Republic of Korea: Market for Snow-Skis And Other Snow-Ski Equipment, Ice-Skates And Roller-Skates 2024

Market Size for Snow-Skis And Other Snow-Ski Equipment, Ice-Skates And Roller-Skates in Republic of Korea

In 2021, the South Korean market for snow-skis and other snow-ski equipment, ice-skates and roller-skates was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Exports of Snow-Skis And Other Snow-Ski Equipment, Ice-Skates And Roller-Skates

Exports from Republic of Korea

In 2021, shipments abroad of snow-skis and other snow-ski equipment, ice-skates and roller-skates increased by 154% to X tons, rising for the third consecutive year after four years of decline. Over the period under review, exports, however, saw a perceptible decline. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of snow-skis and other snow-ski equipment, ice-skates and roller-skates surged to $X in 2021. In general, exports, however, continue to indicate a slight curtailment. Over the period under review, the exports of hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for exports of snow-skis and other snow-ski equipment, ice-skates and roller-skates from South Korea, accounting for a 57% share of total exports. Moreover, exports of snow-skis and other snow-ski equipment, ice-skates and roller-skates to the United States exceeded the volume sent to the second major destination, China (X tons), sevenfold. The third position in this ranking was taken by Colombia (X tons), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-3.4% per year) and Colombia (+77.9% per year).

In value terms, the United States ($X) remains the key foreign market for snow-skis and other snow-ski equipment, ice-skates and roller-skates exports from South Korea, comprising 61% of total exports. The second position in the ranking was held by China ($X), with an 8.4% share of total exports. It was followed by Russia, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+3.0% per year) and Russia (+6.0% per year).

Export Prices by Country

In 2021, the average export price for snow-skis and other snow-ski equipment, ice-skates and roller-skates amounted to $X per ton, with an increase of 4.6% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 25% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Snow-Skis And Other Snow-Ski Equipment, Ice-Skates And Roller-Skates

Imports into Republic of Korea

After three years of decline, supplies from abroad of snow-skis and other snow-ski equipment, ice-skates and roller-skates increased by 11% to X tons in 2021. Overall, imports, however, saw a slight decline. The pace of growth appeared the most rapid in 2014 when imports increased by 65%. Over the period under review, imports of hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, imports of snow-skis and other snow-ski equipment, ice-skates and roller-skates rose significantly to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 45% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of skis and its equipment and skates to South Korea, with a 73% share of total imports. Moreover, imports of snow-skis and other snow-ski equipment, ice-skates and roller-skates from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold. Austria (X tons) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+18.8% per year) and Austria (-14.0% per year).

In value terms, China ($X) constituted the largest supplier of snow-skis and other snow-ski equipment, ice-skates and roller-skates to South Korea, comprising 45% of total imports. The second position in the ranking was held by Austria ($X), with a 5.4% share of total imports. It was followed by Vietnam, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-13.4% per year) and Vietnam (+25.8% per year).

Import Prices by Country

In 2021, the average import price for snow-skis and other snow-ski equipment, ice-skates and roller-skates amounted to $X per ton, with a decrease of -1.7% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 15% against the previous year. The import price peaked at $X per ton in 2020, and then reduced slightly in the following year.

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 Austria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :