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2023
Exports $1.19BWorld Rnk 18 / 168
Flag Rnk 81 / 1188
2023
Destination $32.6M United States
2022 - 2023
FASTEST GROWING MARKET $32.6MSaudi Arabia
2023
PRODUCT COMPLEXITY IN Tractors0.83Rnk 239 / 1025
2023
Imports $440MWorld Rnk 33 / 214
Flag Rnk 182 / 1208
2023
Origin $16.1M Germany
2022 - 2023
FASTEST GROWING ORIGIN $16.1MUnited Kingdom
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $1.19B in Tractors, making it the 18th largest exporter of Tractors in the world. At the same year, Tractors was the 81st most exported product in South Korea. The main destination of Tractors exports from South Korea are: United States ($883M), Canada ($75M), Saudi Arabia ($45.1M), Australia ($36.5M), and Netherlands ($15.2M).

The fastest growing export markets for Tractors of South Korea between 2022 and 2023 were Saudi Arabia ($32.6M), Spain ($4.19M), and Slovenia ($1.45M).

Imports In 2023, South Korea imported $440M in Tractors, becoming the 33rd largest importer of Tractors in the world. At the same year, Tractors was the 182nd most imported product in South Korea. South Korea imports Tractors primarily from: Germany ($117M), Sweden ($75.6M), Japan ($73.2M), France ($43.5M), and Netherlands ($28.7M).

The fastest growing import markets in Tractors for South Korea between 2022 and 2023 were United Kingdom ($16.1M), Netherlands ($14.5M), and China ($13.6M).

COMPANIES In 2024, leading companies such as CNH Industrial (33), AGCO (11), and LG Electronics (1) were at the forefront of shipping Tractors from South Korea to the United States.

Latest Trends

January 2025

About

Overview In January 2025 South Korea's Tractors exports accounted up to $74.6M and imports accounted up to $40.4M, resulting in a positive trade balance of $34.2M. Between January 2024 and January 2025 the exports of South Korea's   Tractors have decreased by $-1.35M (-1.78%) from $75.9M to $74.6M, while imports increased by $14.5M (56.2%) from $25.8M to $40.4M.

Destinations In January 2025, Tractors were exported mostly to United States ($55M), Netherlands ($4.02M), Canada ($2.24M), United Arab Emirates ($1.26M), and Australia ($1.2M), and were imported mostly from Germany ($13.6M), Poland ($9.3M), Japan ($5.39M), United Kingdom ($4.09M), and Sweden ($4.09M).

Growth In January 2025, the decrease in Tractors's year-by-year exports was explained primarily by a decrease in exports to United States ($-15.5M or -23.3%), Australia ($-3.76M or -73.4%), and Netherlands ($-987k or -48%). In January 2025, the increase in Tractors's year-by-year imports was explained primarily by an increase in imports from United Kingdom ($1.23M or 72.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (January 2024 - January 2025)$-1.35M(-1.78%)
IMPORT GROWTH (January 2024 - January 2025)$14.5M(56.2%)
MAIN DESTINATION (January 2025)United States$55M

This section shows Tractors'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 Tractors over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$1.19B
IMPORTS (2023)$440M
NET TRADE (2023)$749M

In 2023, South Korea exported $1.19B in Tractors. The main destinations of South Korea exports on Tractors were United States ($883M), Canada ($75M), Saudi Arabia ($45.1M), Australia ($36.5M), and Netherlands ($15.2M).

In 2023, South Korea imported $440M in Tractors, mainly from Germany ($117M), Sweden ($75.6M), Japan ($73.2M), France ($43.5M), and Netherlands ($28.7M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Tractors EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Saudi Arabia$32.6M (260%)
Spain$4.19M (103%)
Slovenia$1.45M (49.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Tractors BY South Korea WERE (2022 - 2023):
United States-$136M (-13.3%)
Canada-$34.8M (-31.7%)
Vietnam-$7.19M (-100%)
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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 Tractors were:
Mexico $14.1B
Germany $13.7B
Netherlands $7.47B
In 2023, South Korea's main importing competitors in Tractors were:
United States $19B
Canada $5.94B
France $5.51B

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Trade Value of Tractors by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALCanada+ $21.8M
TOP IMPORT POTENTIALGermany+ $18.7M

Tractors’s highest export potential is Canada. With an export gap of $21.8M.   Tractors’s highest import potential is Germany with an import gap of $18.7M.

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