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2022
Exports $144MWorld Rnk 14 / 159
Flag Rnk 328 / 1204
2022
Destination $10.4M Russia
2021 - 2022
FASTEST GROWING MARKET $10.4MRussia
2022
PRODUCT COMPLEXITY IN Special purpose motor vehicles0.29Rnk 457 / 1025
2022
Imports $77.7MWorld Rnk 43 / 220
Flag Rnk 565 / 1213
2022
Origin $1.64M Germany
2021 - 2022
FASTEST GROWING ORIGIN $1.64MThailand
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $144M in Special purpose motor vehicles, making it the 14th largest exporter of Special purpose motor vehicles in the world. At the same year, Special purpose motor vehicles was the 328th most exported product in South Korea. The main destination of Special purpose motor vehicles exports from South Korea are: Russia ($24.8M), Philippines ($21M), Saudi Arabia ($16.8M), Kuwait ($12.4M), and Vietnam ($11.7M).

The fastest growing export markets for Special purpose motor vehicles of South Korea between 2021 and 2022 were Russia ($10.4M), Kuwait ($10.3M), and United Arab Emirates ($6.39M).

Imports In 2022, South Korea imported $77.7M in Special purpose motor vehicles, becoming the 43rd largest importer of Special purpose motor vehicles in the world. At the same year, Special purpose motor vehicles was the 565th most imported product in South Korea. South Korea imports Special purpose motor vehicles primarily from: Germany ($51.3M), United States ($9.72M), Austria ($3.29M), Italy ($1.99M), and China ($1.84M).

The fastest growing import markets in Special purpose motor vehicles for South Korea between 2021 and 2022 were Thailand ($1.64M), Saudi Arabia ($988k), and Croatia ($862k).

COMPANIES In 2023, leading companies such as General Motors (233), LG Electronics (18), and Volvo (12) were at the forefront of shipping Special purpose motor vehicles from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Special purpose motor vehicles exports accounted up to $12.5M and imports accounted up to $8.06M, resulting in a positive trade balance of $4.42M. Between October 2023 and October 2024 the exports of South Korea's   Special purpose motor vehicles have increased by $1.34M (12%) from $11.1M to $12.5M, while imports decreased by $-6.66M (-45.2%) from $14.7M to $8.06M.

Destinations In October 2024, Special purpose motor vehicles were exported mostly to Saudi Arabia ($2.77M), Vietnam ($2.22M), Mozambique ($1.07M), Kuwait ($1.05M), and Colombia ($914k), and were imported mostly from Germany ($5.74M), China ($1.59M), United States ($670k), Japan ($59k), and Ghana ($0).

Growth In October 2024, the increase in Special purpose motor vehicles's year-by-year exports was explained primarily by an increase in exports to Philippines ($4.05M or 1.11k%), Russia ($947k or 61%), and United Arab Emirates ($898k or 120%). In October 2024, the decrease in Special purpose motor vehicles's year-by-year imports was explained primarily by a decrease in imports from Germany ($-14.9M or -88.8%), United States ($-2.7M or -94.9%), and Japan ($-43k or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$1.34M(12%)
IMPORT GROWTH (October 2023 - October 2024)$-6.66M(-45.2%)
MAIN DESTINATION (October 2024)Saudi Arabia$2.77M

This section shows Special purpose motor vehicles'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 Special purpose motor vehicles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$144M
IMPORTS (2022)$77.7M
NET TRADE (2022)$66M

In 2022, South Korea exported $144M in Special purpose motor vehicles. The main destinations of South Korea exports on Special purpose motor vehicles were Russia ($24.8M), Philippines ($21M), Saudi Arabia ($16.8M), Kuwait ($12.4M), and Vietnam ($11.7M).

In 2022, South Korea imported $77.7M in Special purpose motor vehicles, mainly from Germany ($51.3M), United States ($9.72M), Austria ($3.29M), Italy ($1.99M), and China ($1.84M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Special purpose motor vehicles EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Russia$10.4M (71.9%)
Kuwait$10.3M (504%)
United Arab Emirates$6.39M (131%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Special purpose motor vehicles BY South Korea WERE (2021 - 2022):
Vietnam-$15M (-56.2%)
Philippines-$11.9M (-36.1%)
Uzbekistan-$9.09M (-63.1%)
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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 Special purpose motor vehicles were:
Germany $3.89B
China $2.11B
United States $1.52B
In 2022, South Korea's main importing competitors in Special purpose motor vehicles were:
United States $1.05B
Canada $892M
France $627M

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Trade Value of Special purpose motor vehicles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $2.24M
TOP IMPORT POTENTIALChina+ $3.79M

Special purpose motor vehicles’s highest export potential is Japan. With an export gap of $2.24M.   Special purpose motor vehicles’s highest import potential is China with an import gap of $3.79M.

See methodology.

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