Republic of Korea: Totaliser Market 2024

Totaliser Market Size in Republic of Korea

The South Korean totaliser market fell significantly to $X in 2021, reducing by -46.2% against the previous year. In general, consumption showed a abrupt decrease. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Totaliser Production in Republic of Korea

In value terms, totaliser production fell modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 131% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Totaliser Exports

Exports from Republic of Korea

In 2021, the amount of continuous and discontinuous totalisers exported from South Korea soared to X units, with an increase of 217% compared with the previous year's figure. In general, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, totaliser exports contracted to $X in 2021. Over the period under review, exports, however, continue to indicate a mild descent. The most prominent rate of growth was recorded in 2017 when exports increased by 38%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Hungary (X units), the United States (X units) and Vietnam (X units) were the main destinations of totaliser exports from South Korea, with a combined 9.4% share of total exports. These countries were followed by Norway, South Africa, Australia, China, Russia, Malaysia, Japan, Peru and Indonesia, which together accounted for a further 5.4%.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +73.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), China ($X) and the United States ($X) were the largest markets for totaliser exported from South Korea worldwide, with a combined 44% share of total exports.

Hungary, with a CAGR of +39.3%, recorded 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

The average totaliser export price stood at $X per unit in 2021, which is down by -71.7% against the previous year. Over the period under review, the export price faced a sharp decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 15%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Norway ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.3%), while the prices for the other major destinations experienced a decline.

Totaliser Imports

Imports into Republic of Korea

Totaliser imports into South Korea skyrocketed to X units in 2021, jumping by 29% against 2020. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 226%. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, totaliser imports surged to $X in 2021. In general, imports saw perceptible growth. The pace of growth was the most pronounced in 2016 with an increase of 165%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Switzerland (X units) constituted the largest totaliser supplier to South Korea, with a 29% share of total imports. Moreover, totaliser imports from Switzerland exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was held by the United States (X units), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Switzerland stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-12.7% per year) and the United States (+41.7% per year).

In value terms, Switzerland ($X) constituted the largest supplier of continuous and discontinuous totalisers to South Korea, comprising 42% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Iceland, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Switzerland amounted to +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-9.6% per year) and Iceland (+23.5% per year).

Import Prices by Country

In 2021, the average totaliser import price amounted to $X per unit, increasing by 11% against the previous year. Overall, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, totaliser import price increased by +36.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 106% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+446.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :