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2023
Exports $11.4BWorld Rnk 4 / 207
Flag Rnk 11 / 96
2023
Destination $4.07B China
2022 - 2023
FASTEST GROWING MARKET $4.07BChina
2023
PRODUCT COMPLEXITY IN Inorganic chemicals1.54Rnk 38 / 1025
2023
Imports $18.7BWorld Rnk 2 / 226
Flag Rnk 5 / 96
2023
Origin $6.43B China
2022 - 2023
FASTEST GROWING ORIGIN $6.43BChina
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $11.4B in Inorganic chemicals, making it the 4th largest exporter of Inorganic chemicals in the world. At the same year, Inorganic chemicals was the 11th most exported product in South Korea. The main destination of Inorganic chemicals exports from South Korea are: China ($5.23B), Poland ($2.32B), Hungary ($617M), Malaysia ($606M), and Japan ($535M).

The fastest growing export markets for Inorganic chemicals of South Korea between 2022 and 2023 were China ($4.07B), Poland ($384M), and Hungary ($228M).

Imports In 2023, South Korea imported $18.7B in Inorganic chemicals, becoming the 2nd largest importer of Inorganic chemicals in the world. At the same year, Inorganic chemicals was the 5th most imported product in South Korea. South Korea imports Inorganic chemicals primarily from: China ($13B), Chile ($1.96B), United States ($709M), Japan ($609M), and France ($486M).

The fastest growing import markets in Inorganic chemicals for South Korea between 2022 and 2023 were China ($6.43B), France ($339M), and Chile ($256M).

COMPANIES In 2024, leading companies such as LG Electronics (57), General Motors (37), and Hankook Tires (22) were at the forefront of shipping Inorganic chemicals from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Inorganic chemicals exports accounted up to $785M and imports accounted up to $849M, resulting in a negative trade balance of $64.1M. Between December 2023 and December 2024 the exports of South Korea's   Inorganic chemicals have decreased by $-59.3M (-7.02%) from $844M to $785M, while imports decreased by $-444M (-34.3%) from $1.29B to $849M.

Destinations In December 2024, Inorganic chemicals were exported mostly to China ($210M), Poland ($122M), Hungary ($85M), United States ($77.7M), and Japan ($60M), and were imported mostly from China ($423M), France ($111M), United States ($53.1M), Japan ($47.1M), and Chile ($28.5M).

Growth In December 2024, the decrease in Inorganic chemicals's year-by-year exports was explained primarily by a decrease in exports to United States ($-164M or -73.2%), China ($-146M or -31.3%), and Poland ($-139M or -64.5%). In December 2024, the decrease in Inorganic chemicals's year-by-year imports was explained primarily by a decrease in imports from China ($-603M or -42.7%), Chile ($-199M or -76.8%), and France ($-91.2M or -96%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-59.3M(-7.02%)
IMPORT GROWTH (December 2023 - December 2024)$-444M(-34.3%)
MAIN DESTINATION (December 2024)China$210M

This section shows Inorganic chemicals'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 Inorganic chemicals over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$11.4B
IMPORTS (2023)$18.7B
NET TRADE (2023)-$7.3B

In 2023, South Korea exported $11.4B in Inorganic chemicals. The main destinations of South Korea exports on Inorganic chemicals were China ($5.23B), Poland ($2.32B), Hungary ($617M), Malaysia ($606M), and Japan ($535M).

In 2023, South Korea imported $18.7B in Inorganic chemicals, mainly from China ($13B), Chile ($1.96B), United States ($709M), Japan ($609M), and France ($486M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Inorganic chemicals EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
China$4.07B (351%)
Poland$384M (19.9%)
Hungary$228M (58.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Inorganic chemicals BY South Korea WERE (2022 - 2023):
Japan-$328M (-38%)
Slovenia-$293M (-99.8%)
Vietnam-$231M (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Inorganic chemicals were:
China $35.7B
United States $15.5B
Germany $13B
In 2023, South Korea's main importing competitors in Inorganic chemicals were:
China $24.1B
United States $17.3B

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Trade Value of Inorganic chemicals by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $117M
TOP IMPORT POTENTIALGermany+ $46.8M

Inorganic chemicals’s highest export potential is China. With an export gap of $117M.   Inorganic chemicals’s highest import potential is Germany with an import gap of $46.8M.

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