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2023
Exports $840MWorld Rnk 13 / 199
Flag Rnk 39 / 96
2023
Destination $102M Australia
2022 - 2023
FASTEST GROWING MARKET $102MUnited States
2023
PRODUCT COMPLEXITY IN Railway and trams1.49Rnk 47 / 1025
2023
Imports $337MWorld Rnk 28 / 216
Flag Rnk 72 / 96
2023
Origin $18.6M China
2022 - 2023
FASTEST GROWING ORIGIN $18.6MAustria
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $840M in Railway and trams, making it the 13th largest exporter of Railway and trams in the world. At the same year, Railway and trams was the 39th most exported product in South Korea. The main destination of Railway and trams exports from South Korea are: Australia ($256M), Chinese Taipei ($194M), United States ($138M), Poland ($97.3M), and Ireland ($40.7M).

The fastest growing export markets for Railway and trams of South Korea between 2022 and 2023 were United States ($102M), Australia ($61.3M), and Philippines ($23.4M).

Imports In 2023, South Korea imported $337M in Railway and trams, becoming the 28th largest importer of Railway and trams in the world. At the same year, Railway and trams was the 72nd most imported product in South Korea. South Korea imports Railway and trams primarily from: China ($171M), Austria ($59.9M), United States ($36.5M), Germany ($15.5M), and Czechia ($11.1M).

The fastest growing import markets in Railway and trams for South Korea between 2022 and 2023 were Austria ($18.6M), Czechia ($4.52M), and Spain ($787k).

COMPANIES In 2024, leading companies such as Hankook Tires (73), General Motors (54), and Samsung (8) were at the forefront of shipping Railway and trams from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Railway and trams exports accounted up to $102M and imports accounted up to $38.5M, resulting in a positive trade balance of $64M. Between December 2023 and December 2024 the exports of South Korea's   Railway and trams have increased by $36.6M (55.5%) from $65.9M to $102M, while imports increased by $8.72M (29.3%) from $29.8M to $38.5M.

Destinations In December 2024, Railway and trams were exported mostly to Tanzania ($37M), Australia ($25.3M), Philippines ($12.3M), United States ($5.7M), and Netherlands ($3.96M), and were imported mostly from China ($18.6M), Netherlands ($6.93M), United States ($4.12M), Japan ($1.82M), and United Kingdom ($1.06M).

Growth In December 2024, the increase in Railway and trams's year-by-year exports was explained primarily by an increase in exports to Philippines ($22.5M or 10.2k%), United States ($11.9M or 345%), and Thailand ($910k or 236%). In December 2024, the increase in Railway and trams's year-by-year imports was explained primarily by an increase in imports from United States ($4.11M or 72.5%), France ($572k or 174%), and Vietnam ($464k or 204%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$36.6M(55.5%)
IMPORT GROWTH (December 2023 - December 2024)$8.72M(29.3%)
MAIN DESTINATION (December 2024)Tanzania$37M

This section shows Railway and trams'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 Railway and trams over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$840M
IMPORTS (2023)$337M
NET TRADE (2023)$504M

In 2023, South Korea exported $840M in Railway and trams. The main destinations of South Korea exports on Railway and trams were Australia ($256M), Chinese Taipei ($194M), United States ($138M), Poland ($97.3M), and Ireland ($40.7M).

In 2023, South Korea imported $337M in Railway and trams, mainly from China ($171M), Austria ($59.9M), United States ($36.5M), Germany ($15.5M), and Czechia ($11.1M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Railway and trams EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
United States$102M (277%)
Australia$61.3M (31.5%)
Philippines$23.4M (1.63k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Railway and trams BY South Korea WERE (2022 - 2023):
Chinese Taipei-$134M (-40.7%)
Ireland-$114M (-73.8%)
Hong Kong-$110M (-97.2%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Railway and trams were:
China $7.21B
United States $3.51B
Germany $3.42B
In 2023, South Korea's main importing competitors in Railway and trams were:
Germany $3.95B
United States $3.22B
United Kingdom $1.67B

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Trade Value of Railway and trams by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $12.9M
TOP IMPORT POTENTIALChina+ $38.9M

Railway and trams’s highest export potential is United States. With an export gap of $12.9M.   Railway and trams’s highest import potential is China with an import gap of $38.9M.

See methodology.

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