Paints, dyes, & varnishes in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $2.38B in Paints, dyes, & varnishes, making it the 12th largest exporter of Paints, dyes, & varnishes in the world. At the same year, Paints, dyes, & varnishes was the 21st most exported product in South Korea. The main destination of Paints, dyes, & varnishes exports from South Korea are: China ($711M), Vietnam ($270M), United States ($162M), Philippines ($129M), and India ($107M).

The fastest growing export markets for Paints, dyes, & varnishes of South Korea between 2021 and 2022 were Philippines ($104M), United States ($22.3M), and Vietnam ($12.2M).

Imports In 2022, South Korea imported $2.3B in Paints, dyes, & varnishes, becoming the 14th largest importer of Paints, dyes, & varnishes in the world. At the same year, Paints, dyes, & varnishes was the 35th most imported product in South Korea. South Korea imports Paints, dyes, & varnishes primarily from: Japan ($676M), China ($530M), United States ($416M), Germany ($143M), and India ($92.5M).

The fastest growing import markets in Paints, dyes, & varnishes for South Korea between 2021 and 2022 were United States ($33.1M), Chinese Taipei ($9.12M), and United Kingdom ($6.27M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (177k), SAMSUNG ELECTRONICS AMERICA (196), and ELECTROLUX HOME PRODUCTS, INC. (168) were at the forefront of shipping Paints, dyes, & varnishes from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Paints, dyes, & varnishes exports accounted up to $245M and imports accounted up to $170M, resulting in a positive trade balance of $75.1M. Between February 2023 and February 2024 the exports of South Korea's Paints, dyes, & varnishes have increased by $38.9M (18.9%) from $206M to $245M, while imports decreased by $-4.54M (-2.6%) from $174M to $170M.

Destinations In February 2024, Paints, dyes, & varnishes were exported mostly to China ($95.9M), Vietnam ($21.1M), Russia ($17.9M), United States ($14.6M), and Philippines ($12.8M), and were imported mostly from Japan ($52.3M), China ($37.1M), United States ($30.3M), Germany ($14M), and India ($6.38M).

Growth In February 2024, the increase in Paints, dyes, & varnishes's year-by-year exports was explained primarily by an increase in exports to Russia ($1.37M or 65.5%), United Arab Emirates ($649k or 38.6%), and Singapore ($523k or 65.8%). In February 2024, the decrease in Paints, dyes, & varnishes's year-by-year imports was explained primarily by a decrease in imports from Japan ($-22.6M or -32%), China ($-21.3M or -33.7%), and United States ($-6.41M or -15.8%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$38.9M(18.9%)

IMPORT GROWTH (February 2023 - February 2024)$-4.54M(-2.6%)

MAIN DESTINATION (February 2024)China$95.9M

This section shows Paints, dyes, & varnishes'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 Paints, dyes, & varnishes over time.

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