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2022
Exports $7.45BWorld Rnk 2 / 165
Flag Rnk 12 / 1204
2022
Destination $105M Mexico
2021 - 2022
FASTEST GROWING MARKET $105MJapan
2022
PRODUCT COMPLEXITY IN Coated Flat-Rolled Iron0.04Rnk 538 / 1025
2022
Imports $1.42BWorld Rnk 12 / 218
Flag Rnk 74 / 1213
2022
Origin $24.2M China
2021 - 2022
FASTEST GROWING ORIGIN $24.2MJapan
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $7.45B in Coated Flat-Rolled Iron, making it the 2nd largest exporter of Coated Flat-Rolled Iron in the world. At the same year, Coated Flat-Rolled Iron was the 12th most exported product in South Korea. The main destination of Coated Flat-Rolled Iron exports from South Korea are: Mexico ($868M), United States ($767M), Japan ($675M), China ($629M), and India ($480M).

The fastest growing export markets for Coated Flat-Rolled Iron of South Korea between 2021 and 2022 were Japan ($105M), India ($84.7M), and Italy ($83.7M).

Imports In 2022, South Korea imported $1.42B in Coated Flat-Rolled Iron, becoming the 12th largest importer of Coated Flat-Rolled Iron in the world. At the same year, Coated Flat-Rolled Iron was the 74th most imported product in South Korea. South Korea imports Coated Flat-Rolled Iron primarily from: China ($1.24B), Japan ($134M), United States ($29.6M), Belgium ($5.22M), and Chinese Taipei ($3.91M).

The fastest growing import markets in Coated Flat-Rolled Iron for South Korea between 2021 and 2022 were Japan ($24.2M), United States ($4.97M), and Belgium ($3.44M).

COMPANIES In 2023, leading companies such as LG Electronics (19) were at the forefront of shipping Coated Flat-Rolled Iron from South Korea to the United States.

Latest Trends

May 2024

About

Overview In May 2024 South Korea's Coated Flat-Rolled Iron exports accounted up to $546M and imports accounted up to $157M, resulting in a positive trade balance of $389M. Between May 2023 and May 2024 the exports of South Korea's   Coated Flat-Rolled Iron have increased by $14.6M (2.76%) from $531M to $546M, while imports increased by $14.4M (10.1%) from $143M to $157M.

Destinations In May 2024, Coated Flat-Rolled Iron were exported mostly to Mexico ($80.2M), United States ($70.4M), Japan ($66.7M), India ($42.9M), and China ($27.1M), and were imported mostly from China ($138M), Japan ($12.4M), United States ($3.88M), Chinese Taipei ($1.54M), and Sweden ($753k).

Growth In May 2024, the increase in Coated Flat-Rolled Iron's year-by-year exports was explained primarily by an increase in exports to Japan ($19.2M or 33.4%), Turkey ($7.82M or 46.2%), and Canada ($5.83M or 110%). In May 2024, the increase in Coated Flat-Rolled Iron's year-by-year imports was explained primarily by an increase in imports from Japan ($10.3M or 134%), United States ($233k or 10.7%), and Netherlands ($47k or 162%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (May 2023 - May 2024)$14.6M(2.76%)
IMPORT GROWTH (May 2023 - May 2024)$14.4M(10.1%)
MAIN DESTINATION (May 2024)Mexico$80.2M

This section shows Coated Flat-Rolled Iron'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 Coated Flat-Rolled Iron over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$7.45B
IMPORTS (2022)$1.42B
NET TRADE (2022)$6.03B

In 2022, South Korea exported $7.45B in Coated Flat-Rolled Iron. The main destinations of South Korea exports on Coated Flat-Rolled Iron were Mexico ($868M), United States ($767M), Japan ($675M), China ($629M), and India ($480M).

In 2022, South Korea imported $1.42B in Coated Flat-Rolled Iron, mainly from China ($1.24B), Japan ($134M), United States ($29.6M), Belgium ($5.22M), and Chinese Taipei ($3.91M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Coated Flat-Rolled Iron EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Japan$105M (18.4%)
India$84.7M (21.4%)
Italy$83.7M (61.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Coated Flat-Rolled Iron BY South Korea WERE (2021 - 2022):
China-$133M (-17.4%)
Russia-$128M (-69.5%)
Slovenia-$62.3M (-24.4%)
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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 Coated Flat-Rolled Iron were:
China $18B
Germany $4.59B
In 2022, South Korea's main importing competitors in Coated Flat-Rolled Iron were:
United States $7.12B
Germany $3.93B
Poland $3.01B

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Trade Value of Coated Flat-Rolled Iron by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $86.2M
TOP IMPORT POTENTIALChina+ $37.3M

Coated Flat-Rolled Iron’s highest export potential is China. With an export gap of $86.2M.   Coated Flat-Rolled Iron’s highest import potential is China with an import gap of $37.3M.

See methodology.

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