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2022
Exports $46.5MWorld Rnk 10 / 167
Flag Rnk 505 / 1204
2022
Destination $2.54M United States
2021 - 2022
FASTEST GROWING MARKET $2.54MUnited States
2022
PRODUCT COMPLEXITY IN Electric Musical Instruments0.55Rnk 344 / 1025
2022
Imports $74.7MWorld Rnk 11 / 210
Flag Rnk 573 / 1213
2022
Origin $7.18M China
2021 - 2022
FASTEST GROWING ORIGIN $7.18MIndonesia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $46.5M in Electric Musical Instruments, making it the 10th largest exporter of Electric Musical Instruments in the world. At the same year, Electric Musical Instruments was the 505th most exported product in South Korea. The main destination of Electric Musical Instruments exports from South Korea are: United States ($26.9M), Germany ($5.17M), United Kingdom ($1.78M), Japan ($1.17M), and Canada ($928k).

The fastest growing export markets for Electric Musical Instruments of South Korea between 2021 and 2022 were United States ($2.54M), Germany ($722k), and Canada ($472k).

Imports In 2022, South Korea imported $74.7M in Electric Musical Instruments, becoming the 11th largest importer of Electric Musical Instruments in the world. At the same year, Electric Musical Instruments was the 573rd most imported product in South Korea. South Korea imports Electric Musical Instruments primarily from: China ($29.8M), Indonesia ($23M), United States ($7.25M), Malaysia ($7.25M), and Japan ($3.2M).

The fastest growing import markets in Electric Musical Instruments for South Korea between 2021 and 2022 were Indonesia ($7.18M), United States ($2.65M), and Malaysia ($929k).

COMPANIES In 2023, leading companies such as YAMAHA CORPORATION OF AMERICA (8) were at the forefront of shipping Electric Musical Instruments from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Electric Musical Instruments exports accounted up to $3.45M and imports accounted up to $6.2M, resulting in a negative trade balance of $2.75M. Between July 2023 and July 2024 the exports of South Korea's   Electric Musical Instruments have decreased by $-225k (-6.12%) from $3.68M to $3.45M, while imports increased by $950k (18.1%) from $5.25M to $6.2M.

Destinations In July 2024, Electric Musical Instruments were exported mostly to United States ($2.01M), Germany ($1.09M), Russia ($74k), Netherlands ($69k), and United Kingdom ($65k), and were imported mostly from China ($2.35M), Indonesia ($1.71M), United States ($850k), Japan ($513k), and Malaysia ($257k).

Growth In July 2024, the decrease in Electric Musical Instruments's year-by-year exports was explained primarily by a decrease in exports to United States ($-947k or -32.7%), Slovakia ($-107k or -59.8%), and Chile ($-91k or -79.1%). In July 2024, the increase in Electric Musical Instruments's year-by-year imports was explained primarily by an increase in imports from Indonesia ($948k or 68.9%), Japan ($350k or 162%), and United States ($263k or 46%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-225k(-6.12%)
IMPORT GROWTH (July 2023 - July 2024)$950k(18.1%)
MAIN DESTINATION (July 2024)United States$2.01M

This section shows Electric Musical Instruments'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 Musical Instruments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$46.5M
IMPORTS (2022)$74.7M
NET TRADE (2022)-$28.2M

In 2022, South Korea exported $46.5M in Electric Musical Instruments. The main destinations of South Korea exports on Electric Musical Instruments were United States ($26.9M), Germany ($5.17M), United Kingdom ($1.78M), Japan ($1.17M), and Canada ($928k).

In 2022, South Korea imported $74.7M in Electric Musical Instruments, mainly from China ($29.8M), Indonesia ($23M), United States ($7.25M), Malaysia ($7.25M), and Japan ($3.2M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electric Musical Instruments EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$2.54M (10.4%)
Germany$722k (16.2%)
Canada$472k (103%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Musical Instruments BY South Korea WERE (2021 - 2022):
Netherlands-$536k (-36.8%)
Slovakia-$462k (-59.3%)
Ukraine-$371k (-87.3%)
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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 Electric Musical Instruments were:
China $1.03B
Indonesia $664M
Germany $306M
In 2022, South Korea's main importing competitors in Electric Musical Instruments were:
United States $726M
Germany $398M
Japan $210M

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Trade Value of Electric Musical Instruments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $1.1M
TOP IMPORT POTENTIALChina+ $7.26M

Electric Musical Instruments’s highest export potential is Germany. With an export gap of $1.1M.   Electric Musical Instruments’s highest import potential is China with an import gap of $7.26M.

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