Price for Hand-Operated Spanners and Wrenches in South Korea - 2022
Contents:
- Price for Hand-Operated Spanners and Wrenches in South Korea (CIF) - 2022
- Price for Hand-Operated Spanners and Wrenches in South Korea (FOB) - 2022
- Imports of Hand-Operated Spanners and Wrenches in South Korea
- Exports of Hand-Operated Spanners and Wrenches in South Korea
Price for Hand-Operated Spanners and Wrenches in South Korea (CIF) - 2022
In 2022, the average hand-operated spanners and wrenches import price amounted to $10,051 per ton, dropping by -2.9% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 7.5%. The import price peaked at $10,372 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($55,347 per ton), while the price for India ($3,299 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Hand-Operated Spanners and Wrenches in South Korea (FOB) - 2022
The average hand-operated spanners and wrenches export price stood at $11,922 per ton in 2022, with a decrease of -2.5% against the previous year. In general, the export price, however, saw perceptible growth. The most prominent rate of growth was recorded in 2018 an increase of 39% against the previous year. The export price peaked at $12,229 per ton in 2021, and then contracted slightly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($16,350 per ton), while the average price for exports to the Czech Republic ($3,054 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 the United States (+9.7%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Hand-Operated Spanners and Wrenches in South Korea
In 2022, after three years of growth, there was significant decline in supplies from abroad of hand-operated spanners and wrencheses, when their volume decreased by -7.7% to 5K tons. The total import volume increased at an average annual rate of +3.4% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 18%. As a result, imports attained the peak of 5.4K tons, and then declined in the following year.
In value terms, hand-operated spanners and wrenches imports contracted to $50M in 2022. The total import value increased at an average annual rate of +3.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. As a result, imports reached the peak of $56M, and then declined in the following year.
| Import of Hand-Operated Spanners and Wrenches in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 13.8 | 14.6 | 17.8 | 17.7 | 8.7% |
| Japan | 13.8 | 12.4 | 13.5 | 11.6 | -5.6% |
| Taiwan (Chinese) | 9.5 | 9.7 | 11.4 | 11.4 | 6.3% |
| United States | 3.0 | 2.7 | 3.1 | 3.1 | 1.1% |
| India | 0.4 | 0.7 | 0.6 | 0.6 | 14.5% |
| Others | 4.0 | 4.1 | 9.2 | 5.6 | 11.9% |
| Total | 44.6 | 44.1 | 55.6 | 49.9 | 3.8% |
Top Suppliers of Hand-Operated Spanners and Wrenches to South Korea in 2022:
- China (2956.0 tons)
- Taiwan (Chinese) (1137.6 tons)
- Japan (466.2 tons)
- India (179.4 tons)
- United States (99.4 tons)
Exports of Hand-Operated Spanners and Wrenches in South Korea
In 2022, the amount of hand-operated spanners and wrencheses exported from South Korea declined slightly to 497 tons, falling by -4.5% compared with 2021 figures. In general, exports saw a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 0.9%.
In value terms, hand-operated spanners and wrenches exports reduced to $5.9M in 2022. Over the period under review, exports showed a noticeable shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 16% against the previous year.
| Export of Hand-Operated Spanners and Wrenches in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,736 | 2,312 | 3,603 | 3,244 | 23.2% |
| Japan | 484 | 483 | 388 | 453 | -2.2% |
| China | 498 | 375 | 370 | 333 | -12.6% |
| Mexico | 407 | 172 | 209 | 188 | -22.7% |
| Vietnam | 239 | 252 | 159 | 143 | -15.7% |
| Czech Republic | 212 | 112 | 76.8 | 82.9 | -26.9% |
| Brazil | 664 | 80.8 | 69.0 | 66.1 | -53.7% |
| Others | 2,385 | 1,704 | 1,489 | 1,419 | -15.9% |
| Total | 6,625 | 5,493 | 6,365 | 5,929 | -3.6% |
Top Export Markets for Hand-Operated Spanners and Wrenches from South Korea in 2022:
- United States (198.4 tons)
- Japan (71.0 tons)
- Mexico (50.6 tons)
- China (31.8 tons)
- Czech Republic (27.2 tons)
- Vietnam (23.9 tons)
- Brazil (15.6 tons)
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