Synthetic Rubber in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $3.3B in Synthetic Rubber, making it the 1st largest exporter of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 34th most exported product in South Korea. The main destination of Synthetic Rubber exports from South Korea are: China ($582M), Malaysia ($365M), United States ($308M), Indonesia ($295M), and India ($278M).

The fastest growing export markets for Synthetic Rubber of South Korea between 2021 and 2022 were United States ($76.1M), Italy ($21.9M), and Germany ($16.1M).

Imports In 2022, South Korea imported $453M in Synthetic Rubber, becoming the 20th largest importer of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 207th most imported product in South Korea. South Korea imports Synthetic Rubber primarily from: China ($113M), Japan ($90.8M), Singapore ($56.5M), United States ($50M), and Czechia ($35.9M).

The fastest growing import markets in Synthetic Rubber for South Korea between 2021 and 2022 were China ($26.6M), Canada ($9.34M), and Singapore ($6.47M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (6.94k), SAMSUNG ELECTRONICS AMERICA (1.18k), and HANKOOK TIRE AMERICA CORP. (238) were at the forefront of shipping Synthetic Rubber from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Synthetic Rubber exports accounted up to $243M and imports accounted up to $25.8M, resulting in a positive trade balance of $217M. Between February 2023 and February 2024 the exports of South Korea's Synthetic Rubber have decreased by $-6.82M (-2.73%) from $249M to $243M, while imports decreased by $-9.93M (-27.8%) from $35.7M to $25.8M.

Destinations In February 2024, Synthetic Rubber were exported mostly to China ($42M), Malaysia ($27.9M), India ($24.6M), United States ($23.3M), and Thailand ($20.8M), and were imported mostly from China ($6.07M), Japan ($5.33M), Singapore ($4.52M), United States ($4.32M), and Chinese Taipei ($1.47M).

Growth In February 2024, the decrease in Synthetic Rubber's year-by-year exports was explained primarily by a decrease in exports to Malaysia ($-16.7M or -40.4%), Vietnam ($-16.3M or -62.7%), and China ($-16M or -28.6%). In February 2024, the decrease in Synthetic Rubber's year-by-year imports was explained primarily by a decrease in imports from Russia ($-1.33M or -61.9%), Belgium ($-389k or -100%), and Chinese Taipei ($-284k or -34.7%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-6.82M(-2.73%)

IMPORT GROWTH (February 2023 - February 2024)$-9.93M(-27.8%)

MAIN DESTINATION (February 2024)China$42M

This section shows Synthetic Rubber'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 Synthetic Rubber over time.

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