Ethylene Polymers in South Korea 2020 Exports | Imports : $4.07B | $629M, World Rnk 4 / 160 Rnk 23 / 1207 | World Rnk 25 / 207 Rnk 137 / 1211
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $145M | $35.5M, China | United States
2020 ECONOMIC COMPLEXITY of South Korea: 1.88, Rnk 5 / 127
2020 PRODUCT COMPLEXITY IN Ethylene Polymers: 0.025, Rnk 543 / 1029
Exports In 2020, South Korea exported $4.07B in Ethylene Polymers, making it the 4th largest exporter of Ethylene Polymers in the world. At the same year, Ethylene Polymers was the 23rd most exported product in South Korea. The main destination of Ethylene Polymers exports from South Korea are: China ($2.37B), Vietnam ($307M), India ($191M), Turkey ($118M), and United States ($73.9M).
The fastest growing export markets for Ethylene Polymers of South Korea between 2019 and 2020 were China ($145M), Vietnam ($41.9M), and Nigeria ($10.5M).
Imports In 2020, South Korea imported $629M in Ethylene Polymers, becoming the 25th largest importer of Ethylene Polymers in the world. At the same year, Ethylene Polymers was the 137th most imported product in South Korea. South Korea imports Ethylene Polymers primarily from: United States ($243M), Japan ($67.7M), Saudi Arabia ($57.3M), China ($45.5M), and Malaysia ($31M).
The fastest growing import markets in Ethylene Polymers for South Korea between 2019 and 2020 were United States ($35.5M), Belgium ($9.12M), and Germany ($5.84M).
Tariffs In 2018, the average tariff for South Korea in Ethylene Polymers was 4.17%. The countries with the highest import tariffs for Ethylene Polymers were Botswana (Most Favoured Nation duty rate treatement, 6.5%), Cote d'Ivoire (Most Favoured Nation duty rate treatement, 6.5%), Cameroon (Most Favoured Nation duty rate treatement, 6.5%), Republic of the Congo (Most Favoured Nation duty rate treatement, 6.5%), and Cape Verde (Most Favoured Nation duty rate treatement, 6.5%).
Overview In December 2022 South Korea's Ethylene Polymers exports accounted up to $453M and imports accounted up to $45.5M, resulting in a positive trade balance of $408M. Between December 2021 and December 2022 the exports of South Korea's Ethylene Polymers have decreased by $-146M (-24.3%) from $599M to $453M, while imports decreased by $-5.3M (-10.4%) from $50.8M to $45.5M.
Destinations In December 2022, Ethylene Polymers were exported mostly to China ($238M), India ($30.8M), Vietnam ($29.2M), Turkey ($14.3M), and Russia ($10.9M), and were imported mostly from United States ($14.3M), Japan ($5.82M), China ($4.94M), Sweden ($4.3M), and Saudi Arabia ($2.74M).
Growth In December 2022, the decrease in Ethylene Polymers's year-by-year exports was explained primarily by a decrease in exports to Nigeria ($-1.74M or -26.2%), Bangladesh ($-1.22M or -31.6%), and Thailand ($-419k or -5.38%). In December 2022, the decrease in Ethylene Polymers's year-by-year imports was explained primarily by a decrease in imports from United States ($-10.9M or -55.1%), Spain ($-1.24M or -65.4%), and Singapore ($-955k or -51.6%).
EXPORT GROWTH (December 2021 - December 2022): $-146M, (-24.3%)
IMPORT GROWTH (December 2021 - December 2022): $-5.3M, (-10.4%)
MAIN DESTINATION (December 2022): China, $238M
This section shows Ethylene Polymers'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 Ethylene Polymers over time.
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EXPORTS (2020): $4.07B
IMPORTS (2020): $629M
NET TRADE (2020): $3.44B
In 2020, South Korea exported $4.07B in Ethylene Polymers. The main destinations of South Korea exports on Ethylene Polymers were China ($2.37B), Vietnam ($307M), India ($191M), Turkey ($118M), and United States ($73.9M).
In 2020, South Korea imported $629M in Ethylene Polymers, mainly from United States ($243M), Japan ($67.7M), Saudi Arabia ($57.3M), China ($45.5M), and Malaysia ($31M).
THE FASTEST GROWING Ethylene Polymers EXPORT MARKETS FOR South Korea WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Ethylene Polymers BY South Korea WERE (2019 - 2020):
In 2020, South Korea's main exporting competitors in Ethylene Polymers were:
In 2020, South Korea's main importing competitors in Ethylene Polymers were:
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