Cranes in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $259M in Cranes, making it the 13th largest exporter of Cranes in the world. At the same year, Cranes was the 238th most exported product in South Korea. The main destination of Cranes exports from South Korea are: Russia ($79.5M), Saudi Arabia ($45.2M), Vietnam ($44.9M), Chinese Taipei ($11.7M), and Brazil ($10.6M).

The fastest growing export markets for Cranes of South Korea between 2021 and 2022 were Vietnam ($33.5M), Russia ($20M), and Saudi Arabia ($17M).

Imports In 2022, South Korea imported $369M in Cranes, becoming the 13th largest importer of Cranes in the world. At the same year, Cranes was the 236th most imported product in South Korea. South Korea imports Cranes primarily from: China ($195M), Japan ($86.4M), Netherlands ($26.8M), Germany ($12.6M), and Singapore ($11.8M).

The fastest growing import markets in Cranes for South Korea between 2021 and 2022 were Singapore ($10M), Netherlands ($6.5M), and Thailand ($2.96M).

COMPANIES In 2023, leading companies such as Hankook Tires (1.1k), Nexen Tire (928), and Yokohama Industries (116) were at the forefront of shipping Cranes from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Cranes exports accounted up to $8.16M and imports accounted up to $70.4M, resulting in a negative trade balance of $62.2M. Between September 2023 and September 2024 the exports of South Korea's Cranes have decreased by $-38.6M (-82.6%) from $46.7M to $8.16M, while imports increased by $49.1M (232%) from $21.2M to $70.4M.

Destinations In September 2024, Cranes were exported mostly to Saudi Arabia ($1.07M), United Arab Emirates ($1.02M), China ($916k), Vietnam ($865k), and Finland ($760k), and were imported mostly from Germany ($37.5M), Denmark ($17M), Japan ($8.57M), Netherlands ($4.4M), and China ($2.5M).

Growth In September 2024, the decrease in Cranes's year-by-year exports was explained primarily by a decrease in exports to Japan ($-5.14M or -97%), Chinese Taipei ($-644k or -42.6%), and Qatar ($-449k or -98.9%). In September 2024, the increase in Cranes's year-by-year imports was explained primarily by an increase in imports from Germany ($423k or 42.3k%), Vietnam ($70k or 159%), and United Kingdom ($12k or 600%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (September 2023 - September 2024)$-38.6M(-82.6%)

IMPORT GROWTH (September 2023 - September 2024)$49.1M(232%)

MAIN DESTINATION (September 2024)Saudi Arabia$1.07M

This section shows Cranes'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 Cranes over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$259M

IMPORTS (2022)$369M

NET TRADE (2022)-$110M

In 2022, South Korea exported $259M in Cranes. The main destinations of South Korea exports on Cranes were Russia ($79.5M), Saudi Arabia ($45.2M), Vietnam ($44.9M), Chinese Taipei ($11.7M), and Brazil ($10.6M).

In 2022, South Korea imported $369M in Cranes, mainly from China ($195M), Japan ($86.4M), Netherlands ($26.8M), Germany ($12.6M), and Singapore ($11.8M).

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