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2022
Exports $269MWorld Rnk 13 / 209
Flag Rnk 236 / 1204
2022
Destination $10.6M United States
2021 - 2022
FASTEST GROWING MARKET $10.6MUnited States
2022
PRODUCT COMPLEXITY IN Padlocks0.82Rnk 236 / 1025
2022
Imports $190MWorld Rnk 20 / 223
Flag Rnk 378 / 1213
2022
Origin $7.77M China
2021 - 2022
FASTEST GROWING ORIGIN $7.77MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $269M in Padlocks, making it the 13th largest exporter of Padlocks in the world. At the same year, Padlocks was the 236th most exported product in South Korea. The main destination of Padlocks exports from South Korea are: United States ($71.8M), Vietnam ($31.5M), India ($25.9M), Mexico ($21.6M), and China ($16.4M).

The fastest growing export markets for Padlocks of South Korea between 2021 and 2022 were United States ($10.6M), India ($6.38M), and Indonesia ($3.13M).

Imports In 2022, South Korea imported $190M in Padlocks, becoming the 20th largest importer of Padlocks in the world. At the same year, Padlocks was the 378th most imported product in South Korea. South Korea imports Padlocks primarily from: China ($98.6M), Vietnam ($49.3M), Philippines ($11.2M), United States ($7.5M), and Germany ($4.45M).

The fastest growing import markets in Padlocks for South Korea between 2021 and 2022 were China ($7.77M), Netherlands ($864k), and Vietnam ($542k).

COMPANIES In 2023, leading companies such as Samsung (3), LG Electronics (3), and ZF Friedrichshafen (2) were at the forefront of shipping Padlocks from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Padlocks exports accounted up to $20M and imports accounted up to $12.2M, resulting in a positive trade balance of $7.76M. Between September 2023 and September 2024 the exports of South Korea's   Padlocks have decreased by $-836k (-4.02%) from $20.8M to $20M, while imports increased by $123k (1.02%) from $12.1M to $12.2M.

Destinations In September 2024, Padlocks were exported mostly to United States ($7.71M), Vietnam ($1.99M), India ($1.97M), Mexico ($1.76M), and China ($1.11M), and were imported mostly from China ($6.41M), Vietnam ($3.19M), Philippines ($640k), United States ($471k), and Mexico ($269k).

Growth In September 2024, the decrease in Padlocks's year-by-year exports was explained primarily by a decrease in exports to China ($-1.22M or -67.8%), Chinese Taipei ($-957k or -76.9%), and Russia ($-833k or -100%). In September 2024, the increase in Padlocks's year-by-year imports was explained primarily by an increase in imports from Vietnam ($902k or 25.7%), Romania ($150k or 625%), and Canada ($87k or 2.18k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-836k(-4.02%)
IMPORT GROWTH (September 2023 - September 2024)$123k(1.02%)
MAIN DESTINATION (September 2024)United States$7.71M

This section shows Padlocks'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 Padlocks over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$269M
IMPORTS (2022)$190M
NET TRADE (2022)$79.1M

In 2022, South Korea exported $269M in Padlocks. The main destinations of South Korea exports on Padlocks were United States ($71.8M), Vietnam ($31.5M), India ($25.9M), Mexico ($21.6M), and China ($16.4M).

In 2022, South Korea imported $190M in Padlocks, mainly from China ($98.6M), Vietnam ($49.3M), Philippines ($11.2M), United States ($7.5M), and Germany ($4.45M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Padlocks EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$10.6M (17.2%)
India$6.38M (32.7%)
Indonesia$3.13M (544%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Padlocks BY South Korea WERE (2021 - 2022):
China-$10.6M (-39.3%)
Russia-$6.99M (-79.2%)
Hong Kong-$4.7M (-61.7%)
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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 Padlocks were:
China $5.34B
Germany $1.37B
Mexico $1.27B
In 2022, South Korea's main importing competitors in Padlocks were:
United States $3.22B
Germany $1.14B
Mexico $800M

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Trade Value of Padlocks by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $12.3M
TOP IMPORT POTENTIALChina+ $31M

Padlocks’s highest export potential is United States. With an export gap of $12.3M.   Padlocks’s highest import potential is China with an import gap of $31M.

See methodology.

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