Price for Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in South Korea - 2022

Contents:

1. Price for Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in South Korea (CIF) - 2022
2. Price for Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in South Korea (FOB) - 2022
3. Imports of Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in South Korea
4. Exports of Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in South Korea

Price for Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in South Korea (CIF) - 2022

In 2022, the average import price for sound recording or reproducing apparatus; turntables (record-decks)s amounted to $78 per unit, increasing by 8.6% against the previous year. Overall, the import price, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 17%. The import price peaked at $215 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($78 per unit) and Japan ($78 per unit), while the price for the United States ($78 per unit) and Malaysia ($78 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-7.7%), while the prices for the other major suppliers experienced a decline.

Price for Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in South Korea (FOB) - 2022

The average export price for sound recording or reproducing apparatus; turntables (record-decks)s stood at $157 per unit in 2022, with an increase of 6.8% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +9.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for sound recording or reproducing apparatus; turntables (record-decks)s increased by +62.1% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by 35% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($534 per unit), while the average price for exports to Denmark ($64 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+34.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in South Korea

In 2022, after three years of growth, there was significant decline in supplies from abroad of sound recording or reproducing apparatus; turntables (record-decks)s, when their volume decreased by -8.4% to 70K units. Over the period under review, imports, however, saw a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 64%. As a result, imports attained the peak of 76K units, and then dropped in the following year.

In value terms, imports of sound recording or reproducing apparatus; turntables (record-decks)s declined to $5.4M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +15.3% 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 +53.2% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 37% against the previous year. Over the period under review, imports of hit record highs at $5.5M in 2021, and then dropped slightly in the following year.

Top Suppliers of Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) to South Korea in 2022:

1. China (50.4K units)
2. Taiwan (Chinese) (3.3K units)
3. Japan (3.2K units)
4. United Kingdom (2.9K units)
5. Germany (2.8K units)
6. Malaysia (2.6K units)
7. United States (1.6K units)

Exports of Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in South Korea

In 2022, approx. 619 units of sound recording or reproducing apparatus; turntables (record-decks)s were exported from South Korea; almost unchanged from the year before. In general, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +21.6% 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 +79.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49%. Over the period under review, the exports of reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of sound recording or reproducing apparatus; turntables (record-decks)s expanded remarkably to $97K in 2022. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 85%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Top Export Markets for Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) from South Korea in 2022:

1. Denmark (413.0 units)
2. United States (72.0 units)
3. Japan (56.0 units)
4. United Kingdom (18.0 units)
5. New Zealand (10.0 units)

Source: IndexBox Market Intelligence Platform