Plastics and articles thereof in South Korea 2019 Exports | Imports : $32.5B | $10.8B, World Rnk 4 / 225 Rnk 5 / 96 | World Rnk 17 / 225 Rnk 9 / 96
2018 - 2019 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $171M | $79.9M, United States | China
2019 ECONOMIC COMPLEXITY of South Korea: 1.9, Rnk 5 / 147
2019 PRODUCT COMPLEXITY IN Plastics and articles thereof: 1.03, Rnk 15 / 96
Exports In 2019, South Korea exported $32.5B in Plastics and articles thereof, making it the 4th largest exporter of Plastics and articles thereof in the world. At the same year, Plastics and articles thereof was the 5th most exported product in South Korea. The main destination of Plastics and articles thereof exports from South Korea are: China ($9.74B), Vietnam ($3.09B), United States ($2.99B), Japan ($1.64B), and India ($1.6B).
The fastest growing export markets for Plastics and articles thereof of South Korea between 2018 and 2019 were United States ($171M), Poland ($73.2M), and Hungary ($49.5M).
Imports In 2019, South Korea imported $10.8B in Plastics and articles thereof, becoming the 17th largest importer of Plastics and articles thereof in the world. At the same year, Plastics and articles thereof was the 9th most imported product in South Korea. South Korea imports Plastics and articles thereof primarily from: Japan ($3.01B), China ($2.95B), United States ($1.59B), Germany ($507M), and Chinese Taipei ($492M).
The fastest growing import markets in Plastics and articles thereof for South Korea between 2018 and 2019 were China ($79.9M), Vietnam ($15.4M), and France ($10.9M).
Tariffs In 2018, the average tariff for South Korea in Plastics and articles thereof was 4.15%. The countries with the highest import tariffs for Plastics and articles thereof were Cameroon (Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries, 7.2%), Algeria (Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries, 7.2%), Egypt (Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries, 7.2%), Ghana (Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries, 7.2%), and Libya (Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries, 7.2%).
June 2021
Overview In June 2021 South Korea's Plastics and articles thereof exports accounted up to $3.73B and imports accounted up to $1.23B, resulting in a positive trade balance of $2.5B. Between June 2020 and June 2021 the exports of South Korea's Plastics and articles thereof have increased by $1.34B (56%) from $2.39B to $3.73B, while imports increased by $282M (29.9%) from $943M to $1.23B.
Destinations In June 2021, Plastics and articles thereof were exported mostly to China ($1.06B), United States ($416M), Vietnam ($351M), Japan ($158M), and Turkey ($125M), and were imported mostly from China ($408M), Japan ($307M), United States ($138M), Chinese Taipei ($56.9M), and Germany ($50.5M).
Growth In June 2021, the increase in Plastics and articles thereof's year-by-year exports was explained primarily by an increase in exports to United States ($195M or 88.5%), China ($121M or 12.9%), and Vietnam ($120M or 51.7%). In June 2021, the increase in Plastics and articles thereof's year-by-year imports was explained primarily by an increase in imports from China ($154M or 60.4%), Japan ($56.2M or 22.4%), and Chinese Taipei ($21.6M or 61.1%).
EXPORT GROWTH (June 2020 - June 2021): $1.34B, (56%)
IMPORT GROWTH (June 2020 - June 2021): $282M, (29.9%)
MAIN DESTINATION (June 2021): China, $1.06B
This section shows Plastics and articles thereof'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 Plastics and articles thereof over time.
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EXPORTS (2019): $32.5B
IMPORTS (2019): $10.8B
NET TRADE (2019): $21.7B
In 2019, South Korea exported $32.5B in Plastics and articles thereof. The main destinations of South Korea exports on Plastics and articles thereof were China ($9.74B), Vietnam ($3.09B), United States ($2.99B), Japan ($1.64B), and India ($1.6B).
In 2019, South Korea imported $10.8B in Plastics and articles thereof, mainly from Japan ($3.01B), China ($2.95B), United States ($1.59B), Germany ($507M), and Chinese Taipei ($492M).
IN 2019, South Korea HAD A POSITIVE NET TRADE IN Plastics and articles thereof WITH:
IN 2019, South Korea HAD A NEGATIVE NET TRADE IN Plastics and articles thereof WITH:
THE FASTEST GROWING Plastics and articles thereof EXPORT MARKETS FOR South Korea WERE (2018 - 2019):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Plastics and articles thereof BY South Korea WERE (2018 - 2019):
In 2019, South Korea's main exporting competitors in Plastics and articles thereof were:
In 2019, South Korea's main importing competitors in Plastics and articles thereof were:
In 2018, the average tariff for South Korea in Plastics and articles thereof was 4.15%.
The countries with the highest tariffs for Plastics and articles thereof in South Korea were Cameroon (Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries, 7.2%), Algeria (Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries, 7.2%), Egypt (Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries, 7.2%), Ghana (Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries, 7.2%), and Libya (Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries, 7.2%).