Asia’s Export and Import Results of Motor Vehicles and Parts in 2023

This report covers the export and import results of motor vehicles and related parts (classified under HS Code 87) of eight Asian countries (India, Indonesia, Malaysia, Philippines, South Korea, Taiwan, Thailand, Vietnam) in 2023. The total export value of motor vehicles and parts of India, Malaysia, the Philippines, and Taiwan declined, while that of Thailand, Indonesia, Vietnam, and South Korea increased. Meanwhile, the import value exceeded the previous year’s level in seven countries except Vietnam. The easing of restrictions on automobile production due to a shortage of semiconductors was a positive factor for imports and exports. However, some countries faced their own issues such as a slump in motorcycle exports by India and weakening domestic automobile sales in Vietnam.