Price for Machinery; Parts of the Machinery of Heading No. 8425 in South Korea - 2022
Contents:
- Price for Machinery; Parts of the Machinery of Heading No. 8425 in South Korea (CIF) - 2022
- Price for Machinery; Parts of the Machinery of Heading No. 8425 in South Korea (FOB) - 2022
- Imports of Machinery; Parts of the Machinery of Heading No. 8425 in South Korea
- Exports of Machinery; Parts of the Machinery of Heading No. 8425 in South Korea
Price for Machinery; Parts of the Machinery of Heading No. 8425 in South Korea (CIF) - 2022
The average import price for machinery; parts of the machinery of heading no. 8425 stood at $5,087 per ton in 2022, shrinking by -9.1% against the previous year. Over the period under review, the import price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2013 an increase of 13%. As a result, import price reached the peak level of $10,215 per ton. From 2014 to 2022, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($29,162 per ton), while the price for China ($2,659 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Machinery; Parts of the Machinery of Heading No. 8425 in South Korea (FOB) - 2022
The average export price for machinery; parts of the machinery of heading no. 8425 stood at $7,705 per ton in 2022, with an increase of 6.3% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 7.3% against the previous year. Over the period under review, the average export prices reached the maximum at $8,271 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($23,551 per ton), while the average price for exports to Japan ($2,374 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Machinery; Parts of the Machinery of Heading No. 8425 in South Korea
In 2022, the amount of machinery; parts of the machinery of heading no. 8425 imported into South Korea soared to 9.4K tons, increasing by 20% on the year before. The total import volume increased at an average annual rate of +5.9% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of machinery; parts of the machinery of heading no. 8425 stood at $48M in 2022. The total import value increased at an average annual rate of +4.5% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Machinery; Parts of the Machinery of Heading No. 8425 in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 14.4 | 13.7 | 15.8 | 21.4 | 14.1% |
| Poland | 5.3 | 4.2 | 6.9 | 9.8 | 22.7% |
| Finland | 3.1 | 4.1 | 3.5 | 4.0 | 8.9% |
| United States | 4.0 | 3.5 | 3.7 | 2.6 | -13.4% |
| Indonesia | N/A | 2.4 | N/A | N/A | 0% |
| Others | 15.0 | 11.3 | 13.8 | 9.8 | -13.2% |
| Total | 41.7 | 39.2 | 43.7 | 47.6 | 4.5% |
Top Suppliers of Machinery; Parts of the Machinery of Heading No. 8425 to South Korea in 2022:
- China (8.1K tons)
- Poland (0.6K tons)
- Finland (0.2K tons)
- United States (0.1K tons)
Exports of Machinery; Parts of the Machinery of Heading No. 8425 in South Korea
In 2022, exports of machinery; parts of the machinery of heading no. 8425 from South Korea reduced to 1.9K tons, declining by -10.9% on 2021. Overall, exports continue to indicate a drastic downturn. The growth pace was the most rapid in 2021 when exports increased by 24%.
In value terms, exports of machinery; parts of the machinery of heading no. 8425 fell to $14M in 2022. Over the period under review, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 17% against the previous year.
| Export of Machinery; Parts of the Machinery of Heading No. 8425 in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 5.4 | 2.0 | 1.8 | 2.7 | -20.6% |
| Sweden | N/A | N/A | 2.1 | 2.7 | 28.6% |
| Japan | 1.6 | 1.1 | 2.4 | 1.8 | 4.0% |
| Vietnam | 0.8 | 0.6 | 1.0 | 1.6 | 26.0% |
| Canada | 0.7 | 4.7 | 0.9 | 1.2 | 19.7% |
| Taiwan (Chinese) | 0.4 | 0.8 | 0.7 | 1.0 | 35.7% |
| Indonesia | 0.3 | 0.2 | 0.4 | 0.4 | 10.1% |
| China | 0.4 | 0.3 | 1.2 | 0.3 | -9.1% |
| Qatar | N/A | 0.4 | 0.4 | 0.2 | -29.3% |
| Singapore | 3.2 | 0.2 | 0.6 | 0.2 | -60.3% |
| Russia | N/A | N/A | 1.3 | N/A | 0% |
| Saudi Arabia | 0.1 | 0.4 | 0.2 | N/A | 41.4% |
| Australia | 1.7 | 1.2 | 0.3 | N/A | -58.0% |
| Others | 3.3 | 1.1 | 2.0 | 2.3 | -11.3% |
| Total | 18.1 | 13.0 | 15.2 | 14.4 | -7.3% |
Top Export Markets for Machinery; Parts of the Machinery of Heading No. 8425 from South Korea in 2022:
- Japan (768.6 tons)
- United States (231.7 tons)
- Taiwan (Chinese) (148.2 tons)
- Vietnam (138.6 tons)
- Sweden (115.3 tons)
- Canada (91.8 tons)
- Indonesia (80.4 tons)
- Qatar (23.9 tons)
- China (21.0 tons)
- Singapore (16.3 tons)
- Australia (3.6 tons)
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