Machinery, mechanical appliances, & parts in South Korea | The Observatory of Economic Complexity

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Exports In 2023, South Korea exported $80B in Machinery, mechanical appliances, & parts, making it the 9th largest exporter of Machinery, mechanical appliances, & parts in the world. At the same year, Machinery, mechanical appliances, & parts was the 3rd most exported product in South Korea. The main destination of Machinery, mechanical appliances, & parts exports from South Korea are: United States ($21.3B), China ($15.6B), Mexico ($4.94B), Japan ($3.39B), and Hong Kong ($2.21B).

The fastest growing export markets for Machinery, mechanical appliances, & parts of South Korea between 2022 and 2023 were Indonesia ($562M), Poland ($489M), and Kazakhstan ($276M).

Imports In 2023, South Korea imported $56.8B in Machinery, mechanical appliances, & parts, becoming the 13th largest importer of Machinery, mechanical appliances, & parts in the world. At the same year, Machinery, mechanical appliances, & parts was the 3rd most imported product in South Korea. South Korea imports Machinery, mechanical appliances, & parts primarily from: China ($15.2B), Japan ($8.08B), United States ($7.78B), Netherlands ($6.58B), and Singapore ($4.66B).

The fastest growing import markets in Machinery, mechanical appliances, & parts for South Korea between 2022 and 2023 were Singapore ($1.42B), Netherlands ($733M), and Hong Kong ($704M).

COMPANIES In 2024, leading companies such as LG Electronics (10.9k), Samsung (4.54k), and Hankook Tires (857) were at the forefront of shipping Machinery, mechanical appliances, & parts from South Korea to the United States.

Latest Trends

December 2024

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Overview In December 2024 South Korea's Machinery, mechanical appliances, & parts exports accounted up to $7.79B and imports accounted up to $6.58B, resulting in a positive trade balance of $1.21B. Between December 2023 and December 2024 the exports of South Korea's Machinery, mechanical appliances, & parts have increased by $348M (4.67%) from $7.44B to $7.79B, while imports increased by $990M (17.7%) from $5.59B to $6.58B.

Destinations In December 2024, Machinery, mechanical appliances, & parts were exported mostly to United States ($2.7B), China ($1.36B), Chinese Taipei ($355M), Vietnam ($326M), and Hong Kong ($299M), and were imported mostly from China ($1.7B), Netherlands ($1.15B), Japan ($836M), United States ($743M), and Vietnam ($473M).

Growth In December 2024, the increase in Machinery, mechanical appliances, & parts's year-by-year exports was explained primarily by an increase in exports to United States ($847M or 68.4%), China ($275M or 47%), and Hong Kong ($132M or 214%). In December 2024, the increase in Machinery, mechanical appliances, & parts's year-by-year imports was explained primarily by an increase in imports from Vietnam ($186M or 46.2%), Malaysia ($140M or 317%), and China ($112M or 7.52%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2023 - December 2024)$348M(4.67%)

IMPORT GROWTH (December 2023 - December 2024)$990M(17.7%)

MAIN DESTINATION (December 2024)United States$2.7B

This section shows Machinery, mechanical appliances, & 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 Machinery, mechanical appliances, & parts over time.

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