Motor vehicles; parts and accessories (8701 to 8705) in South Korea

About

Exports In 2022, South Korea exported $20B in Motor vehicles; parts and accessories (8701 to 8705), making it the 6th largest exporter of Motor vehicles; parts and accessories (8701 to 8705) in the world. At the same year, Motor vehicles; parts and accessories (8701 to 8705) was the 5th most exported product in South Korea. The main destination of Motor vehicles; parts and accessories (8701 to 8705) exports from South Korea are: United States ($6.84B), Mexico ($1.42B), Vietnam ($1.13B), China ($1.12B), and Czechia ($1.01B).

The fastest growing export markets for Motor vehicles; parts and accessories (8701 to 8705) of South Korea between 2021 and 2022 were United States ($1.11B), Mexico ($270M), and Vietnam ($263M).

Imports In 2022, South Korea imported $4.96B in Motor vehicles; parts and accessories (8701 to 8705), becoming the 21st largest importer of Motor vehicles; parts and accessories (8701 to 8705) in the world. At the same year, Motor vehicles; parts and accessories (8701 to 8705) was the 14th most imported product in South Korea. South Korea imports Motor vehicles; parts and accessories (8701 to 8705) primarily from: China ($2.11B), Germany ($618M), Mexico ($420M), Japan ($365M), and France ($265M).

The fastest growing import markets in Motor vehicles; parts and accessories (8701 to 8705) for South Korea between 2021 and 2022 were China ($313M), Mexico ($117M), and Italy ($64.8M).

COMPANIES In 2023, leading companies such as VOLKSWAGEN GROUP OF AMERICA (1.85k), LG ELECTRONICS U.S.A. INC. (1.42k), and SCHAEFFLER GROUP USA INC. (1.16k) were at the forefront of shipping Motor vehicles; parts and accessories (8701 to 8705) from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Motor vehicles; parts and accessories (8701 to 8705) exports accounted up to $1.68B and imports accounted up to $365M, resulting in a positive trade balance of $1.32B. Between February 2023 and February 2024 the exports of South Korea's Motor vehicles; parts and accessories (8701 to 8705) have decreased by $-34.6M (-2.02%) from $1.72B to $1.68B, while imports decreased by $-83.4M (-18.6%) from $449M to $365M.

Destinations In February 2024, Motor vehicles; parts and accessories (8701 to 8705) were exported mostly to United States ($627M), Mexico ($115M), Czechia ($95.5M), Slovakia ($77.7M), and China ($75M), and were imported mostly from China ($163M), Germany ($48.6M), Mexico ($26.3M), Japan ($20M), and Vietnam ($17.7M).

Growth In February 2024, the decrease in Motor vehicles; parts and accessories (8701 to 8705)'s year-by-year exports was explained primarily by a decrease in exports to Russia ($-90.1M or -75.7%), United States ($-70.1M or -12%), and China ($-45.7M or -44.4%). In February 2024, the decrease in Motor vehicles; parts and accessories (8701 to 8705)'s year-by-year imports was explained primarily by a decrease in imports from Japan ($-4.72M or -12.9%), Italy ($-2.3M or -39.8%), and France ($-1.72M or -16.9%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-34.6M(-2.02%)

IMPORT GROWTH (February 2023 - February 2024)$-83.4M(-18.6%)

MAIN DESTINATION (February 2024)United States$627M

This section shows Motor vehicles; parts and accessories (8701 to 8705)'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 Motor vehicles; parts and accessories (8701 to 8705) over time.

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