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2022
Exports $51.8MWorld Rnk 17 / 172
Flag Rnk 480 / 1204
2022
Destination $1.53M Indonesia
2021 - 2022
FASTEST GROWING MARKET $1.53MBangladesh
2022
PRODUCT COMPLEXITY IN Sewing Machines0.71Rnk 275 / 1025
2022
Imports $39.3MWorld Rnk 37 / 214
Flag Rnk 721 / 1213
2022
Origin $324k China
2021 - 2022
FASTEST GROWING ORIGIN $324kJapan
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $51.8M in Sewing Machines, making it the 17th largest exporter of Sewing Machines in the world. At the same year, Sewing Machines was the 480th most exported product in South Korea. The main destination of Sewing Machines exports from South Korea are: Indonesia ($14.6M), Vietnam ($7.85M), Bangladesh ($6.45M), United Arab Emirates ($2.63M), and Nicaragua ($1.97M).

The fastest growing export markets for Sewing Machines of South Korea between 2021 and 2022 were Bangladesh ($1.53M), Mexico ($513k), and Hong Kong ($457k).

Imports In 2022, South Korea imported $39.3M in Sewing Machines, becoming the 37th largest importer of Sewing Machines in the world. At the same year, Sewing Machines was the 721st most imported product in South Korea. South Korea imports Sewing Machines primarily from: China ($26.8M), Vietnam ($5.14M), Japan ($2.86M), Chinese Taipei ($2.41M), and Germany ($345k).

The fastest growing import markets in Sewing Machines for South Korea between 2021 and 2022 were Japan ($324k), Hong Kong ($134k), and Vietnam ($132k).

COMPANIES In 2023, leading companies such as LG Electronics (68), Samsung (19), and Brother Industries (17) were at the forefront of shipping Sewing Machines from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Sewing Machines exports accounted up to $3.29M and imports accounted up to $2.32M, resulting in a positive trade balance of $966k. Between October 2023 and October 2024 the exports of South Korea's   Sewing Machines have increased by $1.11M (50.8%) from $2.18M to $3.29M, while imports increased by $173k (8.06%) from $2.15M to $2.32M.

Destinations In October 2024, Sewing Machines were exported mostly to Indonesia ($844k), India ($324k), United Arab Emirates ($313k), Vietnam ($278k), and Hong Kong ($237k), and were imported mostly from China ($1.65M), Vietnam ($451k), Japan ($123k), Chinese Taipei ($24k), and United States ($17k).

Growth In October 2024, the increase in Sewing Machines's year-by-year exports was explained primarily by an increase in exports to Russia ($39k or 975%) and Burma ($4k or 11.1%). In October 2024, the increase in Sewing Machines's year-by-year imports was explained primarily by an increase in imports from Japan ($146k or 85.9%), Thailand ($41k or 586%), and United States ($15k or 300%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$1.11M(50.8%)
IMPORT GROWTH (October 2023 - October 2024)$173k(8.06%)
MAIN DESTINATION (October 2024)Indonesia$844k

This section shows Sewing Machines'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 Sewing Machines over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$51.8M
IMPORTS (2022)$39.3M
NET TRADE (2022)$12.5M

In 2022, South Korea exported $51.8M in Sewing Machines. The main destinations of South Korea exports on Sewing Machines were Indonesia ($14.6M), Vietnam ($7.85M), Bangladesh ($6.45M), United Arab Emirates ($2.63M), and Nicaragua ($1.97M).

In 2022, South Korea imported $39.3M in Sewing Machines, mainly from China ($26.8M), Vietnam ($5.14M), Japan ($2.86M), Chinese Taipei ($2.41M), and Germany ($345k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Sewing Machines EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Bangladesh$1.53M (31.1%)
Mexico$513k (460%)
Hong Kong$457k (39%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Sewing Machines BY South Korea WERE (2021 - 2022):
Indonesia-$12M (-45.2%)
Vietnam-$1.44M (-15.5%)
Egypt-$890k (-60.4%)
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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 Sewing Machines were:
China $2.5B
Vietnam $557M
Japan $405M
In 2022, South Korea's main importing competitors in Sewing Machines were:
United States $486M
India $376M
Vietnam $351M

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Trade Value of Sewing Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $1.56M
TOP IMPORT POTENTIALChina+ $10.2M

Sewing Machines’s highest export potential is India. With an export gap of $1.56M.   Sewing Machines’s highest import potential is China with an import gap of $10.2M.

See methodology.

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