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2022
Exports $591MWorld Rnk 5 / 93
Flag Rnk 145 / 1204
2022
Destination $49M United States
2021 - 2022
FASTEST GROWING MARKET $49MUnited States
2022
PRODUCT COMPLEXITY IN Metalworking Transfer Machines2.21Rnk 2 / 1025
2022
Imports $137MWorld Rnk 20 / 169
Flag Rnk 443 / 1213
2022
Origin $19.4M Japan
2021 - 2022
FASTEST GROWING ORIGIN $19.4MJapan
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $591M in Metalworking Transfer Machines, making it the 5th largest exporter of Metalworking Transfer Machines in the world. At the same year, Metalworking Transfer Machines was the 145th most exported product in South Korea. The main destination of Metalworking Transfer Machines exports from South Korea are: United States ($164M), Italy ($80.4M), China ($60.5M), India ($56.6M), and Germany ($46.2M).

The fastest growing export markets for Metalworking Transfer Machines of South Korea between 2021 and 2022 were United States ($49M), India ($23M), and Germany ($14.2M).

Imports In 2022, South Korea imported $137M in Metalworking Transfer Machines, becoming the 20th largest importer of Metalworking Transfer Machines in the world. At the same year, Metalworking Transfer Machines was the 443rd most imported product in South Korea. South Korea imports Metalworking Transfer Machines primarily from: Japan ($90.4M), Chinese Taipei ($12.9M), Germany ($10.9M), China ($10.4M), and United States ($6.09M).

The fastest growing import markets in Metalworking Transfer Machines for South Korea between 2021 and 2022 were Japan ($19.4M), India ($690k), and Indonesia ($285k).

COMPANIES In 2023, leading companies such as LG Electronics (5), Samsung (4), and Haas Automation (1) were at the forefront of shipping Metalworking Transfer Machines from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Metalworking Transfer Machines exports accounted up to $34.3M and imports accounted up to $10.9M, resulting in a positive trade balance of $23.4M. Between October 2023 and October 2024 the exports of South Korea's   Metalworking Transfer Machines have decreased by $-15M (-30.4%) from $49.3M to $34.3M, while imports decreased by $-1.3M (-10.7%) from $12.2M to $10.9M.

Destinations In October 2024, Metalworking Transfer Machines were exported mostly to United States ($10.8M), Italy ($5.93M), Germany ($4.6M), Turkey ($2.46M), and China ($2.01M), and were imported mostly from Japan ($7.4M), Chinese Taipei ($1.39M), Germany ($1.1M), United States ($664k), and China ($355k).

Growth In October 2024, the decrease in Metalworking Transfer Machines's year-by-year exports was explained primarily by a decrease in exports to United States ($-2.57M or -14.5%), Italy ($-2.04M or -19.6%), and Vietnam ($-1.99M or -52.7%). In October 2024, the decrease in Metalworking Transfer Machines's year-by-year imports was explained primarily by a decrease in imports from India ($-340k or -100%), United States ($-243k or -100%), and China ($-116k or -53.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-15M(-30.4%)
IMPORT GROWTH (October 2023 - October 2024)$-1.3M(-10.7%)
MAIN DESTINATION (October 2024)United States$10.8M

This section shows Metalworking Transfer Machines'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 Metalworking Transfer Machines over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$591M
IMPORTS (2022)$137M
NET TRADE (2022)$454M

In 2022, South Korea exported $591M in Metalworking Transfer Machines. The main destinations of South Korea exports on Metalworking Transfer Machines were United States ($164M), Italy ($80.4M), China ($60.5M), India ($56.6M), and Germany ($46.2M).

In 2022, South Korea imported $137M in Metalworking Transfer Machines, mainly from Japan ($90.4M), Chinese Taipei ($12.9M), Germany ($10.9M), China ($10.4M), and United States ($6.09M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Metalworking Transfer Machines EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$49M (42.8%)
India$23M (68.5%)
Germany$14.2M (44.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Metalworking Transfer Machines BY South Korea WERE (2021 - 2022):
China-$38.3M (-38.8%)
Russia-$7.67M (-60.4%)
Estonia-$6.06M (-87.9%)
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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 Metalworking Transfer Machines were:
Japan $2.84B
Germany $1.79B
Chinese Taipei $1.13B
In 2022, South Korea's main importing competitors in Metalworking Transfer Machines were:
China $1.85B
United States $1.5B
Germany $559M

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Trade Value of Metalworking Transfer Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $35.3M
TOP IMPORT POTENTIALChina+ $6.12M

Metalworking Transfer Machines’s highest export potential is China. With an export gap of $35.3M.   Metalworking Transfer Machines’s highest import potential is China with an import gap of $6.12M.

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