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2023
Exports $378MWorld Rnk 19 / 188
Flag Rnk 177 / 1188
2023
Destination $12.2M Mexico
2022 - 2023
FASTEST GROWING MARKET $12.2MArgentina
2023
PRODUCT COMPLEXITY IN Electric Motor Parts0.72Rnk 276 / 1025
2023
Imports $395MWorld Rnk 16 / 219
Flag Rnk 202 / 1208
2023
Origin $20.3M China
2022 - 2023
FASTEST GROWING ORIGIN $20.3MUnited States
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $378M in Electric Motor Parts, making it the 19th largest exporter of Electric Motor Parts in the world. At the same year, Electric Motor Parts was the 177th most exported product in South Korea. The main destination of Electric Motor Parts exports from South Korea are: Mexico ($126M), China ($88.3M), United States ($24.1M), Japan ($22.8M), and Poland ($21.4M).

The fastest growing export markets for Electric Motor Parts of South Korea between 2022 and 2023 were Argentina ($12.2M), Poland ($3.6M), and Netherlands ($3M).

Imports In 2023, South Korea imported $395M in Electric Motor Parts, becoming the 16th largest importer of Electric Motor Parts in the world. At the same year, Electric Motor Parts was the 202nd most imported product in South Korea. South Korea imports Electric Motor Parts primarily from: China ($203M), United States ($64.6M), Germany ($41.5M), Finland ($17.6M), and Japan ($14.4M).

The fastest growing import markets in Electric Motor Parts for South Korea between 2022 and 2023 were United States ($20.3M), Germany ($14.5M), and India ($5.25M).

COMPANIES In 2024, leading companies such as Haas Automation (16), Vestas (9), and Robert Bosch (1) were at the forefront of shipping Electric Motor Parts from South Korea to the United States.

Latest Trends

January 2025

About

Overview In January 2025 South Korea's Electric Motor Parts exports accounted up to $38.2M and imports accounted up to $50.5M, resulting in a negative trade balance of $12.3M. Between January 2024 and January 2025 the exports of South Korea's   Electric Motor Parts have increased by $1.25M (3.37%) from $37M to $38.2M, while imports increased by $6.15M (13.9%) from $44.4M to $50.5M.

Destinations In January 2025, Electric Motor Parts were exported mostly to Vietnam ($6.89M), China ($6.72M), Mexico ($6.18M), Netherlands ($4.99M), and Portugal ($3.11M), and were imported mostly from China ($32M), Netherlands ($4.67M), United States ($3.49M), Vietnam ($3.06M), and Germany ($2.33M).

Growth In January 2025, the increase in Electric Motor Parts's year-by-year exports was explained primarily by an increase in exports to Vietnam ($3.16M or 43.1%), China ($1.75M or 30.3%), and Poland ($1.42M or 207%). In January 2025, the increase in Electric Motor Parts's year-by-year imports was explained primarily by an increase in imports from China ($11.8M or 70.4%), Finland ($1.12M or 112k%), and India ($1.02M or 195%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (January 2024 - January 2025)$1.25M(3.37%)
IMPORT GROWTH (January 2024 - January 2025)$6.15M(13.9%)
MAIN DESTINATION (January 2025)Vietnam$6.89M

This section shows Electric Motor Parts'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 Electric Motor Parts over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$378M
IMPORTS (2023)$395M
NET TRADE (2023)-$16.6M

In 2023, South Korea exported $378M in Electric Motor Parts. The main destinations of South Korea exports on Electric Motor Parts were Mexico ($126M), China ($88.3M), United States ($24.1M), Japan ($22.8M), and Poland ($21.4M).

In 2023, South Korea imported $395M in Electric Motor Parts, mainly from China ($203M), United States ($64.6M), Germany ($41.5M), Finland ($17.6M), and Japan ($14.4M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Electric Motor Parts EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Argentina$12.2M (149k%)
Poland$3.6M (20.2%)
Netherlands$3M (213%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Motor Parts BY South Korea WERE (2022 - 2023):
Vietnam-$59.5M (-100%)
China-$14M (-13.7%)
Mexico-$13.7M (-9.78%)
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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 Electric Motor Parts were:
China $6.05B
Germany $2.67B
Japan $1.75B
In 2023, South Korea's main importing competitors in Electric Motor Parts were:
Germany $4.04B
United States $3.28B
France $1.37B

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Trade Value of Electric Motor Parts by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $21.7M
TOP IMPORT POTENTIALChina+ $50.5M

Electric Motor Parts’s highest export potential is United States. With an export gap of $21.7M.   Electric Motor Parts’s highest import potential is China with an import gap of $50.5M.

See methodology.

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