Cars, tractors, trucks & parts thereof. in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $76.7B in Cars, tractors, trucks & parts thereof., making it the 6th largest exporter of Cars, tractors, trucks & parts thereof. in the world. At the same year, Cars, tractors, trucks & parts thereof. was the 3rd most exported product in South Korea. The main destination of Cars, tractors, trucks & parts thereof. exports from South Korea are: United States ($30.4B), Canada ($3.63B), Australia ($3.41B), United Kingdom ($2.45B), and Germany ($2.2B).

The fastest growing export markets for Cars, tractors, trucks & parts thereof. of South Korea between 2021 and 2022 were United States ($6.21B), Kazakhstan ($1.2B), and Australia ($844M).

Imports In 2022, South Korea imported $22.2B in Cars, tractors, trucks & parts thereof., becoming the 15th largest importer of Cars, tractors, trucks & parts thereof. in the world. At the same year, Cars, tractors, trucks & parts thereof. was the 4th most imported product in South Korea. South Korea imports Cars, tractors, trucks & parts thereof. primarily from: Germany ($8.2B), United States ($4.25B), China ($3.25B), Japan ($904M), and Mexico ($771M).

The fastest growing import markets in Cars, tractors, trucks & parts thereof. for South Korea between 2021 and 2022 were Germany ($1.23B), China ($555M), and United States ($510M).

COMPANIES In 2023, leading companies such as Samsung (1.63k), LG Electronics (508), and General Motors (491) were at the forefront of shipping Cars, tractors, trucks & parts thereof. from South Korea to the United States.

Latest Trends

October 2024

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Overview In October 2024 South Korea's Cars, tractors, trucks & parts thereof. exports accounted up to $7.84B and imports accounted up to $1.77B, resulting in a positive trade balance of $6.06B. Between October 2023 and October 2024 the exports of South Korea's Cars, tractors, trucks & parts thereof. have increased by $391M (5.24%) from $7.45B to $7.84B, while imports increased by $88.7M (5.27%) from $1.68B to $1.77B.

Destinations In October 2024, Cars, tractors, trucks & parts thereof. were exported mostly to United States ($3.6B), Canada ($481M), United Kingdom ($254M), Australia ($228M), and Mexico ($218M), and were imported mostly from Germany ($648M), China ($398M), United States ($165M), Japan ($108M), and Italy ($58.5M).

Growth In October 2024, the increase in Cars, tractors, trucks & parts thereof.'s year-by-year exports was explained primarily by an increase in exports to United States ($334M or 14.6%), Australia ($109M or 47.6%), and Canada ($91.6M or 32.4%). In October 2024, the increase in Cars, tractors, trucks & parts thereof.'s year-by-year imports was explained primarily by an increase in imports from Germany ($169M or 34.6%), United States ($150M or 109%), and United Kingdom ($80.5M or 183%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (October 2023 - October 2024)$391M(5.24%)

IMPORT GROWTH (October 2023 - October 2024)$88.7M(5.27%)

MAIN DESTINATION (October 2024)United States$3.6B

This section shows Cars, tractors, trucks & parts 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 Cars, tractors, trucks & parts thereof. over time.

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