2023
Exports
$14.8MWorld Rnk 11 / 187
Flag Rnk 646 / 1188
2023
PRODUCT COMPLEXITY IN Tool Sets
1.14Rnk 126 / 1025
2023
Imports
$13.7MWorld Rnk 25 / 219
Flag Rnk 852 / 1208
2023
ECONOMIC COMPLEXITY of South Korea
1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $14.8M in Tool Sets, making it the 11th largest exporter of Tool Sets in the world. At the same year, Tool Sets was the 646th most exported product in South Korea. The main destination of Tool Sets exports from South Korea are: Malaysia ($9.87M), United Arab Emirates ($1.62M), Netherlands ($569k), United States ($545k), and Hong Kong ($399k).

The fastest growing export markets for Tool Sets of South Korea between 2022 and 2023 were Malaysia ($6.28M), United Arab Emirates ($1.37M), and Hong Kong ($354k).

Imports In 2023, South Korea imported $13.7M in Tool Sets, becoming the 25th largest importer of Tool Sets in the world. At the same year, Tool Sets was the 852nd most imported product in South Korea. South Korea imports Tool Sets primarily from: China ($8.92M), Chinese Taipei ($1.24M), United States ($1.15M), Germany ($530k), and Japan ($525k).

The fastest growing import markets in Tool Sets for South Korea between 2022 and 2023 were China ($3.66M), Singapore ($139k), and Spain ($134k).

Latest Trends

January 2025

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (January 2024 - January 2025)$-157k(-27.8%)
IMPORT GROWTH (January 2024 - January 2025)$-169k(-15.7%)
MAIN DESTINATION (January 2025)United States$138k

This section shows Tool Sets'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 Tool Sets over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$14.8M
IMPORTS (2023)$13.7M
NET TRADE (2023)$1.11M

In 2023, South Korea exported $14.8M in Tool Sets. The main destinations of South Korea exports on Tool Sets were Malaysia ($9.87M), United Arab Emirates ($1.62M), Netherlands ($569k), United States ($545k), and Hong Kong ($399k).

In 2023, South Korea imported $13.7M in Tool Sets, mainly from China ($8.92M), Chinese Taipei ($1.24M), United States ($1.15M), Germany ($530k), and Japan ($525k).

Explore Visualizations

Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Tool Sets EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Malaysia$6.28M (175%)
Hong Kong$354k (795%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Tool Sets BY South Korea WERE (2022 - 2023):
United States-$1.98M (-78.4%)
Vietnam-$1.21M (-100%)
Saudi Arabia-$891k (-99.8%)

Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Tool Sets were:
In 2023, South Korea's main importing competitors in Tool Sets were:

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Trade Value of Tool Sets by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $293k
TOP IMPORT POTENTIALChina+ $2.49M

Tool Sets’s highest export potential is China. With an export gap of $293k.   Tool Sets’s highest import potential is China with an import gap of $2.49M.

See methodology.

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