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2022
Exports $44.6MWorld Rnk 23 / 218
Flag Rnk 512 / 1204
2022
Destination $1.19M United States
2021 - 2022
FASTEST GROWING MARKET $1.19MPhilippines
2022
PRODUCT COMPLEXITY IN Other Hand Tools1.51Rnk 50 / 1025
2022
Imports $130MWorld Rnk 18 / 224
Flag Rnk 454 / 1213
2022
Origin $5.92M China
2021 - 2022
FASTEST GROWING ORIGIN $5.92MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $44.6M in Other Hand Tools, making it the 23rd largest exporter of Other Hand Tools in the world. At the same year, Other Hand Tools was the 512th most exported product in South Korea. The main destination of Other Hand Tools exports from South Korea are: United States ($8.14M), Vietnam ($4.27M), Japan ($2.71M), China ($2.33M), and Philippines ($2.26M).

The fastest growing export markets for Other Hand Tools of South Korea between 2021 and 2022 were Philippines ($1.19M), Guam ($884k), and Turkey ($819k).

Imports In 2022, South Korea imported $130M in Other Hand Tools, becoming the 18th largest importer of Other Hand Tools in the world. At the same year, Other Hand Tools was the 454th most imported product in South Korea. South Korea imports Other Hand Tools primarily from: China ($78.5M), Chinese Taipei ($11.6M), Japan ($10.6M), United States ($9.22M), and Germany ($8.94M).

The fastest growing import markets in Other Hand Tools for South Korea between 2021 and 2022 were China ($5.92M), Thailand ($496k), and Italy ($451k).

COMPANIES In 2023, leading companies such as SIGMA Corp (19), General Motors (2), and Stanley Black & Decker (1) were at the forefront of shipping Other Hand Tools from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Other Hand Tools exports accounted up to $4.97M and imports accounted up to $7.8M, resulting in a negative trade balance of $2.83M. Between July 2023 and July 2024 the exports of South Korea's   Other Hand Tools have increased by $2.32M (87.8%) from $2.65M to $4.97M, while imports decreased by $-204k (-2.55%) from $8.01M to $7.8M.

Destinations In July 2024, Other Hand Tools were exported mostly to United States ($1.99M), Vietnam ($358k), United Kingdom ($205k), Italy ($189k), and New Zealand ($186k), and were imported mostly from China ($4M), Japan ($1.22M), United States ($773k), Chinese Taipei ($607k), and Germany ($388k).

Growth In July 2024, the increase in Other Hand Tools's year-by-year exports was explained primarily by an increase in exports to Hungary ($213k or 4.26k%), Iraq ($116k or 11.6k%), and United Kingdom ($89k or 135%). In July 2024, the decrease in Other Hand Tools's year-by-year imports was explained primarily by a decrease in imports from China ($-604k or -12.8%), Chinese Taipei ($-329k or -32.2%), and Japan ($-316k or -18.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$2.32M(87.8%)
IMPORT GROWTH (July 2023 - July 2024)$-204k(-2.55%)
MAIN DESTINATION (July 2024)United States$1.99M

This section shows Other Hand Tools'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 Hand Tools over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$44.6M
IMPORTS (2022)$130M
NET TRADE (2022)-$85.8M

In 2022, South Korea exported $44.6M in Other Hand Tools. The main destinations of South Korea exports on Other Hand Tools were United States ($8.14M), Vietnam ($4.27M), Japan ($2.71M), China ($2.33M), and Philippines ($2.26M).

In 2022, South Korea imported $130M in Other Hand Tools, mainly from China ($78.5M), Chinese Taipei ($11.6M), Japan ($10.6M), United States ($9.22M), and Germany ($8.94M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Other Hand Tools EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Philippines$1.19M (112%)
Guam$884k (11.8k%)
Turkey$819k (419%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Other Hand Tools BY South Korea WERE (2021 - 2022):
United States-$3.7M (-31.2%)
Vietnam-$1.26M (-22.8%)
Saudi Arabia-$971k (-35.8%)
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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 Other Hand Tools were:
China $4.12B
Chinese Taipei $1.14B
Germany $798M
In 2022, South Korea's main importing competitors in Other Hand Tools were:
United States $1.86B
Germany $743M
France $392M

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Trade Value of Other Hand Tools by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $3.46M
TOP IMPORT POTENTIALChina+ $18.3M

Other Hand Tools’s highest export potential is United States. With an export gap of $3.46M.   Other Hand Tools’s highest import potential is China with an import gap of $18.3M.

See methodology.

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