Price for Inner Tubes, of Rubber in South Korea - 2022

Contents:

1. Price for Inner Tubes, of Rubber in South Korea (FOB) - 2022
2. Price for Inner Tubes, of Rubber in South Korea (CIF) - 2022
3. Exports of Inner Tubes, of Rubber in South Korea
4. Imports of Inner Tubes, of Rubber in South Korea

Price for Inner Tubes, of Rubber in South Korea (FOB) - 2022

The average inner tubes, of rubber export price stood at $8.1 per unit in December 2022, approximately equating the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.0%. The pace of growth was the most pronounced in January 2022 an increase of 13% month-to-month. The export price peaked at $8.1 per unit in May 2022; afterwards, it flattened through to December 2022.

Average prices varied noticeably for the major external markets. In December 2022, the countries with the highest prices were China ($8.1 per unit) and the Philippines ($8.1 per unit), while the average price for exports to Sudan ($8.0 per unit) and Germany ($8.0 per unit) were amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Inner Tubes, of Rubber in South Korea (CIF) - 2022

In December 2022, the average inner tubes, of rubber import price amounted to $1.7 per unit, reducing by -12.1% against the previous month. Over the period under review, the import price saw a mild shrinkage. The most prominent rate of growth was recorded in May 2022 an increase of 30% against the previous month. Over the period under review, average import prices attained the peak figure at $2.8 per unit in August 2022; however, from September 2022 to December 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Indonesia ($5.5 per unit), while the price for Taiwan (Chinese) ($1.4 per unit) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Inner Tubes, of Rubber in South Korea

In 2022, overseas shipments of inner tubes, of rubbers increased by 12% to 16M units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a abrupt setback. The exports peaked at 21M units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, inner tubes, of rubber exports contracted to $115M in 2022. Overall, exports, however, saw a noticeable setback. The growth pace was the most rapid in 2021 with an increase of 12% against the previous year. Over the period under review, the exports attained the maximum at $129M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Top Export Markets for Inner Tubes, of Rubber from South Korea in 2022:

1. Philippines (5.9M units)
2. United States (2.5M units)
3. United Arab Emirates (1.5M units)
4. Saudi Arabia (0.7M units)
5. Japan (0.6M units)
6. Malaysia (0.4M units)
7. Libya (0.3M units)
8. China (0.3M units)
9. Sri Lanka (0.3M units)
10. Australia (0.2M units)
11. Iraq (0.2M units)
12. Thailand (0.2M units)

Imports of Inner Tubes, of Rubber in South Korea

In 2022, the amount of inner tubes, of rubbers imported into South Korea amounted to 3.6M units, increasing by 3% compared with 2021. Overall, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +22.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.1% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 88% against the previous year. As a result, imports attained the peak of 3.7M units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, inner tubes, of rubber imports fell to $4.9M in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +16.1% 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 +56.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 53%. Imports peaked at $5M in 2021, and then reduced modestly in the following year.

Top Suppliers of Inner Tubes, of Rubber to South Korea in 2022:

1. China (1740.8K units)
2. Vietnam (1078.1K units)
3. United Arab Emirates (387.8K units)
4. Indonesia (153.3K units)
5. Thailand (131.4K units)

Source: IndexBox Market Intelligence Platform