Gold in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $1.37B in Gold, making it the 46th largest exporter of Gold in the world. At the same year, Gold was the 78th most exported product in South Korea. The main destination of Gold exports from South Korea are: Singapore ($368M), Hong Kong ($289M), Thailand ($193M), Switzerland ($107M), and Chinese Taipei ($98.4M).

The fastest growing export markets for Gold of South Korea between 2021 and 2022 were Singapore ($329M), Thailand ($153M), and Hong Kong ($125M).

Imports In 2022, South Korea imported $1.39B in Gold, becoming the 26th largest importer of Gold in the world. At the same year, Gold was the 76th most imported product in South Korea. South Korea imports Gold primarily from: Australia ($603M), Japan ($379M), Mongolia ($76.2M), United Arab Emirates ($60.3M), and Canada ($57.2M).

The fastest growing import markets in Gold for South Korea between 2021 and 2022 were United Arab Emirates ($57.3M), Japan ($26.7M), and Singapore ($3.47M).

Latest Trends

March 2024

About

Overview In March 2024 South Korea's Gold exports accounted up to $43.7M and imports accounted up to $210M, resulting in a negative trade balance of $167M. Between March 2023 and March 2024 the exports of South Korea's Gold have decreased by $-208M (-82.6%) from $251M to $43.7M, while imports increased by $158M (300%) from $52.6M to $210M.

Destinations In March 2024, Gold were exported mostly to Hong Kong ($10.7M), Japan ($8.31M), Chinese Taipei ($7.59M), Philippines ($5.61M), and China ($5.6M), and were imported mostly from Australia ($120M), Japan ($39M), Hong Kong ($26.1M), Canada ($6.95M), and Singapore ($6.17M).

Growth In March 2024, the decrease in Gold's year-by-year exports was explained primarily by a decrease in exports to Switzerland ($-4.83M or -63.8%), Vietnam ($-3.32M or -48.7%), and Chinese Taipei ($-3.07M or -28.1%). In March 2024, the increase in Gold's year-by-year imports was explained primarily by an increase in imports from United States ($84k or 12.5%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-208M(-82.6%)

IMPORT GROWTH (March 2023 - March 2024)$158M(300%)

MAIN DESTINATION (March 2024)Hong Kong$10.7M

This section shows Gold'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 Gold over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$1.37B

IMPORTS (2022)$1.39B

NET TRADE (2022)-$21.1M

In 2022, South Korea exported $1.37B in Gold. The main destinations of South Korea exports on Gold were Singapore ($368M), Hong Kong ($289M), Thailand ($193M), Switzerland ($107M), and Chinese Taipei ($98.4M).

In 2022, South Korea imported $1.39B in Gold, mainly from Australia ($603M), Japan ($379M), Mongolia ($76.2M), United Arab Emirates ($60.3M), and Canada ($57.2M).

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