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2022
Exports $52.8MWorld Rnk 29 / 178
Flag Rnk 476 / 1204
2022
Destination $1.38M United States
2021 - 2022
FASTEST GROWING MARKET $1.38MUnited States
2022
PRODUCT COMPLEXITY IN Soil Preparation Machinery0.69Rnk 279 / 1025
2022
Imports $117MWorld Rnk 24 / 211
Flag Rnk 475 / 1213
2022
Origin $6.83M Japan
2021 - 2022
FASTEST GROWING ORIGIN $6.83MJapan
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $52.8M in Soil Preparation Machinery, making it the 29th largest exporter of Soil Preparation Machinery in the world. At the same year, Soil Preparation Machinery was the 476th most exported product in South Korea. The main destination of Soil Preparation Machinery exports from South Korea are: United States ($28.5M), Japan ($11.2M), Canada ($1.89M), Australia ($1.77M), and Malaysia ($1.09M).

The fastest growing export markets for Soil Preparation Machinery of South Korea between 2021 and 2022 were United States ($1.38M), Canada ($923k), and Malaysia ($861k).

Imports In 2022, South Korea imported $117M in Soil Preparation Machinery, becoming the 24th largest importer of Soil Preparation Machinery in the world. At the same year, Soil Preparation Machinery was the 475th most imported product in South Korea. South Korea imports Soil Preparation Machinery primarily from: Japan ($72.4M), China ($28.5M), Italy ($5.73M), United States ($3.63M), and Netherlands ($1.76M).

The fastest growing import markets in Soil Preparation Machinery for South Korea between 2021 and 2022 were Japan ($6.83M), China ($2M), and United States ($398k).

COMPANIES In 2023, leading companies such as Stanley Black & Decker (2) and Robert Bosch (1) were at the forefront of shipping Soil Preparation Machinery from South Korea to the United States.

Latest Trends

November 2024

About

Overview In November 2024 South Korea's Soil Preparation Machinery exports accounted up to $3.61M and imports accounted up to $5.03M, resulting in a negative trade balance of $1.41M. Between November 2023 and November 2024 the exports of South Korea's   Soil Preparation Machinery have increased by $956k (36%) from $2.66M to $3.61M, while imports decreased by $-1.6M (-24.1%) from $6.62M to $5.03M.

Destinations In November 2024, Soil Preparation Machinery were exported mostly to United States ($1.37M), Japan ($882k), Philippines ($793k), Canada ($127k), and China ($126k), and were imported mostly from Japan ($3.42M), China ($771k), United States ($362k), Germany ($163k), and Italy ($99k).

Growth In November 2024, the increase in Soil Preparation Machinery's year-by-year exports was explained primarily by an increase in exports to Malaysia ($27k or 43.5%) and Thailand ($17k or 121%). In November 2024, the decrease in Soil Preparation Machinery's year-by-year imports was explained primarily by a decrease in imports from China ($-1.08M or -41.3%), United States ($-63k or -52.9%), and Australia ($-51k or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$956k(36%)
IMPORT GROWTH (November 2023 - November 2024)$-1.6M(-24.1%)
MAIN DESTINATION (November 2024)United States$1.37M

This section shows Soil Preparation 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 Soil Preparation Machinery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$52.8M
IMPORTS (2022)$117M
NET TRADE (2022)-$64.1M

In 2022, South Korea exported $52.8M in Soil Preparation Machinery. The main destinations of South Korea exports on Soil Preparation Machinery were United States ($28.5M), Japan ($11.2M), Canada ($1.89M), Australia ($1.77M), and Malaysia ($1.09M).

In 2022, South Korea imported $117M in Soil Preparation Machinery, mainly from Japan ($72.4M), China ($28.5M), Italy ($5.73M), United States ($3.63M), and Netherlands ($1.76M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soil Preparation Machinery EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$1.38M (5.11%)
Canada$923k (95.2%)
Malaysia$861k (378%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soil Preparation Machinery BY South Korea WERE (2021 - 2022):
Singapore-$15.9M (-97.6%)
Philippines-$1.27M (-79.1%)
Thailand-$470k (-56.4%)
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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 Soil Preparation Machinery were:
Germany $2.11B
China $1.21B
Italy $1.12B
In 2022, South Korea's main importing competitors in Soil Preparation Machinery were:
United States $1.7B
Germany $957M
France $950M

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Trade Value of Soil Preparation Machinery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.53M
TOP IMPORT POTENTIALChina+ $10.6M

Soil Preparation Machinery’s highest export potential is United States. With an export gap of $2.53M.   Soil Preparation Machinery’s highest import potential is China with an import gap of $10.6M.

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