Price for Gloves; Knitted or Crocheted, Impregnated, Coated or Covered with Plastics or Rubber in South Korea - 2022

Contents:

1. Price for Gloves; Knitted or Crocheted, Impregnated, Coated or Covered with Plastics or Rubber in South Korea (CIF) - 2022
2. Price for Gloves; Knitted or Crocheted, Impregnated, Coated or Covered with Plastics or Rubber in South Korea (FOB) - 2022
3. Imports of Gloves; Knitted or Crocheted, Impregnated, Coated or Covered with Plastics or Rubber in South Korea
4. Exports of Gloves; Knitted or Crocheted, Impregnated, Coated or Covered with Plastics or Rubber in South Korea

Price for Gloves; Knitted or Crocheted, Impregnated, Coated or Covered with Plastics or Rubber in South Korea (CIF) - 2022

The average import price for gloves; knitted or crocheted, impregnated, coated or covered with plastics or rubber stood at $4.3 per pair in December 2022, growing by 2.2% against the previous month. Over the period under review, the import price, however, showed a slight shrinkage. The pace of growth appeared the most rapid in May 2022 when the average import price increased by 7.7% m-o-m. As a result, import price reached the peak level of $5.0 per pair. From June 2022 to December 2022, the average import prices remained at a 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 China ($7.7 per pair), while the price for Vietnam totaled $3.2 per pair.

From January 2022 to December 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-0.4%).

Price for Gloves; Knitted or Crocheted, Impregnated, Coated or Covered with Plastics or Rubber in South Korea (FOB) - 2022

In December 2022, the average export price for gloves; knitted or crocheted, impregnated, coated or covered with plastics or rubber amounted to $19.0 per pair, rising by 5.4% against the previous month. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in May 2022 when the average export price increased by 19% against the previous month. Over the period under review, the average export prices hit record highs at $20.5 per pair in March 2022; however, from April 2022 to December 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Belgium ($39.4 per pair), while the average price for exports to the Philippines ($3.1 per pair) was amongst the lowest.

From January 2022 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gloves; Knitted or Crocheted, Impregnated, Coated or Covered with Plastics or Rubber in South Korea

For the fourth year in a row, South Korea recorded growth in overseas purchases of gloves; knitted or crocheted, impregnated, coated or covered with plastics or rubber, which increased by 4.2% to 21M pairs in 2022. The total import volume increased at an average annual rate of +11.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 18%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of gloves; knitted or crocheted, impregnated, coated or covered with plastics or rubber rose sharply to $98M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +15.4% 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 +53.7% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Gloves; Knitted or Crocheted, Impregnated, Coated or Covered with Plastics or Rubber to South Korea in 2022:

1. Vietnam (17.4M pairs)
2. China (3.5M pairs)

Exports of Gloves; Knitted or Crocheted, Impregnated, Coated or Covered with Plastics or Rubber in South Korea

For the third consecutive year, South Korea recorded decline in shipments abroad of gloves; knitted or crocheted, impregnated, coated or covered with plastics or rubber, which decreased by -0.1% to 4.4M pairs in 2022. Over the period under review, exports saw a relatively flat trend pattern. Over the period under review, the exports of reached the maximum at 4.5M pairs in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of gloves; knitted or crocheted, impregnated, coated or covered with plastics or rubber contracted to $84M in 2022. In general, exports showed a abrupt downturn. The smallest decline of -2.4% was in 2021. The exports peaked at $101M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Top Export Markets for Gloves; Knitted or Crocheted, Impregnated, Coated or Covered with Plastics or Rubber from South Korea in 2022:

1. United States (2174.0K pairs)
2. France (281.4K pairs)
3. Germany (214.0K pairs)
4. Belgium (179.9K pairs)
5. Japan (177.4K pairs)
6. Mongolia (155.2K pairs)
7. Vietnam (152.4K pairs)
8. Netherlands (118.5K pairs)
9. Taiwan (Chinese) (103.2K pairs)
10. Mexico (85.8K pairs)
11. Australia (61.0K pairs)
12. Finland (60.2K pairs)
13. United Kingdom (58.3K pairs)

Source: IndexBox Market Intelligence Platform