M in 2022. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 229%. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in the immediate term.
| Import of Articles of Precious Metal or of Metal Clad with Precious Metal in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1.8 | 2.4 | 3.3 | 81.5 | 256.4% |
| Japan | 15.2 | 20.7 | 63.4 | 28.8 | 23.7% |
| Germany | 1.7 | 0.9 | 9.4 | 9.3 | 76.2% |
| Thailand | N/A | N/A | 0.6 | 2.4 | 300.0% |
| China | 0.2 | 1.0 | 0.2 | 1.2 | 81.7% |
| Others | 2.4 | 2.4 | 13.2 | 4.2 | 20.5% |
| Total | 21.3 | 27.4 | 90.1 | 127 | 81.3% |
Top Suppliers of Articles of Precious Metal or of Metal Clad with Precious Metal to South Korea in 2022:
- United States (222.6 tons)
- Japan (43.4 tons)
- China (11.3 tons)
- Germany (9.0 tons)
- Thailand (6.0 tons)
Exports of Articles of Precious Metal or of Metal Clad with Precious Metal in South Korea
Exports of articles of precious metal or of metal clad with precious metal from South Korea skyrocketed to 20 tons in 2022, jumping by 55% against 2021. Overall, exports showed significant growth. The growth pace was the most rapid in 2020 with an increase of 429%. As a result, the exports reached the peak of 56 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of articles of precious metal or of metal clad with precious metal skyrocketed to $48M in 2022. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 945% against the previous year. As a result, the exports reached the peak of $110M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Articles of Precious Metal or of Metal Clad with Precious Metal in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 6.6 | 23.6 | 17.9 | 22.3 | 50.1% |
| China | 0.3 | 82.0 | 0.6 | 16.6 | 281.1% |
| Thailand | 1.5 | 1.8 | 3.3 | 3.0 | 26.0% |
| United Kingdom | 0.7 | 0.7 | 0.7 | 2.2 | 46.5% |
| United States | N/A | N/A | 0.1 | 1.8 | 1700.0% |
| Taiwan (Chinese) | N/A | N/A | N/A | 0.8 | 0% |
| Malaysia | 0.7 | 0.8 | 1.0 | 0.6 | -5.0% |
| Vietnam | 0.5 | 0.6 | 0.3 | 0.3 | -15.7% |
| Others | 0.1 | 0.1 | N/A | 0.2 | 26.0% |
| Total | 10.5 | 110 | 24.0 | 47.8 | 65.7% |
Top Export Markets for Articles of Precious Metal or of Metal Clad with Precious Metal from South Korea in 2022:
- Thailand (9.9 tons)
- China (4.7 tons)
- Malaysia (1.7 tons)
- Japan (1.5 tons)
- United States (1.0 tons)
- Taiwan (Chinese) (0.5 tons)
- United Kingdom (0.4 tons)
- Vietnam (0.3 tons)
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