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2023
Exports $482MWorld Rnk 11 / 151
Flag Rnk 152 / 1188
2023
Destination $19.4M Thailand
2022 - 2023
FASTEST GROWING MARKET $19.4MIndonesia
2023
PRODUCT COMPLEXITY IN Buses0.24Rnk 481 / 1025
2023
Imports $233MWorld Rnk 24 / 212
Flag Rnk 279 / 1208
2023
Origin $95.4M China
2022 - 2023
FASTEST GROWING ORIGIN $95.4MChina
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $482M in Buses, making it the 11th largest exporter of Buses in the world. At the same year, Buses was the 152nd most exported product in South Korea. The main destination of Buses exports from South Korea are: Thailand ($99.3M), Malaysia ($49.4M), United Arab Emirates ($40.4M), Indonesia ($33.2M), and Cambodia ($31.4M).

The fastest growing export markets for Buses of South Korea between 2022 and 2023 were Indonesia ($19.4M), United Arab Emirates ($16M), and Philippines ($15M).

Imports In 2023, South Korea imported $233M in Buses, becoming the 24th largest importer of Buses in the world. At the same year, Buses was the 279th most imported product in South Korea. South Korea imports Buses primarily from: China ($228M), United Arab Emirates ($1.73M), United States ($1.35M), Netherlands ($1.1M), and Turkey ($220k).

The fastest growing import markets in Buses for South Korea between 2022 and 2023 were China ($95.4M), Netherlands ($1.1M), and United Arab Emirates ($958k).

COMPANIES In 2024, leading companies such as LG Electronics (3) and Brother Industries (1) were at the forefront of shipping Buses from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Buses exports accounted up to $37.3M and imports accounted up to $48.1M, resulting in a negative trade balance of $10.9M. Between December 2023 and December 2024 the exports of South Korea's   Buses have increased by $13.1M (54.4%) from $24.1M to $37.3M, while imports increased by $31.2M (184%) from $16.9M to $48.1M.

Destinations In December 2024, Buses were exported mostly to Vietnam ($6.55M), Iraq ($4.03M), Argentina ($2.62M), Jordan ($2.61M), and Saudi Arabia ($1.71M), and were imported mostly from China ($46M), Germany ($2.15M), Burundi ($0), Burkina Faso ($0), and Cote d'Ivoire ($0).

Growth In December 2024, the increase in Buses's year-by-year exports was explained primarily by an increase in exports to Vietnam ($4.14M or 235%), Malaysia ($3.41M or 199%), and Dominican Republic ($2.16M or 305%). In December 2024, the increase in Buses's year-by-year imports was explained primarily by an increase in imports from China ($4.19M or 24.4%), Germany ($583k or 259%), and United States ($72k or 288%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$13.1M(54.4%)
IMPORT GROWTH (December 2023 - December 2024)$31.2M(184%)
MAIN DESTINATION (December 2024)Vietnam$6.55M

This section shows Buses'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 Buses over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$482M
IMPORTS (2023)$233M
NET TRADE (2023)$249M

In 2023, South Korea exported $482M in Buses. The main destinations of South Korea exports on Buses were Thailand ($99.3M), Malaysia ($49.4M), United Arab Emirates ($40.4M), Indonesia ($33.2M), and Cambodia ($31.4M).

In 2023, South Korea imported $233M in Buses, mainly from China ($228M), United Arab Emirates ($1.73M), United States ($1.35M), Netherlands ($1.1M), and Turkey ($220k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Buses EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Indonesia$19.4M (140%)
United Arab Emirates$16M (65.5%)
Philippines$15M (99.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Buses BY South Korea WERE (2022 - 2023):
Thailand-$38.2M (-27.8%)
Russia-$33.4M (-100%)
Vietnam-$22M (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Buses were:
China $3.94B
Turkey $2.49B
Japan $2.3B
In 2023, South Korea's main importing competitors in Buses were:
Germany $1.37B
Italy $1.34B
United States $1.17B

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Trade Value of Buses by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALPhilippines+ $3.61M
TOP IMPORT POTENTIALChina+ $3.39M

Buses’s highest export potential is Philippines. With an export gap of $3.61M.   Buses’s highest import potential is China with an import gap of $3.39M.

See methodology.

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