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2022
Exports $4.21MWorld Rnk 28 / 109
Flag Rnk 852 / 1204
2022
Destination $658k Vietnam
2021 - 2022
FASTEST GROWING MARKET $658kVietnam
2022
PRODUCT COMPLEXITY IN Nitrites and Nitrates-0.15Rnk 597 / 1025
2022
Imports $49.8MWorld Rnk 12 / 183
Flag Rnk 670 / 1213
2022
Origin $3.84M China
2021 - 2022
FASTEST GROWING ORIGIN $3.84MChile
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $4.21M in Nitrites and Nitrates, making it the 28th largest exporter of Nitrites and Nitrates in the world. At the same year, Nitrites and Nitrates was the 852nd most exported product in South Korea. The main destination of Nitrites and Nitrates exports from South Korea are: Vietnam ($1.56M), Nigeria ($592k), Germany ($537k), Japan ($527k), and Malaysia ($393k).

The fastest growing export markets for Nitrites and Nitrates of South Korea between 2021 and 2022 were Vietnam ($658k), Nigeria ($592k), and Japan ($364k).

Imports In 2022, South Korea imported $49.8M in Nitrites and Nitrates, becoming the 12th largest importer of Nitrites and Nitrates in the world. At the same year, Nitrites and Nitrates was the 670th most imported product in South Korea. South Korea imports Nitrites and Nitrates primarily from: China ($22.6M), Chile ($8.23M), Israel ($4.12M), Japan ($3.88M), and Spain ($3.31M).

The fastest growing import markets in Nitrites and Nitrates for South Korea between 2021 and 2022 were Chile ($3.84M), Israel ($2.28M), and Japan ($1.18M).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Nitrites and Nitrates exports accounted up to $275k and imports accounted up to $3.02M, resulting in a negative trade balance of $2.75M. Between July 2023 and July 2024 the exports of South Korea's   Nitrites and Nitrates have increased by $74k (36.8%) from $201k to $275k, while imports increased by $1.05M (53.6%) from $1.97M to $3.02M.

Destinations In July 2024, Nitrites and Nitrates were exported mostly to Vietnam ($159k), Uzbekistan ($51k), United States ($31k), Chinese Taipei ($12k), and Malaysia ($9k), and were imported mostly from China ($1.08M), Chile ($506k), Israel ($321k), Spain ($252k), and Norway ($196k).

Growth In July 2024, the increase in Nitrites and Nitrates's year-by-year exports was explained primarily by an increase in exports to . In July 2024, the increase in Nitrites and Nitrates's year-by-year imports was explained primarily by an increase in imports from Japan ($216k or 148%), India ($91k or 58.7%), and Belgium ($33k or 3.3k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$74k(36.8%)
IMPORT GROWTH (July 2023 - July 2024)$1.05M(53.6%)
MAIN DESTINATION (July 2024)Vietnam$159k

This section shows Nitrites and Nitrates'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 Nitrites and Nitrates over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$4.21M
IMPORTS (2022)$49.8M
NET TRADE (2022)-$45.6M

In 2022, South Korea exported $4.21M in Nitrites and Nitrates. The main destinations of South Korea exports on Nitrites and Nitrates were Vietnam ($1.56M), Nigeria ($592k), Germany ($537k), Japan ($527k), and Malaysia ($393k).

In 2022, South Korea imported $49.8M in Nitrites and Nitrates, mainly from China ($22.6M), Chile ($8.23M), Israel ($4.12M), Japan ($3.88M), and Spain ($3.31M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Nitrites and Nitrates EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Vietnam$658k (73.1%)
Nigeria$592k (1%)
Japan$364k (223%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Nitrites and Nitrates BY South Korea WERE (2021 - 2022):
China-$314k (-74.7%)
Cambodia-$72.8k (-93.5%)
India-$63.8k (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Nitrites and Nitrates were:
Chile $587M
China $269M
Israel $187M
In 2022, South Korea's main importing competitors in Nitrites and Nitrates were:
Netherlands $269M
Spain $201M
United States $160M

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Trade Value of Nitrites and Nitrates by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $160k
TOP IMPORT POTENTIALIndia+ $691k

Nitrites and Nitrates’s highest export potential is Japan. With an export gap of $160k.   Nitrites and Nitrates’s highest import potential is India with an import gap of $691k.

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