Hot-Rolled Iron in South Korea 2020 Exports | Imports : $4.76B | $1.5B, World Rnk 2 / 143 Rnk 21 / 1207 | World Rnk 6 / 211 Rnk 51 / 1211
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $161M | $3.27M, China | Russia
Exports In 2020, South Korea exported $4.76B 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 21st most exported product in South Korea. The main destination of Hot-Rolled Iron exports from South Korea are: China ($810M), Japan ($590M), India ($480M), Vietnam ($469M), and United States ($277M).
The fastest growing export markets for Hot-Rolled Iron of South Korea between 2019 and 2020 were China ($161M), Turkey ($70.6M), and Pakistan ($62.8M).
Imports In 2020, South Korea imported $1.5B 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 51st most imported product in South Korea. South Korea imports Hot-Rolled Iron primarily from: Japan ($1.16B), China ($235M), Chinese Taipei ($69.8M), Australia ($18.4M), and Belgium ($4.25M).
The fastest growing import markets in Hot-Rolled Iron for South Korea between 2019 and 2020 were Russia ($3.27M), United Arab Emirates ($1.78M), and France ($849k).
Overview In June 2022 South Korea's Hot-Rolled Iron exports accounted up to $643M and imports accounted up to $426M, resulting in a positive trade balance of $217M. Between June 2021 and June 2022 the exports of South Korea's Hot-Rolled Iron have increased by $107M (19.9%) from $536M to $643M, while imports increased by $201M (89.7%) from $224M to $426M.
Destinations In June 2022, Hot-Rolled Iron were exported mostly to Japan ($71.6M), India ($69.3M), United States ($65.8M), Vietnam ($55M), and Belgium ($52.9M), and were imported mostly from Japan ($212M), China ($204M), Chinese Taipei ($9.11M), Malaysia ($390k), and India ($128k).
Growth In June 2022, the increase in Hot-Rolled Iron's year-by-year exports was explained primarily by an increase in exports to India ($31.2M or 79.8%), Japan ($22.6M or 43%), and United States ($17.3M or 57.2%). In June 2022, the increase in Hot-Rolled Iron's year-by-year imports was explained primarily by an increase in imports from Belgium ($215k or 124%), France ($58k or 276%), and India ($7k or 700%).
EXPORT GROWTH (June 2021 - June 2022): $107M, (19.9%)
IMPORT GROWTH (June 2021 - June 2022): $201M, (89.7%)
MAIN DESTINATION (June 2022): Japan, $71.6M
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 (2020): $4.76B
IMPORTS (2020): $1.5B
NET TRADE (2020): $3.26B
In 2020, South Korea exported $4.76B in Hot-Rolled Iron. The main destinations of South Korea exports on Hot-Rolled Iron were China ($810M), Japan ($590M), India ($480M), Vietnam ($469M), and United States ($277M).
In 2020, South Korea imported $1.5B in Hot-Rolled Iron, mainly from Japan ($1.16B), China ($235M), Chinese Taipei ($69.8M), Australia ($18.4M), and Belgium ($4.25M).
IN 2020, South Korea HAD A POSITIVE NET TRADE IN Hot-Rolled Iron WITH:
IN 2020, South Korea HAD A NEGATIVE NET TRADE IN Hot-Rolled Iron WITH:
THE FASTEST GROWING Hot-Rolled Iron EXPORT MARKETS FOR South Korea WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Hot-Rolled Iron BY South Korea WERE (2019 - 2020):
In 2019, South Korea's main exporting competitors in Hot-Rolled Iron were:
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