Valves in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $2.09B in Valves, making it the 11th largest exporter of Valves in the world. At the same year, Valves was the 53rd most exported product in South Korea. The main destination of Valves exports from South Korea are: United States ($479M), China ($444M), Japan ($131M), India ($120M), and Mexico ($114M).

The fastest growing export markets for Valves of South Korea between 2021 and 2022 were United States ($97.1M), Mexico ($44.9M), and Chinese Taipei ($27.1M).

Imports In 2022, South Korea imported $2.69B in Valves, becoming the 9th largest importer of Valves in the world. At the same year, Valves was the 31st most imported product in South Korea. South Korea imports Valves primarily from: China ($744M), Japan ($517M), United States ($362M), Germany ($249M), and Vietnam ($105M).

The fastest growing import markets in Valves for South Korea between 2021 and 2022 were China ($67.6M), Germany ($32.4M), and United Kingdom ($26.4M).

COMPANIES In 2023, leading companies such as Ford Motor Company (20), General Motors (12), and SIGMA Corp (9) were at the forefront of shipping Valves from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Valves exports accounted up to $180M and imports accounted up to $218M, resulting in a negative trade balance of $38.2M. Between September 2023 and September 2024 the exports of South Korea's Valves have decreased by $-13.3M (-6.91%) from $193M to $180M, while imports increased by $17.6M (8.81%) from $200M to $218M.

Destinations In September 2024, Valves were exported mostly to United States ($41.8M), China ($40M), India ($13M), Mexico ($11.4M), and Japan ($9.39M), and were imported mostly from China ($60M), Japan ($33.2M), United States ($32.6M), Germany ($17.8M), and Vietnam ($9.5M).

Growth In September 2024, the decrease in Valves's year-by-year exports was explained primarily by a decrease in exports to Mexico ($-9.56M or -57.5%), United States ($-5.37M or -13.4%), and China ($-4.57M or -13.3%). In September 2024, the increase in Valves's year-by-year imports was explained primarily by an increase in imports from United States ($7.06M or 24%), United Kingdom ($4.09M or 70.2%), and Mexico ($2.81M or 186%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (September 2023 - September 2024)$-13.3M(-6.91%)

IMPORT GROWTH (September 2023 - September 2024)$17.6M(8.81%)

MAIN DESTINATION (September 2024)United States$41.8M

This section shows Valves'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 Valves over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$2.09B

IMPORTS (2022)$2.69B

NET TRADE (2022)-$599M

In 2022, South Korea exported $2.09B in Valves. The main destinations of South Korea exports on Valves were United States ($479M), China ($444M), Japan ($131M), India ($120M), and Mexico ($114M).

In 2022, South Korea imported $2.69B in Valves, mainly from China ($744M), Japan ($517M), United States ($362M), Germany ($249M), and Vietnam ($105M).

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