Republic of Korea: Market for Instrument Panel And Wall Clocks 2022

Market Size for Instrument Panel And Wall Clocks in Republic of Korea

In 2020, the South Korean market for instrument panel and wall clocks increased by X% to $X, rising for the eighth year in a row after two years of decline. Over the period under review, consumption, however, saw a measured expansion. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Instrument panel and wall clock consumption peaked in 2020 and is likely to continue growth in the immediate term.

Production of Instrument Panel And Wall Clocks in Republic of Korea

In value terms, instrument panel and wall clock production fell dramatically to $X in 2020 estimated in export prices. In general, production showed a noticeable shrinkage. The pace of growth was the most pronounced in 2012 with an increase of X% against the previous year. Instrument panel and wall clock production peaked at $X in 2013; however, from 2014 to 2020, production failed to regain the momentum.

Exports of Instrument Panel And Wall Clocks

Exports from Republic of Korea

In 2020, overseas shipments of instrument panel and wall clocks decreased by -X% to X tons, falling for the eighth consecutive year after three years of growth. Over the period under review, exports faced a abrupt slump. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Exports peaked at X tons in 2012; however, from 2013 to 2020, exports failed to regain the momentum.

In value terms, instrument panel and wall clock exports reduced to $X in 2020. In general, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Over the period under review, exports reached the peak figure at $X in 2013; however, from 2014 to 2020, exports failed to regain the momentum.

Exports by Country

China (X tons), Japan (X tons) and the United States (X tons) were the main destinations of instrument panel and wall clock exports from South Korea, with a combined X% share of total exports.

From 2007 to 2020, the biggest increases were in Japan, while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for instrument panel and wall clock exported from South Korea were China ($X), the United States ($X) and Japan ($X), with a combined X% share of total exports.

Japan saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average export price for instrument panel and wall clocks amounted to $X per ton, rising by X% against the previous year. Overall, the export price saw a remarkable increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% y-o-y. The export price peaked at $X per ton in 2016; however, from 2017 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United States, while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instrument Panel And Wall Clocks

Imports into Republic of Korea

In 2020, overseas purchases of instrument panel and wall clocks were finally on the rise to reach X tons after two years of decline. In general, imports, however, recorded a pronounced decline. The pace of growth appeared the most rapid in 2010 with an increase of X% year-to-year. Over the period under review, imports attained the maximum at X tons in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, instrument panel and wall clock imports rose modestly to $X in 2020. Overall, total imports indicated notable growth from 2007 to 2020: its value decreased at an average annual rate of -X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2012 indices. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2020 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2020, China (X tons) was the main supplier of instrument panel and wall clock to South Korea, accounting for a approx. X% share of total imports.

From 2007 to 2020, the average annual growth rate of volume from China totaled -X%.

In value terms, China ($X) constituted the largest supplier of instrument panel and wall clock to South Korea.

From 2007 to 2020, the average annual rate of growth in terms of value from China amounted to +X%.

Import Prices by Country

In 2020, the average import price for instrument panel and wall clocks amounted to $X per ton, rising by X% against the previous year. Overall, import price indicated a strong increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, instrument panel and wall clock import price increased by +X% against 2013 indices. The pace of growth was the most pronounced in 2009 an increase of X% year-to-year. The import price peaked in 2020 and is expected to retain growth in the immediate term.

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

From 2007 to 2020, the rate of growth in terms of prices for China amounted to +X% per year.

Source: IndexBox Platform

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