2022
Exports
$341MWorld Rnk 2 / 73
Flag Rnk 202 / 1204
2022
PRODUCT COMPLEXITY IN Military Weapons
0.3Rnk 453 / 1025
2022
Imports
$73.8MWorld Rnk 5 / 143
Flag Rnk 579 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $341M in Military Weapons, making it the 2nd largest exporter of Military Weapons in the world. At the same year, Military Weapons was the 202nd most exported product in South Korea. The main destination of Military Weapons exports from South Korea are: Poland ($217M), Saudi Arabia ($67.2M), United Arab Emirates ($22M), Finland ($16.6M), and Estonia ($15.6M).

The fastest growing export markets for Military Weapons of South Korea between 2021 and 2022 were Poland ($217M), Saudi Arabia ($62.7M), and United Arab Emirates ($13.3M).

Imports In 2022, South Korea imported $73.8M in Military Weapons, becoming the 5th largest importer of Military Weapons in the world. At the same year, Military Weapons was the 579th most imported product in South Korea. South Korea imports Military Weapons primarily from: United States ($70.4M), Israel ($1.25M), United Kingdom ($1.23M), Greece ($260k), and Turkey ($182k).

The fastest growing import markets in Military Weapons for South Korea between 2021 and 2022 were United States ($19.6M), Israel ($1.25M), and United Kingdom ($1.18M).

COMPANIES In 2023, leading companies such as Hyosung (1) were at the forefront of shipping Military Weapons from South Korea to the United States.

Latest Trends

October 2022

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2021 - October 2022)$162M(1.77k%)
IMPORT GROWTH (October 2021 - October 2022)$-5.7M(-62.4%)
MAIN DESTINATION (October 2022)

This section shows Military Weapons'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 Military Weapons over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$341M
IMPORTS (2022)$73.8M
NET TRADE (2022)$267M

In 2022, South Korea exported $341M in Military Weapons. The main destinations of South Korea exports on Military Weapons were Poland ($217M), Saudi Arabia ($67.2M), United Arab Emirates ($22M), Finland ($16.6M), and Estonia ($15.6M).

In 2022, South Korea imported $73.8M in Military Weapons, mainly from United States ($70.4M), Israel ($1.25M), United Kingdom ($1.23M), Greece ($260k), and Turkey ($182k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Military Weapons EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Poland$217M (1%)
Saudi Arabia$62.7M (1.4k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Military Weapons BY South Korea WERE (2021 - 2022):
Nepal-$15.5M (-99.9%)
Finland-$10.9M (-39.7%)
Indonesia-$10.4M (-92.6%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Military Weapons were:
In 2022, South Korea's main importing competitors in Military Weapons were:

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Trade Value of Military Weapons by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $1.6M
TOP IMPORT POTENTIALUnited Kingdom+ $207k

Military Weapons’s highest export potential is United States. With an export gap of $1.6M.   Military Weapons’s highest import potential is United Kingdom with an import gap of $207k.

See methodology.

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