Republic of Korea: Calculator Market 2024

Calculator Market Size in Republic of Korea

The South Korean calculator market rose markedly to $X in 2021, surging by 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Calculator consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Calculator Exports

Exports from Republic of Korea

In 2021, calculator exports from South Korea skyrocketed to X units, with an increase of 83% compared with 2020 figures. In general, exports saw prominent growth. The most prominent rate of growth was recorded in 2014 when exports increased by 209%. Over the period under review, the exports attained the peak figure at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, calculator exports skyrocketed to $X in 2021. Overall, exports showed a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 144%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for calculator exports from South Korea, with a 45% share of total exports. Moreover, calculator exports to the United States exceeded the volume sent to the second major destination, Egypt (X units), twofold. The third position in this ranking was taken by Saudi Arabia (X units), with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +59.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+96.9% per year) and Saudi Arabia (-3.2% per year).

In value terms, the United States ($X), Egypt ($X) and Saudi Arabia ($X) appeared to be the largest markets for calculator exported from South Korea worldwide, together accounting for 50% of total exports. These countries were followed by Japan, Vietnam, Malaysia, Taiwan (Chinese) and China, which together accounted for a further 11%.

Taiwan (Chinese), with a CAGR of +47.3%, saw the highest growth rate of the value of exports, in terms of 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 2021, the average calculator export price amounted to $X per unit, surging by 23% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 26% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Taiwan (Chinese) ($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 (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Calculator Imports

Imports into Republic of Korea

After two years of growth, overseas purchases of electronic calculators and pocket-size data recording, reproducing and displaying machines with calculating functions decreased by -0.9% to X units in 2021. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 62%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, calculator imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when imports increased by 35% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of calculator to South Korea, with a 75% share of total imports. Moreover, calculator imports from China exceeded the figures recorded by the second-largest supplier, the Philippines (X units), fivefold.

From 2012 to 2021, the average annual growth rate of volume from China stood at -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+310.9% per year) and Thailand (+262.3% per year).

In value terms, China ($X), the Philippines ($X) and Thailand ($X) were the largest calculator suppliers to South Korea, together comprising 98% of total imports.

Among the main suppliers, the Philippines, with a CAGR of +361.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average calculator import price amounted to $X per unit, rising by 21% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2013 when the average import price increased by 43%. As a result, import price reached the peak level of $X per unit. From 2014 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 Thailand ($X per unit), while the price for China ($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 Philippines (+12.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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