Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in South Korea - 2022
Contents:
- Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in South Korea (CIF) - 2022
- Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in South Korea (FOB) - 2022
- Imports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in South Korea
- Exports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in South Korea
Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in South Korea (CIF) - 2022
The average import price for cycles; parts, pedals and crank-gear, and parts thereoves stood at $38,777 per ton in December 2022, dropping by -43.9% against the previous month. In general, the import price, however, posted a slight increase. The pace of growth appeared the most rapid in February 2022 when the average import price increased by 97% m-o-m. As a result, import price attained the peak level of $91,869 per ton. From March 2022 to December 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Taiwan (Chinese) ($92,535 per ton), while the price for China ($12,322 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in South Korea (FOB) - 2022
The average export price for cycles; parts, pedals and crank-gear, and parts thereoves stood at $29,050 per ton in 2022, shrinking by -11.5% against the previous year. Overall, the export price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2015 when the average export price increased by 1,289% against the previous year. The export price peaked at $180,238 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($98,531 per ton), while the average price for exports to Uzbekistan ($7,941 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 Taiwan (Chinese) (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in South Korea
In 2022, supplies from abroad of cycles; parts, pedals and crank-gear, and parts thereoves decreased by -9.9% to 145 tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +21.5% 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 +79.4% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 73%.
In value terms, imports of cycles; parts, pedals and crank-gear, and parts thereoves skyrocketed to $7.6M in 2022. Over the period under review, imports, however, recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 0.3 | 0.4 | 0.8 | 3.3 | 122.4% |
| Japan | 1.7 | 1.1 | 1.5 | 2.0 | 5.6% |
| China | 0.4 | 1.1 | 1.5 | 1.1 | 40.1% |
| Malaysia | 0.6 | 0.7 | 0.8 | 1.0 | 18.6% |
| Others | 0.3 | 0.5 | 0.5 | 0.3 | 0.0% |
| Total | 3.3 | 3.9 | 5.1 | 7.6 | 32.1% |
Top Suppliers of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof to South Korea in 2022:
- China (78.7 tons)
- Taiwan (Chinese) (22.9 tons)
- Japan (21.9 tons)
- Malaysia (19.7 tons)
Exports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in South Korea
In 2022, overseas shipments of cycles; parts, pedals and crank-gear, and parts thereoves increased by 534% to 4.1 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of cycles; parts, pedals and crank-gear, and parts thereoves surged to $119K in 2022. Over the period under review, exports, however, continue to indicate a precipitous contraction.
| Export of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 13.3 | 0.1 | 3.6 | 60.2 | 65.4% |
| Taiwan (Chinese) | 243 | N/A | N/A | 26.7 | -52.1% |
| Uzbekistan | N/A | N/A | N/A | 17.5 | 0% |
| Japan | 21.5 | 27.9 | 4.5 | 6.8 | -31.9% |
| United States | 0.2 | N/A | 1.7 | 4.6 | 184.4% |
| Russia | N/A | 0.1 | N/A | N/A | 0% |
| Nicaragua | 7.6 | N/A | N/A | N/A | 0% |
| Others | 4.0 | 3.8 | 11.5 | 3.6 | -3.5% |
| Total | 289 | 31.9 | 21.3 | 119 | -25.6% |
Top Export Markets for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof from South Korea in 2022:
- Uzbekistan (2204.0 kg)
- China (916.0 kg)
- Japan (455.0 kg)
- Taiwan (Chinese) (271.0 kg)
- United States (221.0 kg)
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