2022
Exports
$919MWorld Rnk 2 / 117
Flag Rnk 109 / 1204
2022
PRODUCT COMPLEXITY IN Metal Lathes
1.68Rnk 29 / 1025
2022
Imports
$93.7MWorld Rnk 22 / 189
Flag Rnk 527 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $919M in Metal Lathes, making it the 2nd largest exporter of Metal Lathes in the world. At the same year, Metal Lathes was the 109th most exported product in South Korea. The main destination of Metal Lathes exports from South Korea are: United States ($238M), Germany ($138M), Italy ($96.4M), Turkey ($73.3M), and China ($53M).

The fastest growing export markets for Metal Lathes of South Korea between 2021 and 2022 were United States ($64.5M), Germany ($38.7M), and United Kingdom ($8.91M).

Imports In 2022, South Korea imported $93.7M in Metal Lathes, becoming the 22nd largest importer of Metal Lathes in the world. At the same year, Metal Lathes was the 527th most imported product in South Korea. South Korea imports Metal Lathes primarily from: Japan ($51.9M), Thailand ($16.2M), China ($8.71M), Chinese Taipei ($5.04M), and United States ($3.8M).

The fastest growing import markets in Metal Lathes for South Korea between 2021 and 2022 were Chinese Taipei ($2.2M), Netherlands ($1.36M), and Thailand ($272k).

COMPANIES In 2023, leading companies such as CNH Industrial (9) and LG Electronics (1) were at the forefront of shipping Metal Lathes from South Korea to the United States.

Latest Trends

October 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-7.33M(-10.3%)
IMPORT GROWTH (October 2023 - October 2024)$-1.56M(-31.2%)
MAIN DESTINATION (October 2024)United States$13M

This section shows Metal Lathes'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 Metal Lathes over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$919M
IMPORTS (2022)$93.7M
NET TRADE (2022)$826M

In 2022, South Korea exported $919M in Metal Lathes. The main destinations of South Korea exports on Metal Lathes were United States ($238M), Germany ($138M), Italy ($96.4M), Turkey ($73.3M), and China ($53M).

In 2022, South Korea imported $93.7M in Metal Lathes, mainly from Japan ($51.9M), Thailand ($16.2M), China ($8.71M), Chinese Taipei ($5.04M), and United States ($3.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Metal Lathes EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$64.5M (37.2%)
Germany$38.7M (38.9%)
United Kingdom$8.91M (38.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Metal Lathes BY South Korea WERE (2021 - 2022):
China-$26.3M (-33.2%)
Poland-$23.4M (-81.8%)
Estonia-$10.7M (-87.9%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Metal Lathes were:
Japan $1.72B
In 2022, South Korea's main importing competitors in Metal Lathes were:

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Trade Value of Metal Lathes by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $24.6M
TOP IMPORT POTENTIALChina+ $6.24M

Metal Lathes’s highest export potential is China. With an export gap of $24.6M.   Metal Lathes’s highest import potential is China with an import gap of $6.24M.

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