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2022
Exports $246MWorld Rnk 5 / 78
Flag Rnk 243 / 1204
2022
Destination $147M Poland
2021 - 2022
FASTEST GROWING MARKET $147MPoland
2022
PRODUCT COMPLEXITY IN Tanks and Armored vehicles-0.46Rnk 688 / 1025
2022
Imports $65.4MWorld Rnk 18 / 130
Flag Rnk 613 / 1213
2022
Origin $9.28M Germany
2021 - 2022
FASTEST GROWING ORIGIN $9.28MAustralia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $246M in Tanks and Armored vehicles, making it the 5th largest exporter of Tanks and Armored vehicles in the world. At the same year, Tanks and Armored vehicles was the 243rd most exported product in South Korea. The main destination of Tanks and Armored vehicles exports from South Korea are: Poland ($188M), Saudi Arabia ($17.3M), Turkey ($8.46M), United States ($7.86M), and Australia ($7.16M).

The fastest growing export markets for Tanks and Armored vehicles of South Korea between 2021 and 2022 were Poland ($147M), Saudi Arabia ($11.2M), and Turkey ($8.24M).

Imports In 2022, South Korea imported $65.4M in Tanks and Armored vehicles, becoming the 18th largest importer of Tanks and Armored vehicles in the world. At the same year, Tanks and Armored vehicles was the 613th most imported product in South Korea. South Korea imports Tanks and Armored vehicles primarily from: Germany ($31.4M), United States ($13.8M), Australia ($9.41M), Canada ($4.13M), and Israel ($3.99M).

The fastest growing import markets in Tanks and Armored vehicles for South Korea between 2021 and 2022 were Australia ($9.28M), Canada ($4.13M), and Israel ($991k).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Tanks and Armored vehicles exports accounted up to $6.78M and imports accounted up to $12.6M, resulting in a negative trade balance of $5.82M. Between October 2023 and October 2024 the exports of South Korea's   Tanks and Armored vehicles have decreased by $-5.78M (-46%) from $12.6M to $6.78M, while imports decreased by $-3.07M (-19.6%) from $15.7M to $12.6M.

Destinations In October 2024, Tanks and Armored vehicles were exported mostly to Poland ($3.8M), Turkey ($987k), United States ($607k), Germany ($503k), and Norway ($438k), and were imported mostly from Germany ($11M), United Kingdom ($881k), United States ($688k), Canada ($50k), and Israel ($0).

Growth In October 2024, the decrease in Tanks and Armored vehicles's year-by-year exports was explained primarily by a decrease in exports to Spain ($-12k or -25.5%) and Israel ($-6k or -100%). In October 2024, the decrease in Tanks and Armored vehicles's year-by-year imports was explained primarily by a decrease in imports from Israel ($-311k or -56.2%) and Singapore ($-22k or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-5.78M(-46%)
IMPORT GROWTH (October 2023 - October 2024)$-3.07M(-19.6%)
MAIN DESTINATION (October 2024)Poland$3.8M

This section shows Tanks and Armored 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 Tanks and Armored vehicles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$246M
IMPORTS (2022)$65.4M
NET TRADE (2022)$181M

In 2022, South Korea exported $246M in Tanks and Armored vehicles. The main destinations of South Korea exports on Tanks and Armored vehicles were Poland ($188M), Saudi Arabia ($17.3M), Turkey ($8.46M), United States ($7.86M), and Australia ($7.16M).

In 2022, South Korea imported $65.4M in Tanks and Armored vehicles, mainly from Germany ($31.4M), United States ($13.8M), Australia ($9.41M), Canada ($4.13M), and Israel ($3.99M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Tanks and Armored vehicles EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Poland$147M (356%)
Saudi Arabia$11.2M (186%)
Turkey$8.24M (3.63k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Tanks and Armored vehicles BY South Korea WERE (2021 - 2022):
Iraq-$38.3M (-100%)
Finland-$6.21M (-80.2%)
Nigeria-$6.11M (-100%)
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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 Tanks and Armored vehicles were:
United States $954M
Canada $954M
Germany $377M
In 2022, South Korea's main importing competitors in Tanks and Armored vehicles were:
Saudi Arabia $674M
United States $379M
Kuwait $304M

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Trade Value of Tanks and Armored vehicles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $4.67M
TOP IMPORT POTENTIALCanada+ $2.05M

Tanks and Armored vehicles’s highest export potential is United States. With an export gap of $4.67M.   Tanks and Armored vehicles’s highest import potential is Canada with an import gap of $2.05M.

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