2023
Exports
$2.37BWorld Rnk 5 / 212
Flag Rnk 43 / 1188
2023
PRODUCT COMPLEXITY IN Other Heating Machinery
1.3Rnk 78 / 1025
2023
Imports
$1.06BWorld Rnk 13 / 225
Flag Rnk 84 / 1208
2023
ECONOMIC COMPLEXITY of South Korea
1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $2.37B in Other Heating Machinery, making it the 5th largest exporter of Other Heating Machinery in the world. At the same year, Other Heating Machinery was the 43rd most exported product in South Korea. The main destination of Other Heating Machinery exports from South Korea are: China ($638M), United States ($582M), Japan ($162M), Poland ($121M), and Saudi Arabia ($118M).

The fastest growing export markets for Other Heating Machinery of South Korea between 2022 and 2023 were China ($304M), Qatar ($112M), and Poland ($63.7M).

Imports In 2023, South Korea imported $1.06B in Other Heating Machinery, becoming the 13th largest importer of Other Heating Machinery in the world. At the same year, Other Heating Machinery was the 84th most imported product in South Korea. South Korea imports Other Heating Machinery primarily from: China ($321M), Italy ($153M), United States ($101M), Japan ($92.2M), and Germany ($91.7M).

The fastest growing import markets in Other Heating Machinery for South Korea between 2022 and 2023 were Brazil ($21M), Italy ($18.5M), and Netherlands ($4.74M).

COMPANIES In 2024, leading companies such as Ford Motor Company (34), Samsung (2), and LG Electronics (2) were at the forefront of shipping Other Heating Machinery from South Korea to the United States.

Latest Trends

January 2025

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (January 2024 - January 2025)$-626k(-0.34%)
IMPORT GROWTH (January 2024 - January 2025)$38.3M(41.1%)
MAIN DESTINATION (January 2025)United States$76.5M

This section shows Other Heating 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 Other Heating Machinery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$2.37B
IMPORTS (2023)$1.06B
NET TRADE (2023)$1.31B

In 2023, South Korea exported $2.37B in Other Heating Machinery. The main destinations of South Korea exports on Other Heating Machinery were China ($638M), United States ($582M), Japan ($162M), Poland ($121M), and Saudi Arabia ($118M).

In 2023, South Korea imported $1.06B in Other Heating Machinery, mainly from China ($321M), Italy ($153M), United States ($101M), Japan ($92.2M), and Germany ($91.7M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Other Heating Machinery EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
China$304M (91%)
Qatar$112M (2.91k%)
Poland$63.7M (111%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Other Heating Machinery BY South Korea WERE (2022 - 2023):
Russia-$85.4M (-100%)
Mexico-$68.9M (-72.8%)
Vietnam-$67.2M (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Other Heating Machinery were:
China $8.69B
Germany $5.96B
Italy $4.77B
In 2023, South Korea's main importing competitors in Other Heating Machinery were:

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Trade Value of Other Heating Machinery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $86M
TOP IMPORT POTENTIALChina+ $97.6M

Other Heating Machinery’s highest export potential is China. With an export gap of $86M.   Other Heating Machinery’s highest import potential is China with an import gap of $97.6M.

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