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2022
Exports $1.3BWorld Rnk 7 / 194
Flag Rnk 35 / 96
2022
Destination $155M Chinese Taipei
2021 - 2022
FASTEST GROWING MARKET $155MIreland
2022
PRODUCT COMPLEXITY IN Railway and trams1.48Rnk 58 / 1025
2022
Imports $438MWorld Rnk 26 / 217
Flag Rnk 69 / 96
2022
Origin $12.4M China
2021 - 2022
FASTEST GROWING ORIGIN $12.4MUnited States
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $1.3B in Railway and trams, making it the 7th largest exporter of Railway and trams in the world. At the same year, Railway and trams was the 35th most exported product in South Korea. The main destination of Railway and trams exports from South Korea are: Chinese Taipei ($345M), Australia ($186M), Ireland ($155M), United States ($104M), and Poland ($79.9M).

The fastest growing export markets for Railway and trams of South Korea between 2021 and 2022 were Ireland ($155M), Chinese Taipei ($103M), and United States ($67M).

Imports In 2022, South Korea imported $438M in Railway and trams, becoming the 26th largest importer of Railway and trams in the world. At the same year, Railway and trams was the 69th most imported product in South Korea. South Korea imports Railway and trams primarily from: China ($187M), United States ($71.4M), Austria ($38.8M), Japan ($25.2M), and Germany ($19.9M).

The fastest growing import markets in Railway and trams for South Korea between 2021 and 2022 were United States ($12.4M), Japan ($7.79M), and Singapore ($5.65M).

COMPANIES In 2023, leading companies such as Hankook Tires (192), LG Electronics (139), and General Motors (83) were at the forefront of shipping Railway and trams from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Railway and trams exports accounted up to $134M and imports accounted up to $28.9M, resulting in a positive trade balance of $105M. Between October 2023 and October 2024 the exports of South Korea's   Railway and trams have increased by $42.6M (46.6%) from $91.4M to $134M, while imports increased by $4.84M (20.1%) from $24M to $28.9M.

Destinations In October 2024, Railway and trams were exported mostly to Australia ($50.7M), Tanzania ($36.9M), Philippines ($23.3M), Netherlands ($7.8M), and United States ($3.05M), and were imported mostly from China ($13.2M), United States ($3.19M), Germany ($2.34M), Singapore ($1.76M), and Japan ($1.56M).

Growth In October 2024, the increase in Railway and trams's year-by-year exports was explained primarily by an increase in exports to Australia ($26.6M or 20.3k%), Turkey ($835k or 3.98k%), and United States ($641k or 22.8%). In October 2024, the increase in Railway and trams's year-by-year imports was explained primarily by an increase in imports from Singapore ($1.75M or 1.1k%), Netherlands ($354k or 17.9%), and Thailand ($270k or 197%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$42.6M(46.6%)
IMPORT GROWTH (October 2023 - October 2024)$4.84M(20.1%)
MAIN DESTINATION (October 2024)Australia$50.7M

This section shows Railway and trams'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 Railway and trams over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.3B
IMPORTS (2022)$438M
NET TRADE (2022)$863M

In 2022, South Korea exported $1.3B in Railway and trams. The main destinations of South Korea exports on Railway and trams were Chinese Taipei ($345M), Australia ($186M), Ireland ($155M), United States ($104M), and Poland ($79.9M).

In 2022, South Korea imported $438M in Railway and trams, mainly from China ($187M), United States ($71.4M), Austria ($38.8M), Japan ($25.2M), and Germany ($19.9M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Railway and trams EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Ireland$155M (286k%)
Chinese Taipei$103M (42.5%)
United States$67M (179%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Railway and trams BY South Korea WERE (2021 - 2022):
Hong Kong-$334M (-82.1%)
Egypt-$138M (-65.1%)
Tunisia-$78.3M (-99.9%)
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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 Railway and trams were:
China $9.83B
United States $3.41B
Germany $3.35B
In 2022, South Korea's main importing competitors in Railway and trams were:
United States $4.08B
Germany $3.47B
Canada $1.66B

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Trade Value of Railway and trams by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $12.9M
TOP IMPORT POTENTIALChina+ $38.9M

Railway and trams’s highest export potential is United States. With an export gap of $12.9M.   Railway and trams’s highest import potential is China with an import gap of $38.9M.

See methodology.

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