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2022
Exports $78.4MWorld Rnk 15 / 200
Flag Rnk 411 / 1204
2022
Destination $1.77M United States
2021 - 2022
FASTEST GROWING MARKET $1.77MPhilippines
2022
PRODUCT COMPLEXITY IN Pens0.7Rnk 277 / 1025
2022
Imports $151MWorld Rnk 12 / 222
Flag Rnk 425 / 1213
2022
Origin $12.8M Japan
2021 - 2022
FASTEST GROWING ORIGIN $12.8MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $78.4M in Pens, making it the 15th largest exporter of Pens in the world. At the same year, Pens was the 411th most exported product in South Korea. The main destination of Pens exports from South Korea are: United States ($15.2M), Japan ($14.6M), Russia ($7.33M), Thailand ($4.83M), and Mexico ($4.44M).

The fastest growing export markets for Pens of South Korea between 2021 and 2022 were Philippines ($1.77M), Germany ($1.27M), and Thailand ($1.06M).

Imports In 2022, South Korea imported $151M in Pens, becoming the 12th largest importer of Pens in the world. At the same year, Pens was the 425th most imported product in South Korea. South Korea imports Pens primarily from: Japan ($56M), China ($51.9M), Germany ($20.7M), Thailand ($8.9M), and France ($3.03M).

The fastest growing import markets in Pens for South Korea between 2021 and 2022 were China ($12.8M), Japan ($3.76M), and Thailand ($2.69M).

COMPANIES In 2023, leading companies such as ZF Friedrichshafen (4) and General Motors (1) were at the forefront of shipping Pens from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Pens exports accounted up to $4.62M and imports accounted up to $9.81M, resulting in a negative trade balance of $5.19M. Between July 2023 and July 2024 the exports of South Korea's   Pens have decreased by $-966k (-17.3%) from $5.59M to $4.62M, while imports decreased by $-1.28M (-11.6%) from $11.1M to $9.81M.

Destinations In July 2024, Pens were exported mostly to United States ($1.18M), Japan ($840k), Russia ($450k), Vietnam ($306k), and Turkey ($304k), and were imported mostly from Japan ($4.75M), China ($2.61M), Germany ($981k), Thailand ($396k), and France ($370k).

Growth In July 2024, the decrease in Pens's year-by-year exports was explained primarily by a decrease in exports to Philippines ($-389k or -99.5%), Egypt ($-176k or -100%), and Mexico ($-174k or -26.5%). In July 2024, the decrease in Pens's year-by-year imports was explained primarily by a decrease in imports from China ($-334k or -8.92%), France ($-110k or -36.8%), and Italy ($-99k or -76.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-966k(-17.3%)
IMPORT GROWTH (July 2023 - July 2024)$-1.28M(-11.6%)
MAIN DESTINATION (July 2024)United States$1.18M

This section shows Pens'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 Pens over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$78.4M
IMPORTS (2022)$151M
NET TRADE (2022)-$72.3M

In 2022, South Korea exported $78.4M in Pens. The main destinations of South Korea exports on Pens were United States ($15.2M), Japan ($14.6M), Russia ($7.33M), Thailand ($4.83M), and Mexico ($4.44M).

In 2022, South Korea imported $151M in Pens, mainly from Japan ($56M), China ($51.9M), Germany ($20.7M), Thailand ($8.9M), and France ($3.03M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Pens EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Philippines$1.77M (77.8%)
Germany$1.27M (67%)
Thailand$1.06M (28.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pens BY South Korea WERE (2021 - 2022):
Japan-$2.86M (-16.4%)
Egypt-$531k (-37.9%)
Honduras-$124k (-97.3%)
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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 Pens were:
China $2.39B
Japan $1.02B
Germany $776M
In 2022, South Korea's main importing competitors in Pens were:
United States $1.17B
Germany $439M
France $423M

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Trade Value of Pens by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $4.12M
TOP IMPORT POTENTIALChina+ $17.7M

Pens’s highest export potential is United States. With an export gap of $4.12M.   Pens’s highest import potential is China with an import gap of $17.7M.

See methodology.

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