Machinery and appliances in South Korea

2019
Exports | Imports
: $71.1B | $44.5B, World Rnk 8 / 225
Flag Rnk 2 / 96 | World Rnk 13 / 225
Flag Rnk 3 / 96

2019
Destination | Origin
: $18.3B | $14.2B, China | China

2018 - 2019
FASTEST GROWING MARKET |  FASTEST GROWING ORIGIN
: $966M | $448M, Kazakhstan |  Vietnam

2019
ECONOMIC COMPLEXITY of South Korea
: 1.98, Rnk 5 / 157

2019
PRODUCT COMPLEXITY  IN Machinery and appliances
: 1.95, Rnk 3 / 96

Exports: In 2019, South Korea exported $71.1B in Machinery and appliances, making it the 8th largest exporter of Machinery and appliances in the world. At the same year, Machinery and appliances was the 2nd most exported product in South Korea. The main destination of Machinery and appliances exports from South Korea are: China ($18.3B), United States ($15.2B), Japan ($3.5B), Vietnam ($3.15B), and India ($2.18B).

The fastest growing export markets for Machinery and appliances of South Korea between 2018 and 2019 were Kazakhstan ($966M), Poland ($532M), and Hungary ($224M).

Imports: In 2019, South Korea imported $44.5B in Machinery and appliances, becoming the 13th largest importer of Machinery and appliances in the world. At the same year, Machinery and appliances was the 3rd most imported product in South Korea. South Korea imports Machinery and appliances primarily from: China ($14.2B), Japan ($6.91B), United States ($4.99B), Germany ($3.54B), and Singapore ($1.48B).

The fastest growing import markets in Machinery and appliances for South Korea between 2018 and 2019 were Vietnam ($448M), Philippines ($382M), and Mexico ($160M).

Tariffs: In 2018, the average tariff for South Korea in Machinery and appliances was 4.09%. The countries with the highest import tariffs for Machinery and appliances were Cameroon (7.2%), Algeria (7.2%), Egypt (7.2%), Ghana (7.2%), and Libya (7.2%).

Overview: In February 2021 South Korea's Machinery and appliances exports accounted up to N/A5.38B and imports accounted up to N/A4.94B, resulting in a positive trade balance of N/A445M. Between February 2020 and February 2021 the exports of South Korea's   Machinery and appliances have decreased by N/A-12.1M (-0.22%) from N/A5.4B to N/A5.38B, while imports increased by N/A1.26B (34.3%) from N/A3.68B to N/A4.94B.

Destinations: In February 2021 Machinery and appliances exported mostly to China ($1.4B), United States ($1.31B), Vietnam ($276M), Japan ($238M), and Hong Kong ($162M), and imported mostly from China ($1.28B), Japan ($889M), United States ($771M), Netherlands ($398M), and Singapore ($269M).

Growth: In February 2021, the decrease in Machinery and appliances's year-by-year exports was explained primarily by a decrease in exports to Kazakhstan ($-250M or -97.8%), India ($-89.3M or -38.9%), and United Arab Emirates ($-62.6M or -64.4%). In February 2021, the increase in Machinery and appliances's year-by-year imports was explained primarily by an increase in imports from China ($589M or 84.7%), United States ($173M or 28.8%), and Netherlands ($173M or 76.5%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (February 2020 - February 2021): N/A-12.1M, (-0.22%)

IMPORT GROWTH (February 2020 - February 2021): N/A1.26B, (34.3%)

MAIN DESTINATION (February 2021): China, $1.4B

This section shows Machinery and appliances'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 Machinery and appliances over time.

Value

EXPORTS (2019): $71.1B

IMPORTS (2019): $44.5B

NET TRADE (2019): $26.6B

In 2019, South Korea exported $71.1B in Machinery and appliances. The main destinations of South Korea exports on Machinery and appliances were China ($18.3B), United States ($15.2B), Japan ($3.5B), Vietnam ($3.15B), and India ($2.18B).

In 2019, South Korea imported $44.5B in Machinery and appliances, mainly from China ($14.2B), Japan ($6.91B), United States ($4.99B), Germany ($3.54B), and Singapore ($1.48B).

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IN 2019, South Korea HAD A POSITIVE NET TRADE IN Machinery and appliances WITH:

IN 2019, South Korea HAD A NEGATIVE NET TRADE IN Machinery and appliances WITH:

Flow

THE FASTEST GROWING Machinery and appliances EXPORT MARKETS FOR South Korea WERE (2018 - 2019):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Machinery and appliances BY South Korea WERE (2018 - 2019):

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Market Concentration

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Flow
Type

In 2018, South Korea's main exporting competitors in Machinery and appliances were:

In 2018, South Korea's main importing competitors in Machinery and appliances were:

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Tariffs by Country

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In 2018, the average tariff for South Korea in Machinery and appliances was 4.09%.

The countries with the highest tariffs for Machinery and appliances in South Korea were Cameroon (7.2%), Algeria (7.2%), Egypt (7.2%), Ghana (7.2%), and Libya (7.2%).

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