Buses in South Korea 2021 Exports | Imports : $403M | $108M, World Rnk 10 / 149 Rnk 175 / 1206 | World Rnk 35 / 213 Rnk 490 / 1211
2020 - 2021 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $74.8M | $31.6M, Thailand | China
2021 ECONOMIC COMPLEXITY of South Korea: 1.82, Rnk 4 / 131
2021 PRODUCT COMPLEXITY IN Buses: 0.24, Rnk 470 / 1029
Exports In 2021, South Korea exported $403M in Buses, making it the 10th largest exporter of Buses in the world. At the same year, Buses was the 175th most exported product in South Korea. The main destination of Buses exports from South Korea are: Thailand ($109M), Malaysia ($35.2M), Russia ($25M), Peru ($24.6M), and Pakistan ($19.8M).
The fastest growing export markets for Buses of South Korea between 2020 and 2021 were Thailand ($74.8M), Peru ($16M), and Pakistan ($13.4M).
Imports In 2021, South Korea imported $108M in Buses, becoming the 35th largest importer of Buses in the world. At the same year, Buses was the 490th most imported product in South Korea. South Korea imports Buses primarily from: China ($80.7M), Germany ($8.75M), Chinese Taipei ($8.55M), United Arab Emirates ($3.48M), and France ($3.21M).
The fastest growing import markets in Buses for South Korea between 2020 and 2021 were China ($31.6M), Chinese Taipei ($8.55M), and Germany ($3.23M).
Tariffs In 2018, the average tariff for South Korea in Buses was 6.23%. The countries with the highest import tariffs for Buses were Botswana (Most Favoured Nation duty rate treatment, 10%), Cote d'Ivoire (Most Favoured Nation duty rate treatment, 10%), Cameroon (Most Favoured Nation duty rate treatment, 10%), Republic of the Congo (Most Favoured Nation duty rate treatment, 10%), and Cape Verde (Most Favoured Nation duty rate treatment, 10%).
March 2023
Overview In March 2023 South Korea's Buses exports accounted up to $48M and imports accounted up to $3.5M, resulting in a positive trade balance of $44.5M. Between March 2022 and March 2023 the exports of South Korea's Buses have decreased by $-3.01M (-5.9%) from $51M to $48M, while imports decreased by $-5.14M (-59.5%) from $8.64M to $3.5M.
Destinations In March 2023, Buses were exported mostly to Thailand ($14.7M), Russia ($4.21M), Vietnam ($2.98M), Chile ($2.5M), and Democratic Republic of the Congo ($2.16M), and were imported mostly from China ($3.06M), New Zealand ($214k), Germany ($197k), United States ($32k), and Angola ($0).
Growth In March 2023, the decrease in Buses's year-by-year exports was explained primarily by a decrease in exports to Chile ($-2.94M or -80.7%), Saudi Arabia ($-1.73M or -92.1%), and Pakistan ($-1.24M or -78.3%). In March 2023, the decrease in Buses's year-by-year imports was explained primarily by a decrease in imports from .
EXPORT GROWTH (March 2022 - March 2023): $-3.01M, (-5.9%)
IMPORT GROWTH (March 2022 - March 2023): $-5.14M, (-59.5%)
MAIN DESTINATION (March 2023): Thailand, $14.7M
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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EXPORTS (2021): $403M
IMPORTS (2021): $108M
NET TRADE (2021): $294M
In 2021, South Korea exported $403M in Buses. The main destinations of South Korea exports on Buses were Thailand ($109M), Malaysia ($35.2M), Russia ($25M), Peru ($24.6M), and Pakistan ($19.8M).
In 2021, South Korea imported $108M in Buses, mainly from China ($80.7M), Germany ($8.75M), Chinese Taipei ($8.55M), United Arab Emirates ($3.48M), and France ($3.21M).
THE FASTEST GROWING Buses EXPORT MARKETS FOR South Korea WERE (2020 - 2021):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Buses BY South Korea WERE (2020 - 2021):
In 2021, South Korea's main exporting competitors in Buses were:
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