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2022
Exports $48.9MWorld Rnk 7 / 155
Flag Rnk 491 / 1204
2022
Destination $879k United States
2021 - 2022
FASTEST GROWING MARKET $879kIndonesia
2022
PRODUCT COMPLEXITY IN Safes0.76Rnk 261 / 1025
2022
Imports $5.8MWorld Rnk 40 / 216
Flag Rnk 1003 / 1213
2022
Origin $197k China
2021 - 2022
FASTEST GROWING ORIGIN $197kGermany
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $48.9M in Safes, making it the 7th largest exporter of Safes in the world. At the same year, Safes was the 491st most exported product in South Korea. The main destination of Safes exports from South Korea are: United States ($8.72M), Japan ($2.85M), Indonesia ($2.75M), United Arab Emirates ($2.66M), and Saudi Arabia ($2.23M).

The fastest growing export markets for Safes of South Korea between 2021 and 2022 were Indonesia ($879k), Saudi Arabia ($732k), and Malaysia ($670k).

Imports In 2022, South Korea imported $5.8M in Safes, becoming the 40th largest importer of Safes in the world. At the same year, Safes was the 1003rd most imported product in South Korea. South Korea imports Safes primarily from: China ($4.66M), Germany ($342k), Italy ($205k), Denmark ($118k), and Vietnam ($105k).

The fastest growing import markets in Safes for South Korea between 2021 and 2022 were Germany ($197k), Denmark ($118k), and Mexico ($64.7k).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Safes exports accounted up to $4M and imports accounted up to $644k, resulting in a positive trade balance of $3.36M. Between July 2023 and July 2024 the exports of South Korea's   Safes have increased by $146k (3.79%) from $3.86M to $4M, while imports increased by $456k (243%) from $188k to $644k.

Destinations In July 2024, Safes were exported mostly to United States ($524k), Indonesia ($371k), Japan ($333k), Libya ($245k), and United Arab Emirates ($235k), and were imported mostly from China ($624k), Indonesia ($9k), United States ($8k), Italy ($3k), and Benin ($0).

Growth In July 2024, the increase in Safes's year-by-year exports was explained primarily by an increase in exports to Qatar ($164k or 911%), Japan ($133k or 82.1%), and Germany ($88k or 76.5%). In July 2024, the increase in Safes's year-by-year imports was explained primarily by an increase in imports from China ($65k or 22%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$146k(3.79%)
IMPORT GROWTH (July 2023 - July 2024)$456k(243%)
MAIN DESTINATION (July 2024)United States$524k

This section shows Safes'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 Safes over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$48.9M
IMPORTS (2022)$5.8M
NET TRADE (2022)$43.1M

In 2022, South Korea exported $48.9M in Safes. The main destinations of South Korea exports on Safes were United States ($8.72M), Japan ($2.85M), Indonesia ($2.75M), United Arab Emirates ($2.66M), and Saudi Arabia ($2.23M).

In 2022, South Korea imported $5.8M in Safes, mainly from China ($4.66M), Germany ($342k), Italy ($205k), Denmark ($118k), and Vietnam ($105k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Safes EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Indonesia$879k (46.9%)
Saudi Arabia$732k (48.9%)
Malaysia$670k (110%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Safes BY South Korea WERE (2021 - 2022):
Egypt-$1.63M (-78.4%)
United States-$1.1M (-11.2%)
Nigeria-$620k (-38%)
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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 Safes were:
China $647M
Mexico $112M
Netherlands $70.9M
In 2022, South Korea's main importing competitors in Safes were:
United States $440M
Germany $150M
France $64.5M

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Trade Value of Safes by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.11M
TOP IMPORT POTENTIALChina+ $1.67M

Safes’s highest export potential is United States. With an export gap of $2.11M.   Safes’s highest import potential is China with an import gap of $1.67M.

See methodology.

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