2022
Exports
$9.98MWorld Rnk 17 / 184
Flag Rnk 728 / 1204
2022
PRODUCT COMPLEXITY IN Tool Sets
0.9Rnk 208 / 1025
2022
Imports
$12.1MWorld Rnk 33 / 218
Flag Rnk 910 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $9.98M in Tool Sets, making it the 17th largest exporter of Tool Sets in the world. At the same year, Tool Sets was the 728th most exported product in South Korea. The main destination of Tool Sets exports from South Korea are: United States ($1.99M), Saudi Arabia ($1.5M), Vietnam ($1.38M), Malaysia ($684k), and Russia ($619k).

The fastest growing export markets for Tool Sets of South Korea between 2021 and 2022 were United States ($1.07M), Malaysia ($579k), and China ($461k).

Imports In 2022, South Korea imported $12.1M in Tool Sets, becoming the 33rd largest importer of Tool Sets in the world. At the same year, Tool Sets was the 910th most imported product in South Korea. South Korea imports Tool Sets primarily from: China ($6.8M), United States ($1.63M), Chinese Taipei ($1.36M), Netherlands ($717k), and Japan ($454k).

The fastest growing import markets in Tool Sets for South Korea between 2021 and 2022 were United States ($153k), Israel ($66.5k), and Chinese Taipei ($58.2k).

Latest Trends

July 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-1.06M(-67.9%)
IMPORT GROWTH (July 2023 - July 2024)$-839k(-47.2%)
MAIN DESTINATION (July 2024)United States$99k

This section shows Tool Sets'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 Tool Sets over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$9.98M
IMPORTS (2022)$12.1M
NET TRADE (2022)-$2.13M

In 2022, South Korea exported $9.98M in Tool Sets. The main destinations of South Korea exports on Tool Sets were United States ($1.99M), Saudi Arabia ($1.5M), Vietnam ($1.38M), Malaysia ($684k), and Russia ($619k).

In 2022, South Korea imported $12.1M in Tool Sets, mainly from China ($6.8M), United States ($1.63M), Chinese Taipei ($1.36M), Netherlands ($717k), and Japan ($454k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Tool Sets EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$1.07M (118%)
Malaysia$579k (552%)
China$461k (390%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Tool Sets BY South Korea WERE (2021 - 2022):
Vietnam-$1.91M (-58.2%)
Slovakia-$1.64M (-100%)
Russia-$1.2M (-66%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Tool Sets were:
In 2022, South Korea's main importing competitors in Tool Sets were:

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Trade Value of Tool Sets by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $293k
TOP IMPORT POTENTIALChina+ $2.49M

Tool Sets’s highest export potential is China. With an export gap of $293k.   Tool Sets’s highest import potential is China with an import gap of $2.49M.

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