Cars in South Korea | The Observatory of Economic Complexity

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Exports In 2023, South Korea exported $64.8B in Cars, making it the 5th largest exporter of Cars in the world. At the same year, Cars was the 2nd most exported product in South Korea. The main destination of Cars exports from South Korea are: United States ($31.3B), Canada ($4.5B), Australia ($3.32B), Germany ($2.96B), and United Kingdom ($2.55B).

The fastest growing export markets for Cars of South Korea between 2022 and 2023 were United States ($9B), Germany ($1.3B), and Canada ($1.25B).

Imports In 2023, South Korea imported $13.2B in Cars, becoming the 19th largest importer of Cars in the world. At the same year, Cars was the 5th most imported product in South Korea. South Korea imports Cars primarily from: Germany ($6.3B), United States ($2.67B), China ($885M), United Kingdom ($739M), and Japan ($658M).

The fastest growing import markets in Cars for South Korea between 2022 and 2023 were China ($555M), Japan ($224M), and United Kingdom ($144M).

COMPANIES In 2024, leading companies such as Samsung (2.21k), LG Electronics (77), and Hyosung (38) were at the forefront of shipping Cars from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Cars exports accounted up to $5.84B and imports accounted up to $1.01B, resulting in a positive trade balance of $4.82B. Between December 2023 and December 2024 the exports of South Korea's Cars have decreased by $-365M (-5.88%) from $6.2B to $5.84B, while imports decreased by $-157M (-13.4%) from $1.17B to $1.01B.

Destinations In December 2024, Cars were exported mostly to United States ($2.71B), Canada ($444M), Australia ($285M), United Kingdom ($200M), and Kazakhstan ($180M), and were imported mostly from Germany ($472M), United States ($164M), China ($78.1M), Japan ($67.6M), and Austria ($60.7M).

Growth In December 2024, the decrease in Cars's year-by-year exports was explained primarily by a decrease in exports to Israel ($-134M or -78.7%), France ($-70.6M or -49.6%), and Australia ($-55.2M or -17.7%). In December 2024, the decrease in Cars's year-by-year imports was explained primarily by a decrease in imports from Germany ($-328M or -56.8%), United Kingdom ($-87.3M or -72.8%), and Austria ($-64.5M or -91.8%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2023 - December 2024)$-365M(-5.88%)

IMPORT GROWTH (December 2023 - December 2024)$-157M(-13.4%)

MAIN DESTINATION (December 2024)United States$2.71B

This section shows Cars'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 over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2023)$64.8B

IMPORTS (2023)$13.2B

NET TRADE (2023)$51.6B

In 2023, South Korea exported $64.8B in Cars. The main destinations of South Korea exports on Cars were United States ($31.3B), Canada ($4.5B), Australia ($3.32B), Germany ($2.96B), and United Kingdom ($2.55B).

In 2023, South Korea imported $13.2B in Cars, mainly from Germany ($6.3B), United States ($2.67B), China ($885M), United Kingdom ($739M), and Japan ($658M).

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