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2022
Exports $1.88BWorld Rnk 9 / 222
Flag Rnk 59 / 1204
2022
Destination $87.3M China
2021 - 2022
FASTEST GROWING MARKET $87.3MMexico
2022
PRODUCT COMPLEXITY IN Other Iron Products0.8Rnk 243 / 1025
2022
Imports $1.63BWorld Rnk 12 / 225
Flag Rnk 64 / 1213
2022
Origin $108MN/A
2021 - 2022
FASTEST GROWING ORIGIN $108MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $1.88B in Other Iron Products, making it the 9th largest exporter of Other Iron Products in the world. At the same year, Other Iron Products was the 59th most exported product in South Korea. The main destination of Other Iron Products exports from South Korea are: China ($533M), Mexico ($247M), Japan ($215M), Vietnam ($180M), and United States ($179M).

The fastest growing export markets for Other Iron Products of South Korea between 2021 and 2022 were Mexico ($87.3M), United States ($19.1M), and Indonesia ($18.2M).

Imports In 2022, South Korea imported $1.63B in Other Iron Products, becoming the 12th largest importer of Other Iron Products in the world. At the same year, Other Iron Products was the 64th most imported product in South Korea. South Korea imports Other Iron Products primarily from: N/A.

The fastest growing import markets in Other Iron Products for South Korea between 2021 and 2022 were China ($108M), Chinese Taipei ($25.2M), and United States ($11.9M).

COMPANIES In 2023, leading companies such as Samsung (72), Cosentino (27), and Helly Hansen (10) were at the forefront of shipping Other Iron Products from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Other Iron Products exports accounted up to $158M and imports accounted up to $177M, resulting in a negative trade balance of $18.8M. Between July 2023 and July 2024 the exports of South Korea's   Other Iron Products have increased by $4.19M (2.72%) from $154M to $158M, while imports increased by $16.4M (10.2%) from $161M to $177M.

Destinations In July 2024, Other Iron Products were exported mostly to China ($48.7M), United States ($24.7M), Vietnam ($20.4M), Japan ($15.9M), and Mexico ($10.2M), and were imported mostly from China ($99.3M), Japan ($30.6M), United States ($16.6M), Vietnam ($6.12M), and Germany ($4.09M).

Growth In July 2024, the increase in Other Iron Products's year-by-year exports was explained primarily by an increase in exports to Hungary ($1.91M or 637%), Czechia ($1.68M or 121%), and Italy ($1.21M or 81.7%). In July 2024, the increase in Other Iron Products's year-by-year imports was explained primarily by an increase in imports from United States ($1.29M or 10.2%), Turkey ($1.03M or 194%), and Italy ($981k or 48.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$4.19M(2.72%)
IMPORT GROWTH (July 2023 - July 2024)$16.4M(10.2%)
MAIN DESTINATION (July 2024)China$48.7M

This section shows Other Iron Products'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 Other Iron Products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.88B
IMPORTS (2022)$1.63B
NET TRADE (2022)$256M

In 2022, South Korea exported $1.88B in Other Iron Products. The main destinations of South Korea exports on Other Iron Products were China ($533M), Mexico ($247M), Japan ($215M), Vietnam ($180M), and United States ($179M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Other Iron Products EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Mexico$87.3M (54.6%)
United States$19.1M (11.9%)
Indonesia$18.2M (156%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Other Iron Products BY South Korea WERE (2021 - 2022):
Chinese Taipei-$97.4M (-76.8%)
China-$48.2M (-8.29%)
Japan-$39.5M (-15.5%)
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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 Other Iron Products were:
China $18.4B
Germany $6.21B
United States $5.56B
In 2022, South Korea's main importing competitors in Other Iron Products were:
United States $8.99B
Germany $7.58B
Mexico $3.93B

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Trade Value of Other Iron Products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $77.5M
TOP IMPORT POTENTIALChina+ $131M

Other Iron Products’s highest export potential is United States. With an export gap of $77.5M.   Other Iron Products’s highest import potential is China with an import gap of $131M.

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