2019 Exports | Imports: $160B | $83.6B, World Rnk 4 / 225
Rnk 1 / 96 | World Rnk 7 / 225 Rnk 2 / 96
2019 Destination | Origin: $52.2B | $38.1B, China | China
2018 - 2019 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $3.87B | $2.28B, Vietnam | China
2019 ECONOMIC COMPLEXITY of South Korea: 1.98, Rnk 5 / 157
2019 PRODUCT COMPLEXITY IN Electrical machinery and equipment: 1.29, Rnk 10 / 96
Exports: In 2019, South Korea exported $160B in Electrical machinery and equipment, making it the 4th largest exporter of Electrical machinery and equipment in the world. At the same year, Electrical machinery and equipment was the 1st most exported product in South Korea. The main destination of Electrical machinery and equipment exports from South Korea are: China ($52.2B), Vietnam ($24.8B), Hong Kong ($23B), United States ($12.9B), and Chinese Taipei ($5.89B).
The fastest growing export markets for Electrical machinery and equipment of South Korea between 2018 and 2019 were Vietnam ($3.87B), Mexico ($1.01B), and Poland ($359M).
Imports: In 2019, South Korea imported $83.6B in Electrical machinery and equipment, becoming the 7th largest importer of Electrical machinery and equipment in the world. At the same year, Electrical machinery and equipment was the 2nd most imported product in South Korea. South Korea imports Electrical machinery and equipment primarily from: China ($38.1B), Chinese Taipei ($9.23B), Vietnam ($9.05B), Japan ($6.64B), and United States ($5.8B).
The fastest growing import markets in Electrical machinery and equipment for South Korea between 2018 and 2019 were China ($2.28B), Vietnam ($1.5B), and Netherlands ($232M).
Tariffs: In 2018, the average tariff for South Korea in Electrical machinery and equipment was 4.19%. The countries with the highest import tariffs for Electrical machinery and equipment were Botswana (6.7%), Cote d'Ivoire (6.7%), Cameroon (6.7%), Republic of the Congo (6.7%), and Cape Verde (6.7%).
Overview: In February 2021 South Korea's Electrical machinery and equipment exports accounted up to N/A13.5B and imports accounted up to N/A7.69B, resulting in a positive trade balance of N/A5.85B. Between February 2020 and February 2021 the exports of South Korea's Electrical machinery and equipment have increased by N/A1.35B (11.1%) from N/A12.2B to N/A13.5B, while imports increased by N/A1.25B (19.4%) from N/A6.44B to N/A7.69B.
Destinations: In February 2021 Electrical machinery and equipment exported mostly to China ($4.33B), Vietnam ($2.15B), Hong Kong ($1.87B), United States ($1.24B), and Chinese Taipei ($856M), and imported mostly from China ($3.27B), Chinese Taipei ($1.28B), Japan ($677M), Vietnam ($574M), and United States ($528M).
Growth: In February 2021, the increase in Electrical machinery and equipment's year-by-year exports was explained primarily by an increase in exports to China ($686M or 18.8%), Chinese Taipei ($436M or 104%), and Philippines ($54.6M or 22.9%). In February 2021, the increase in Electrical machinery and equipment's year-by-year imports was explained primarily by an increase in imports from China ($799M or 32.3%), Chinese Taipei ($306M or 31.5%), and Japan ($109M or 19.3%).
EXPORT GROWTH (February 2020 - February 2021): N/A1.35B, (11.1%)
IMPORT GROWTH (February 2020 - February 2021): N/A1.25B, (19.4%)
MAIN DESTINATION (February 2021): China, $4.33B
This section shows Electrical machinery and 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 Electrical machinery and equipment over time.
EXPORTS (2019): $160B
IMPORTS (2019): $83.6B
NET TRADE (2019): $76.8B
In 2019, South Korea exported $160B in Electrical machinery and equipment. The main destinations of South Korea exports on Electrical machinery and equipment were China ($52.2B), Vietnam ($24.8B), Hong Kong ($23B), United States ($12.9B), and Chinese Taipei ($5.89B).
In 2019, South Korea imported $83.6B in Electrical machinery and equipment, mainly from China ($38.1B), Chinese Taipei ($9.23B), Vietnam ($9.05B), Japan ($6.64B), and United States ($5.8B).
IN 2019, South Korea HAD A POSITIVE NET TRADE IN Electrical machinery and equipment WITH:
IN 2019, South Korea HAD A NEGATIVE NET TRADE IN Electrical machinery and equipment WITH:
THE FASTEST GROWING Electrical machinery and equipment EXPORT MARKETS FOR South Korea WERE (2018 - 2019):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electrical machinery and equipment BY South Korea WERE (2018 - 2019):
In 2018, South Korea's main exporting competitors in Electrical machinery and equipment were:
In 2018, South Korea's main importing competitors in Electrical machinery and equipment were:
In 2018, the average tariff for South Korea in Electrical machinery and equipment was 4.19%.
The countries with the highest tariffs for Electrical machinery and equipment in South Korea were Botswana (6.7%), Cote d'Ivoire (6.7%), Cameroon (6.7%), Republic of the Congo (6.7%), and Cape Verde (6.7%).
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