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2023
Exports $208BWorld Rnk 3 / 226
Flag Rnk 1 / 96
2023
Destination $512M China
2022 - 2023
FASTEST GROWING MARKET $512MIndia
2023
PRODUCT COMPLEXITY IN Electrical machinery and electronics1.73Rnk 19 / 1025
2023
Imports $98.7BWorld Rnk 8 / 226
Flag Rnk 1 / 96
2023
Origin $4.63B China
2022 - 2023
FASTEST GROWING ORIGIN $4.63BHong Kong
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $208B in Electrical machinery and electronics, making it the 3rd largest exporter of Electrical machinery and electronics in the world. At the same year, Electrical machinery and electronics was the 1st most exported product in South Korea. The main destination of Electrical machinery and electronics exports from South Korea are: China ($87.5B), Hong Kong ($20B), United States ($19.6B), Chinese Taipei ($18.7B), and Singapore ($16.2B).

The fastest growing export markets for Electrical machinery and electronics of South Korea between 2022 and 2023 were India ($512M), Mexico ($399M), and Slovakia ($310M).

Imports In 2023, South Korea imported $98.7B in Electrical machinery and electronics, becoming the 8th largest importer of Electrical machinery and electronics in the world. At the same year, Electrical machinery and electronics was the 1st most imported product in South Korea. South Korea imports Electrical machinery and electronics primarily from: China ($45.7B), Chinese Taipei ($12.8B), Singapore ($7.97B), Japan ($7.16B), and Hong Kong ($5.82B).

The fastest growing import markets in Electrical machinery and electronics for South Korea between 2022 and 2023 were Hong Kong ($4.63B), Singapore ($4.51B), and Malaysia ($382M).

COMPANIES In 2024, leading companies such as LG Electronics (1.46k), Volvo (825), and General Motors (419) were at the forefront of shipping Electrical machinery and electronics from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Electrical machinery and electronics exports accounted up to $19.9B and imports accounted up to $11.3B, resulting in a positive trade balance of $8.6B. Between December 2023 and December 2024 the exports of South Korea's   Electrical machinery and electronics have increased by $3.69B (22.8%) from $16.2B to $19.9B, while imports increased by $2.03B (22%) from $9.24B to $11.3B.

Destinations In December 2024, Electrical machinery and electronics were exported mostly to China ($5.43B), Chinese Taipei ($3.08B), Vietnam ($2.93B), Hong Kong ($2.5B), and United States ($2.39B), and were imported mostly from China ($4.29B), Chinese Taipei ($2.43B), Japan ($1.11B), Vietnam ($940M), and United States ($717M).

Growth In December 2024, the increase in Electrical machinery and electronics's year-by-year exports was explained primarily by an increase in exports to Hong Kong ($1.29B or 175%), China ($886M or 21.9%), and Chinese Taipei ($326M or 55.4%). In December 2024, the increase in Electrical machinery and electronics's year-by-year imports was explained primarily by an increase in imports from Chinese Taipei ($397M or 30%), Vietnam ($103M or 12.1%), and Singapore ($96.8M or 38.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$3.69B(22.8%)
IMPORT GROWTH (December 2023 - December 2024)$2.03B(22%)
MAIN DESTINATION (December 2024)China$5.43B

This section shows Electrical machinery and electronics'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 Electrical machinery and electronics over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$208B
IMPORTS (2023)$98.7B
NET TRADE (2023)$110B

In 2023, South Korea exported $208B in Electrical machinery and electronics. The main destinations of South Korea exports on Electrical machinery and electronics were China ($87.5B), Hong Kong ($20B), United States ($19.6B), Chinese Taipei ($18.7B), and Singapore ($16.2B).

In 2023, South Korea imported $98.7B in Electrical machinery and electronics, mainly from China ($45.7B), Chinese Taipei ($12.8B), Singapore ($7.97B), Japan ($7.16B), and Hong Kong ($5.82B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Electrical machinery and electronics EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
India$512M (11.6%)
Mexico$399M (8.11%)
Slovakia$310M (15.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electrical machinery and electronics BY South Korea WERE (2022 - 2023):
Vietnam-$37.2B (-100%)
United States-$3.48B (-15.1%)
Hong Kong-$2.97B (-12.9%)
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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 Electrical machinery and electronics were:
China $1.05T
Chinese Taipei $287B
In 2023, South Korea's main importing competitors in Electrical machinery and electronics were:
United States $455B
China $353B
Hong Kong $341B

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Trade Value of Electrical machinery and electronics by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $1.88B
TOP IMPORT POTENTIALChina+ $5.43B

Electrical machinery and electronics’s highest export potential is India. With an export gap of $1.88B.   Electrical machinery and electronics’s highest import potential is China with an import gap of $5.43B.

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