Sign In
Pricing

2022
Exports $15.3MWorld Rnk 47 / 128
Flag Rnk 674 / 1204
2022
Destination $1.1k China
2021 - 2022
FASTEST GROWING MARKET $1.1kNetherlands
2022
PRODUCT COMPLEXITY IN Iron Ore-1.79Rnk 980 / 1025
2022
Imports $7.58BWorld Rnk 3 / 130
Flag Rnk 9 / 1213
2022
Origin $157M Australia
2021 - 2022
FASTEST GROWING ORIGIN $157MChile
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $15.3M in Iron Ore, making it the 47th largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 674th most exported product in South Korea. The main destination of Iron Ore exports from South Korea are: China ($15.3M), Netherlands ($1.73k), Austria ($71), Indonesia ($10), and Ireland ($8).

The fastest growing export markets for Iron Ore of South Korea between 2021 and 2022 were Netherlands ($1.1k), Austria ($71), and Ireland ($8).

Imports In 2022, South Korea imported $7.58B in Iron Ore, becoming the 3rd largest importer of Iron Ore in the world. At the same year, Iron Ore was the 9th most imported product in South Korea. South Korea imports Iron Ore primarily from: Australia ($5.15B), Brazil ($867M), Canada ($620M), South Africa ($531M), and Chile ($241M).

The fastest growing import markets in Iron Ore for South Korea between 2021 and 2022 were Chile ($157M), Canada ($76M), and Malaysia ($20.7M).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Iron Ore exports accounted up to $240k and imports accounted up to $685M, resulting in a negative trade balance of $685M. Between July 2023 and July 2024 the exports of South Korea's   Iron Ore have decreased by $-1.71M (-87.7%) from $1.95M to $240k, while imports increased by $32.6M (4.99%) from $653M to $685M.

Destinations In July 2024, Iron Ore were exported mostly to China ($240k), South Africa ($0), Bahrain ($0), India ($0), and Netherlands ($0), and were imported mostly from Australia ($387M), Brazil ($133M), South Africa ($48.6M), Canada ($39.3M), and Chile ($38.8M).

Growth In July 2024, the decrease in Iron Ore's year-by-year exports was explained primarily by a decrease in exports to . In July 2024, the increase in Iron Ore's year-by-year imports was explained primarily by an increase in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-1.71M(-87.7%)
IMPORT GROWTH (July 2023 - July 2024)$32.6M(4.99%)
MAIN DESTINATION (July 2024)China$240k

This section shows Iron Ore'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 Ore 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)$15.3M
IMPORTS (2022)$7.58B
NET TRADE (2022)-$7.57B

In 2022, South Korea exported $15.3M in Iron Ore. The main destinations of South Korea exports on Iron Ore were China ($15.3M), Netherlands ($1.73k), Austria ($71), Indonesia ($10), and Ireland ($8).

In 2022, South Korea imported $7.58B in Iron Ore, mainly from Australia ($5.15B), Brazil ($867M), Canada ($620M), South Africa ($531M), and Chile ($241M).

Explore Visualizations

Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron Ore EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Netherlands$1.1k (175%)
Austria$71 (1%)
Ireland$8 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Ore BY South Korea WERE (2021 - 2022):
China-$3.12M (-16.9%)
Italy-$3.1k (-100%)
Indonesia-$3.05k (-99.7%)
Explore Visualizations

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Iron Ore were:
Australia $87.9B
Brazil $30.1B
Canada $6.81B
In 2022, South Korea's main importing competitors in Iron Ore were:
China $103B
Japan $11.3B

Explore Visualizations

Trade Value of Iron Ore by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $39.5M
TOP IMPORT POTENTIALChina+ $61.9M

Iron Ore’s highest export potential is China. With an export gap of $39.5M.   Iron Ore’s highest import potential is China with an import gap of $61.9M.

See methodology.

Subscribe today to OEC pro and access the latest data

Sign Up

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms