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2022
Exports $24.5MWorld Rnk 5 / 92
Flag Rnk 611 / 1204
2022
Destination $15.3M Brazil
2021 - 2022
FASTEST GROWING MARKET $15.3MBrazil
2022
PRODUCT COMPLEXITY IN Artificial Textile Machinery1.99Rnk 5 / 1025
2022
Imports $10.6MWorld Rnk 17 / 168
Flag Rnk 934 / 1213
2022
Origin $5.45M China
2021 - 2022
FASTEST GROWING ORIGIN $5.45MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $24.5M in Artificial Textile Machinery, making it the 5th largest exporter of Artificial Textile Machinery in the world. At the same year, Artificial Textile Machinery was the 611th most exported product in South Korea. The main destination of Artificial Textile Machinery exports from South Korea are: Brazil ($15.8M), Vietnam ($5.28M), Angola ($609k), Thailand ($600k), and Mexico ($520k).

The fastest growing export markets for Artificial Textile Machinery of South Korea between 2021 and 2022 were Brazil ($15.3M), Vietnam ($1.79M), and Angola ($605k).

Imports In 2022, South Korea imported $10.6M in Artificial Textile Machinery, becoming the 17th largest importer of Artificial Textile Machinery in the world. At the same year, Artificial Textile Machinery was the 934th most imported product in South Korea. South Korea imports Artificial Textile Machinery primarily from: China ($7.91M), Germany ($1.16M), Japan ($879k), Switzerland ($315k), and Netherlands ($121k).

The fastest growing import markets in Artificial Textile Machinery for South Korea between 2021 and 2022 were China ($5.45M), Germany ($1.15M), and Switzerland ($315k).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Artificial Textile Machinery exports accounted up to $4.43M and imports accounted up to $275k, resulting in a positive trade balance of $4.15M. Between October 2023 and October 2024 the exports of South Korea's   Artificial Textile Machinery have increased by $2.7M (156%) from $1.73M to $4.43M, while imports increased by $204k (287%) from $71k to $275k.

Destinations In October 2024, Artificial Textile Machinery were exported mostly to Spain ($3.98M), China ($276k), Vietnam ($119k), Indonesia ($23k), and United Kingdom ($11k), and were imported mostly from China ($275k), Senegal ($0), Indonesia ($0), Vietnam ($0), and Spain ($0).

Growth In October 2024, the increase in Artificial Textile Machinery's year-by-year exports was explained primarily by an increase in exports to . In October 2024, the increase in Artificial Textile Machinery's year-by-year imports was explained primarily by an increase in imports from China ($27k or 675%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$2.7M(156%)
IMPORT GROWTH (October 2023 - October 2024)$204k(287%)
MAIN DESTINATION (October 2024)Spain$3.98M

This section shows Artificial Textile Machinery'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 Artificial Textile Machinery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$24.5M
IMPORTS (2022)$10.6M
NET TRADE (2022)$13.9M

In 2022, South Korea exported $24.5M in Artificial Textile Machinery. The main destinations of South Korea exports on Artificial Textile Machinery were Brazil ($15.8M), Vietnam ($5.28M), Angola ($609k), Thailand ($600k), and Mexico ($520k).

In 2022, South Korea imported $10.6M in Artificial Textile Machinery, mainly from China ($7.91M), Germany ($1.16M), Japan ($879k), Switzerland ($315k), and Netherlands ($121k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Artificial Textile Machinery EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Brazil$15.3M (2.83k%)
Vietnam$1.79M (51.1%)
Angola$605k (15.1k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Artificial Textile Machinery BY South Korea WERE (2021 - 2022):
South Africa-$1.37M (-87.5%)
United States-$1.26M (-95.2%)
Turkey-$1.2M (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, South Korea's main exporting competitors in Artificial Textile Machinery were:
Germany $678M
China $325M
Japan $159M
In 2022, South Korea's main importing competitors in Artificial Textile Machinery were:
China $489M
Turkey $190M
India $161M

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Trade Value of Artificial Textile Machinery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $359k
TOP IMPORT POTENTIALChina+ $997k

Artificial Textile Machinery’s highest export potential is China. With an export gap of $359k.   Artificial Textile Machinery’s highest import potential is China with an import gap of $997k.

See methodology.

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