Work Trucks in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $26.4M in Work Trucks, making it the 14th largest exporter of Work Trucks in the world. At the same year, Work Trucks was the 597th most exported product in South Korea. The main destination of Work Trucks exports from South Korea are: United States ($10.2M), Japan ($3.35M), Philippines ($3.03M), France ($2.23M), and Canada ($1.43M).

The fastest growing export markets for Work Trucks of South Korea between 2021 and 2022 were Japan ($3.24M), Philippines ($2.28M), and France ($2.15M).

Imports In 2022, South Korea imported $38.5M in Work Trucks, becoming the 10th largest importer of Work Trucks in the world. At the same year, Work Trucks was the 727th most imported product in South Korea. South Korea imports Work Trucks primarily from: Germany ($14.6M), China ($6.82M), United States ($5.36M), Malaysia ($3.73M), and Italy ($3.65M).

The fastest growing import markets in Work Trucks for South Korea between 2021 and 2022 were Germany ($8.11M), China ($3.19M), and Italy ($2.2M).

COMPANIES In 2023, leading companies such as were at the forefront of shipping Work Trucks from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Work Trucks exports accounted up to $2.07M and imports accounted up to $4.98M, resulting in a negative trade balance of $2.9M. Between February 2023 and February 2024 the exports of South Korea's Work Trucks have increased by $669k (47.7%) from $1.4M to $2.07M, while imports decreased by $-7.68M (-60.7%) from $12.7M to $4.98M.

Destinations In February 2024, Work Trucks were exported mostly to United States ($1.7M), Samoa ($116k), Guam ($101k), Mexico ($72k), and Japan ($50k), and were imported mostly from Italy ($1.99M), Netherlands ($1.45M), Germany ($889k), China ($502k), and United States ($128k).

Growth In February 2024, the increase in Work Trucks's year-by-year exports was explained primarily by an increase in exports to Canada ($121k or 198%), Germany ($30k or 107%), and Chinese Taipei ($29k or 322%). In February 2024, the decrease in Work Trucks's year-by-year imports was explained primarily by a decrease in imports from China ($-1.66M or -80.8%) and Mexico ($-2k or -100%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$669k(47.7%)

IMPORT GROWTH (February 2023 - February 2024)$-7.68M(-60.7%)

MAIN DESTINATION (February 2024)United States$1.7M

This section shows Work Trucks'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 Work Trucks over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$26.4M

IMPORTS (2022)$38.5M

NET TRADE (2022)-$12M

In 2022, South Korea exported $26.4M in Work Trucks. The main destinations of South Korea exports on Work Trucks were United States ($10.2M), Japan ($3.35M), Philippines ($3.03M), France ($2.23M), and Canada ($1.43M).

In 2022, South Korea imported $38.5M in Work Trucks, mainly from Germany ($14.6M), China ($6.82M), United States ($5.36M), Malaysia ($3.73M), and Italy ($3.65M).

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