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2022
Exports $89.2MWorld Rnk 6 / 166
Flag Rnk 392 / 1204
2022
Destination $4.12M Indonesia
2021 - 2022
FASTEST GROWING MARKET $4.12MUnited States
2022
PRODUCT COMPLEXITY IN Musical Instrument Parts1.19Rnk 106 / 1025
2022
Imports $41.8MWorld Rnk 9 / 204
Flag Rnk 709 / 1213
2022
Origin $608k China
2021 - 2022
FASTEST GROWING ORIGIN $608kFrance
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $89.2M in Musical Instrument Parts, making it the 6th largest exporter of Musical Instrument Parts in the world. At the same year, Musical Instrument Parts was the 392nd most exported product in South Korea. The main destination of Musical Instrument Parts exports from South Korea are: Indonesia ($40.4M), United States ($29.7M), China ($6.67M), Japan ($2.65M), and Germany ($2.64M).

The fastest growing export markets for Musical Instrument Parts of South Korea between 2021 and 2022 were United States ($4.12M), Germany ($688k), and Japan ($340k).

Imports In 2022, South Korea imported $41.8M in Musical Instrument Parts, becoming the 9th largest importer of Musical Instrument Parts in the world. At the same year, Musical Instrument Parts was the 709th most imported product in South Korea. South Korea imports Musical Instrument Parts primarily from: China ($14M), United States ($10.7M), Germany ($3.58M), France ($2.97M), and Austria ($2.45M).

The fastest growing import markets in Musical Instrument Parts for South Korea between 2021 and 2022 were France ($608k), Netherlands ($408k), and Chinese Taipei ($130k).

COMPANIES In 2023, leading companies such as GE RENEWABLES NORTH AMERICA LLC (44), Goldensee Limited (28), and ZF Friedrichshafen (15) were at the forefront of shipping Musical Instrument Parts from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Musical Instrument Parts exports accounted up to $6.18M and imports accounted up to $3.53M, resulting in a positive trade balance of $2.65M. Between July 2023 and July 2024 the exports of South Korea's   Musical Instrument Parts have increased by $959k (18.4%) from $5.22M to $6.18M, while imports increased by $88k (2.56%) from $3.44M to $3.53M.

Destinations In July 2024, Musical Instrument Parts were exported mostly to Indonesia ($2.91M), United States ($1.93M), China ($654k), Germany ($210k), and Japan ($159k), and were imported mostly from United States ($962k), China ($935k), Germany ($392k), France ($316k), and Japan ($179k).

Growth In July 2024, the increase in Musical Instrument Parts's year-by-year exports was explained primarily by an increase in exports to Japan ($109k or 62.6%), Czechia ($28k or 560%), and Canada ($28k or 133%). In July 2024, the increase in Musical Instrument Parts's year-by-year imports was explained primarily by an increase in imports from Austria ($130k or 76.5%), France ($110k or 49.1%), and Malaysia ($63k or 394%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$959k(18.4%)
IMPORT GROWTH (July 2023 - July 2024)$88k(2.56%)
MAIN DESTINATION (July 2024)Indonesia$2.91M

This section shows Musical Instrument 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 Musical Instrument Parts over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$89.2M
IMPORTS (2022)$41.8M
NET TRADE (2022)$47.5M

In 2022, South Korea exported $89.2M in Musical Instrument Parts. The main destinations of South Korea exports on Musical Instrument Parts were Indonesia ($40.4M), United States ($29.7M), China ($6.67M), Japan ($2.65M), and Germany ($2.64M).

In 2022, South Korea imported $41.8M in Musical Instrument Parts, mainly from China ($14M), United States ($10.7M), Germany ($3.58M), France ($2.97M), and Austria ($2.45M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Musical Instrument Parts EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$4.12M (16.1%)
Germany$688k (35.1%)
Japan$340k (14.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Musical Instrument Parts BY South Korea WERE (2021 - 2022):
Indonesia-$13.1M (-24.5%)
China-$2.72M (-29%)
Vietnam-$972k (-54.4%)
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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 Musical Instrument Parts were:
China $367M
United States $290M
Germany $217M
In 2022, South Korea's main importing competitors in Musical Instrument Parts were:
United States $309M
Germany $168M
China $160M

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Trade Value of Musical Instrument Parts by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $4.23M
TOP IMPORT POTENTIALChina+ $3.54M

Musical Instrument Parts’s highest export potential is China. With an export gap of $4.23M.   Musical Instrument Parts’s highest import potential is China with an import gap of $3.54M.

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