Chemical products n.e.s. in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $6.73B in Chemical products n.e.s., making it the 10th largest exporter of Chemical products n.e.s. in the world. At the same year, Chemical products n.e.s. was the 16th most exported product in South Korea. The main destination of Chemical products n.e.s. exports from South Korea are: China ($1.7B), United States ($976M), Hungary ($786M), Japan ($407M), and Vietnam ($362M).

The fastest growing export markets for Chemical products n.e.s. of South Korea between 2021 and 2022 were Hungary ($478M), United States ($269M), and Chinese Taipei ($48.3M).

Imports In 2022, South Korea imported $8.3B in Chemical products n.e.s., becoming the 8th largest importer of Chemical products n.e.s. in the world. At the same year, Chemical products n.e.s. was the 14th most imported product in South Korea. South Korea imports Chemical products n.e.s. primarily from: China ($2.46B), Japan ($1.89B), United States ($1.35B), Singapore ($746M), and Germany ($380M).

The fastest growing import markets in Chemical products n.e.s. for South Korea between 2021 and 2022 were China ($495M), Belgium ($37.6M), and Singapore ($30.2M).

COMPANIES In 2023, leading companies such as HYOSUNG USA, INC. (1.96k), LG ELECTRONICS U.S.A. INC. (1.42k), and FORD MOTOR COMPANY (1.29k) were at the forefront of shipping Chemical products n.e.s. from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Chemical products n.e.s. exports accounted up to $533M and imports accounted up to $685M, resulting in a negative trade balance of $152M. Between February 2023 and February 2024 the exports of South Korea's Chemical products n.e.s. have decreased by $-59.6M (-10.1%) from $593M to $533M, while imports decreased by $-44.3M (-6.08%) from $730M to $685M.

Destinations In February 2024, Chemical products n.e.s. were exported mostly to United States ($141M), China ($128M), Japan ($35.5M), Vietnam ($26.5M), and Chinese Taipei ($16M), and were imported mostly from Japan ($158M), United States ($145M), China ($131M), Singapore ($49.4M), and Germany ($40.6M).

Growth In February 2024, the decrease in Chemical products n.e.s.'s year-by-year exports was explained primarily by a decrease in exports to Canada ($-91M or -99.3%), Vietnam ($-40.1M or -64.1%), and Netherlands ($-34.3M or -88.9%). In February 2024, the decrease in Chemical products n.e.s.'s year-by-year imports was explained primarily by a decrease in imports from China ($-17.6M or -8.69%), Chinese Taipei ($-16.1M or -66.7%), and Germany ($-7.59M or -15.1%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-59.6M(-10.1%)

IMPORT GROWTH (February 2023 - February 2024)$-44.3M(-6.08%)

MAIN DESTINATION (February 2024)United States$141M

This section shows Chemical products n.e.s.'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 Chemical products n.e.s. over time.

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