Republic of Korea: Market for Pen Or Pencil Sets 2024

Exports of Pen Or Pencil Sets

Exports from Republic of Korea

In 2022, overseas shipments of pen or pencil sets were finally on the rise to reach X units after four years of decline. In general, exports, however, showed a pronounced decrease. The growth pace was the most rapid in 2016 when exports increased by 269% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, pen or pencil sets exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2016 when exports increased by 282%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X units) was the main destination for pen or pencil sets exports from South Korea, with a 91% share of total exports. Moreover, pen or pencil sets exports to Japan exceeded the volume sent to the second major destination, Malaysia (X units), more than tenfold. The third position in this ranking was taken by the United States (X units), with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan totaled -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+24.0% per year) and the United States (-10.0% per year).

In value terms, Japan ($X) emerged as the key foreign market for pen or pencil sets exports from South Korea, comprising 89% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 3.4% share of total exports. It was followed by the United States, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value to Japan stood at -5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+3.1% per year) and the United States (-7.8% per year).

Export Prices by Country

The average pen or pencil sets export price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. In general, the export price saw a perceptible descent. The growth pace was the most rapid in 2014 when the average export price increased by 90%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+32.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pen Or Pencil Sets

Imports into Republic of Korea

In 2022, after two years of growth, there was significant decline in purchases abroad of pen or pencil sets, when their volume decreased by -12.9% to X units. Overall, imports continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 91% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, pen or pencil sets imports shrank rapidly to $X in 2022. In general, imports saw a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 53%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of pen or pencil sets to South Korea, accounting for a 81% share of total imports. Moreover, pen or pencil sets imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), tenfold. The third position in this ranking was taken by Germany (X units), with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-13.8% per year) and Germany (-10.7% per year).

In value terms, Japan ($X), China ($X) and Germany ($X) were the largest pen or pencil sets suppliers to South Korea, with a combined 93% share of total imports. These countries were followed by Malaysia, which accounted for a further 2.3%.

Among the main suppliers, Malaysia, with a CAGR of +51.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average pen or pencil sets import price stood at $X per unit in 2022, declining by -5.1% against the previous year. Over the period under review, the import price saw a abrupt descent. The most prominent rate of growth was recorded in 2017 when the average import price increased by 42% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :