Plastics & articles thereof in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $44.9B in Plastics & articles thereof, making it the 4th largest exporter of Plastics & articles thereof in the world. At the same year, Plastics & articles thereof was the 5th most exported product in South Korea. The main destination of Plastics & articles thereof exports from South Korea are: China ($12.1B), United States ($5.42B), Vietnam ($4B), Japan ($2.27B), and India ($2.09B).

The fastest growing export markets for Plastics & articles thereof of South Korea between 2021 and 2022 were United States ($974M), Japan ($551M), and Chinese Taipei ($292M).

Imports In 2022, South Korea imported $13.8B in Plastics & articles thereof, becoming the 17th largest importer of Plastics & articles thereof in the world. At the same year, Plastics & articles thereof was the 9th most imported product in South Korea. South Korea imports Plastics & articles thereof primarily from: China ($5.11B), Japan ($2.89B), United States ($1.94B), Germany ($616M), and Chinese Taipei ($418M).

The fastest growing import markets in Plastics & articles thereof for South Korea between 2021 and 2022 were China ($380M), United States ($338M), and Sweden ($92M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (68.9k), SAMSUNG ELECTRONICS AMERICA (32.9k), and CNH INDUSTRIAL AMERICA LLC (620) were at the forefront of shipping Plastics & articles thereof from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Plastics & articles thereof exports accounted up to $2.95B and imports accounted up to $901M, resulting in a positive trade balance of $2.05B. Between February 2023 and February 2024 the exports of South Korea's Plastics & articles thereof have decreased by $-126M (-4.11%) from $3.07B to $2.95B, while imports decreased by $-2.88M (-0.32%) from $904M to $901M.

Destinations In February 2024, Plastics & articles thereof were exported mostly to China ($752M), United States ($341M), Vietnam ($281M), India ($178M), and Japan ($127M), and were imported mostly from China ($316M), Japan ($209M), United States ($137M), Germany ($44.4M), and Vietnam ($30.7M).

Growth In February 2024, the decrease in Plastics & articles thereof's year-by-year exports was explained primarily by a decrease in exports to China ($-383M or -33.4%), Vietnam ($-195M or -46.6%), and United States ($-149M or -34.3%). In February 2024, the decrease in Plastics & articles thereof's year-by-year imports was explained primarily by a decrease in imports from Japan ($-84M or -32%), China ($-59.5M or -13.1%), and Chinese Taipei ($-31.1M or -52.8%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-126M(-4.11%)

IMPORT GROWTH (February 2023 - February 2024)$-2.88M(-0.32%)

MAIN DESTINATION (February 2024)China$752M

This section shows Plastics & 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 & articles thereof over time.

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