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

About

Exports In 2023, South Korea exported $17.1B in Motor vehicles; parts and accessories (8701 to 8705), making it the 7th 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 ($6.17B), Mexico ($1.24B), Czechia ($1.1B), China ($1.09B), and Slovakia ($1.08B).

The fastest growing export markets for Motor vehicles; parts and accessories (8701 to 8705) of South Korea between 2022 and 2023 were Kazakhstan ($337M), Saudi Arabia ($92M), and Slovakia ($90.6M).

Imports In 2023, South Korea imported $4.91B in Motor vehicles; parts and accessories (8701 to 8705), becoming the 24th 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 13th most imported product in South Korea. South Korea imports Motor vehicles; parts and accessories (8701 to 8705) primarily from: China ($2.51B), Germany ($655M), Mexico ($345M), Japan ($276M), and United States ($225M).

The fastest growing import markets in Motor vehicles; parts and accessories (8701 to 8705) for South Korea between 2022 and 2023 were China ($528M), Germany ($91.7M), and United Arab Emirates ($24.8M).

COMPANIES In 2024, leading companies such as Ford Motor Company (292), General Motors (241), and Transaxle Manufacturing (65) were at the forefront of shipping Motor vehicles; parts and accessories (8701 to 8705) from South Korea to the United States.

Latest Trends

January 2025

About

Overview In January 2025 South Korea's Motor vehicles; parts and accessories (8701 to 8705) exports accounted up to $1.3B and imports accounted up to $373M, resulting in a positive trade balance of $929M. Between January 2024 and January 2025 the exports of South Korea's Motor vehicles; parts and accessories (8701 to 8705) have decreased by $-298M (-18.6%) from $1.6B to $1.3B, while imports decreased by $-55.3M (-12.9%) from $429M to $373M.

Destinations In January 2025, Motor vehicles; parts and accessories (8701 to 8705) were exported mostly to United States ($522M), Mexico ($120M), India ($65.6M), China ($60.9M), and Vietnam ($57.6M), and were imported mostly from China ($186M), Germany ($46.6M), United States ($21.5M), Mexico ($21.2M), and Vietnam ($20.7M).

Growth In January 2025, 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 Uzbekistan ($-23.9M or -37.2%), Vietnam ($-20.8M or -35.6%), and India ($-13.6M or -19.4%). In January 2025, the decrease in Motor vehicles; parts and accessories (8701 to 8705)'s year-by-year imports was explained primarily by a decrease in imports from Japan ($-9.46M or -29.7%), Germany ($-4.96M or -11%), and France ($-4.12M or -48.5%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2024 - January 2025)$-298M(-18.6%)

IMPORT GROWTH (January 2024 - January 2025)$-55.3M(-12.9%)

MAIN DESTINATION (January 2025)United States$522M

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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