South Korea's imports of golf products drop 10.6%

GMT 16:46 2015 Saturday ,11 July

Arab Today, arab today South Korea's imports of golf products drop 10.6%

South Korea's imports of golf products
Sejong - Yonhap

South Korea's imports of golf products dropped 10.6 percent on-year in the first half of 2015, mainly due to lower prices and increased demand for more affordable clubs, a government report showed Friday.

Inbound shipments of golf clubs, gloves and balls reached US$160 million in the January-June period, down from $179 million a year earlier, the Korea Customs Service (KCS) said. The three products make up the bulk of all golf-related products imported.

Imports of golf clubs plunged 12.2 percent on-year to $125 million, with those of gloves and balls backtracking 6.2 percent and 3.8 percent, respectively. Imports of gloves reached $6.8 million, with balls standing at $29 million.

Japan is the No. 1 producer of golf clubs brought into the country, while Indonesia is the top supplier of gloves and Thailand is the leader for balls.

"Imports declined as greater competition between manufacturers pushed down prices of clubs, with growing demand for more mid- to lower-range products also affecting numbers," the customs office said.

The latest drop comes after local demand for golf products has fallen an average of 3.6 percent over the last five years, the KCS said.

In 2010, the country imported $328 million worth of golf products, but the figure dropped to $304 million last year.

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