HS Icon Iron and steel in  Flag South Korea

2019
Exports | Imports
: $23.5B | $14.7B, World Rnk 4 / 220
Flag Rnk 6 / 96 | World Rnk 5 / 224
Flag Rnk 7 / 96

2018 - 2019
FASTEST GROWING MARKET | FASTEST GROWING ORIGIN
: $75.8M | $85.7M, Malaysia |  Australia

2019
ECONOMIC COMPLEXITY of South Korea
: 1.9, Rnk 5 / 147

2019
PRODUCT COMPLEXITY  IN Iron and steel
: 0.15, Rnk 42 / 96

Exports In 2019, South Korea exported $23.5B in Iron and steel, making it the 4th largest exporter of Iron and steel in the world. At the same year, Iron and steel was the 6th most exported product in South Korea. The main destination of Iron and steel exports from South Korea are: China ($3.16B), Japan ($2.79B), India ($2.36B), Mexico ($1.56B), and Thailand ($1.51B).

The fastest growing export markets for Iron and steel of South Korea between 2018 and 2019 were Malaysia ($75.8M), Vietnam ($44.4M), and Indonesia ($39.8M).

Imports In 2019, South Korea imported $14.7B in Iron and steel, becoming the 5th largest importer of Iron and steel in the world. At the same year, Iron and steel was the 7th most imported product in South Korea. South Korea imports Iron and steel primarily from: Japan ($5.03B), China ($4.85B), Indonesia ($702M), United States ($472M), and Chinese Taipei ($441M).

The fastest growing import markets in Iron and steel for South Korea between 2018 and 2019 were Australia ($85.7M), Indonesia ($60.2M), and Belgium ($44.6M).

Tariffs In 2018, the average tariff for South Korea in Iron and steel was 0.16%. The countries with the highest import tariffs for Iron and steel were Sri Lanka (Preferential trade agreement (APTA) Asia-Pacific Trade Agreement or (Previously named:Bangkok Agreement), 1.36%), China (Preferential tariff for China, 0.57%), Botswana (Most Favoured Nation duty rate treatement, 0.25%), Cote d'Ivoire (Most Favoured Nation duty rate treatement, 0.25%), and Cameroon (Most Favoured Nation duty rate treatement, 0.25%).

August 2021

Subnational Monthly Trade

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Time Scale
Flow
Value

EXPORT GROWTH (August 2020 - August 2021): $918M, (58.4%)

IMPORT GROWTH (August 2020 - August 2021): $1.17B, (173%)

MAIN DESTINATION (August 2021): China, $283M

This section shows Iron and steel'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 Iron and steel over time.

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Historical Data

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EXPORTS (2019): $23.5B

IMPORTS (2019): $14.7B

NET TRADE (2019): $8.84B

In 2019, South Korea exported $23.5B in Iron and steel. The main destinations of South Korea exports on Iron and steel were China ($3.16B), Japan ($2.79B), India ($2.36B), Mexico ($1.56B), and Thailand ($1.51B).

In 2019, South Korea imported $14.7B in Iron and steel, mainly from Japan ($5.03B), China ($4.85B), Indonesia ($702M), United States ($472M), and Chinese Taipei ($441M).

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IN 2019, South Korea HAD A POSITIVE NET TRADE IN Iron and steel WITH:

IN 2019, South Korea HAD A NEGATIVE NET TRADE IN Iron and steel WITH:

Flow

THE FASTEST GROWING Iron and steel EXPORT MARKETS FOR South Korea WERE (2018 - 2019):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron and steel BY South Korea WERE (2018 - 2019):

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Market Concentration

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Type

In 2019, South Korea's main exporting competitors in Iron and steel were:

In 2019, South Korea's main importing competitors in Iron and steel were:

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Tariffs by Country

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In 2018, the average tariff for South Korea in Iron and steel was 0.16%.

The countries with the highest tariffs for Iron and steel in South Korea were Sri Lanka (Preferential trade agreement (APTA) Asia-Pacific Trade Agreement or (Previously named:Bangkok Agreement), 1.36%), China (Preferential tariff for China, 0.57%), Botswana (Most Favoured Nation duty rate treatement, 0.25%), Cote d'Ivoire (Most Favoured Nation duty rate treatement, 0.25%), and Cameroon (Most Favoured Nation duty rate treatement, 0.25%).