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2022
Exports $6.99MWorld Rnk 24 / 159
Flag Rnk 783 / 1204
2022
Destination $529k Vietnam
2021 - 2022
FASTEST GROWING MARKET $529kUnited States
2022
PRODUCT COMPLEXITY IN Watch Straps-0.095Rnk 579 / 1025
2022
Imports $30.7MWorld Rnk 14 / 197
Flag Rnk 764 / 1213
2022
Origin $828k China
2021 - 2022
FASTEST GROWING ORIGIN $828kSwitzerland
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $6.99M in Watch Straps, making it the 24th largest exporter of Watch Straps in the world. At the same year, Watch Straps was the 783rd most exported product in South Korea. The main destination of Watch Straps exports from South Korea are: Vietnam ($2.57M), United States ($1.13M), Netherlands ($621k), Switzerland ($572k), and Japan ($403k).

The fastest growing export markets for Watch Straps of South Korea between 2021 and 2022 were United States ($529k), Japan ($313k), and Austria ($102k).

Imports In 2022, South Korea imported $30.7M in Watch Straps, becoming the 14th largest importer of Watch Straps in the world. At the same year, Watch Straps was the 764th most imported product in South Korea. South Korea imports Watch Straps primarily from: China ($15.7M), Switzerland ($7.63M), Vietnam ($2.44M), France ($2.36M), and Austria ($791k).

The fastest growing import markets in Watch Straps for South Korea between 2021 and 2022 were Switzerland ($828k), France ($473k), and Netherlands ($62.7k).

COMPANIES In 2023, leading companies such as Tesla (2) were at the forefront of shipping Watch Straps from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Watch Straps exports accounted up to $452k and imports accounted up to $1.89M, resulting in a negative trade balance of $1.44M. Between September 2023 and September 2024 the exports of South Korea's   Watch Straps have increased by $276k (157%) from $176k to $452k, while imports decreased by $-259k (-12.1%) from $2.15M to $1.89M.

Destinations In September 2024, Watch Straps were exported mostly to Thailand ($408k), Vietnam ($8k), Switzerland ($7k), Hong Kong ($5k), and France ($5k), and were imported mostly from China ($1.07M), Switzerland ($342k), France ($177k), Italy ($85k), and Austria ($58k).

Growth In September 2024, the increase in Watch Straps's year-by-year exports was explained primarily by an increase in exports to United States ($61k or 763%), Hong Kong ($17k or 113%), and Switzerland ($17k or 425%). In September 2024, the decrease in Watch Straps's year-by-year imports was explained primarily by a decrease in imports from Vietnam ($-474k or -97.3%), France ($-122k or -40.5%), and China ($-79k or -4.92%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$276k(157%)
IMPORT GROWTH (September 2023 - September 2024)$-259k(-12.1%)
MAIN DESTINATION (September 2024)Thailand$408k

This section shows Watch Straps'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 Watch Straps over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$6.99M
IMPORTS (2022)$30.7M
NET TRADE (2022)-$23.7M

In 2022, South Korea exported $6.99M in Watch Straps. The main destinations of South Korea exports on Watch Straps were Vietnam ($2.57M), United States ($1.13M), Netherlands ($621k), Switzerland ($572k), and Japan ($403k).

In 2022, South Korea imported $30.7M in Watch Straps, mainly from China ($15.7M), Switzerland ($7.63M), Vietnam ($2.44M), France ($2.36M), and Austria ($791k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Watch Straps EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$529k (88.4%)
Japan$313k (350%)
Austria$102k (10.6k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Watch Straps BY South Korea WERE (2021 - 2022):
Vietnam-$5.24M (-67.1%)
Hong Kong-$1.05M (-77.5%)
Switzerland-$368k (-39.2%)
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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 Watch Straps were:
China $932M
France $342M
Switzerland $337M
In 2022, South Korea's main importing competitors in Watch Straps were:
Switzerland $677M
Hong Kong $296M
China $146M

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Trade Value of Watch Straps by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $446k
TOP IMPORT POTENTIALChina+ $4.58M

Watch Straps’s highest export potential is United States. With an export gap of $446k.   Watch Straps’s highest import potential is China with an import gap of $4.58M.

See methodology.

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