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2022
Exports $4.27MWorld Rnk 14 / 86
Flag Rnk 851 / 1204
2022
Destination $770k Japan
2021 - 2022
FASTEST GROWING MARKET $770kJapan
2022
PRODUCT COMPLEXITY IN Felt Machinery0.94Rnk 196 / 1025
2022
Imports $27.1MWorld Rnk 12 / 151
Flag Rnk 785 / 1213
2022
Origin $2.37M China
2021 - 2022
FASTEST GROWING ORIGIN $2.37MItaly
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $4.27M in Felt Machinery, making it the 14th largest exporter of Felt Machinery in the world. At the same year, Felt Machinery was the 851st most exported product in South Korea. The main destination of Felt Machinery exports from South Korea are: Japan ($1.58M), Vietnam ($1.23M), United States ($655k), China ($221k), and India ($196k).

The fastest growing export markets for Felt Machinery of South Korea between 2021 and 2022 were Japan ($770k), United States ($508k), and India ($141k).

Imports In 2022, South Korea imported $27.1M in Felt Machinery, becoming the 12th largest importer of Felt Machinery in the world. At the same year, Felt Machinery was the 785th most imported product in South Korea. South Korea imports Felt Machinery primarily from: China ($21M), Italy ($3.01M), Portugal ($1.08M), Germany ($979k), and Japan ($402k).

The fastest growing import markets in Felt Machinery for South Korea between 2021 and 2022 were Italy ($2.37M), Philippines ($136k), and Singapore ($85.4k).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Felt Machinery exports accounted up to $309k and imports accounted up to $594k, resulting in a negative trade balance of $285k. Between October 2023 and October 2024 the exports of South Korea's   Felt Machinery have decreased by $-81k (-20.8%) from $390k to $309k, while imports decreased by $-14.6M (-96.1%) from $15.2M to $594k.

Destinations In October 2024, Felt Machinery were exported mostly to Nigeria ($159k), Thailand ($134k), Japan ($6k), Vietnam ($5k), and Mexico ($5k), and were imported mostly from Germany ($256k), China ($236k), Portugal ($92k), Japan ($10k), and Nigeria ($0).

Growth In October 2024, the decrease in Felt Machinery's year-by-year exports was explained primarily by a decrease in exports to Japan ($-1.4M or -98.9%) and China ($-7k or -100%). In October 2024, the decrease in Felt Machinery's year-by-year imports was explained primarily by a decrease in imports from China ($-1.26M or -94.5%), Italy ($-166k or -12.3%), and Turkey ($-144k or -96%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-81k(-20.8%)
IMPORT GROWTH (October 2023 - October 2024)$-14.6M(-96.1%)
MAIN DESTINATION (October 2024)Nigeria$159k

This section shows Felt Machinery'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 Felt Machinery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$4.27M
IMPORTS (2022)$27.1M
NET TRADE (2022)-$22.8M

In 2022, South Korea exported $4.27M in Felt Machinery. The main destinations of South Korea exports on Felt Machinery were Japan ($1.58M), Vietnam ($1.23M), United States ($655k), China ($221k), and India ($196k).

In 2022, South Korea imported $27.1M in Felt Machinery, mainly from China ($21M), Italy ($3.01M), Portugal ($1.08M), Germany ($979k), and Japan ($402k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Felt Machinery EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Japan$770k (95.5%)
United States$508k (346%)
India$141k (259%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Felt Machinery BY South Korea WERE (2021 - 2022):
Vietnam-$1.48M (-54.6%)
Philippines-$895k (-98.3%)
China-$374k (-62.9%)
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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 Felt Machinery were:
Germany $410M
China $306M
France $133M
In 2022, South Korea's main importing competitors in Felt Machinery were:
China $244M
United States $110M
India $104M

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Trade Value of Felt Machinery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $387k
TOP IMPORT POTENTIALGermany+ $735k

Felt Machinery’s highest export potential is China. With an export gap of $387k.   Felt Machinery’s highest import potential is Germany with an import gap of $735k.

See methodology.

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