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2022
Exports $487MWorld Rnk 10 / 152
Flag Rnk 165 / 1204
2022
Destination $26.1M Thailand
2021 - 2022
FASTEST GROWING MARKET $26.1MThailand
2022
PRODUCT COMPLEXITY IN Buses0.074Rnk 528 / 1025
2022
Imports $156MWorld Rnk 30 / 217
Flag Rnk 418 / 1213
2022
Origin $59.1M China
2021 - 2022
FASTEST GROWING ORIGIN $59.1MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $487M in Buses, making it the 10th largest exporter of Buses in the world. At the same year, Buses was the 165th most exported product in South Korea. The main destination of Buses exports from South Korea are: Thailand ($135M), Malaysia ($46.4M), Russia ($33.4M), Peru ($27.5M), and Vietnam ($22M).

The fastest growing export markets for Buses of South Korea between 2021 and 2022 were Thailand ($26.1M), Vietnam ($20.3M), and Philippines ($12.4M).

Imports In 2022, South Korea imported $156M in Buses, becoming the 30th largest importer of Buses in the world. At the same year, Buses was the 418th most imported product in South Korea. South Korea imports Buses primarily from: China ($140M), Germany ($7.67M), Vietnam ($3.48M), United States ($1.77M), and Slovenia ($840k).

The fastest growing import markets in Buses for South Korea between 2021 and 2022 were China ($59.1M), Vietnam ($2.43M), and United Kingdom ($746k).

COMPANIES In 2023, leading companies such as Tesla (6) and General Motors (1) were at the forefront of shipping Buses from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Buses exports accounted up to $34.5M and imports accounted up to $9.75M, resulting in a positive trade balance of $24.7M. Between October 2023 and October 2024 the exports of South Korea's   Buses have increased by $6.32M (22.4%) from $28.2M to $34.5M, while imports decreased by $-20.8M (-68.1%) from $30.5M to $9.75M.

Destinations In October 2024, Buses were exported mostly to Vietnam ($3.47M), Chile ($3.33M), Colombia ($2.8M), Cambodia ($2.36M), and Saudi Arabia ($2.23M), and were imported mostly from China ($9.74M), United States ($4k), Cote d'Ivoire ($0), Democratic Republic of the Congo ($0), and Republic of the Congo ($0).

Growth In October 2024, the increase in Buses's year-by-year exports was explained primarily by an increase in exports to Cambodia ($5.74M or 949%), Russia ($1.02M or 41.4%), and Iraq ($901k or 1.96k%). In October 2024, the decrease in Buses's year-by-year imports was explained primarily by a decrease in imports from China ($-2.85M or -14.3%), Germany ($-1.05M or -82.3%), and United States ($-269k or -91.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$6.32M(22.4%)
IMPORT GROWTH (October 2023 - October 2024)$-20.8M(-68.1%)
MAIN DESTINATION (October 2024)Vietnam$3.47M

This section shows Buses'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 Buses over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$487M
IMPORTS (2022)$156M
NET TRADE (2022)$331M

In 2022, South Korea exported $487M in Buses. The main destinations of South Korea exports on Buses were Thailand ($135M), Malaysia ($46.4M), Russia ($33.4M), Peru ($27.5M), and Vietnam ($22M).

In 2022, South Korea imported $156M in Buses, mainly from China ($140M), Germany ($7.67M), Vietnam ($3.48M), United States ($1.77M), and Slovenia ($840k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Buses EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Thailand$26.1M (23.9%)
Vietnam$20.3M (1.22k%)
Philippines$12.4M (457%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Buses BY South Korea WERE (2021 - 2022):
Pakistan-$16.6M (-83.6%)
Ghana-$6.05M (-69.6%)
Chile-$4.77M (-26.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Buses were:
China $2.64B
Japan $1.95B
Turkey $1.52B
In 2022, South Korea's main importing competitors in Buses were:
Germany $1.12B
France $871M
United States $714M

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Trade Value of Buses by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALPhilippines+ $3.61M
TOP IMPORT POTENTIALChina+ $3.39M

Buses’s highest export potential is Philippines. With an export gap of $3.61M.   Buses’s highest import potential is China with an import gap of $3.39M.

See methodology.

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