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2022
Exports $9.71BWorld Rnk 2 / 209
Flag Rnk 11 / 1204
2022
Destination $1.01B United States
2021 - 2022
FASTEST GROWING MARKET $1.01BUnited States
2022
PRODUCT COMPLEXITY IN Electric Batteries1.02Rnk 164 / 1025
2022
Imports $6.08BWorld Rnk 3 / 225
Flag Rnk 12 / 1213
2022
Origin $2.31B China
2021 - 2022
FASTEST GROWING ORIGIN $2.31BChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $9.71B in Electric Batteries, making it the 2nd largest exporter of Electric Batteries in the world. At the same year, Electric Batteries was the 11th most exported product in South Korea. The main destination of Electric Batteries exports from South Korea are: United States ($3.54B), Germany ($1B), China ($598M), Vietnam ($456M), and Japan ($455M).

The fastest growing export markets for Electric Batteries of South Korea between 2021 and 2022 were United States ($1.01B), India ($187M), and Chinese Taipei ($149M).

Imports In 2022, South Korea imported $6.08B in Electric Batteries, becoming the 3rd largest importer of Electric Batteries in the world. At the same year, Electric Batteries was the 12th most imported product in South Korea. South Korea imports Electric Batteries primarily from: China ($5.52B), United States ($218M), Vietnam ($85.9M), Japan ($60.2M), and Germany ($54M).

The fastest growing import markets in Electric Batteries for South Korea between 2021 and 2022 were China ($2.31B), United States ($161M), and United Arab Emirates ($20.9M).

COMPANIES In 2023, leading companies such as General Motors (379), LG Electronics (99), and Kubota (45) were at the forefront of shipping Electric Batteries from South Korea to the United States.

Latest Trends

November 2024

About

Overview In November 2024 South Korea's Electric Batteries exports accounted up to $658M and imports accounted up to $530M, resulting in a positive trade balance of $128M. Between November 2023 and November 2024 the exports of South Korea's   Electric Batteries have decreased by $-237M (-26.5%) from $896M to $658M, while imports decreased by $-136M (-20.4%) from $666M to $530M.

Destinations In November 2024, Electric Batteries were exported mostly to United States ($364M), China ($58.9M), Japan ($36.6M), India ($21.4M), and Vietnam ($19.3M), and were imported mostly from China ($448M), Indonesia ($61.5M), Vietnam ($6.69M), Germany ($2.72M), and Japan ($2.64M).

Growth In November 2024, the decrease in Electric Batteries's year-by-year exports was explained primarily by a decrease in exports to China ($-23.3M or -38%), Germany ($-18.9M or -21.6%), and Vietnam ($-18.6M or -47.2%). In November 2024, the decrease in Electric Batteries's year-by-year imports was explained primarily by a decrease in imports from United States ($-3.87M or -31.4%), France ($-754k or -63.4%), and Thailand ($-708k or -67.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$-237M(-26.5%)
IMPORT GROWTH (November 2023 - November 2024)$-136M(-20.4%)
MAIN DESTINATION (November 2024)United States$364M

This section shows Electric Batteries'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 Electric Batteries over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$9.71B
IMPORTS (2022)$6.08B
NET TRADE (2022)$3.64B

In 2022, South Korea exported $9.71B in Electric Batteries. The main destinations of South Korea exports on Electric Batteries were United States ($3.54B), Germany ($1B), China ($598M), Vietnam ($456M), and Japan ($455M).

In 2022, South Korea imported $6.08B in Electric Batteries, mainly from China ($5.52B), United States ($218M), Vietnam ($85.9M), Japan ($60.2M), and Germany ($54M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electric Batteries EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$1.01B (39.8%)
India$187M (360%)
Chinese Taipei$149M (200%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Batteries BY South Korea WERE (2021 - 2022):
China-$244M (-29%)
Poland-$226M (-37.5%)
Hong Kong-$104M (-57.7%)
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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 Electric Batteries were:
China $58.7B
Poland $9.55B
In 2022, South Korea's main importing competitors in Electric Batteries were:
United States $23.2B
Germany $20.3B

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Trade Value of Electric Batteries by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $271M
TOP IMPORT POTENTIALJapan+ $63.8M

Electric Batteries’s highest export potential is China. With an export gap of $271M.   Electric Batteries’s highest import potential is Japan with an import gap of $63.8M.

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