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2023
Exports $622MWorld Rnk 5 / 104
Flag Rnk 135 / 1188
2023
Destination $21.9M United States
2022 - 2023
FASTEST GROWING MARKET $21.9MMexico
2023
PRODUCT COMPLEXITY IN Metalworking Transfer Machines2.12Rnk 2 / 1025
2023
Imports $131MWorld Rnk 18 / 169
Flag Rnk 421 / 1208
2023
Origin $12.5M Japan
2022 - 2023
FASTEST GROWING ORIGIN $12.5MGermany
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $622M 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 135th most exported product in South Korea. The main destination of Metalworking Transfer Machines exports from South Korea are: United States ($183M), Italy ($74.1M), China ($50.5M), Germany ($48.1M), and Turkey ($45.1M).

The fastest growing export markets for Metalworking Transfer Machines of South Korea between 2022 and 2023 were Mexico ($21.9M), Kazakhstan ($15.5M), and Turkey ($14.8M).

Imports In 2023, South Korea imported $131M in Metalworking Transfer Machines, becoming the 18th largest importer of Metalworking Transfer Machines in the world. At the same year, Metalworking Transfer Machines was the 421st most imported product in South Korea. South Korea imports Metalworking Transfer Machines primarily from: Japan ($73.3M), Germany ($25.8M), Chinese Taipei ($17.6M), China ($5.59M), and Switzerland ($3.19M).

The fastest growing import markets in Metalworking Transfer Machines for South Korea between 2022 and 2023 were Germany ($12.5M), Chinese Taipei ($4.94M), and Austria ($1.8M).

COMPANIES In 2024, leading companies such as Dow Chemical (4) were at the forefront of shipping Metalworking Transfer Machines from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Metalworking Transfer Machines exports accounted up to $45.9M and imports accounted up to $15.3M, resulting in a positive trade balance of $30.6M. Between December 2023 and December 2024 the exports of South Korea's   Metalworking Transfer Machines have decreased by $-4.72M (-9.32%) from $50.7M to $45.9M, while imports increased by $3.99M (35.2%) from $11.3M to $15.3M.

Destinations In December 2024, Metalworking Transfer Machines were exported mostly to Italy ($11.2M), United States ($8.06M), India ($5.83M), China ($3.09M), and Slovakia ($2.91M), and were imported mostly from Japan ($8.42M), Chinese Taipei ($2.81M), Germany ($2.37M), China ($1.18M), and India ($410k).

Growth In December 2024, the decrease in Metalworking Transfer Machines's year-by-year exports was explained primarily by a decrease in exports to United States ($-3.9M or -25.7%), Germany ($-2.01M or -44.4%), and Italy ($-1.86M or -22.3%). In December 2024, the increase in Metalworking Transfer Machines's year-by-year imports was explained primarily by an increase in imports from Japan ($4.86M or 125%), Germany ($3.6M or 177%), and China ($735k or 721%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-4.72M(-9.32%)
IMPORT GROWTH (December 2023 - December 2024)$3.99M(35.2%)
MAIN DESTINATION (December 2024)Italy$11.2M

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 (2023)$622M
IMPORTS (2023)$131M
NET TRADE (2023)$490M

In 2023, South Korea exported $622M in Metalworking Transfer Machines. The main destinations of South Korea exports on Metalworking Transfer Machines were United States ($183M), Italy ($74.1M), China ($50.5M), Germany ($48.1M), and Turkey ($45.1M).

In 2023, South Korea imported $131M in Metalworking Transfer Machines, mainly from Japan ($73.3M), Germany ($25.8M), Chinese Taipei ($17.6M), China ($5.59M), and Switzerland ($3.19M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Metalworking Transfer Machines EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Mexico$21.9M (121%)
Kazakhstan$15.5M (8.26k%)
Turkey$14.8M (48.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Metalworking Transfer Machines BY South Korea WERE (2022 - 2023):
India-$24.2M (-39.5%)
Vietnam-$17.9M (-100%)
Brazil-$11.6M (-60.5%)
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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 Metalworking Transfer Machines were:
Japan $2.78B
Germany $2.04B
Chinese Taipei $960M
In 2023, South Korea's main importing competitors in Metalworking Transfer Machines were:
China $1.78B
United States $1.61B
Turkey $670M

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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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