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2022
Exports $771MWorld Rnk 16 / 215
Flag Rnk 125 / 1204
2022
Destination $26.4M United States
2021 - 2022
FASTEST GROWING MARKET $26.4MUnited States
2022
PRODUCT COMPLEXITY IN Electric Heaters0.46Rnk 379 / 1025
2022
Imports $1.41BWorld Rnk 12 / 224
Flag Rnk 75 / 1213
2022
Origin $34.6M China
2021 - 2022
FASTEST GROWING ORIGIN $34.6MPhilippines
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $771M in Electric Heaters, making it the 16th largest exporter of Electric Heaters in the world. At the same year, Electric Heaters was the 125th most exported product in South Korea. The main destination of Electric Heaters exports from South Korea are: United States ($279M), China ($105M), Japan ($78.8M), Vietnam ($54.8M), and Canada ($51.5M).

The fastest growing export markets for Electric Heaters of South Korea between 2021 and 2022 were United States ($26.4M), Vietnam ($13.1M), and Australia ($5.44M).

Imports In 2022, South Korea imported $1.41B in Electric Heaters, becoming the 12th largest importer of Electric Heaters in the world. At the same year, Electric Heaters was the 75th most imported product in South Korea. South Korea imports Electric Heaters primarily from: China ($851M), Malaysia ($142M), Vietnam ($83.9M), Japan ($77.1M), and Philippines ($52.6M).

The fastest growing import markets in Electric Heaters for South Korea between 2021 and 2022 were Philippines ($34.6M), Vietnam ($16.6M), and Ukraine ($8.21M).

COMPANIES In 2023, leading companies such as LG Electronics (142), Electrolux (11), and Samsung (4) were at the forefront of shipping Electric Heaters from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Electric Heaters exports accounted up to $61.1M and imports accounted up to $111M, resulting in a negative trade balance of $49.7M. Between September 2023 and September 2024 the exports of South Korea's   Electric Heaters have increased by $8.81M (16.9%) from $52.3M to $61.1M, while imports decreased by $-5.87M (-5.03%) from $117M to $111M.

Destinations In September 2024, Electric Heaters were exported mostly to United States ($24.1M), Japan ($9.15M), China ($7.55M), Canada ($4.84M), and Vietnam ($4.12M), and were imported mostly from China ($69.8M), Malaysia ($9.19M), Vietnam ($6.79M), Japan ($4.57M), and Philippines ($3.61M).

Growth In September 2024, the increase in Electric Heaters's year-by-year exports was explained primarily by an increase in exports to Italy ($972k or 596%), India ($315k or 73.4%), and Chile ($292k or 942%). In September 2024, the decrease in Electric Heaters's year-by-year imports was explained primarily by a decrease in imports from China ($-27.8M or -27.9%), Romania ($-2.23M or -77.8%), and Germany ($-2.14M or -58.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$8.81M(16.9%)
IMPORT GROWTH (September 2023 - September 2024)$-5.87M(-5.03%)
MAIN DESTINATION (September 2024)United States$24.1M

This section shows Electric Heaters'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 Heaters over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$771M
IMPORTS (2022)$1.41B
NET TRADE (2022)-$639M

In 2022, South Korea exported $771M in Electric Heaters. The main destinations of South Korea exports on Electric Heaters were United States ($279M), China ($105M), Japan ($78.8M), Vietnam ($54.8M), and Canada ($51.5M).

In 2022, South Korea imported $1.41B in Electric Heaters, mainly from China ($851M), Malaysia ($142M), Vietnam ($83.9M), Japan ($77.1M), and Philippines ($52.6M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electric Heaters EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$26.4M (10.4%)
Vietnam$13.1M (31.3%)
Australia$5.44M (58.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Heaters BY South Korea WERE (2021 - 2022):
Japan-$7.29M (-8.48%)
Italy-$4.5M (-40.9%)
Malaysia-$3.3M (-27.2%)
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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 Heaters were:
China $31.5B
Germany $5.3B
Italy $2.96B
In 2022, South Korea's main importing competitors in Electric Heaters were:
United States $12.8B
Germany $6.24B
France $3.15B

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Trade Value of Electric Heaters by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $43.7M
TOP IMPORT POTENTIALChina+ $231M

Electric Heaters’s highest export potential is United States. With an export gap of $43.7M.   Electric Heaters’s highest import potential is China with an import gap of $231M.

See methodology.

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