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2022
Exports $16.1MWorld Rnk 44 / 182
Flag Rnk 670 / 1204
2022
Destination $926k Denmark
2021 - 2022
FASTEST GROWING MARKET $926kDenmark
2022
PRODUCT COMPLEXITY IN Motorcycles and cycles0.36Rnk 420 / 1025
2022
Imports $582MWorld Rnk 18 / 221
Flag Rnk 170 / 1213
2022
Origin $11.5M China
2021 - 2022
FASTEST GROWING ORIGIN $11.5MChinese Taipei
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $16.1M in Motorcycles and cycles, making it the 44th largest exporter of Motorcycles and cycles in the world. At the same year, Motorcycles and cycles was the 670th most exported product in South Korea. The main destination of Motorcycles and cycles exports from South Korea are: Denmark ($3.49M), Cambodia ($2.2M), Germany ($1.64M), Australia ($1.58M), and China ($859k).

The fastest growing export markets for Motorcycles and cycles of South Korea between 2021 and 2022 were Denmark ($926k), China ($794k), and Australia ($770k).

Imports In 2022, South Korea imported $582M in Motorcycles and cycles, becoming the 18th largest importer of Motorcycles and cycles in the world. At the same year, Motorcycles and cycles was the 170th most imported product in South Korea. South Korea imports Motorcycles and cycles primarily from: China ($230M), Vietnam ($80.1M), Thailand ($49.8M), United States ($46.2M), and Germany ($39.8M).

The fastest growing import markets in Motorcycles and cycles for South Korea between 2021 and 2022 were Chinese Taipei ($11.5M), United States ($9.93M), and Indonesia ($8.59M).

COMPANIES In 2023, leading companies such as General Motors (2), Volvo (2), and YAMAHA CORPORATION OF AMERICA (1) were at the forefront of shipping Motorcycles and cycles from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Motorcycles and cycles exports accounted up to $1M and imports accounted up to $37M, resulting in a negative trade balance of $36M. Between July 2023 and July 2024 the exports of South Korea's   Motorcycles and cycles have increased by $358k (55.8%) from $642k to $1M, while imports decreased by $-7.52M (-16.9%) from $44.6M to $37M.

Destinations In July 2024, Motorcycles and cycles were exported mostly to Kyrgyzstan ($299k), Indonesia ($236k), Australia ($152k), Cambodia ($112k), and Russia ($51k), and were imported mostly from China ($13.3M), Thailand ($6.19M), Japan ($3.56M), Vietnam ($3.33M), and United States ($3.09M).

Growth In July 2024, the increase in Motorcycles and cycles's year-by-year exports was explained primarily by an increase in exports to Cambodia ($113k or 140%), Mongolia ($38k or 3.8k%), and Philippines ($19k or 475%). In July 2024, the decrease in Motorcycles and cycles's year-by-year imports was explained primarily by a decrease in imports from China ($-3.25M or -24.1%), Vietnam ($-3.03M or -99.8%), and Chinese Taipei ($-1.15M or -36.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$358k(55.8%)
IMPORT GROWTH (July 2023 - July 2024)$-7.52M(-16.9%)
MAIN DESTINATION (July 2024)Kyrgyzstan$299k

This section shows Motorcycles and cycles'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 Motorcycles and cycles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$16.1M
IMPORTS (2022)$582M
NET TRADE (2022)-$566M

In 2022, South Korea exported $16.1M in Motorcycles and cycles. The main destinations of South Korea exports on Motorcycles and cycles were Denmark ($3.49M), Cambodia ($2.2M), Germany ($1.64M), Australia ($1.58M), and China ($859k).

In 2022, South Korea imported $582M in Motorcycles and cycles, mainly from China ($230M), Vietnam ($80.1M), Thailand ($49.8M), United States ($46.2M), and Germany ($39.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Motorcycles and cycles EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Denmark$926k (36.2%)
China$794k (1.22k%)
Australia$770k (95.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Motorcycles and cycles BY South Korea WERE (2021 - 2022):
Germany-$9.71M (-85.6%)
Spain-$1.71M (-94.9%)
United Kingdom-$1.52M (-85.8%)
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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 Motorcycles and cycles were:
China $11.6B
Germany $3.36B
Japan $3.25B
In 2022, South Korea's main importing competitors in Motorcycles and cycles were:
United States $5.02B
Germany $3.71B
France $2.53B

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Trade Value of Motorcycles and cycles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $2.32M
TOP IMPORT POTENTIALChina+ $86.1M

Motorcycles and cycles’s highest export potential is Germany. With an export gap of $2.32M.   Motorcycles and cycles’s highest import potential is China with an import gap of $86.1M.

See methodology.

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