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2022
Exports $217BWorld Rnk 3 / 226
Flag Rnk 1 / 96
2022
Destination $4.54B China
2021 - 2022
FASTEST GROWING MARKET $4.54BChina
2022
PRODUCT COMPLEXITY IN Electrical machinery and electronics1.96Rnk 7 / 1025
2022
Imports $116BWorld Rnk 6 / 226
Flag Rnk 2 / 96
2022
Origin $5.82B China
2021 - 2022
FASTEST GROWING ORIGIN $5.82BChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $217B in Electrical machinery and electronics, making it the 3rd largest exporter of Electrical machinery and electronics in the world. At the same year, Electrical machinery and electronics was the 1st most exported product in South Korea. The main destination of Electrical machinery and electronics exports from South Korea are: China ($71.6B), Vietnam ($36.2B), Hong Kong ($21B), United States ($20.5B), and Chinese Taipei ($15.8B).

The fastest growing export markets for Electrical machinery and electronics of South Korea between 2021 and 2022 were China ($4.54B), Vietnam ($2.71B), and Singapore ($2.52B).

Imports In 2022, South Korea imported $116B in Electrical machinery and electronics, becoming the 6th largest importer of Electrical machinery and electronics in the world. At the same year, Electrical machinery and electronics was the 2nd most imported product in South Korea. South Korea imports Electrical machinery and electronics primarily from: China ($52.4B), Chinese Taipei ($18.5B), Vietnam ($10.4B), Japan ($9.1B), and United States ($5.09B).

The fastest growing import markets in Electrical machinery and electronics for South Korea between 2021 and 2022 were China ($5.82B), Chinese Taipei ($3.63B), and Japan ($1.07B).

COMPANIES In 2023, leading companies such as LG Electronics (1.78k), Volvo (1.56k), and General Motors (607) were at the forefront of shipping Electrical machinery and electronics from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Electrical machinery and electronics exports accounted up to $20.1B and imports accounted up to $10.9B, resulting in a positive trade balance of $9.18B. Between September 2023 and September 2024 the exports of South Korea's   Electrical machinery and electronics have increased by $3.67B (22.4%) from $16.4B to $20.1B, while imports increased by $1.38B (14.6%) from $9.48B to $10.9B.

Destinations In September 2024, Electrical machinery and electronics were exported mostly to China ($5.9B), Vietnam ($3.28B), Chinese Taipei ($2.73B), Hong Kong ($2.35B), and United States ($2.02B), and were imported mostly from China ($4.19B), Chinese Taipei ($2.41B), Japan ($1.08B), Vietnam ($797M), and United States ($549M).

Growth In September 2024, the increase in Electrical machinery and electronics's year-by-year exports was explained primarily by an increase in exports to United States ($19.2M or 1.36%), Kuwait ($13.1M or 1.03k%), and Austria ($12.3M or 24.6%). In September 2024, the increase in Electrical machinery and electronics's year-by-year imports was explained primarily by an increase in imports from Japan ($306M or 38.1%), Unknown ($202M or 215%), and Philippines ($69.8M or 28.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$3.67B(22.4%)
IMPORT GROWTH (September 2023 - September 2024)$1.38B(14.6%)
MAIN DESTINATION (September 2024)China$5.9B

This section shows Electrical machinery and electronics'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 Electrical machinery and electronics over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$217B
IMPORTS (2022)$116B
NET TRADE (2022)$101B

In 2022, South Korea exported $217B in Electrical machinery and electronics. The main destinations of South Korea exports on Electrical machinery and electronics were China ($71.6B), Vietnam ($36.2B), Hong Kong ($21B), United States ($20.5B), and Chinese Taipei ($15.8B).

In 2022, South Korea imported $116B in Electrical machinery and electronics, mainly from China ($52.4B), Chinese Taipei ($18.5B), Vietnam ($10.4B), Japan ($9.1B), and United States ($5.09B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electrical machinery and electronics EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
China$4.54B (6.76%)
Vietnam$2.71B (8.1%)
Singapore$2.52B (40%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electrical machinery and electronics BY South Korea WERE (2021 - 2022):
Hong Kong-$6.87B (-24.6%)
Russia-$353M (-50.7%)
Poland-$344M (-16.4%)
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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 Electrical machinery and electronics were:
China $1.1T
Chinese Taipei $293B
In 2022, South Korea's main importing competitors in Electrical machinery and electronics were:
United States $449B
China $412B
Hong Kong $348B

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Trade Value of Electrical machinery and electronics by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $1.88B
TOP IMPORT POTENTIALChina+ $5.43B

Electrical machinery and electronics’s highest export potential is India. With an export gap of $1.88B.   Electrical machinery and electronics’s highest import potential is China with an import gap of $5.43B.

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