Price for Cycles; Parts Thereof, Wheel Rims and Spokes in South Korea - 2022

Contents:

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

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in South Korea (CIF) - 2022

In December 2022, the average import price for cycles; parts thereof, wheel rims and spokeses amounted to $38,112 per ton, dropping by -45.6% against the previous month. Over the period under review, the import price, however, saw a perceptible expansion. The growth pace was the most rapid in March 2022 when the average import price increased by 117% against the previous month. As a result, import price reached the peak level of $83,561 per ton. From April 2022 to December 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Malaysia ($75,830 per ton), while the price for China ($13,729 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in South Korea (FOB) - 2022

In 2022, the average export price for cycles; parts thereof, wheel rims and spokeses amounted to $10,324 per ton, dropping by -26.9% against the previous year. Over the period under review, the export price, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 298%. The export price peaked at $14,975 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($131,146 per ton), while the average price for exports to Liberia ($260 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 Myanmar (+110.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in South Korea

In 2022, purchases abroad of cycles; parts thereof, wheel rims and spokeses decreased by -31.8% to 154 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 58% against the previous year.

In value terms, imports of cycles; parts thereof, wheel rims and spokeses reached $6.7M in 2022. Over the period under review, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 88% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Top Suppliers of Cycles; Parts Thereof, Wheel Rims and Spokes to South Korea in 2022:

1. China (124.4 tons)
2. Taiwan (Chinese) (10.2 tons)
3. Malaysia (7.9 tons)
4. United States (3.3 tons)
5. Poland (2.4 tons)

Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in South Korea

In 2022, overseas shipments of cycles; parts thereof, wheel rims and spokeses were finally on the rise to reach 5.2 tons after two years of decline. Over the period under review, exports, however, saw a abrupt shrinkage.

In value terms, exports of cycles; parts thereof, wheel rims and spokeses surged to $54K in 2022. In general, exports, however, recorded a deep reduction.

Top Export Markets for Cycles; Parts Thereof, Wheel Rims and Spokes from South Korea in 2022:

1. Kyrgyzstan (1550.0 kg)
2. Thailand (1084.0 kg)
3. Tajikistan (570.0 kg)
4. Liberia (500.0 kg)
5. Nigeria (500.0 kg)
6. Myanmar (427.0 kg)
7. Kenya (262.0 kg)
8. China (253.0 kg)

Source: IndexBox Market Intelligence Platform