Price for Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in South Korea - 2022

Contents:

1. Price for Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in South Korea (CIF) - 2022
2. Price for Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in South Korea (FOB) - 2022
3. Imports of Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in South Korea
4. Exports of Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in South Korea

Price for Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in South Korea (CIF) - 2022

In December 2022, the average import price for ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s amounted to $1.5 per unit, shrinking by -2.6% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in June 2022 when the average import price increased by 64% month-to-month. As a result, import price reached the peak level of $2.3 per unit. From July 2022 to December 2022, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From January 2022 to December 2022, the rate of growth in terms of prices for China amounted to -0.2% per month.

Price for Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in South Korea (FOB) - 2022

The average export price for ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s stood at $5.6 per unit in 2022, shrinking by -27.4% against the previous year. In general, the export price, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2021 when the average export price increased by 85% against the previous year. As a result, the export price reached the peak level of $7.7 per unit, and then declined remarkably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($10 per unit), while the average price for exports to Bangladesh ($47 per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in South Korea

In 2022, after two years of decline, there was significant growth in supplies from abroad of ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s, when their volume increased by 37% to 1.5M units. In general, imports, however, recorded a noticeable descent. Imports peaked at 1.7M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s skyrocketed to $2.3M in 2022. Over the period under review, total imports indicated a notable expansion from 2019 to 2022: its value increased at an average annual rate of +3.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) to South Korea in 2022:

1. China (1520.0K units)

Exports of Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in South Korea

For the third year in a row, South Korea recorded decline in overseas shipments of ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s, which decreased by -16.5% to 15K units in 2022. In general, exports showed a dramatic decline. Over the period under review, the exports of hit record highs at 47K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s dropped sharply to $82K in 2022. Overall, exports recorded a significant decrease. The growth pace was the most rapid in 2021 when exports increased by 32% against the previous year. Over the period under review, the exports of hit record highs at $187K in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Top Export Markets for Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) from South Korea in 2022:

1. Japan (5.7K units)
2. China (4.2K units)
3. United States (3.7K units)
4. Bangladesh (0.3K units)
5. Australia (0.2K units)

Source: IndexBox Market Intelligence Platform