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2022
Exports $1.63BWorld Rnk 17 / 211
Flag Rnk 32 / 96
2022
Destination $229M United States
2021 - 2022
FASTEST GROWING MARKET $229MUnited States
2022
PRODUCT COMPLEXITY IN Aircraft and spacecraft0.79Rnk 246 / 1025
2022
Imports $2.84BWorld Rnk 18 / 219
Flag Rnk 30 / 96
2022
Origin $150M United States
2021 - 2022
FASTEST GROWING ORIGIN $150MFrance
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $1.63B in Aircraft and spacecraft, making it the 17th largest exporter of Aircraft and spacecraft in the world. At the same year, Aircraft and spacecraft was the 32nd most exported product in South Korea. The main destination of Aircraft and spacecraft exports from South Korea are: United States ($642M), United Kingdom ($215M), Australia ($182M), France ($66.8M), and China ($64.5M).

The fastest growing export markets for Aircraft and spacecraft of South Korea between 2021 and 2022 were United States ($229M), Australia ($177M), and India ($60.8M).

Imports In 2022, South Korea imported $2.84B in Aircraft and spacecraft, becoming the 18th largest importer of Aircraft and spacecraft in the world. At the same year, Aircraft and spacecraft was the 30th most imported product in South Korea. South Korea imports Aircraft and spacecraft primarily from: United States ($1.69B), Germany ($412M), France ($257M), China ($113M), and Italy ($108M).

The fastest growing import markets in Aircraft and spacecraft for South Korea between 2021 and 2022 were France ($150M), China ($69.4M), and Italy ($56.8M).

COMPANIES In 2023, leading companies such as LG Electronics (93), CNH Industrial (46), and BOEING (20) were at the forefront of shipping Aircraft and spacecraft from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Aircraft and spacecraft exports accounted up to $323M and imports accounted up to $212M, resulting in a positive trade balance of $111M. Between October 2023 and October 2024 the exports of South Korea's   Aircraft and spacecraft have decreased by $-27.1M (-7.75%) from $350M to $323M, while imports decreased by $-324M (-60.5%) from $535M to $212M.

Destinations In October 2024, Aircraft and spacecraft were exported mostly to United States ($252M), United Kingdom ($19.2M), Brazil ($10.3M), China ($9.3M), and France ($6.81M), and were imported mostly from United States ($138M), France ($48.2M), China ($9.33M), United Kingdom ($8.83M), and Germany ($1.66M).

Growth In October 2024, the decrease in Aircraft and spacecraft's year-by-year exports was explained primarily by a decrease in exports to United States ($-15.1M or -26.6%), Italy ($-11.3M or -98.6%), and United Kingdom ($-7.56M or -33.2%). In October 2024, the decrease in Aircraft and spacecraft's year-by-year imports was explained primarily by a decrease in imports from United States ($-393M or -90%), Canada ($-12.2M or -96.2%), and France ($-8.56M or -78.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-27.1M(-7.75%)
IMPORT GROWTH (October 2023 - October 2024)$-324M(-60.5%)
MAIN DESTINATION (October 2024)United States$252M

This section shows Aircraft and spacecraft'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 Aircraft and spacecraft over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.63B
IMPORTS (2022)$2.84B
NET TRADE (2022)-$1.21B

In 2022, South Korea exported $1.63B in Aircraft and spacecraft. The main destinations of South Korea exports on Aircraft and spacecraft were United States ($642M), United Kingdom ($215M), Australia ($182M), France ($66.8M), and China ($64.5M).

In 2022, South Korea imported $2.84B in Aircraft and spacecraft, mainly from United States ($1.69B), Germany ($412M), France ($257M), China ($113M), and Italy ($108M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Aircraft and spacecraft EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$229M (55.5%)
Australia$177M (4.21k%)
India$60.8M (7.71k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Aircraft and spacecraft BY South Korea WERE (2021 - 2022):
Russia-$49.2M (-97.1%)
Indonesia-$23.8M (-87.6%)
Germany-$13.9M (-18.7%)
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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 Aircraft and spacecraft were:
United States $40.3B
France $33.4B
Germany $29.7B
In 2022, South Korea's main importing competitors in Aircraft and spacecraft were:
United States $27.3B
France $13.7B
China $12.1B

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Trade Value of Aircraft and spacecraft by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $33.1M
TOP IMPORT POTENTIALFrance+ $67.6M

Aircraft and spacecraft’s highest export potential is United States. With an export gap of $33.1M.   Aircraft and spacecraft’s highest import potential is France with an import gap of $67.6M.

See methodology.

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