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2022
Exports $153MWorld Rnk 12 / 200
Flag Rnk 70 / 96
2022
Destination $6.87M United States
2021 - 2022
FASTEST GROWING MARKET $6.87MUnited States
2022
PRODUCT COMPLEXITY IN Musical instruments1.43Rnk 66 / 1025
2022
Imports $223MWorld Rnk 10 / 224
Flag Rnk 82 / 96
2022
Origin $10.1M China
2021 - 2022
FASTEST GROWING ORIGIN $10.1MIndonesia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $153M in Musical instruments, making it the 12th largest exporter of Musical instruments in the world. At the same year, Musical instruments was the 70th most exported product in South Korea. The main destination of Musical instruments exports from South Korea are: United States ($59.3M), Indonesia ($40.5M), China ($13.8M), Germany ($8.02M), and Japan ($4.41M).

The fastest growing export markets for Musical instruments of South Korea between 2021 and 2022 were United States ($6.87M), Germany ($1.23M), and Japan ($623k).

Imports In 2022, South Korea imported $223M in Musical instruments, becoming the 10th largest importer of Musical instruments in the world. At the same year, Musical instruments was the 82nd most imported product in South Korea. South Korea imports Musical instruments primarily from: China ($85.5M), Indonesia ($35.2M), United States ($29.5M), Japan ($21.9M), and Germany ($11.1M).

The fastest growing import markets in Musical instruments for South Korea between 2021 and 2022 were Indonesia ($10.1M), Canada ($1.51M), and United States ($1.06M).

COMPANIES In 2023, leading companies such as GE RENEWABLES NORTH AMERICA LLC (44), LG Electronics (32), and Goldensee Limited (29) were at the forefront of shipping Musical instruments from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Musical instruments exports accounted up to $9.23M and imports accounted up to $17.3M, resulting in a negative trade balance of $8.09M. Between September 2023 and September 2024 the exports of South Korea's   Musical instruments have decreased by $-561k (-5.73%) from $9.79M to $9.23M, while imports increased by $1.1M (6.79%) from $16.2M to $17.3M.

Destinations In September 2024, Musical instruments were exported mostly to United States ($4.34M), Indonesia ($2.89M), Germany ($555k), China ($381k), and Japan ($302k), and were imported mostly from China ($5.32M), Indonesia ($3.55M), United States ($2.39M), Japan ($2.05M), and Germany ($1.39M).

Growth In September 2024, the decrease in Musical instruments's year-by-year exports was explained primarily by a decrease in exports to Indonesia ($-2.45M or -51.1%), United States ($-1.89M or -32.1%), and China ($-486k or -64.9%). In September 2024, the increase in Musical instruments's year-by-year imports was explained primarily by an increase in imports from Indonesia ($955k or 41.4%), France ($425k or 56.7%), and Japan ($323k or 18.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-561k(-5.73%)
IMPORT GROWTH (September 2023 - September 2024)$1.1M(6.79%)
MAIN DESTINATION (September 2024)United States$4.34M

This section shows Musical instruments'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 instruments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$153M
IMPORTS (2022)$223M
NET TRADE (2022)-$70.3M

In 2022, South Korea exported $153M in Musical instruments. The main destinations of South Korea exports on Musical instruments were United States ($59.3M), Indonesia ($40.5M), China ($13.8M), Germany ($8.02M), and Japan ($4.41M).

In 2022, South Korea imported $223M in Musical instruments, mainly from China ($85.5M), Indonesia ($35.2M), United States ($29.5M), Japan ($21.9M), and Germany ($11.1M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Musical instruments EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$6.87M (13.1%)
Germany$1.23M (18%)
Japan$623k (16.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Musical instruments BY South Korea WERE (2021 - 2022):
Indonesia-$13M (-24.3%)
China-$8.06M (-36.8%)
Vietnam-$1.02M (-46.9%)
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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 instruments were:
China $2.53B
Indonesia $1.08B
Germany $1.01B
In 2022, South Korea's main importing competitors in Musical instruments were:
United States $1.91B
Germany $876M
China $615M

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Trade Value of Musical instruments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $5.62M
TOP IMPORT POTENTIALChina+ $15.1M

Musical instruments’s highest export potential is China. With an export gap of $5.62M.   Musical instruments’s highest import potential is China with an import gap of $15.1M.

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