Price for Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 in South Korea - 2022
Contents:
- Price for Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 in South Korea (FOB) - 2022
- Price for Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 in South Korea (CIF) - 2022
- Exports of Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 in South Korea
- Imports of Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 in South Korea
Price for Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 in South Korea (FOB) - 2022
The average export price for blades; cutting, serrated or not, excluding those of heading no. 8208s stood at $945 per thousand units in December 2022, growing by 8.4% against the previous month. Over the period from December 2021 to December 2022, it increased at an average monthly rate of +1.4%. The pace of growth appeared the most rapid in August 2022 an increase of 16% against the previous month. The export price peaked in December 2022.
Average prices varied noticeably for the major external markets. In December 2022, the countries with the highest prices were Indonesia ($843 per thousand units) and the United Arab Emirates ($821 per thousand units), while the average price for exports to Italy ($748 per thousand units) and Turkey ($778 per thousand units) were 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 Arab Emirates (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 in South Korea (CIF) - 2022
In December 2022, the average import price for blades; cutting, serrated or not, excluding those of heading no. 8208s amounted to $918 per thousand units, dropping by -18.8% against the previous month. Overall, the import price continues to indicate a pronounced slump. The pace of growth was the most pronounced in May 2022 when the average import price increased by 141% against the previous month. As a result, import price reached the peak level of $2.3 per unit. From June 2022 to December 2022, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($3.0 per unit), while the price for China amounted to $836 per thousand units.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (-2.6%).
Exports of Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 in South Korea
In 2022, approx. 7.8M units of blades; cutting, serrated or not, excluding those of heading no. 8208s were exported from South Korea; growing by 9.2% against the year before. The total export volume increased at an average annual rate of +4.0% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 9.4%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in years to come.
In value terms, exports of blades; cutting, serrated or not, excluding those of heading no. 8208s rose rapidly to $8M in 2022. The total export value increased at an average annual rate of +12.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 15%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Export of Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 3.8 | 3.0 | 4.6 | 5.5 | 13.1% |
| Turkey | 0.5 | 0.3 | 0.8 | 0.8 | 17.0% |
| Iran | 0.2 | 0.3 | 0.5 | 0.5 | 35.7% |
| Malaysia | 0.2 | 0.1 | 0.2 | 0.3 | 14.5% |
| United Arab Emirates | 0.3 | 0.4 | 0.1 | 0.1 | -30.7% |
| Others | 0.5 | 2.4 | 0.9 | 0.7 | 11.9% |
| Total | 5.6 | 6.5 | 7.1 | 8.0 | 12.6% |
Top Export Markets for Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 from South Korea in 2022:
- Indonesia (5.2M units)
- Turkey (1.0M units)
- Iran (0.7M units)
- Malaysia (0.4M units)
- United Arab Emirates (0.1M units)
Imports of Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 in South Korea
In 2022, approx. 1.6M units of blades; cutting, serrated or not, excluding those of heading no. 8208s were imported into South Korea; with a decrease of -23.3% on 2021 figures. In general, total imports indicated a tangible expansion from 2019 to 2022: its volume increased at an average annual rate of +2.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +10.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 44%. As a result, imports reached the peak of 2.1M units, and then shrank significantly in the following year.
In value terms, imports of blades; cutting, serrated or not, excluding those of heading no. 8208s dropped sharply to $2.5M in 2022. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +6.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +21.2% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 50% against the previous year. As a result, imports reached the peak of $3.3M, and then declined sharply in the following year.
| Import of Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.7 | 1.5 | 2.5 | 2.0 | 5.6% |
| Japan | 0.2 | 0.4 | 0.4 | 0.2 | 0.0% |
| Others | 0.1 | 0.3 | 0.4 | 0.3 | 44.2% |
| Total | 2.1 | 2.2 | 3.3 | 2.5 | 6.0% |
Top Suppliers of Blades; Cutting, Serrated or Not, Excluding Those of Heading No. 8208 to South Korea in 2022:
- China (1533.9K units)
- Japan (38.7K units)
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