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2023
Exports $393MWorld Rnk 19 / 199
Flag Rnk 174 / 1188
2023
Destination $13.2M United States
2022 - 2023
FASTEST GROWING MARKET $13.2MSaudi Arabia
2023
PRODUCT COMPLEXITY IN Navigation Equipment1.03Rnk 167 / 1025
2023
Imports $617MWorld Rnk 11 / 223
Flag Rnk 138 / 1208
2023
Origin $218M Singapore
2022 - 2023
FASTEST GROWING ORIGIN $218MSingapore
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $393M in Navigation Equipment, making it the 19th largest exporter of Navigation Equipment in the world. At the same year, Navigation Equipment was the 174th most exported product in South Korea. The main destination of Navigation Equipment exports from South Korea are: United States ($117M), Brazil ($45.5M), China ($39.7M), Slovakia ($31.8M), and Czechia ($23.6M).

The fastest growing export markets for Navigation Equipment of South Korea between 2022 and 2023 were Saudi Arabia ($13.2M), Brazil ($9.16M), and Slovakia ($6.63M).

Imports In 2023, South Korea imported $617M in Navigation Equipment, becoming the 11th largest importer of Navigation Equipment in the world. At the same year, Navigation Equipment was the 138th most imported product in South Korea. South Korea imports Navigation Equipment primarily from: Singapore ($362M), United States ($51M), China ($43M), Spain ($38.3M), and Austria ($25.9M).

The fastest growing import markets in Navigation Equipment for South Korea between 2022 and 2023 were Singapore ($218M), Austria ($19.3M), and Spain ($13.4M).

COMPANIES In 2024, leading companies such as Samsung (38), LG Electronics (10), and Hongkong Xin Jie Technology (2) were at the forefront of shipping Navigation Equipment from South Korea to the United States.

Latest Trends

January 2025

About

Overview In January 2025 South Korea's Navigation Equipment exports accounted up to $29.7M and imports accounted up to $46.6M, resulting in a negative trade balance of $17M. Between January 2024 and January 2025 the exports of South Korea's   Navigation Equipment have decreased by $-621k (-2.05%) from $30.3M to $29.7M, while imports decreased by $-335k (-0.71%) from $47M to $46.6M.

Destinations In January 2025, Navigation Equipment were exported mostly to United States ($9.91M), Mexico ($3.29M), United Kingdom ($3.01M), China ($2.14M), and India ($1.65M), and were imported mostly from Singapore ($17M), China ($8.03M), United States ($6.4M), Vietnam ($4.79M), and Israel ($4.76M).

Growth In January 2025, the decrease in Navigation Equipment's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-1.52M or -50.2%), Thailand ($-1M or -98.6%), and Canada ($-719k or -85.8%). In January 2025, the decrease in Navigation Equipment's year-by-year imports was explained primarily by a decrease in imports from Israel ($-10.6M or -94.9%), Italy ($-3.05M or -88.7%), and United States ($-2.26M or -25.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (January 2024 - January 2025)$-621k(-2.05%)
IMPORT GROWTH (January 2024 - January 2025)$-335k(-0.71%)
MAIN DESTINATION (January 2025)United States$9.91M

This section shows Navigation Equipment'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 Navigation Equipment over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$393M
IMPORTS (2023)$617M
NET TRADE (2023)-$224M

In 2023, South Korea exported $393M in Navigation Equipment. The main destinations of South Korea exports on Navigation Equipment were United States ($117M), Brazil ($45.5M), China ($39.7M), Slovakia ($31.8M), and Czechia ($23.6M).

In 2023, South Korea imported $617M in Navigation Equipment, mainly from Singapore ($362M), United States ($51M), China ($43M), Spain ($38.3M), and Austria ($25.9M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Navigation Equipment EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Saudi Arabia$13.2M (8.63k%)
Brazil$9.16M (25.2%)
Slovakia$6.63M (26.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Navigation Equipment BY South Korea WERE (2022 - 2023):
Vietnam-$43.9M (-100%)
United States-$14M (-10.7%)
Mexico-$13.9M (-63.6%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Navigation Equipment were:
China $3.35B
United States $3.12B
Germany $1.92B
In 2023, South Korea's main importing competitors in Navigation Equipment were:
United States $4.43B
Germany $2.3B
China $1.81B

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Trade Value of Navigation Equipment by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $27M
TOP IMPORT POTENTIALChina+ $39.6M

Navigation Equipment’s highest export potential is China. With an export gap of $27M.   Navigation Equipment’s highest import potential is China with an import gap of $39.6M.

See methodology.

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