Hot-Rolled Iron in South Korea 2021 Exports | Imports : $6.18B | $2.81B, World Rnk 2 / 153 Rnk 19 / 1206 | World Rnk 6 / 212 Rnk 28 / 1211
2020 - 2021 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $493M | $739M, United States | Japan
2021 ECONOMIC COMPLEXITY of South Korea: 1.82, Rnk 4 / 131
2021 PRODUCT COMPLEXITY IN Hot-Rolled Iron: 0.35, Rnk 429 / 1029
Exports In 2021, South Korea exported $6.18B in Hot-Rolled Iron, making it the 2nd largest exporter of Hot-Rolled Iron in the world. At the same year, Hot-Rolled Iron was the 19th most exported product in South Korea. The main destination of Hot-Rolled Iron exports from South Korea are: Japan ($827M), United States ($769M), India ($696M), Vietnam ($568M), and China ($552M).
The fastest growing export markets for Hot-Rolled Iron of South Korea between 2020 and 2021 were United States ($493M), Japan ($238M), and India ($215M).
Imports In 2021, South Korea imported $2.81B in Hot-Rolled Iron, becoming the 6th largest importer of Hot-Rolled Iron in the world. At the same year, Hot-Rolled Iron was the 28th most imported product in South Korea. South Korea imports Hot-Rolled Iron primarily from: Japan ($1.9B), China ($690M), India ($95.3M), Chinese Taipei ($78.6M), and Russia ($11.7M).
The fastest growing import markets in Hot-Rolled Iron for South Korea between 2020 and 2021 were Japan ($739M), China ($454M), and India ($95M).
March 2023
Overview In March 2023 South Korea's Hot-Rolled Iron exports accounted up to $553M and imports accounted up to $444M, resulting in a positive trade balance of $109M. Between March 2022 and March 2023 the exports of South Korea's Hot-Rolled Iron have decreased by $-26.3M (-4.54%) from $579M to $553M, while imports increased by $60.2M (15.7%) from $384M to $444M.
Destinations In March 2023, Hot-Rolled Iron were exported mostly to Japan ($70.9M), India ($50M), Italy ($49M), Turkey ($46.6M), and China ($43.1M), and were imported mostly from Japan ($232M), China ($200M), Chinese Taipei ($11.7M), Belgium ($965k), and Sweden ($102k).
Growth In March 2023, the decrease in Hot-Rolled Iron's year-by-year exports was explained primarily by a decrease in exports to United Arab Emirates ($-10.1M or -99.9%), Thailand ($-6.51M or -30.5%), and Nigeria ($-2.34M or -100%). In March 2023, the increase in Hot-Rolled Iron's year-by-year imports was explained primarily by an increase in imports from Japan ($135M or 193%), China ($19.6M or 77.3%), and Chinese Taipei ($5.6M or 560k%).
EXPORT GROWTH (March 2022 - March 2023): $-26.3M, (-4.54%)
IMPORT GROWTH (March 2022 - March 2023): $60.2M, (15.7%)
MAIN DESTINATION (March 2023): Japan, $70.9M
This section shows Hot-Rolled Iron'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 Hot-Rolled Iron over time.
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EXPORTS (2021): $6.18B
IMPORTS (2021): $2.81B
NET TRADE (2021): $3.37B
In 2021, South Korea exported $6.18B in Hot-Rolled Iron. The main destinations of South Korea exports on Hot-Rolled Iron were Japan ($827M), United States ($769M), India ($696M), Vietnam ($568M), and China ($552M).
In 2021, South Korea imported $2.81B in Hot-Rolled Iron, mainly from Japan ($1.9B), China ($690M), India ($95.3M), Chinese Taipei ($78.6M), and Russia ($11.7M).
THE FASTEST GROWING Hot-Rolled Iron EXPORT MARKETS FOR South Korea WERE (2020 - 2021):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Hot-Rolled Iron BY South Korea WERE (2020 - 2021):
In 2021, South Korea's main exporting competitors in Hot-Rolled Iron were:
In 2021, South Korea's main importing competitors in Hot-Rolled Iron were:
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