Price for Household or Laundry-Type Washing Machine in South Korea - 2022

Price for Household or Laundry-Type Washing Machine in South Korea (FOB) - 2022

In 2021, the average export price for household or laundry-type washing machines amounted to $461 per unit, declining by -6.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2018 when the average export price increased by 12%. The export price peaked at $493 per unit in 2020, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($1,019 per unit), while the average price for exports to Iran ($173 per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Household or Laundry-Type Washing Machine in South Korea (CIF) - 2022

The average import price for household or laundry-type washing machines stood at $295 per unit in 2021, rising by 5.3% against the previous year. Overall, the import price, however, continues to indicate a pronounced decrease. Over the period under review, average import prices hit record highs at $419 per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($250 per unit), while the price for China ($188 per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-0.6%), while the prices for the other major suppliers experienced a decline.

Exports of Household or Laundry-Type Washing Machine in South Korea

Household or laundry-type washing machine exports from South Korea shrank rapidly to 1.7M units in 2022, dropping by -20.5% on 2021 figures. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +8.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +34.7% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 69% against the previous year. As a result, the exports attained the peak of 2.1M units, and then fell rapidly in the following year.

In value terms, household or laundry-type washing machine exports declined significantly to $782M in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +8.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +29.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 58%. As a result, the exports attained the peak of $958M, and then declined remarkably in the following year.

Export of Household or Laundry-Type Washing Machine in South Korea (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
United States	176	242	554	77.4%
Canada	13.1	13.7	66.9	126.0%
China	48.9	45.1	46.7	-2.3%
Thailand	47.0	51.6	45.9	-1.2%
Vietnam	36.2	40.0	38.0	2.5%
Taiwan (Chinese)	52.9	41.6	34.9	-18.8%
Russia	19.2	29.6	29.4	23.7%
Mexico	25.7	12.1	22.4	-6.6%
Saudi Arabia	21.7	17.2	13.6	-20.8%
United Arab Emirates	9.2	5.8	12.0	14.2%
India	11.8	11.5	11.5	-1.3%
Egypt	15.6	13.0	10.3	-18.7%
Others	132	82.3	72.0	-26.1%
Total	609	605	958	25.4%

Top Export Markets for Household or Laundry-Type Washing Machine from South Korea in 2022:

United States (1551.7K units)
Canada (193.6K units)
Thailand (105.7K units)
Taiwan (Chinese) (73.3K units)
Russia (56.9K units)
United Arab Emirates (54.1K units)
Mexico (50.3K units)
India (46.3K units)
China (45.9K units)
Vietnam (35.0K units)
Saudi Arabia (29.5K units)
Egypt (28.6K units)

Imports of Household or Laundry-Type Washing Machine in South Korea

In 2022, after three years of growth, there was decline in supplies from abroad of household or laundry-type washing machines, when their volume decreased by -2.1% to 1.6M units. The total import volume increased at an average annual rate of +10.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 32%. Over the period under review, imports hit record highs at 1.7M units in 2021, and then reduced slightly in the following year.

In value terms, household or laundry-type washing machine imports dropped modestly to $467M in 2022. The total import value increased at an average annual rate of +6.8% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 16%. Imports peaked at $489M in 2021, and then contracted in the following year.