Organic chemicals in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $25.4B in Organic chemicals, making it the 6th largest exporter of Organic chemicals in the world. At the same year, Organic chemicals was the 7th most exported product in South Korea. The main destination of Organic chemicals exports from South Korea are: China ($11.3B), United States ($2.23B), Chinese Taipei ($1.91B), Japan ($1.59B), and India ($1.09B).

The fastest growing export markets for Organic chemicals of South Korea between 2021 and 2022 were United States ($785M), Japan ($234M), and Lithuania ($152M).

Imports In 2022, South Korea imported $15.7B in Organic chemicals, becoming the 11th largest importer of Organic chemicals in the world. At the same year, Organic chemicals was the 8th most imported product in South Korea. South Korea imports Organic chemicals primarily from: China ($6.11B), Japan ($2.54B), United States ($1.9B), Germany ($814M), and Chinese Taipei ($743M).

The fastest growing import markets in Organic chemicals for South Korea between 2021 and 2022 were China ($602M), Trinidad and Tobago ($85.9M), and India ($80.8M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (530k), SAMSUNG ELECTRONICS AMERICA (32.7k), and NEXEN TIRE AMERICA INC. (1.25k) were at the forefront of shipping Organic chemicals from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Organic chemicals exports accounted up to $1.84B and imports accounted up to $1.06B, resulting in a positive trade balance of $788M. Between February 2023 and February 2024 the exports of South Korea's Organic chemicals have increased by $60.4M (3.38%) from $1.78B to $1.84B, while imports decreased by $-55.4M (-4.98%) from $1.11B to $1.06B.

Destinations In February 2024, Organic chemicals were exported mostly to China ($812M), United States ($179M), Turkey ($126M), Chinese Taipei ($122M), and India ($113M), and were imported mostly from China ($342M), Japan ($198M), United States ($148M), India ($71.2M), and Chinese Taipei ($52.7M).

Growth In February 2024, the increase in Organic chemicals's year-by-year exports was explained primarily by an increase in exports to India ($31M or 39%), Italy ($9.64M or 88.7%), and Malaysia ($9.39M or 91.6%). In February 2024, the decrease in Organic chemicals's year-by-year imports was explained primarily by a decrease in imports from China ($-142M or -24.6%), Japan ($-75.8M or -30.3%), and Chinese Taipei ($-33M or -44.2%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$60.4M(3.38%)

IMPORT GROWTH (February 2023 - February 2024)$-55.4M(-4.98%)

MAIN DESTINATION (February 2024)China$812M

This section shows Organic 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 Organic chemicals over time.

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