Instruments and apparatus in South Korea

2019
Exports | Imports
: $23.1B | $23.7B, World Rnk 7 / 225
Flag Rnk 7 / 96 | World Rnk 7 / 225
Flag Rnk 4 / 96

2019
Destination | Origin
: $11.4B | $5.64B, China | United States

2018 - 2019
FASTEST GROWING MARKET |  FASTEST GROWING ORIGIN
: $67.6M | $63.8M, Japan |  United Kingdom

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

2019
PRODUCT COMPLEXITY  IN Instruments and apparatus
: 1.92, Rnk 4 / 96

Exports: In 2019, South Korea exported $23.1B in Instruments and apparatus, making it the 7th largest exporter of Instruments and apparatus in the world. At the same year, Instruments and apparatus was the 7th most exported product in South Korea. The main destination of Instruments and apparatus exports from South Korea are: China ($11.4B), Vietnam ($3.13B), United States ($1.56B), Japan ($818M), and Chinese Taipei ($508M).

The fastest growing export markets for Instruments and apparatus of South Korea between 2018 and 2019 were Japan ($67.6M), Uzbekistan ($39.3M), and Russia ($34.9M).

Imports: In 2019, South Korea imported $23.7B in Instruments and apparatus, becoming the 7th largest importer of Instruments and apparatus in the world. At the same year, Instruments and apparatus was the 4th most imported product in South Korea. South Korea imports Instruments and apparatus primarily from: United States ($5.64B), Japan ($4.97B), China ($3.55B), Germany ($1.72B), and Netherlands ($1.68B).

The fastest growing import markets in Instruments and apparatus for South Korea between 2018 and 2019 were United Kingdom ($63.8M), Norway ($57.5M), and Malaysia ($46.3M).

Tariffs: In 2018, the average tariff for South Korea in Instruments and apparatus was 4.38%. The countries with the highest import tariffs for Instruments and apparatus were Botswana (7%), Cote d'Ivoire (7%), Cameroon (7%), Republic of the Congo (7%), and Cape Verde (7%).

Overview: In February 2021 South Korea's Instruments and apparatus exports accounted up to N/A1.69B and imports accounted up to N/A1.81B, resulting in a negative trade balance of N/A111M. Between February 2020 and February 2021 the exports of South Korea's   Instruments and apparatus have increased by N/A259M (18.1%) from N/A1.43B to N/A1.69B, while imports increased by N/A368M (25.6%) from N/A1.44B to N/A1.81B.

Destinations: In February 2021 Instruments and apparatus exported mostly to China ($837M), Vietnam ($223M), United States ($141M), Japan ($50.9M), and Hong Kong ($42.3M), and imported mostly from United States ($432M), Japan ($370M), China ($227M), Germany ($156M), and Singapore ($88.8M).

Growth: In February 2021, the increase in Instruments and apparatus's year-by-year exports was explained primarily by an increase in exports to China ($256M or 44.1%), United States ($13.4M or 10.5%), and Hungary ($10.9M or 181%). In February 2021, the increase in Instruments and apparatus's year-by-year imports was explained primarily by an increase in imports from Japan ($98.6M or 36.4%), United States ($86.7M or 25.1%), and China ($86.1M or 61.3%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (February 2020 - February 2021): N/A259M, (18.1%)

IMPORT GROWTH (February 2020 - February 2021): N/A368M, (25.6%)

MAIN DESTINATION (February 2021): China, $837M

This section shows Instruments and apparatus'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 Instruments and apparatus over time.

Value

EXPORTS (2019): $23.1B

IMPORTS (2019): $23.7B

NET TRADE (2019): -$607M

In 2019, South Korea exported $23.1B in Instruments and apparatus. The main destinations of South Korea exports on Instruments and apparatus were China ($11.4B), Vietnam ($3.13B), United States ($1.56B), Japan ($818M), and Chinese Taipei ($508M).

In 2019, South Korea imported $23.7B in Instruments and apparatus, mainly from United States ($5.64B), Japan ($4.97B), China ($3.55B), Germany ($1.72B), and Netherlands ($1.68B).

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IN 2019, South Korea HAD A POSITIVE NET TRADE IN Instruments and apparatus WITH:

IN 2019, South Korea HAD A NEGATIVE NET TRADE IN Instruments and apparatus WITH:

Flow

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

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

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Market Concentration

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Type

In 2018, South Korea's main exporting competitors in Instruments and apparatus were:

In 2018, South Korea's main importing competitors in Instruments and apparatus were:

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Tariffs by Country

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In 2018, the average tariff for South Korea in Instruments and apparatus was 4.38%.

The countries with the highest tariffs for Instruments and apparatus in South Korea were Botswana (7%), Cote d'Ivoire (7%), Cameroon (7%), Republic of the Congo (7%), and Cape Verde (7%).

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