2023
Exports
$1.02BWorld Rnk 2 / 131
Flag Rnk 88 / 1188
2023
PRODUCT COMPLEXITY IN Metal Lathes
1.73Rnk 21 / 1025
2023
Imports
$101MWorld Rnk 18 / 190
Flag Rnk 475 / 1208
2023
ECONOMIC COMPLEXITY of South Korea
1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $1.02B in Metal Lathes, making it the 2nd largest exporter of Metal Lathes in the world. At the same year, Metal Lathes was the 88th most exported product in South Korea. The main destination of Metal Lathes exports from South Korea are: United States ($242M), Germany ($126M), Italy ($125M), Turkey ($118M), and China ($66.8M).

The fastest growing export markets for Metal Lathes of South Korea between 2022 and 2023 were Turkey ($27.9M), Italy ($25.9M), and India ($13.7M).

Imports In 2023, South Korea imported $101M in Metal Lathes, becoming the 18th largest importer of Metal Lathes in the world. At the same year, Metal Lathes was the 475th most imported product in South Korea. South Korea imports Metal Lathes primarily from: Japan ($55.3M), Thailand ($17.4M), Germany ($10.4M), China ($8.42M), and United States ($3.86M).

The fastest growing import markets in Metal Lathes for South Korea between 2022 and 2023 were Germany ($6.62M), Japan ($5.97M), and China ($832k).

COMPANIES In 2024, leading companies such as CNH Industrial (6) and Haas Automation (1) were at the forefront of shipping Metal Lathes from South Korea to the United States.

Latest Trends

January 2025

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (January 2024 - January 2025)$-15.3M(-22.3%)
IMPORT GROWTH (January 2024 - January 2025)$-485k(-11.3%)
MAIN DESTINATION (January 2025)United States$19.3M

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 (2023)$1.02B
IMPORTS (2023)$101M
NET TRADE (2023)$918M

In 2023, South Korea exported $1.02B in Metal Lathes. The main destinations of South Korea exports on Metal Lathes were United States ($242M), Germany ($126M), Italy ($125M), Turkey ($118M), and China ($66.8M).

In 2023, South Korea imported $101M in Metal Lathes, mainly from Japan ($55.3M), Thailand ($17.4M), Germany ($10.4M), China ($8.42M), and United States ($3.86M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Metal Lathes EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Turkey$27.9M (30.9%)
Italy$25.9M (26.3%)
India$13.7M (50.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Metal Lathes BY South Korea WERE (2022 - 2023):
Russia-$36.4M (-100%)
Vietnam-$16.2M (-100%)
Poland-$14.2M (-76.9%)

Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Metal Lathes were:
Japan $1.84B
China $1.01B
In 2023, 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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