Asia’s Export and Import Results of Motor Vehicles and Parts in 2024

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 2024. The total export value of motor vehicles and parts of India, South Korea, Thailand, Malaysia, the Philippines and Vietnam increased. The expansion was mainly driven by a rise in exports to the United States. South Korea (up 0.04%), which ranked first in export value, and Thailand (up 0.38%), ranked second, both exceeded the previous year’s results, although the increase was small. On the other hand, imports of South Korea, Taiwan, Thailand, Indonesia, Malaysia, and the Philippines declined. The main factor was the contraction of the local automobile market, but Thailand, which had the largest decline (down 26.7%), was also affected by a drop in imports of parts due to production cuts by Japanese OEMs.