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2022
Exports $524MWorld Rnk 7 / 201
Flag Rnk 157 / 1204
2022
Destination $38.5M China
2021 - 2022
FASTEST GROWING MARKET $38.5MUnited States
2022
PRODUCT COMPLEXITY IN Electric Soldering Equipment1.96Rnk 7 / 1025
2022
Imports $214MWorld Rnk 18 / 220
Flag Rnk 340 / 1213
2022
Origin $11.7M China
2021 - 2022
FASTEST GROWING ORIGIN $11.7MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $524M in Electric Soldering Equipment, making it the 7th largest exporter of Electric Soldering Equipment in the world. At the same year, Electric Soldering Equipment was the 157th most exported product in South Korea. The main destination of Electric Soldering Equipment exports from South Korea are: China ($129M), United States ($87.2M), Hungary ($58M), Vietnam ($57.3M), and India ($31.6M).

The fastest growing export markets for Electric Soldering Equipment of South Korea between 2021 and 2022 were United States ($38.5M), India ($12.5M), and Colombia ($9.57M).

Imports In 2022, South Korea imported $214M in Electric Soldering Equipment, becoming the 18th largest importer of Electric Soldering Equipment in the world. At the same year, Electric Soldering Equipment was the 340th most imported product in South Korea. South Korea imports Electric Soldering Equipment primarily from: China ($78.3M), Germany ($36.9M), United States ($26.7M), Japan ($23.6M), and Austria ($10.3M).

The fastest growing import markets in Electric Soldering Equipment for South Korea between 2021 and 2022 were China ($11.7M), United States ($7.42M), and Austria ($2.64M).

COMPANIES In 2023, leading companies such as Hyosung (77), General Motors (21), and LG Electronics (9) were at the forefront of shipping Electric Soldering Equipment from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Electric Soldering Equipment exports accounted up to $36.6M and imports accounted up to $16.7M, resulting in a positive trade balance of $19.9M. Between October 2023 and October 2024 the exports of South Korea's   Electric Soldering Equipment have decreased by $-11.8M (-24.3%) from $48.4M to $36.6M, while imports increased by $558k (3.46%) from $16.1M to $16.7M.

Destinations In October 2024, Electric Soldering Equipment were exported mostly to India ($12M), United States ($10.3M), Czechia ($3.95M), China ($2.72M), and Vietnam ($1.22M), and were imported mostly from China ($6.66M), Germany ($2.48M), Japan ($2.4M), Israel ($1.09M), and United States ($978k).

Growth In October 2024, the decrease in Electric Soldering Equipment's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-12.7M or -90%), Hungary ($-10.5M or -99.3%), and United States ($-5.94M or -58.3%). In October 2024, the increase in Electric Soldering Equipment's year-by-year imports was explained primarily by an increase in imports from China ($2.56M or 46.1%), Japan ($1.33M or 132%), and Germany ($661k or 69.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-11.8M(-24.3%)
IMPORT GROWTH (October 2023 - October 2024)$558k(3.46%)
MAIN DESTINATION (October 2024)India$12M

This section shows Electric Soldering Equipment'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 Soldering Equipment over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$524M
IMPORTS (2022)$214M
NET TRADE (2022)$310M

In 2022, South Korea exported $524M in Electric Soldering Equipment. The main destinations of South Korea exports on Electric Soldering Equipment were China ($129M), United States ($87.2M), Hungary ($58M), Vietnam ($57.3M), and India ($31.6M).

In 2022, South Korea imported $214M in Electric Soldering Equipment, mainly from China ($78.3M), Germany ($36.9M), United States ($26.7M), Japan ($23.6M), and Austria ($10.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electric Soldering Equipment EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$38.5M (79.1%)
India$12.5M (65.2%)
Colombia$9.57M (7.19k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Soldering Equipment BY South Korea WERE (2021 - 2022):
Saudi Arabia-$29M (-95.6%)
China-$22.5M (-14.9%)
Hungary-$18.6M (-24.3%)
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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 Soldering Equipment were:
China $2.65B
Germany $2.39B
United States $1.09B
In 2022, South Korea's main importing competitors in Electric Soldering Equipment were:
United States $1.95B
China $965M
Germany $855M

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Trade Value of Electric Soldering Equipment by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $22.9M
TOP IMPORT POTENTIALChina+ $23.2M

Electric Soldering Equipment’s highest export potential is China. With an export gap of $22.9M.   Electric Soldering Equipment’s highest import potential is China with an import gap of $23.2M.

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