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2022
Exports $38.9MWorld Rnk 13 / 126
Flag Rnk 529 / 1204
2022
Destination $1.43M Japan
2021 - 2022
FASTEST GROWING MARKET $1.43MNorth Macedonia
2022
PRODUCT COMPLEXITY IN Casting Machines0.63Rnk 304 / 1025
2022
Imports $68.8MWorld Rnk 12 / 183
Flag Rnk 594 / 1213
2022
Origin $4.95M Japan
2021 - 2022
FASTEST GROWING ORIGIN $4.95MUnited States
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $38.9M in Casting Machines, making it the 13th largest exporter of Casting Machines in the world. At the same year, Casting Machines was the 529th most exported product in South Korea. The main destination of Casting Machines exports from South Korea are: Japan ($6.55M), India ($5.17M), Vietnam ($4.82M), United States ($4.56M), and Mexico ($4.11M).

The fastest growing export markets for Casting Machines of South Korea between 2021 and 2022 were North Macedonia ($1.43M), India ($948k), and Vietnam ($678k).

Imports In 2022, South Korea imported $68.8M in Casting Machines, becoming the 12th largest importer of Casting Machines in the world. At the same year, Casting Machines was the 594th most imported product in South Korea. South Korea imports Casting Machines primarily from: Japan ($23M), China ($19.9M), United States ($9.88M), Germany ($4.93M), and Indonesia ($3.29M).

The fastest growing import markets in Casting Machines for South Korea between 2021 and 2022 were United States ($4.95M), China ($4.35M), and Canada ($1.51M).

COMPANIES In 2023, leading companies such as CNH Industrial (118), General Motors (20), and Haas Automation (3) were at the forefront of shipping Casting Machines from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Casting Machines exports accounted up to $2.07M and imports accounted up to $7.06M, resulting in a negative trade balance of $4.99M. Between July 2023 and July 2024 the exports of South Korea's   Casting Machines have decreased by $-958k (-31.7%) from $3.03M to $2.07M, while imports increased by $4.07M (136%) from $2.99M to $7.06M.

Destinations In July 2024, Casting Machines were exported mostly to Turkey ($587k), Indonesia ($309k), Vietnam ($307k), Mexico ($202k), and Chinese Taipei ($165k), and were imported mostly from Japan ($3.03M), China ($1.98M), Italy ($1.2M), Thailand ($258k), and United States ($248k).

Growth In July 2024, the decrease in Casting Machines's year-by-year exports was explained primarily by a decrease in exports to Japan ($-510k or -81.6%), Vietnam ($-342k or -44.8%), and India ($-180k or -23.8%). In July 2024, the increase in Casting Machines's year-by-year imports was explained primarily by an increase in imports from Japan ($352k or 35.9%), Indonesia ($178k or 148%), and United States ($137k or 334%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-958k(-31.7%)
IMPORT GROWTH (July 2023 - July 2024)$4.07M(136%)
MAIN DESTINATION (July 2024)Turkey$587k

This section shows Casting Machines'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 Casting Machines over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$38.9M
IMPORTS (2022)$68.8M
NET TRADE (2022)-$29.9M

In 2022, South Korea exported $38.9M in Casting Machines. The main destinations of South Korea exports on Casting Machines were Japan ($6.55M), India ($5.17M), Vietnam ($4.82M), United States ($4.56M), and Mexico ($4.11M).

In 2022, South Korea imported $68.8M in Casting Machines, mainly from Japan ($23M), China ($19.9M), United States ($9.88M), Germany ($4.93M), and Indonesia ($3.29M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Casting Machines EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
North Macedonia$1.43M (1%)
India$948k (22.5%)
Vietnam$678k (16.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Casting Machines BY South Korea WERE (2021 - 2022):
United States-$18.1M (-79.9%)
Japan-$7.87M (-54.6%)
China-$5.04M (-71.3%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Casting Machines were:
China $862M
Italy $360M
Japan $267M
In 2022, South Korea's main importing competitors in Casting Machines were:
United States $350M
India $239M
China $234M

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Trade Value of Casting Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $2.14M
TOP IMPORT POTENTIALChina+ $7.14M

Casting Machines’s highest export potential is China. With an export gap of $2.14M.   Casting Machines’s highest import potential is China with an import gap of $7.14M.

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