Plastics and articles thereof in South Korea 2020 Exports | Imports : $31.2B | $10.8B, World Rnk 4 / 226 Rnk 4 / 96 | World Rnk 17 / 226 Rnk 9 / 96
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $454M | $211M, China | China
2020 ECONOMIC COMPLEXITY of South Korea: 1.88, Rnk 5 / 127
2020 PRODUCT COMPLEXITY IN Plastics and articles thereof: 1.74, Rnk 21 / 1029
Exports In 2020, South Korea exported $31.2B 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 4th most exported product in South Korea. The main destination of Plastics and articles thereof exports from South Korea are: China ($10.2B), Vietnam ($2.99B), United States ($2.96B), Japan ($1.45B), and India ($1.29B).
The fastest growing export markets for Plastics and articles thereof of South Korea between 2019 and 2020 were China ($454M), Poland ($126M), and Hungary ($112M).
Imports In 2020, 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: China ($3.2B), Japan ($2.93B), United States ($1.51B), Germany ($507M), and Chinese Taipei ($366M).
The fastest growing import markets in Plastics and articles thereof for South Korea between 2019 and 2020 were China ($211M), Vietnam ($20.1M), and Belgium ($15.8M).
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%).
November 2022
Overview In November 2022 South Korea's Plastics and articles thereof exports accounted up to $2.64B and imports accounted up to $1.06B, resulting in a positive trade balance of $1.58B. Between November 2021 and November 2022 the exports of South Korea's Plastics and articles thereof have decreased by $-1.01B (-27.8%) from $3.65B to $2.64B, while imports decreased by $-171M (-13.9%) from $1.23B to $1.06B.
Destinations In November 2022, Plastics and articles thereof were exported mostly to China ($825M), United States ($277M), Vietnam ($251M), Japan ($132M), and India ($125M), and were imported mostly from China ($381M), Japan ($221M), United States ($140M), Germany ($51.3M), and Vietnam ($35.5M).
Growth In November 2022, the decrease in Plastics and articles thereof's year-by-year exports was explained primarily by a decrease in exports to Italy ($-4.37M or -10.6%), Angola ($-2.24M or -83.3%), and Portugal ($-2.06M or -30.7%). In November 2022, the decrease in Plastics and articles thereof's year-by-year imports was explained primarily by a decrease in imports from United States ($-9.33M or -6.94%), United Kingdom ($-2.74M or -29.6%), and India ($-1.97M or -34.2%).
EXPORT GROWTH (November 2021 - November 2022): $-1.01B, (-27.8%)
IMPORT GROWTH (November 2021 - November 2022): $-171M, (-13.9%)
MAIN DESTINATION (November 2022): China, $825M
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 (2020): $31.2B
IMPORTS (2020): $10.8B
NET TRADE (2020): $20.4B
In 2020, South Korea exported $31.2B in Plastics and articles thereof. The main destinations of South Korea exports on Plastics and articles thereof were China ($10.2B), Vietnam ($2.99B), United States ($2.96B), Japan ($1.45B), and India ($1.29B).
In 2020, South Korea imported $10.8B in Plastics and articles thereof, mainly from China ($3.2B), Japan ($2.93B), United States ($1.51B), Germany ($507M), and Chinese Taipei ($366M).
THE FASTEST GROWING Plastics and articles thereof EXPORT MARKETS FOR South Korea WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Plastics and articles thereof BY South Korea WERE (2019 - 2020):
In 2020, South Korea's main exporting competitors in Plastics and articles thereof were:
In 2020, South Korea's main importing competitors in Plastics and articles thereof were:
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