2022
Exports | Imports
$29B | $18.4BWorld Rnk 4 / 223
Flag Rnk 6 / 96
World Rnk 6 / 225
Flag Rnk 7 / 96
2022
ECONOMIC COMPLEXITY of South Korea
1.71Rnk 4 / 124
2022
PRODUCT COMPLEXITY IN Iron & steel
1.48Rnk 45 / 1025

About

Exports In 2022, South Korea exported $29B in Iron & steel, making it the 4th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 6th most exported product in South Korea. The main destination of Iron & steel exports from South Korea are: China ($3.39B), Japan ($3.01B), India ($2.74B), United States ($2.36B), and Mexico ($2.16B).

The fastest growing export markets for Iron & steel of South Korea between 2021 and 2022 were Italy ($405M), India ($308M), and Turkey ($235M).

Imports In 2022, South Korea imported $18.4B in Iron & steel, becoming the 6th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 7th most imported product in South Korea. South Korea imports Iron & steel primarily from: Japan ($6.54B), China ($6.13B), Vietnam ($624M), Malaysia ($612M), and Chinese Taipei ($609M).

The fastest growing import markets in Iron & steel for South Korea between 2021 and 2022 were Japan ($468M), Vietnam ($275M), and Malaysia ($218M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (6.59k), CNH INDUSTRIAL AMERICA LLC (1.08k), and SIGMA CORPORATION (780) were at the forefront of shipping Iron & steel from South Korea to the United States.

Latest Trends

January 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (January 2023 - January 2024)$92.1M(4.66%)
IMPORT GROWTH (January 2023 - January 2024)$11.1M(0.89%)
MAIN DESTINATION (January 2024)Japan$272M

This section shows Iron & steel'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 Iron & steel over time.

For full datasets download visit Bulk Download page.

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Trade Balance

Color
EXPORTS (2022)$29B
IMPORTS (2022)$18.4B
NET TRADE (2022)$10.5B

In 2022, South Korea exported $29B in Iron & steel. The main destinations of South Korea exports on Iron & steel were China ($3.39B), Japan ($3.01B), India ($2.74B), United States ($2.36B), and Mexico ($2.16B).

In 2022, South Korea imported $18.4B in Iron & steel, mainly from Japan ($6.54B), China ($6.13B), Vietnam ($624M), Malaysia ($612M), and Chinese Taipei ($609M).

Explore Visualizations

Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Italy$405M (48.5%)
India$308M (12.7%)
Turkey$235M (22.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY South Korea WERE (2021 - 2022):
Chinese Taipei-$228M (-28%)
Vietnam-$200M (-12.7%)
Russia-$199M (-69.9%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Iron & steel were:
China $69.8B
Germany $36.9B
Japan $35.7B
In 2022, South Korea's main importing competitors in Iron & steel were:

Explore Visualizations

Trade Value of Iron & steel by Exporters

Have questions, comments, or concerns?
Send us an e-mail: [email protected]
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with