Price for Gloves, Mittens and Mitts; Knitted or Crocheted in South Korea - 2022

Contents:

1. Price for Gloves, Mittens and Mitts; Knitted or Crocheted in South Korea (CIF) - 2022
2. Price for Gloves, Mittens and Mitts; Knitted or Crocheted in South Korea (FOB) - 2022
3. Imports of Gloves, Mittens and Mitts; Knitted or Crocheted in South Korea
4. Exports of Gloves, Mittens and Mitts; Knitted or Crocheted in South Korea

Price for Gloves, Mittens and Mitts; Knitted or Crocheted in South Korea (CIF) - 2022

In December 2022, the average import price for gloves, mittens and mitts; knitted or crocheted amounted to $4.2 per pair, shrinking by -8.9% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in September 2022 an increase of 11% month-to-month. Over the period under review, average import prices attained the maximum at $5.2 per pair in October 2022; however, from November 2022 to December 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was China ($4.2 per pair), while the price for Vietnam amounted to $3.5 per pair.

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

Price for Gloves, Mittens and Mitts; Knitted or Crocheted in South Korea (FOB) - 2022

In December 2022, the average export price for gloves, mittens and mitts; knitted or crocheted amounted to $16.7 per pair, remaining relatively unchanged against the previous month. Over the period under review, the export price, however, recorded a mild reduction. The pace of growth appeared the most rapid in May 2022 when the average export price increased by 11% against the previous month. The export price peaked at $19.0 per pair in June 2022; however, from July 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 ($1.5 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 (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gloves, Mittens and Mitts; Knitted or Crocheted in South Korea

Imports of gloves, mittens and mitts; knitted or crocheted into South Korea was estimated at 437M pairs in 2022, picking up by 4.1% against 2021 figures. The total import volume increased at an average annual rate of +7.0% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 13%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, imports of gloves, mittens and mitts; knitted or crocheted expanded markedly to $185M in 2022. The total import value increased at an average annual rate of +10.8% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 24%. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Gloves, Mittens and Mitts; Knitted or Crocheted to South Korea in 2022:

1. China (219.4M pairs)
2. Vietnam (212.2M pairs)

Exports of Gloves, Mittens and Mitts; Knitted or Crocheted in South Korea

Exports of gloves, mittens and mitts; knitted or crocheted from South Korea fell to 57M pairs in 2022, waning by -4.9% compared with 2021 figures. In general, exports continue to indicate a perceptible reduction. The growth pace was the most rapid in 2021 with an increase of 4.2%. Over the period under review, the exports of hit record highs at 64M pairs in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of gloves, mittens and mitts; knitted or crocheted contracted to $95M in 2022. Overall, exports continue to indicate a deep contraction. The smallest decline of -0.6% was in 2021. The exports peaked at $139M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Top Export Markets for Gloves, Mittens and Mitts; Knitted or Crocheted from South Korea in 2022:

1. United States (25.3M pairs)
2. Mongolia (3.6M pairs)
3. France (3.0M pairs)
4. Germany (2.8M pairs)
5. Japan (2.2M pairs)
6. Vietnam (1.9M pairs)
7. Belgium (1.9M pairs)
8. Russia (1.6M pairs)
9. Netherlands (1.4M pairs)
10. Kiribati (1.3M pairs)
11. Taiwan (Chinese) (1.0M pairs)
12. Mexico (0.9M pairs)
13. United Kingdom (0.6M pairs)

Source: IndexBox Market Intelligence Platform