Price for Turbo-Jets, Turbo-Propellers and Other Gas Turbines in South Korea - 2022
Contents:
- Price for Turbo-Jets, Turbo-Propellers and Other Gas Turbines in South Korea (CIF) - 2022
- Price for Turbo-Jets, Turbo-Propellers and Other Gas Turbines in South Korea (FOB) - 2022
- Imports of Turbo-Jets, Turbo-Propellers and Other Gas Turbines in South Korea
- Exports of Turbo-Jets, Turbo-Propellers and Other Gas Turbines in South Korea
Price for Turbo-Jets, Turbo-Propellers and Other Gas Turbines in South Korea (CIF) - 2022
In 2022, the average import price for turbo-jets, turbo-propellers and other gas turbineses amounted to $565 thousand per unit, picking up by 10% against the previous year. Overall, the import price posted a buoyant expansion. The pace of growth was the most pronounced in 2014 an increase of 46% against the previous year. The import price peaked at $728 thousand per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($906 thousand per unit), while the price for China ($67 thousand per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Turbo-Jets, Turbo-Propellers and Other Gas Turbines in South Korea (FOB) - 2022
In 2022, the average export price for turbo-jets, turbo-propellers and other gas turbineses amounted to $777 thousand per unit, picking up by 43% against the previous year. In general, the export price continues to indicate a prominent increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($2.8 million per unit), while the average price for exports to Russia ($18 thousand 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 Hungary (+45.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Turbo-Jets, Turbo-Propellers and Other Gas Turbines in South Korea
In 2022, after three years of growth, there was decline in purchases abroad of turbo-jets, turbo-propellers and other gas turbineses, when their volume decreased by -1.6% to 3.2K units. The total import volume increased at an average annual rate of +11.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 22%. Imports peaked at 3.3K units in 2021, and then contracted modestly in the following year.
In value terms, imports of turbo-jets, turbo-propellers and other gas turbineses expanded rapidly to $1.8B in 2022. The total import value increased at an average annual rate of +2.4% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Turbo-Jets, Turbo-Propellers and Other Gas Turbines in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,107 | 1,150 | 1,044 | 1,346 | 6.7% |
| Japan | 127 | 228 | 168 | 103 | -6.7% |
| Germany | 59.0 | 31.1 | 140 | 58.9 | -0.1% |
| France | 38.9 | 72.1 | 49.4 | 42.6 | 3.1% |
| China | 19.2 | 16.7 | 17.0 | 37.1 | 24.6% |
| Italy | 30.3 | 39.7 | 90.2 | 34.1 | 4.0% |
| Others | 329 | 241 | 186 | 213 | -13.5% |
| Total | 1,710 | 1,778 | 1,694 | 1,835 | 2.4% |
Top Suppliers of Turbo-Jets, Turbo-Propellers and Other Gas Turbines to South Korea in 2022:
- United States (1485.0 units)
- China (554.0 units)
- Japan (337.0 units)
- Germany (296.0 units)
- Italy (180.0 units)
- France (109.0 units)
Exports of Turbo-Jets, Turbo-Propellers and Other Gas Turbines in South Korea
In 2022, shipments abroad of turbo-jets, turbo-propellers and other gas turbineses decreased by -34.3% to 688 units, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 71%. As a result, the exports reached the peak of 1.6K units. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of turbo-jets, turbo-propellers and other gas turbineses dropped to $534M in 2022. In general, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +5.4% 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 decreased by -37.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 86% against the previous year. As a result, the exports reached the peak of $852M. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Turbo-Jets, Turbo-Propellers and Other Gas Turbines in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 278 | 406 | 362 | 284 | 0.7% |
| Singapore | 2.4 | 52.5 | 2.8 | 42.7 | 161.1% |
| Japan | 24.3 | 23.4 | 6.4 | 27.6 | 4.3% |
| Vietnam | 2.4 | 3.3 | 7.7 | 26.9 | 123.8% |
| Germany | 8.8 | 40.9 | 5.2 | 23.9 | 39.5% |
| Taiwan (Chinese) | 8.3 | 11.5 | 23.7 | 16.3 | 25.2% |
| Mozambique | N/A | N/A | N/A | 6.5 | 0% |
| Slovakia | 14.1 | 17.1 | 16.2 | 6.0 | -24.8% |
| Switzerland | 1.6 | 18.2 | 31.0 | 5.3 | 49.1% |
| Malaysia | N/A | N/A | N/A | 3.8 | 0% |
| France | 19.4 | 0.8 | 2.7 | 3.4 | -44.0% |
| Hungary | N/A | N/A | 2.1 | 2.0 | -4.8% |
| United Arab Emirates | 0.1 | 36.4 | N/A | N/A | 36300.0% |
| Others | 97.2 | 242 | 107 | 85.5 | -4.2% |
| Total | 457 | 852 | 567 | 534 | 5.3% |
Top Export Markets for Turbo-Jets, Turbo-Propellers and Other Gas Turbines from South Korea in 2022:
- United States (208.0 units)
- Slovakia (205.0 units)
- Mozambique (52.0 units)
- Japan (33.0 units)
- Vietnam (27.0 units)
- Germany (18.0 units)
- Singapore (15.0 units)
- Hungary (14.0 units)
- Taiwan (Chinese) (12.0 units)
- France (11.0 units)
- Malaysia (11.0 units)
- Switzerland (11.0 units)
- United Arab Emirates (1.0 units)
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