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2023
Exports $47.3MWorld Rnk 9 / 171
Flag Rnk 457 / 1188
2023
Destination $1.2M United States
2022 - 2023
FASTEST GROWING MARKET $1.2MChina
2023
PRODUCT COMPLEXITY IN Sound Recording Equipment0.41Rnk 405 / 1025
2023
Imports $29.4MWorld Rnk 26 / 209
Flag Rnk 735 / 1208
2023
Origin $903k China
2022 - 2023
FASTEST GROWING ORIGIN $903kUnited States
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $47.3M in Sound Recording Equipment, making it the 9th largest exporter of Sound Recording Equipment in the world. At the same year, Sound Recording Equipment was the 457th most exported product in South Korea. The main destination of Sound Recording Equipment exports from South Korea are: United States ($11.5M), Hong Kong ($5.93M), Netherlands ($5.65M), China ($3.34M), and United Kingdom ($2.99M).

The fastest growing export markets for Sound Recording Equipment of South Korea between 2022 and 2023 were China ($1.2M), Hong Kong ($926k), and Belgium ($562k).

Imports In 2023, South Korea imported $29.4M in Sound Recording Equipment, becoming the 26th largest importer of Sound Recording Equipment in the world. At the same year, Sound Recording Equipment was the 735th most imported product in South Korea. South Korea imports Sound Recording Equipment primarily from: China ($18.9M), United States ($3.26M), United Kingdom ($1.78M), Hong Kong ($1.19M), and Germany ($988k).

The fastest growing import markets in Sound Recording Equipment for South Korea between 2022 and 2023 were United States ($903k), Hong Kong ($809k), and United Kingdom ($472k).

COMPANIES In 2024, leading companies such as Volvo (21), Ford Motor Company (13), and LG Electronics (8) were at the forefront of shipping Sound Recording Equipment from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Sound Recording Equipment exports accounted up to $3.05M and imports accounted up to $3.51M, resulting in a negative trade balance of $459k. Between December 2023 and December 2024 the exports of South Korea's   Sound Recording Equipment have decreased by $-400k (-11.6%) from $3.45M to $3.05M, while imports increased by $242k (7.41%) from $3.26M to $3.51M.

Destinations In December 2024, Sound Recording Equipment were exported mostly to China ($766k), United States ($709k), Hong Kong ($363k), United Kingdom ($161k), and Germany ($144k), and were imported mostly from China ($3.06M), United States ($109k), Japan ($108k), Germany ($53k), and Malaysia ($47k).

Growth In December 2024, the decrease in Sound Recording Equipment's year-by-year exports was explained primarily by a decrease in exports to Hong Kong ($-397k or -60%), France ($-159k or -83.2%), and Austria ($-141k or -100%). In December 2024, the increase in Sound Recording Equipment's year-by-year imports was explained primarily by an increase in imports from China ($375k or 18.8%), Japan ($53k or 38.7%), and Germany ($17k or 70.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-400k(-11.6%)
IMPORT GROWTH (December 2023 - December 2024)$242k(7.41%)
MAIN DESTINATION (December 2024)China$766k

This section shows Sound Recording Equipment'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 Sound Recording Equipment over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$47.3M
IMPORTS (2023)$29.4M
NET TRADE (2023)$17.9M

In 2023, South Korea exported $47.3M in Sound Recording Equipment. The main destinations of South Korea exports on Sound Recording Equipment were United States ($11.5M), Hong Kong ($5.93M), Netherlands ($5.65M), China ($3.34M), and United Kingdom ($2.99M).

In 2023, South Korea imported $29.4M in Sound Recording Equipment, mainly from China ($18.9M), United States ($3.26M), United Kingdom ($1.78M), Hong Kong ($1.19M), and Germany ($988k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Sound Recording Equipment EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
China$1.2M (56.1%)
Hong Kong$926k (18.5%)
Belgium$562k (549%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Sound Recording Equipment BY South Korea WERE (2022 - 2023):
Netherlands-$12.9M (-69.5%)
Saudi Arabia-$1.9M (-78.6%)
United States-$1.72M (-13%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Sound Recording Equipment were:
China $2.14B
Vietnam $402M
Netherlands $211M
In 2023, South Korea's main importing competitors in Sound Recording Equipment were:
United States $1.01B
Germany $388M
Netherlands $243M

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Trade Value of Sound Recording Equipment by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.69M
TOP IMPORT POTENTIALChina+ $8.37M

Sound Recording Equipment’s highest export potential is United States. With an export gap of $2.69M.   Sound Recording Equipment’s highest import potential is China with an import gap of $8.37M.

See methodology.

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