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Pricing

2022
Exports $48.3MWorld Rnk 38 / 194
Flag Rnk 495 / 1204
2022
Destination $12.6M United States
2021 - 2022
FASTEST GROWING MARKET $12.6MUnited States
2022
PRODUCT COMPLEXITY IN Harvesting Machinery0.77Rnk 257 / 1025
2022
Imports $193MWorld Rnk 33 / 222
Flag Rnk 371 / 1213
2022
Origin $2.45M Japan
2021 - 2022
FASTEST GROWING ORIGIN $2.45MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $48.3M in Harvesting Machinery, making it the 38th largest exporter of Harvesting Machinery in the world. At the same year, Harvesting Machinery was the 495th most exported product in South Korea. The main destination of Harvesting Machinery exports from South Korea are: United States ($25.8M), Australia ($5.31M), Bangladesh ($3.22M), Japan ($2.86M), and Canada ($1.82M).

The fastest growing export markets for Harvesting Machinery of South Korea between 2021 and 2022 were United States ($12.6M), Bangladesh ($3.16M), and Canada ($750k).

Imports In 2022, South Korea imported $193M in Harvesting Machinery, becoming the 33rd largest importer of Harvesting Machinery in the world. At the same year, Harvesting Machinery was the 371st most imported product in South Korea. South Korea imports Harvesting Machinery primarily from: Japan ($110M), China ($21M), United States ($11.9M), France ($10.1M), and Hungary ($7.52M).

The fastest growing import markets in Harvesting Machinery for South Korea between 2021 and 2022 were China ($2.45M), Hungary ($1.86M), and Netherlands ($621k).

COMPANIES In 2023, leading companies such as CNH Industrial (10), LG Electronics (1), and Tmall (1) were at the forefront of shipping Harvesting Machinery from South Korea to the United States.

Latest Trends

November 2024

About

Overview In November 2024 South Korea's Harvesting Machinery exports accounted up to $1.95M and imports accounted up to $5.03M, resulting in a negative trade balance of $3.08M. Between November 2023 and November 2024 the exports of South Korea's   Harvesting Machinery have decreased by $-885k (-31.2%) from $2.84M to $1.95M, while imports decreased by $-1.07M (-17.6%) from $6.1M to $5.03M.

Destinations In November 2024, Harvesting Machinery were exported mostly to United States ($511k), Egypt ($352k), Australia ($177k), Japan ($167k), and Guam ($142k), and were imported mostly from Japan ($2.83M), China ($942k), United States ($530k), Finland ($467k), and Italy ($109k).

Growth In November 2024, the decrease in Harvesting Machinery's year-by-year exports was explained primarily by a decrease in exports to United States ($-145k or -14.8%), United Kingdom ($-70k or -100%), and Netherlands ($-63k or -91.3%). In November 2024, the decrease in Harvesting Machinery's year-by-year imports was explained primarily by a decrease in imports from United States ($-416k or -61.9%), Czechia ($-15k or -93.8%), and Hungary ($-11k or -19.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$-885k(-31.2%)
IMPORT GROWTH (November 2023 - November 2024)$-1.07M(-17.6%)
MAIN DESTINATION (November 2024)United States$511k

This section shows Harvesting Machinery'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 Harvesting Machinery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$48.3M
IMPORTS (2022)$193M
NET TRADE (2022)-$145M

In 2022, South Korea exported $48.3M in Harvesting Machinery. The main destinations of South Korea exports on Harvesting Machinery were United States ($25.8M), Australia ($5.31M), Bangladesh ($3.22M), Japan ($2.86M), and Canada ($1.82M).

In 2022, South Korea imported $193M in Harvesting Machinery, mainly from Japan ($110M), China ($21M), United States ($11.9M), France ($10.1M), and Hungary ($7.52M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Harvesting Machinery EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$12.6M (95.5%)
Bangladesh$3.16M (4.92k%)
Canada$750k (70.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Harvesting Machinery BY South Korea WERE (2021 - 2022):
Egypt-$918k (-48.9%)
Kazakhstan-$519k (-100%)
Russia-$280k (-100%)
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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 Harvesting Machinery were:
Germany $5.01B
United States $4.73B
China $4.04B
In 2022, South Korea's main importing competitors in Harvesting Machinery were:
United States $4.28B
Germany $2.68B
France $2.34B

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Trade Value of Harvesting Machinery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $6.81M
TOP IMPORT POTENTIALChina+ $20M

Harvesting Machinery’s highest export potential is United States. With an export gap of $6.81M.   Harvesting Machinery’s highest import potential is China with an import gap of $20M.

See methodology.

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