Other Electrical Machinery in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $1.63B in Other Electrical Machinery, making it the 9th largest exporter of Other Electrical Machinery in the world. At the same year, Other Electrical Machinery was the 65th most exported product in South Korea. The main destination of Other Electrical Machinery exports from South Korea are: China ($413M), United States ($332M), Vietnam ($153M), Japan ($141M), and Hungary ($53.4M).

The fastest growing export markets for Other Electrical Machinery of South Korea between 2021 and 2022 were United States ($77.7M), Vietnam ($40.7M), and Indonesia ($12.8M).

Imports In 2022, South Korea imported $1.54B in Other Electrical Machinery, becoming the 13th largest importer of Other Electrical Machinery in the world. At the same year, Other Electrical Machinery was the 68th most imported product in South Korea. South Korea imports Other Electrical Machinery primarily from: China ($648M), Japan ($248M), United States ($241M), Vietnam ($87.6M), and Germany ($71.9M).

The fastest growing import markets in Other Electrical Machinery for South Korea between 2021 and 2022 were Singapore ($15M), Poland ($10.1M), and Chinese Taipei ($9.82M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (1.78k), SAMSUNG ELECTRONICS AMERICA (686), and AMERICAN OMNI TRADING (141) were at the forefront of shipping Other Electrical Machinery from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Other Electrical Machinery exports accounted up to $167M and imports accounted up to $126M, resulting in a positive trade balance of $40.7M. Between February 2023 and February 2024 the exports of South Korea's Other Electrical Machinery have increased by $51.4M (44.7%) from $115M to $167M, while imports decreased by $-614k (-0.49%) from $126M to $126M.

Destinations In February 2024, Other Electrical Machinery were exported mostly to United States ($71.5M), China ($23.7M), Vietnam ($14.4M), Japan ($9.8M), and Poland ($6.74M), and were imported mostly from China ($46.2M), Japan ($17.7M), United States ($16.6M), Malaysia ($8.75M), and Germany ($5.08M).

Growth In February 2024, the increase in Other Electrical Machinery's year-by-year exports was explained primarily by an increase in exports to Hungary ($9.53M or 44.8%), Indonesia ($3.6M or 471%), and Malaysia ($3.53M or 66.9%). In February 2024, the decrease in Other Electrical Machinery's year-by-year imports was explained primarily by a decrease in imports from Russia ($-1.91M or -96.6%), Israel ($-753k or -39.1%), and Malaysia ($-718k or -7.04%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$51.4M(44.7%)

IMPORT GROWTH (February 2023 - February 2024)$-614k(-0.49%)

MAIN DESTINATION (February 2024)United States$71.5M

This section shows Other Electrical 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 Other Electrical Machinery over time.

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