Plastics and articles thereof in South Korea

EXPORTS (2018): $34.6B, World Rnk 4 / 222
Flag Rnk 5 / 96

TOP DESTINATION (2018): $10.4B, China

FASTEST GROWING MARKET (2017 - 2018): $350M, India

IMPORTS (2018): $11.3B, World Rnk 17 / 221
Flag Rnk 9 / 96

TOP ORIGIN (2018): $3.03B, Japan

FASTEST GROWING ORIGIN (2017 - 2018): $256M, China

ECONOMIC COMPLEXITY of South Korea (2018): 1.85, Rnk 5 / 137

PRODUCT COMPLEXITY  IN Plastics and articles thereof (2018): 0.96, Rnk 19 / 96

Overview: This page contains the latest trade data of Plastics and articles thereof in South Korea.

Exports: In 2018, South Korea exported $34.6B in Plastics and articles thereof, making it the 4th largest exporter of Plastics and articles thereof in the world. At the same year, Plastics and articles thereof was the 5th most exported product in South Korea. The main destination of Plastics and articles thereof exports from South Korea are: China ($10.4B), Vietnam ($3.09B), United States ($2.69B), Japan ($1.81B), and India ($1.74B).

The fastest growing export markets for Plastics and articles thereof of South Korea between 2017 and 2018 were India ($350M), United States ($328M), and Japan ($323M).

Imports: In 2018, South Korea imported $11.3B in Plastics and articles thereof, becoming the 17th largest importer of Plastics and articles thereof in the world. At the same year, Plastics and articles thereof was the 9th most imported product in South Korea. South Korea imports Plastics and articles thereof primarily from: Japan ($3.03B), China ($2.87B), United States ($1.61B), Chinese Taipei ($609M), and Germany ($563M).

The fastest growing import markets in Plastics and articles thereof for South Korea between 2017 and 2018 were China ($256M), United States ($114M), and Saudi Arabia ($68.7M).

Tariffs: In 2018, the average tariff for South Korea in Plastics and articles thereof was 4.15%. The countries with the highest import tariffs for Plastics and articles thereof were Cameroon (7.2%), Algeria (7.2%), Egypt (7.2%), Ghana (7.2%), and Libya (7.2%).

Overview: In September 2020 South Korea's Plastics and articles thereof exports accounted up to $2.94B and imports accounted up to $969M, resulting in a positive trade balance of $1.98B. Between September 2019 and September 2020 the exports of South Korea's   Plastics and articles thereof have increased by $315M (12%) from $2.63B to $2.94B, while imports increased by $38.7M (4.16%) from $930M to $969M.

Destinations: In September 2020 Plastics and articles thereof exported mostly to China ($1.02B), Vietnam ($278M), United States ($268M), India ($133M), and Japan ($125M), and imported mostly from Japan ($299M), China ($268M), United States ($116M), Germany ($42.7M), and Chinese Taipei ($42.5M).

Growth: In September 2020, the increase in Plastics and articles thereof's year-by-year exports was explained primarily by an increase in exports to China ($201M or 24.8%), United States ($27.1M or 11.3%), and Vietnam ($22.1M or 8.62%). In September 2020, the increase in Plastics and articles thereof's year-by-year imports was explained primarily by an increase in imports from China ($26.9M or 11.2%), Sweden ($17.1M or 191%), and Japan ($6.66M or 2.28%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (September 2019 - September 2020): $315M, (12%)

IMPORT GROWTH (September 2019 - September 2020): $38.7M, (4.16%)

MAIN DESTINATION (September 2020): China, $1.02B

This section shows Plastics and articles thereof'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 Plastics and articles thereof over time.

Value

EXPORTS (2018): $34.6B

IMPORTS (2018): $11.3B

NET TRADE (2018): $23.3B

In 2018, South Korea exported $34.6B in Plastics and articles thereof. The main destinations of South Korea exports on Plastics and articles thereof were China ($10.4B), Vietnam ($3.09B), United States ($2.69B), Japan ($1.81B), and India ($1.74B).

In 2018, South Korea imported $11.3B in Plastics and articles thereof, mainly from Japan ($3.03B), China ($2.87B), United States ($1.61B), Chinese Taipei ($609M), and Germany ($563M).

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IN 2018, South Korea HAD A POSITIVE NET TRADE IN Plastics and articles thereof WITH:

  • China, $7.48B ($10.4B - $2.87B)
  • Vietnam, $2.86B ($3.09B - $235M)
  • India, $1.7B ($1.74B - $45M)

IN 2018, South Korea HAD A NEGATIVE NET TRADE IN Plastics and articles thereof WITH:

  • Japan, -$1.22B ($1.81B - $3.03B)
  • Chinese Taipei, -$114M ($496M - $609M)
  • Sweden, -$44M ($49.3M - $93.2M)
Flow

THE FASTEST GROWING Plastics and articles thereof EXPORT MARKETS FOR South Korea WERE (2017 - 2018):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Plastics and articles thereof BY South Korea WERE (2017 - 2018):

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Market Concentration

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Type

In 2018, South Korea's main exporting competitors in Plastics and articles thereof were:

In 2018, South Korea's main importing competitors in Plastics and articles thereof were:

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Trade Forecasts

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Time

This section shows forecasts for total exports and imports, for Plastics and articles thereof in South Korea. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

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Tariffs by Country

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In 2018, the average tariff for South Korea in Plastics and articles thereof was 4.15%.

The countries with the highest tariffs for Plastics and articles thereof in South Korea were Cameroon (7.2%), Algeria (7.2%), Egypt (7.2%), Ghana (7.2%), and Libya (7.2%).

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