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2022
Exports $787kWorld Rnk 20 / 137
Flag Rnk 1004 / 1204
2022
Destination $317k Japan
2021 - 2022
FASTEST GROWING MARKET $317kJapan
2022
Imports $11.2MWorld Rnk 4 / 202
Flag Rnk 925 / 1213
2022
Origin $114k China
2021 - 2022
FASTEST GROWING ORIGIN $114kJapan
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $787k in Other Musical Instruments, making it the 20th largest exporter of Other Musical Instruments in the world. At the same year, Other Musical Instruments was the 1004th most exported product in South Korea. The main destination of Other Musical Instruments exports from South Korea are: Japan ($344k), United Kingdom ($203k), Vietnam ($90.6k), United States ($63.4k), and Switzerland ($14.7k).

The fastest growing export markets for Other Musical Instruments of South Korea between 2021 and 2022 were Japan ($317k), United Kingdom ($192k), and Vietnam ($84.7k).

Imports In 2022, South Korea imported $11.2M in Other Musical Instruments, becoming the 4th largest importer of Other Musical Instruments in the world. At the same year, Other Musical Instruments was the 925th most imported product in South Korea. South Korea imports Other Musical Instruments primarily from: China ($10.4M), Japan ($197k), United States ($121k), Switzerland ($81.1k), and Canada ($69.8k).

The fastest growing import markets in Other Musical Instruments for South Korea between 2021 and 2022 were Japan ($114k), Switzerland ($29.7k), and Chinese Taipei ($24.9k).

COMPANIES In 2023, leading companies such as LG Electronics (22) and General Motors (1) were at the forefront of shipping Other Musical Instruments from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Other Musical Instruments exports accounted up to $40k and imports accounted up to $326k, resulting in a negative trade balance of $286k. Between July 2023 and July 2024 the exports of South Korea's   Other Musical Instruments have increased by $4k (11.1%) from $36k to $40k, while imports increased by $66k (25.4%) from $260k to $326k.

Destinations In July 2024, Other Musical Instruments were exported mostly to Japan ($32k), China ($8k), Hong Kong ($0), India ($0), and Israel ($0), and were imported mostly from China ($240k), Japan ($30k), Canada ($21k), United Kingdom ($18k), and Italy ($5k).

Growth In July 2024, the increase in Other Musical Instruments's year-by-year exports was explained primarily by an increase in exports to . In July 2024, the increase in Other Musical Instruments's year-by-year imports was explained primarily by an increase in imports from Chinese Taipei ($14k or 1.4k%), United States ($11k or 220%), and France ($1k or 100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$4k(11.1%)
IMPORT GROWTH (July 2023 - July 2024)$66k(25.4%)
MAIN DESTINATION (July 2024)Japan$32k

This section shows Other Musical Instruments'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 Musical Instruments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$787k
IMPORTS (2022)$11.2M
NET TRADE (2022)-$10.4M

In 2022, South Korea exported $787k in Other Musical Instruments. The main destinations of South Korea exports on Other Musical Instruments were Japan ($344k), United Kingdom ($203k), Vietnam ($90.6k), United States ($63.4k), and Switzerland ($14.7k).

In 2022, South Korea imported $11.2M in Other Musical Instruments, mainly from China ($10.4M), Japan ($197k), United States ($121k), Switzerland ($81.1k), and Canada ($69.8k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Other Musical Instruments EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Japan$317k (1.15k%)
United Kingdom$192k (1.79k%)
Vietnam$84.7k (1.43k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Other Musical Instruments BY South Korea WERE (2021 - 2022):
Philippines-$5.2k (-89.1%)
Brazil-$4.69k (-100%)
Nigeria-$3.3k (-100%)
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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 Musical Instruments were:
China $107M
United States $15.2M
Malaysia $7.21M
In 2022, South Korea's main importing competitors in Other Musical Instruments were:
United States $37.1M
United Kingdom $12.4M
Germany $11.7M

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Trade Value of Other Musical Instruments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $53k
TOP IMPORT POTENTIALUnited States+ $84.1k

Other Musical Instruments’s highest export potential is United States. With an export gap of $53k.   Other Musical Instruments’s highest import potential is United States with an import gap of $84.1k.

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