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2023
Exports $2.88BWorld Rnk 10 / 224
Flag Rnk 35 / 1188
2023
Destination $90.2M United States
2022 - 2023
FASTEST GROWING MARKET $90.2MUnited States
2023
PRODUCT COMPLEXITY IN Centrifuges1.22Rnk 101 / 1025
2023
Imports $1.64BWorld Rnk 15 / 225
Flag Rnk 52 / 1208
2023
Origin $50M United States
2022 - 2023
FASTEST GROWING ORIGIN $50MSingapore
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $2.88B in Centrifuges, making it the 10th largest exporter of Centrifuges in the world. At the same year, Centrifuges was the 35th most exported product in South Korea. The main destination of Centrifuges exports from South Korea are: United States ($618M), China ($475M), Malaysia ($279M), Japan ($128M), and India ($121M).

The fastest growing export markets for Centrifuges of South Korea between 2022 and 2023 were United States ($90.2M), India ($42M), and China ($36.2M).

Imports In 2023, South Korea imported $1.64B in Centrifuges, becoming the 15th largest importer of Centrifuges in the world. At the same year, Centrifuges was the 52nd most imported product in South Korea. South Korea imports Centrifuges primarily from: United States ($373M), China ($369M), Germany ($264M), Japan ($179M), and Singapore ($74.7M).

The fastest growing import markets in Centrifuges for South Korea between 2022 and 2023 were Singapore ($50M), Italy ($26.9M), and Belgium ($22.8M).

COMPANIES In 2024, leading companies such as LG Electronics (39), Haas Automation (11), and Goya Foods (8) were at the forefront of shipping Centrifuges from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Centrifuges exports accounted up to $228M and imports accounted up to $172M, resulting in a positive trade balance of $56M. Between December 2023 and December 2024 the exports of South Korea's   Centrifuges have increased by $22.1M (10.7%) from $206M to $228M, while imports increased by $20.2M (13.3%) from $152M to $172M.

Destinations In December 2024, Centrifuges were exported mostly to United States ($47.6M), China ($40M), Malaysia ($33.9M), Japan ($14.9M), and Chinese Taipei ($10.3M), and were imported mostly from China ($57.6M), United States ($31.3M), Germany ($22M), Japan ($20.1M), and Hungary ($6.65M).

Growth In December 2024, the increase in Centrifuges's year-by-year exports was explained primarily by an increase in exports to United States ($18.7M or 81.5%), Saudi Arabia ($18M or 1.69k%), and China ($9.06M or 42.8%). In December 2024, the increase in Centrifuges's year-by-year imports was explained primarily by an increase in imports from Germany ($11.4M or 77.6%), Slovakia ($7.72M or 2.59k%), and United States ($4.71M or 18.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$22.1M(10.7%)
IMPORT GROWTH (December 2023 - December 2024)$20.2M(13.3%)
MAIN DESTINATION (December 2024)United States$47.6M

This section shows Centrifuges'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 Centrifuges over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$2.88B
IMPORTS (2023)$1.64B
NET TRADE (2023)$1.24B

In 2023, South Korea exported $2.88B in Centrifuges. The main destinations of South Korea exports on Centrifuges were United States ($618M), China ($475M), Malaysia ($279M), Japan ($128M), and India ($121M).

In 2023, South Korea imported $1.64B in Centrifuges, mainly from United States ($373M), China ($369M), Germany ($264M), Japan ($179M), and Singapore ($74.7M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Centrifuges EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
United States$90.2M (17.1%)
India$42M (53.2%)
China$36.2M (8.26%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Centrifuges BY South Korea WERE (2022 - 2023):
Malaysia-$103M (-27%)
Vietnam-$90.2M (-100%)
Australia-$42.3M (-53.5%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Centrifuges were:
Germany $14.1B
United States $12.4B
China $11.8B
In 2023, South Korea's main importing competitors in Centrifuges were:
United States $14.1B
Germany $7.79B
China $5.08B

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Trade Value of Centrifuges by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $145M
TOP IMPORT POTENTIALChina+ $157M

Centrifuges’s highest export potential is China. With an export gap of $145M.   Centrifuges’s highest import potential is China with an import gap of $157M.

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