Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof in South Korea

EXPORTS (2018): $61.4B, World Rnk 6 / 222
Flag Rnk 3 / 96

TOP DESTINATION (2018): $19.3B, United States

FASTEST GROWING MARKET (2017 - 2018): $1.04B, Russia

IMPORTS (2018): $16.8B, World Rnk 19 / 221
Flag Rnk 5 / 96

TOP ORIGIN (2018): $6.38B, Germany

FASTEST GROWING ORIGIN (2017 - 2018): $853M, Germany

ECONOMIC COMPLEXITY of South Korea (2018): 1.85, Rnk 5 / 137

PRODUCT COMPLEXITY  IN Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof (2018): 1.32, Rnk 10 / 96

Overview: This page contains the latest trade data of Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof in South Korea.

Exports: In 2018, South Korea exported $61.4B in Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof, making it the 6th largest exporter of Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof in the world. At the same year, Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof was the 3rd most exported product in South Korea. The main destination of Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof exports from South Korea are: United States ($19.3B), Russia ($3.07B), Canada ($2.54B), Australia ($2.32B), and China ($2.3B).

The fastest growing export markets for Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof of South Korea between 2017 and 2018 were Russia ($1.04B), Uzbekistan ($420M), and Germany ($366M).

Imports: In 2018, South Korea imported $16.8B in Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof, becoming the 19th largest importer of Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof in the world. At the same year, Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof was the 5th most imported product in South Korea. South Korea imports Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof primarily from: Germany ($6.38B), United States ($2.22B), Japan ($1.65B), China ($1.63B), and United Kingdom ($1.29B).

The fastest growing import markets in Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof for South Korea between 2017 and 2018 were Germany ($853M), United Kingdom ($275M), and United States ($155M).

Tariffs: In 2018, the average tariff for South Korea in Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof was 4.99%. The countries with the highest import tariffs for Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof were Botswana (7.97%), Cote d'Ivoire (7.97%), Cameroon (7.97%), Republic of the Congo (7.97%), and Cape Verde (7.97%).

Overview: In September 2020 South Korea's Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof exports accounted up to $5.53B and imports accounted up to $1.65B, resulting in a positive trade balance of $3.88B. Between September 2019 and September 2020 the exports of South Korea's   Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof have increased by $869M (18.6%) from $4.66B to $5.53B, while imports increased by $422M (34.4%) from $1.23B to $1.65B.

Destinations: In September 2020 Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof exported mostly to United States ($2.2B), Canada ($302M), Russia ($257M), Australia ($207M), and Germany ($195M), and imported mostly from Germany ($544M), United States ($326M), China ($192M), Japan ($173M), and Mexico ($97.9M).

Growth: In September 2020, the increase in Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof's year-by-year exports was explained primarily by an increase in exports to United States ($698M or 46.5%), Canada ($148M or 96%), and Czechia ($55.5M or 94.2%). In September 2020, the increase in Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof's year-by-year imports was explained primarily by an increase in imports from United States ($156M or 91.5%), Germany ($103M or 23.3%), and Mexico ($72.2M or 281%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (September 2019 - September 2020): $869M, (18.6%)

IMPORT GROWTH (September 2019 - September 2020): $422M, (34.4%)

MAIN DESTINATION (September 2020): United States, $2.2B

This section shows Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof'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 Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof over time.

Value

EXPORTS (2018): $61.4B

IMPORTS (2018): $16.8B

NET TRADE (2018): $44.6B

In 2018, South Korea exported $61.4B in Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof. The main destinations of South Korea exports on Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof were United States ($19.3B), Russia ($3.07B), Canada ($2.54B), Australia ($2.32B), and China ($2.3B).

In 2018, South Korea imported $16.8B in Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof, mainly from Germany ($6.38B), United States ($2.22B), Japan ($1.65B), China ($1.63B), and United Kingdom ($1.29B).

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IN 2018, South Korea HAD A POSITIVE NET TRADE IN Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof WITH:

  • United States, $17.1B ($19.3B - $2.22B)
  • Russia, $3.06B ($3.07B - $11.5M)
  • Canada, $2.52B ($2.54B - $23.6M)

IN 2018, South Korea HAD A NEGATIVE NET TRADE IN Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof WITH:

  • Germany, -$4.43B ($1.95B - $6.38B)
  • Japan, -$860M ($788M - $1.65B)
  • Austria, -$459M ($179M - $638M)
Flow

THE FASTEST GROWING Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof EXPORT MARKETS FOR South Korea WERE (2017 - 2018):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof BY South Korea WERE (2017 - 2018):

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Market Concentration

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Type

In 2018, South Korea's main exporting competitors in Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof were:

In 2018, South Korea's main importing competitors in Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof were:

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Trade Forecasts

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Time

This section shows forecasts for total exports and imports, for Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof in South Korea. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

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