Price for Cycles; Parts Thereof, Saddles in South Korea - 2022

Contents:

1. Price for Cycles; Parts Thereof, Saddles in South Korea (CIF) - 2022
2. Price for Cycles; Parts Thereof, Saddles in South Korea (FOB) - 2022
3. Imports of Cycles; Parts Thereof, Saddles in South Korea
4. Exports of Cycles; Parts Thereof, Saddles in South Korea

Price for Cycles; Parts Thereof, Saddles in South Korea (CIF) - 2022

In 2022, the average cycles; parts thereof, saddles import price amounted to $4.8 per unit, falling by -25.6% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cycles; parts thereof, saddles import price increased by +22.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 119%. As a result, import price attained the peak level of $8.2 per unit. From 2014 to 2022, the average 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 Taiwan (Chinese) ($13 per unit), while the price for China ($1.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.1%), while the prices for the other major suppliers experienced a decline.

Price for Cycles; Parts Thereof, Saddles in South Korea (FOB) - 2022

The average cycles; parts thereof, saddles export price stood at $29 per unit in 2022, standing approx. at the previous year. Over the period under review, the export price saw a significant increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 3,473%. As a result, the export price reached the peak level of $47 per unit. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($35 per unit), while the average price for exports to China ($4.6 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 Italy (+43.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cycles; Parts Thereof, Saddles in South Korea

In 2022, cycles; parts thereof, saddles imports into South Korea soared to 706K units, jumping by 41% against the year before. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 81% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, cycles; parts thereof, saddles imports rose markedly to $3.4M in 2022. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 112%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Cycles; Parts Thereof, Saddles to South Korea in 2022:

1. China (506.9K units)
2. Italy (114.6K units)
3. Taiwan (Chinese) (63.2K units)

Exports of Cycles; Parts Thereof, Saddles in South Korea

In 2022, the amount of cycles; parts thereof, saddleses exported from South Korea declined significantly to 2.2K units, falling by -47.8% on the year before. In general, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 1,840% against the previous year. As a result, the exports reached the peak of 4.1K units, and then declined remarkably in the following year.

In value terms, cycles; parts thereof, saddles exports shrank markedly to $63K in 2022. Overall, exports, however, saw significant growth. The pace of growth was the most pronounced in 2020 with an increase of 2,379%. Over the period under review, the exports reached the peak figure at $120K in 2021, and then plummeted in the following year.

Top Export Markets for Cycles; Parts Thereof, Saddles from South Korea in 2022:

1. Japan (1239.0 units)
2. China (377.0 units)
3. United States (308.0 units)
4. Nigeria (50.0 units)
5. Canada (34.0 units)
6. Germany (23.0 units)

Source: IndexBox Market Intelligence Platform