Electrical Parts in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $193M in Electrical Parts, making it the 6th largest exporter of Electrical Parts in the world. At the same year, Electrical Parts was the 283rd most exported product in South Korea. The main destination of Electrical Parts exports from South Korea are: China ($114M), Vietnam ($35.1M), Hong Kong ($13.7M), United States ($5.21M), and Thailand ($4.34M).

The fastest growing export markets for Electrical Parts of South Korea between 2021 and 2022 were Mexico ($2.95M), Thailand ($1.22M), and Hungary ($1.15M).

Imports In 2022, South Korea imported $152M in Electrical Parts, becoming the 8th largest importer of Electrical Parts in the world. At the same year, Electrical Parts was the 423rd most imported product in South Korea. South Korea imports Electrical Parts primarily from: China ($62.4M), Japan ($51.2M), Vietnam ($10.5M), United States ($5.75M), and Canada ($5.2M).

The fastest growing import markets in Electrical Parts for South Korea between 2021 and 2022 were Canada ($5.19M), Guatemala ($2.99M), and United States ($2.81M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (890) and CJ FOODS USA INC. (16) were at the forefront of shipping Electrical Parts from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Electrical Parts exports accounted up to $3.96M and imports accounted up to $4.61M, resulting in a negative trade balance of $647k. Between February 2023 and February 2024 the exports of South Korea's Electrical Parts have decreased by $-2.5M (-38.7%) from $6.46M to $3.96M, while imports decreased by $-2.01M (-30.4%) from $6.62M to $4.61M.

Destinations In February 2024, Electrical Parts were exported mostly to Vietnam ($2.13M), China ($836k), Thailand ($345k), Hong Kong ($107k), and Brazil ($90k), and were imported mostly from Japan ($2.03M), China ($1.22M), Vietnam ($475k), United States ($181k), and Thailand ($134k).

Growth In February 2024, the decrease in Electrical Parts's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-2.74M or -63%), Hong Kong ($-1.48M or -84.2%), and China ($-759k or -29.3%). In February 2024, the decrease in Electrical Parts's year-by-year imports was explained primarily by a decrease in imports from China ($-1.58M or -52.9%), Japan ($-1.56M or -37.7%), and Vietnam ($-866k or -72%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-2.5M(-38.7%)

IMPORT GROWTH (February 2023 - February 2024)$-2.01M(-30.4%)

MAIN DESTINATION (February 2024)Vietnam$2.13M

This section shows Electrical Parts's exports and imports data at subnational level for South Korea. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Electrical Parts over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$193M

IMPORTS (2022)$152M

NET TRADE (2022)$41.1M

In 2022, South Korea exported $193M in Electrical Parts. The main destinations of South Korea exports on Electrical Parts were China ($114M), Vietnam ($35.1M), Hong Kong ($13.7M), United States ($5.21M), and Thailand ($4.34M).

In 2022, South Korea imported $152M in Electrical Parts, mainly from China ($62.4M), Japan ($51.2M), Vietnam ($10.5M), United States ($5.75M), and Canada ($5.2M).

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