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2022
Exports $13.2MWorld Rnk 5 / 161
Flag Rnk 700 / 1204
2022
Destination $898k China
2021 - 2022
FASTEST GROWING MARKET $898kUnited States
2022
Imports $6.66MWorld Rnk 16 / 207
Flag Rnk 987 / 1213
2022
Origin $73.3k China
2021 - 2022
FASTEST GROWING ORIGIN $73.3kIndia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $13.2M in Iron Sewing Needles, making it the 5th largest exporter of Iron Sewing Needles in the world. At the same year, Iron Sewing Needles was the 700th most exported product in South Korea. The main destination of Iron Sewing Needles exports from South Korea are: China ($2.69M), Vietnam ($1.89M), Japan ($1.77M), United States ($1.54M), and Singapore ($1.31M).

The fastest growing export markets for Iron Sewing Needles of South Korea between 2021 and 2022 were United States ($898k), Vietnam ($687k), and Singapore ($346k).

Imports In 2022, South Korea imported $6.66M in Iron Sewing Needles, becoming the 16th largest importer of Iron Sewing Needles in the world. At the same year, Iron Sewing Needles was the 987th most imported product in South Korea. South Korea imports Iron Sewing Needles primarily from: China ($2.6M), Japan ($1.52M), United States ($1.5M), Turkey ($254k), and Mexico ($120k).

The fastest growing import markets in Iron Sewing Needles for South Korea between 2021 and 2022 were India ($73.3k), Singapore ($42.4k), and Austria ($28.6k).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Iron Sewing Needles exports accounted up to $974k and imports accounted up to $1.11M, resulting in a negative trade balance of $135k. Between July 2023 and July 2024 the exports of South Korea's   Iron Sewing Needles have increased by $38k (4.06%) from $936k to $974k, while imports increased by $157k (16.5%) from $952k to $1.11M.

Destinations In July 2024, Iron Sewing Needles were exported mostly to China ($231k), Japan ($221k), United States ($180k), Indonesia ($63k), and Vietnam ($50k), and were imported mostly from United States ($459k), China ($265k), Japan ($176k), France ($89k), and United Kingdom ($30k).

Growth In July 2024, the increase in Iron Sewing Needles's year-by-year exports was explained primarily by an increase in exports to Russia ($31k or 282%), China ($28k or 45.2%), and Japan ($19k or 9.45%). In July 2024, the increase in Iron Sewing Needles's year-by-year imports was explained primarily by an increase in imports from United States ($46k or 28.7%), Mexico ($31k or 258%), and Turkey ($17k or 189%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$38k(4.06%)
IMPORT GROWTH (July 2023 - July 2024)$157k(16.5%)
MAIN DESTINATION (July 2024)China$231k

This section shows Iron Sewing Needles'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 Iron Sewing Needles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$13.2M
IMPORTS (2022)$6.66M
NET TRADE (2022)$6.57M

In 2022, South Korea exported $13.2M in Iron Sewing Needles. The main destinations of South Korea exports on Iron Sewing Needles were China ($2.69M), Vietnam ($1.89M), Japan ($1.77M), United States ($1.54M), and Singapore ($1.31M).

In 2022, South Korea imported $6.66M in Iron Sewing Needles, mainly from China ($2.6M), Japan ($1.52M), United States ($1.5M), Turkey ($254k), and Mexico ($120k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron Sewing Needles EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$898k (140%)
Vietnam$687k (57.2%)
Singapore$346k (35.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Sewing Needles BY South Korea WERE (2021 - 2022):
Thailand-$551k (-51.3%)
Uzbekistan-$137k (-86.7%)
Philippines-$118k (-58%)
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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 Iron Sewing Needles were:
China $164M
Japan $21.4M
United States $19.9M
In 2022, South Korea's main importing competitors in Iron Sewing Needles were:
United States $49.2M
Indonesia $25.8M
Malaysia $22.4M

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Trade Value of Iron Sewing Needles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $348k
TOP IMPORT POTENTIALChina+ $1.01M

Iron Sewing Needles’s highest export potential is China. With an export gap of $348k.   Iron Sewing Needles’s highest import potential is China with an import gap of $1.01M.

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