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2022
Exports $270MWorld Rnk 7 / 142
Flag Rnk 235 / 1204
2022
Destination $65.2M Vietnam
2021 - 2022
FASTEST GROWING MARKET $65.2MVietnam
2022
PRODUCT COMPLEXITY IN Non-Mechanical Removal Machinery1.73Rnk 18 / 1025
2022
Imports $363MWorld Rnk 4 / 204
Flag Rnk 240 / 1213
2022
Origin $22.8M China
2021 - 2022
FASTEST GROWING ORIGIN $22.8MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $270M in Non-Mechanical Removal Machinery, making it the 7th largest exporter of Non-Mechanical Removal Machinery in the world. At the same year, Non-Mechanical Removal Machinery was the 235th most exported product in South Korea. The main destination of Non-Mechanical Removal Machinery exports from South Korea are: Vietnam ($111M), China ($42.4M), United States ($40.1M), Chinese Taipei ($22.3M), and Malaysia ($15.1M).

The fastest growing export markets for Non-Mechanical Removal Machinery of South Korea between 2021 and 2022 were Vietnam ($65.2M), United States ($8.15M), and Malaysia ($7.3M).

Imports In 2022, South Korea imported $363M in Non-Mechanical Removal Machinery, becoming the 4th largest importer of Non-Mechanical Removal Machinery in the world. At the same year, Non-Mechanical Removal Machinery was the 240th most imported product in South Korea. South Korea imports Non-Mechanical Removal Machinery primarily from: China ($151M), Japan ($128M), Germany ($31.4M), Switzerland ($18.4M), and Thailand ($10.7M).

The fastest growing import markets in Non-Mechanical Removal Machinery for South Korea between 2021 and 2022 were China ($22.8M), Germany ($3.26M), and Thailand ($2.58M).

COMPANIES In 2023, leading companies such as LG Electronics (1) were at the forefront of shipping Non-Mechanical Removal Machinery from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Non-Mechanical Removal Machinery exports accounted up to $33M and imports accounted up to $18.9M, resulting in a positive trade balance of $14.1M. Between October 2023 and October 2024 the exports of South Korea's   Non-Mechanical Removal Machinery have increased by $12.3M (59.2%) from $20.7M to $33M, while imports decreased by $-2.48M (-11.6%) from $21.4M to $18.9M.

Destinations In October 2024, Non-Mechanical Removal Machinery were exported mostly to United States ($12.4M), Vietnam ($9.12M), Canada ($5.32M), Chinese Taipei ($2.28M), and India ($844k), and were imported mostly from China ($10.4M), Japan ($4M), Thailand ($1.36M), United States ($769k), and Germany ($632k).

Growth In October 2024, the increase in Non-Mechanical Removal Machinery's year-by-year exports was explained primarily by an increase in exports to United States ($10.2M or 476%), Vietnam ($1.3M or 28.2%), and Chinese Taipei ($904k or 213%). In October 2024, the decrease in Non-Mechanical Removal Machinery's year-by-year imports was explained primarily by a decrease in imports from Japan ($-8.27M or -72.5%), China ($-3.73M or -32.5%), and United States ($-479k or -62%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$12.3M(59.2%)
IMPORT GROWTH (October 2023 - October 2024)$-2.48M(-11.6%)
MAIN DESTINATION (October 2024)United States$12.4M

This section shows Non-Mechanical Removal Machinery'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 Non-Mechanical Removal Machinery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$270M
IMPORTS (2022)$363M
NET TRADE (2022)-$92.6M

In 2022, South Korea exported $270M in Non-Mechanical Removal Machinery. The main destinations of South Korea exports on Non-Mechanical Removal Machinery were Vietnam ($111M), China ($42.4M), United States ($40.1M), Chinese Taipei ($22.3M), and Malaysia ($15.1M).

In 2022, South Korea imported $363M in Non-Mechanical Removal Machinery, mainly from China ($151M), Japan ($128M), Germany ($31.4M), Switzerland ($18.4M), and Thailand ($10.7M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Non-Mechanical Removal Machinery EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Vietnam$65.2M (143%)
United States$8.15M (25.5%)
Malaysia$7.3M (93.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Non-Mechanical Removal Machinery BY South Korea WERE (2021 - 2022):
China-$64.6M (-60.4%)
Singapore-$1.27M (-41.8%)
Czechia-$696k (-60.7%)
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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 Non-Mechanical Removal Machinery were:
China $1.83B
Japan $1.31B
Germany $1.19B
In 2022, South Korea's main importing competitors in Non-Mechanical Removal Machinery were:
United States $987M
China $830M
Germany $390M

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Trade Value of Non-Mechanical Removal Machinery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $20.6M
TOP IMPORT POTENTIALChina+ $13.5M

Non-Mechanical Removal Machinery’s highest export potential is China. With an export gap of $20.6M.   Non-Mechanical Removal Machinery’s highest import potential is China with an import gap of $13.5M.

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