Musical instruments in South Korea | The Observatory of Economic Complexity

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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 LG ELECTRONICS U.S.A. INC. (4.63k), YAMAHA CORPORATION OF AMERICA (144), and ROBERT BOSCH TOOL CORPORATION (134) were at the forefront of shipping Musical instruments from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Musical instruments exports accounted up to $8.16M and imports accounted up to $17.7M, resulting in a negative trade balance of $9.49M. Between February 2023 and February 2024 the exports of South Korea's Musical instruments have decreased by $-1.87M (-18.6%) from $10M to $8.16M, while imports decreased by $-43k (-0.24%) from $17.7M to $17.7M.

Destinations In February 2024, Musical instruments were exported mostly to United States ($3.19M), Indonesia ($2.48M), China ($607k), Germany ($374k), and Netherlands ($274k), and were imported mostly from China ($5.34M), Indonesia ($3.57M), Japan ($2.7M), United States ($2.14M), and Germany ($1.34M).

Growth In February 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 ($-486k or -64.9%). In February 2024, the decrease in Musical instruments's year-by-year imports was explained primarily by a decrease in imports from China ($-4.21M or -37.4%), Chinese Taipei ($-136k or -35.8%), and Mexico ($-129k or -30.4%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-1.87M(-18.6%)

IMPORT GROWTH (February 2023 - February 2024)$-43k(-0.24%)

MAIN DESTINATION (February 2024)United States$3.19M

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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