Special purpose motor vehicles in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $144M in Special purpose motor vehicles, making it the 14th largest exporter of Special purpose motor vehicles in the world. At the same year, Special purpose motor vehicles was the 328th most exported product in South Korea. The main destination of Special purpose motor vehicles exports from South Korea are: Russia ($24.8M), Philippines ($21M), Saudi Arabia ($16.8M), Kuwait ($12.4M), and Vietnam ($11.7M).

The fastest growing export markets for Special purpose motor vehicles of South Korea between 2021 and 2022 were Russia ($10.4M), Kuwait ($10.3M), and United Arab Emirates ($6.39M).

Imports In 2022, South Korea imported $77.7M in Special purpose motor vehicles, becoming the 43rd largest importer of Special purpose motor vehicles in the world. At the same year, Special purpose motor vehicles was the 565th most imported product in South Korea. South Korea imports Special purpose motor vehicles primarily from: Germany ($51.3M), United States ($9.72M), Austria ($3.29M), Italy ($1.99M), and China ($1.84M).

The fastest growing import markets in Special purpose motor vehicles for South Korea between 2021 and 2022 were Thailand ($1.64M), Saudi Arabia ($988k), and Croatia ($862k).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (3.03k) and VICTAULIC COMPANY (60) were at the forefront of shipping Special purpose motor vehicles from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Special purpose motor vehicles exports accounted up to $5.18M and imports accounted up to $22M, resulting in a negative trade balance of $16.9M. Between February 2023 and February 2024 the exports of South Korea's Special purpose motor vehicles have decreased by $-6.41M (-55.3%) from $11.6M to $5.18M, while imports increased by $17.1M (346%) from $4.94M to $22M.

Destinations In February 2024, Special purpose motor vehicles were exported mostly to Iraq ($1.12M), Kuwait ($801k), Saudi Arabia ($561k), Bangladesh ($539k), and Nigeria ($537k), and were imported mostly from Germany ($16.6M), Netherlands ($2.29M), Austria ($1.53M), Thailand ($771k), and United States ($753k).

Growth In February 2024, the decrease in Special purpose motor vehicles's year-by-year exports was explained primarily by a decrease in exports to Japan ($-179k or -20%), India ($-76k or -80%), and Cambodia ($-72k or -58.5%). In February 2024, the increase in Special purpose motor vehicles's year-by-year imports was explained primarily by an increase in imports from China ($254k or 3.18k%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-6.41M(-55.3%)

IMPORT GROWTH (February 2023 - February 2024)$17.1M(346%)

MAIN DESTINATION (February 2024)Iraq$1.12M

This section shows Special purpose motor vehicles'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 Special purpose motor vehicles over time.

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