Republic of Korea: Imitation Jewellery Market 2022

Imitation Jewellery Market Size in Republic of Korea

The South Korean imitation jewellery market amounted to $X in 2020, picking up by X% against the previous year. Overall, the total consumption indicated modest 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, consumption increased by +X% against 2010 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% year-to-year. Over the period under review, the market hit record highs in 2020 and is likely to see steady growth in years to come.

Imitation Jewellery Production in Republic of Korea

In value terms, imitation jewellery production expanded significantly to $X in 2020 estimated in export prices. Overall, the total production indicated noticeable growth from 2007 to 2020: its value decreased 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, production increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2010 when the production volume increased by X% year-to-year. Over the period under review, production attained the maximum level in 2020 and is likely to see steady growth in the near future.

Imitation Jewellery Exports

Exports from Republic of Korea

In 2020, the amount of imitation jewellery exported from South Korea shrank notably to X tons, with a decrease of -X% compared with the previous year. In general, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. As a result, exports reached the peak of X tons. from 2011 to 2020, the growth exports remained at a somewhat lower figure.

In value terms, imitation jewellery exports reduced sharply to $X in 2020. Overall, exports saw a noticeable setback. The growth pace was the most rapid in 2010 when exports increased by X% year-to-year. Exports peaked at $X in 2012; however, from 2013 to 2020, exports remained at a lower figure.

Exports by Country

Japan (X tons), the United States (X tons) and Italy (X tons) were the main destinations of imitation jewellery exports from South Korea, together accounting for X% of total exports. These countries were followed by Vietnam, China, Taiwan (Chinese), Indonesia, Thailand, Hong Kong SAR, the UK and Saudi Arabia, which together accounted for a further X 2007 to 2020, the biggest increases were in Indonesia, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for imitation jewellery exports from South Korea, comprising X% of total exports. The second position in the ranking was occupied by the United States ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-X% per year) and China (-X% per year).

Export Prices by Country

In 2020, the average imitation jewellery export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price showed a buoyant increase. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the peak figure in 2020 and is expected to retain growth in the near future.

Prices varied noticeably by the country of destination; the country with the highest price was the UK ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 China, while the prices for the other major destinations experienced more modest paces of growth.

Imitation Jewellery Imports

Imports into Republic of Korea

In 2020, purchases abroad of imitation jewellery decreased by -X% to X tons, falling for the second consecutive year after three years of growth. Overall, imports recorded a drastic downturn. The growth pace was the most rapid in 2013 when imports increased by X% y-o-y. Imports peaked at X tons in 2007; however, from 2008 to 2020, imports remained at a lower figure.

In value terms, imitation jewellery imports declined slightly to $X in 2020. Over the period under review, imports saw a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of X% y-o-y. Imports peaked at $X in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, China (X tons) was the main imitation jewellery supplier to South Korea, accounting for a X% share of total imports. It was followed by Italy (X tons), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of volume from China totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+X% per year) and Vietnam (+X% per year).

In value terms, the largest imitation jewellery suppliers to South Korea were China ($X), Italy ($X) and Vietnam ($X), together comprising X% of total imports.

In terms of the main suppliers, Vietnam saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average imitation jewellery import price stood at $X per ton in 2020, with an increase of X% against the previous year. Over the period under review, the import price recorded a strong expansion. The most prominent rate of growth was recorded in 2012 when the average import price increased by X% against the previous year. The import price peaked in 2020 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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