Price for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in South Korea - 2022

Contents:

1. Price for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in South Korea (CIF) - 2022
2. Price for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in South Korea (FOB) - 2022
3. Imports of Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in South Korea
4. Exports of Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in South Korea

Price for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in South Korea (CIF) - 2022

The average import price for pharmaceutical goods; appliances identifiable for ostomy uses stood at $51,757 per ton in December 2022, with an increase of 30% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Hungary ($85,071 per ton), while the price for Costa Rica ($34,389 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Hungary (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in South Korea (FOB) - 2022

The average export price for pharmaceutical goods; appliances identifiable for ostomy uses stood at $48,582 per ton in 2022, with an increase of 35% against the previous year. Overall, the export price posted a tangible expansion. The growth pace was the most rapid in 2016 when the average export price increased by 68%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($53,599 per ton), while the average price for exports to Japan stood at $33,315 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.7%).

Imports of Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in South Korea

For the fourth year in a row, South Korea recorded growth in supplies from abroad of pharmaceutical goods; appliances identifiable for ostomy uses, which increased by 7.3% to 216 tons in 2022. Over the period under review, imports showed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, imports of pharmaceutical goods; appliances identifiable for ostomy uses reduced slightly to $9.4M in 2022. In general, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 47% against the previous year. As a result, imports reached the peak of $9.7M, and then fell modestly in the following year.

Top Suppliers of Pharmaceutical Goods; Appliances Identifiable for Ostomy Use to South Korea in 2022:

1. Dominican Republic (77.9 tons)
2. Costa Rica (53.6 tons)
3. United States (48.1 tons)
4. Hungary (33.0 tons)

Exports of Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in South Korea

In 2022, shipments abroad of pharmaceutical goods; appliances identifiable for ostomy uses decreased by -50.3% to 1.4 tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 1.7%. As a result, the exports reached the peak of 3 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of pharmaceutical goods; appliances identifiable for ostomy uses contracted dramatically to $69K in 2022. Over the period under review, exports saw a pronounced contraction. The growth pace was the most rapid in 2021 when exports increased by 30%. As a result, the exports attained the peak of $103K, and then declined markedly in the following year.

Top Export Markets for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use from South Korea in 2022:

1. Canada (1048.0 kg)
2. Japan (362.0 kg)

Source: IndexBox Market Intelligence Platform