Tractors in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $1.3B in Tractors, making it the 18th largest exporter of Tractors in the world. At the same year, Tractors was the 83rd most exported product in South Korea. The main destination of Tractors exports from South Korea are: United States ($1.01B), Canada ($50.8M), Australia ($41.7M), Netherlands ($19.3M), and Germany ($14.9M).

The fastest growing export markets for Tractors of South Korea between 2021 and 2022 were United States ($223M), Saudi Arabia ($8.38M), and Belgium ($8.01M).

Imports In 2022, South Korea imported $408M in Tractors, becoming the 34th largest importer of Tractors in the world. At the same year, Tractors was the 221st most imported product in South Korea. South Korea imports Tractors primarily from: Germany ($110M), Japan ($70M), Sweden ($68.6M), France ($50.5M), and Spain ($34.7M).

The fastest growing import markets in Tractors for South Korea between 2021 and 2022 were Spain ($20.5M), Germany ($19.9M), and France ($16M).

COMPANIES In 2023, leading companies such as CNH INDUSTRIAL AMERICA LLC (4.28k) and LG ELECTRONICS U.S.A. INC. (178) were at the forefront of shipping Tractors from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Tractors exports accounted up to $84.3M and imports accounted up to $31.4M, resulting in a positive trade balance of $52.9M. Between February 2023 and February 2024 the exports of South Korea's Tractors have decreased by $-8.97M (-9.62%) from $93.2M to $84.3M, while imports decreased by $-17.3M (-35.6%) from $48.7M to $31.4M.

Destinations In February 2024, Tractors were exported mostly to United States ($59.5M), Canada ($6.87M), Netherlands ($4.16M), Philippines ($2.1M), and Mexico ($1.36M), and were imported mostly from Germany ($10M), France ($7.36M), Japan ($6.57M), Sweden ($2.12M), and Netherlands ($2.08M).

Growth In February 2024, the decrease in Tractors's year-by-year exports was explained primarily by a decrease in exports to United States ($-32.7M or -32.9%), Canada ($-3.64M or -45.8%), and Germany ($-1.57M or -54.4%). In February 2024, the decrease in Tractors's year-by-year imports was explained primarily by a decrease in imports from Netherlands ($-3.07M or -80.5%), Sweden ($-1.61M or -31.6%), and China ($-1.51M or -100%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-8.97M(-9.62%)

IMPORT GROWTH (February 2023 - February 2024)$-17.3M(-35.6%)

MAIN DESTINATION (February 2024)United States$59.5M

This section shows Tractors'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 Tractors over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$1.3B

IMPORTS (2022)$408M

NET TRADE (2022)$889M

In 2022, South Korea exported $1.3B in Tractors. The main destinations of South Korea exports on Tractors were United States ($1.01B), Canada ($50.8M), Australia ($41.7M), Netherlands ($19.3M), and Germany ($14.9M).

In 2022, South Korea imported $408M in Tractors, mainly from Germany ($110M), Japan ($70M), Sweden ($68.6M), France ($50.5M), and Spain ($34.7M).

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