Price for Electrical Push-Button and Rotary Switch in South Korea - 2022
Contents:
- Price for Electrical Push-Button and Rotary Switch in South Korea (CIF) - 2022
- Price for Electrical Push-Button and Rotary Switch in South Korea (FOB) - 2022
- Imports of Electrical Push-Button and Rotary Switch in South Korea
- Exports of Electrical Push-Button and Rotary Switch in South Korea
Price for Electrical Push-Button and Rotary Switch in South Korea (CIF) - 2022
In December 2022, the average import price for electrical push-button and rotary switches for under 1000 v amounted to $2.3 per unit, with a decrease of -7.8% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2022 when the average import price increased by 22% against the previous month. As a result, import price reached the peak level of $2.7 per unit. From March 2022 to December 2022, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($11.8 per unit), while the price for Indonesia ($644 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 the United States (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electrical Push-Button and Rotary Switch in South Korea (FOB) - 2022
The average export price for electrical push-button and rotary switches for under 1000 v stood at $1.2 per unit in 2022, rising by 5.8% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 10% against the previous year. Over the period under review, the average export prices reached the peak figure at $1.3 per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($2 per unit), while the average price for exports to Iraq ($0.6 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 Vietnam (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electrical Push-Button and Rotary Switch in South Korea
In 2022, imports of electrical push-button and rotary switches for under 1000 v into South Korea shrank rapidly to 242M units, reducing by -18.6% against the year before. Overall, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +5.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 55%. As a result, imports attained the peak of 297M units, and then shrank significantly in the following year.
In value terms, electrical push-button and rotary switch imports reached $403M in 2022. The total import value increased at an average annual rate of +2.3% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 13% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.
| Import of Electrical Push-Button and Rotary Switch in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 144 | 124 | 146 | 130 | -3.4% |
| Japan | 79.0 | 81.7 | 76.0 | 84.1 | 2.1% |
| United States | 38.5 | 31.3 | 41.3 | 40.5 | 1.7% |
| Vietnam | 20.5 | 26.8 | 33.2 | 39.5 | 24.4% |
| Germany | 22.1 | 20.3 | 25.8 | 25.1 | 4.3% |
| France | 6.5 | 6.0 | 7.1 | 8.0 | 7.2% |
| Indonesia | 7.1 | 7.1 | 7.1 | 6.7 | -1.9% |
| Italy | 9.3 | 8.3 | 4.3 | 3.9 | -25.1% |
| Others | 50.1 | 46.9 | 57.9 | 65.5 | 9.3% |
| Total | 377 | 353 | 399 | 403 | 2.2% |
Top Suppliers of Electrical Push-Button and Rotary Switch to South Korea in 2022:
- China (123.7M units)
- Vietnam (32.7M units)
- Japan (23.3M units)
- Indonesia (14.0M units)
- France (6.5M units)
- Germany (5.5M units)
- United States (4.3M units)
- Italy (3.1M units)
Exports of Electrical Push-Button and Rotary Switch in South Korea
In 2022, exports of electrical push-button and rotary switches for under 1000 v from South Korea dropped to 281M units, shrinking by -7.6% on 2021 figures. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 20%. As a result, the exports reached the peak of 304M units, and then shrank in the following year.
In value terms, electrical push-button and rotary switch exports dropped slightly to $342M in 2022. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 21% against the previous year. As a result, the exports attained the peak of $350M, and then shrank modestly in the following year.
| Export of Electrical Push-Button and Rotary Switch in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 55.8 | 58.6 | 84.0 | 88.0 | 16.4% |
| China | 57.7 | 50.1 | 49.4 | 45.7 | -7.5% |
| Vietnam | 73.6 | 43.8 | 50.0 | 43.0 | -16.4% |
| India | 25.9 | 22.3 | 27.3 | 30.6 | 5.7% |
| Japan | 17.6 | 11.7 | 16.8 | 17.0 | -1.1% |
| Mexico | 13.9 | 11.1 | 14.7 | 15.7 | 4.1% |
| Turkey | 4.8 | 7.2 | 10.6 | 12.9 | 39.0% |
| Malaysia | 7.6 | 5.8 | 7.7 | 7.5 | -0.4% |
| Spain | 7.5 | 7.7 | 8.0 | 6.2 | -6.1% |
| United Arab Emirates | 3.2 | 4.4 | 2.4 | 5.1 | 16.8% |
| Brazil | 4.8 | 2.7 | 3.8 | 3.2 | -12.6% |
| Iraq | 2.9 | 3.6 | 5.0 | 2.8 | -1.2% |
| Egypt | 3.8 | 2.6 | 5.4 | 2.2 | -16.7% |
| Others | 70.6 | 58.5 | 64.8 | 62.2 | -4.1% |
| Total | 350 | 290 | 350 | 342 | -0.8% |
Top Export Markets for Electrical Push-Button and Rotary Switch from South Korea in 2022:
- United States (71.7M units)
- China (36.7M units)
- Vietnam (26.0M units)
- India (18.5M units)
- Mexico (17.2M units)
- Turkey (15.0M units)
- Spain (8.9M units)
- Japan (8.4M units)
- United Arab Emirates (8.3M units)
- Malaysia (7.3M units)
- Brazil (4.7M units)
- Iraq (4.6M units)
- Egypt (3.2M units)
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