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2022
Exports $28.8MWorld Rnk 26 / 180
Flag Rnk 583 / 1204
2022
Destination $3.32M United States
2021 - 2022
FASTEST GROWING MARKET $3.32MUnited States
2022
PRODUCT COMPLEXITY IN Tufted Carpets0.096Rnk 524 / 1025
2022
Imports $57.4MWorld Rnk 29 / 215
Flag Rnk 640 / 1213
2022
Origin $6.68M China
2021 - 2022
FASTEST GROWING ORIGIN $6.68MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $28.8M in Tufted Carpets, making it the 26th largest exporter of Tufted Carpets in the world. At the same year, Tufted Carpets was the 583rd most exported product in South Korea. The main destination of Tufted Carpets exports from South Korea are: United States ($20.3M), Canada ($1.56M), Slovakia ($1.36M), Pakistan ($1.11M), and China ($639k).

The fastest growing export markets for Tufted Carpets of South Korea between 2021 and 2022 were United States ($3.32M), Canada ($805k), and Pakistan ($178k).

Imports In 2022, South Korea imported $57.4M in Tufted Carpets, becoming the 29th largest importer of Tufted Carpets in the world. At the same year, Tufted Carpets was the 640th most imported product in South Korea. South Korea imports Tufted Carpets primarily from: China ($40.7M), United States ($4.24M), India ($2.29M), Vietnam ($1.84M), and Belgium ($1.36M).

The fastest growing import markets in Tufted Carpets for South Korea between 2021 and 2022 were China ($6.68M), United States ($1.13M), and Poland ($719k).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Tufted Carpets exports accounted up to $6.25M and imports accounted up to $6.42M, resulting in a negative trade balance of $173k. Between July 2023 and July 2024 the exports of South Korea's   Tufted Carpets have increased by $3.56M (133%) from $2.69M to $6.25M, while imports increased by $1.98M (44.6%) from $4.44M to $6.42M.

Destinations In July 2024, Tufted Carpets were exported mostly to United States ($5.88M), Philippines ($114k), Pakistan ($105k), China ($41k), and United Arab Emirates ($34k), and were imported mostly from China ($4.42M), Netherlands ($405k), Vietnam ($363k), Australia ($325k), and United States ($224k).

Growth In July 2024, the increase in Tufted Carpets's year-by-year exports was explained primarily by an increase in exports to United States ($764k or 75.2%), Japan ($87k or 249%), and Australia ($3k or 4.76%). In July 2024, the increase in Tufted Carpets's year-by-year imports was explained primarily by an increase in imports from Vietnam ($104k or 155%), Portugal ($22k or 61.1%), and Turkey ($19k or 950%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$3.56M(133%)
IMPORT GROWTH (July 2023 - July 2024)$1.98M(44.6%)
MAIN DESTINATION (July 2024)United States$5.88M

This section shows Tufted Carpets'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 Tufted Carpets over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$28.8M
IMPORTS (2022)$57.4M
NET TRADE (2022)-$28.6M

In 2022, South Korea exported $28.8M in Tufted Carpets. The main destinations of South Korea exports on Tufted Carpets were United States ($20.3M), Canada ($1.56M), Slovakia ($1.36M), Pakistan ($1.11M), and China ($639k).

In 2022, South Korea imported $57.4M in Tufted Carpets, mainly from China ($40.7M), United States ($4.24M), India ($2.29M), Vietnam ($1.84M), and Belgium ($1.36M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Tufted Carpets EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$3.32M (19.6%)
Canada$805k (107%)
Pakistan$178k (19.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Tufted Carpets BY South Korea WERE (2021 - 2022):
Saudi Arabia-$1.45M (-100%)
Mexico-$628k (-60.6%)
Japan-$478k (-62.5%)
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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 Tufted Carpets were:
China $1.51B
Netherlands $933M
Belgium $844M
In 2022, South Korea's main importing competitors in Tufted Carpets were:
United States $1.05B
United Kingdom $793M
Germany $526M

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Trade Value of Tufted Carpets by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALCanada+ $711k
TOP IMPORT POTENTIALChina+ $6.37M

Tufted Carpets’s highest export potential is Canada. With an export gap of $711k.   Tufted Carpets’s highest import potential is China with an import gap of $6.37M.

See methodology.

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