Republic of Korea: Telephone Market 2024

Telephone Market Size in Republic of Korea

In 2022, the South Korean telephone market decreased by -14.8% to $X, falling for the second consecutive year after two years of growth. In general, consumption saw a perceptible shrinkage. Telephone consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Telephone Production in Republic of Korea

In value terms, telephone production expanded markedly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild decline. The pace of growth was the most pronounced in 2019 when the production volume increased by 37% against the previous year. Telephone production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Telephone Exports

Exports from Republic of Korea

In 2022, telephone exports from South Korea soared to X units, growing by 1,870% against 2021. Over the period under review, 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, telephone exports surged to $X in 2022. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X units) was the main destination for telephone exports from South Korea, accounting for a 68% share of total exports. Moreover, telephone exports to Hong Kong SAR exceeded the volume sent to the second major destination, the United Arab Emirates (X units), fivefold. Portugal (X units) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR stood at +33.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+28.9% per year) and Portugal (+126.6% per year).

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for telephones and videophones exports from South Korea, comprising 69% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total exports. It was followed by Portugal, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR amounted to +35.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+35.8% per year) and Portugal (+134.9% per year).

Export Prices by Country

In 2022, the average telephone export price amounted to $X per unit, jumping by 106% against the previous year. Overall, the export price posted mild growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per unit), while the average price for exports to Indonesia ($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 the United Arab Emirates (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Telephone Imports

Imports into Republic of Korea

In 2022, approx. X units of telephones and videophones were imported into South Korea; falling by -14.9% on the previous year's figure. Overall, imports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when imports increased by 7.4% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, telephone imports reduced to $X in 2022. In general, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2019 when imports increased by 2.5%. 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 telephone to South Korea, with a 62% share of total imports. Moreover, telephone imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), fourfold. Indonesia (X units) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-4.9% per year) and Indonesia (-10.1% per year).

In value terms, China ($X) constituted the largest supplier of telephones and videophones to South Korea, comprising 54% of total imports. The second position in the ranking was held by Thailand ($X), with a 21% share of total imports. It was followed by Indonesia, with a 21% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-3.1% per year) and Indonesia (-10.3% per year).

Import Prices by Country

The average telephone import price stood at $X per unit in 2022, increasing by 4.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2019 an increase of 13%. The import price peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($X per unit) and Thailand ($X per unit), while the price for China ($X per unit) and Vietnam ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :