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2022
Exports $44.9BWorld Rnk 4 / 226
Flag Rnk 5 / 96
2022
Destination $974M China
2021 - 2022
FASTEST GROWING MARKET $974MUnited States
2022
PRODUCT COMPLEXITY IN Plastics & articles thereof1.72Rnk 19 / 1025
2022
Imports $13.8BWorld Rnk 17 / 226
Flag Rnk 9 / 96
2022
Origin $380M China
2021 - 2022
FASTEST GROWING ORIGIN $380MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $44.9B in Plastics & articles thereof, making it the 4th largest exporter of Plastics & articles thereof in the world. At the same year, Plastics & articles thereof was the 5th most exported product in South Korea. The main destination of Plastics & articles thereof exports from South Korea are: China ($12.1B), United States ($5.42B), Vietnam ($4B), Japan ($2.27B), and India ($2.09B).

The fastest growing export markets for Plastics & articles thereof of South Korea between 2021 and 2022 were United States ($974M), Japan ($551M), and Chinese Taipei ($292M).

Imports In 2022, South Korea imported $13.8B in Plastics & articles thereof, becoming the 17th largest importer of Plastics & articles thereof in the world. At the same year, Plastics & articles thereof was the 9th most imported product in South Korea. South Korea imports Plastics & articles thereof primarily from: China ($5.11B), Japan ($2.89B), United States ($1.94B), Germany ($616M), and Chinese Taipei ($418M).

The fastest growing import markets in Plastics & articles thereof for South Korea between 2021 and 2022 were China ($380M), United States ($338M), and Sweden ($92M).

COMPANIES In 2023, leading companies such as LG Electronics (304), Samsung (179), and Fuyao Glass (39) were at the forefront of shipping Plastics & articles thereof from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Plastics & articles thereof exports accounted up to $2.97B and imports accounted up to $1.12B, resulting in a positive trade balance of $1.85B. Between October 2023 and October 2024 the exports of South Korea's   Plastics & articles thereof have increased by $246M (9.01%) from $2.73B to $2.97B, while imports increased by $16.2M (1.46%) from $1.11B to $1.12B.

Destinations In October 2024, Plastics & articles thereof were exported mostly to China ($863M), United States ($325M), Vietnam ($298M), India ($174M), and Japan ($137M), and were imported mostly from China ($430M), Japan ($267M), United States ($141M), Germany ($46.8M), and Vietnam ($40M).

Growth In October 2024, the increase in Plastics & articles thereof's year-by-year exports was explained primarily by an increase in exports to Turkey ($18.5M or 13.6%), Democratic Republic of the Congo ($3.38M or 297%), and Algeria ($2.34M or 142%). In October 2024, the increase in Plastics & articles thereof's year-by-year imports was explained primarily by an increase in imports from South Africa ($2.3M or 5.34k%), Italy ($2.12M or 19.4%), and United States ($2.02M or 1.54%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$246M(9.01%)
IMPORT GROWTH (October 2023 - October 2024)$16.2M(1.46%)
MAIN DESTINATION (October 2024)China$863M

This section shows Plastics & 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 & articles thereof over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$44.9B
IMPORTS (2022)$13.8B
NET TRADE (2022)$31.1B

In 2022, South Korea exported $44.9B in Plastics & articles thereof. The main destinations of South Korea exports on Plastics & articles thereof were China ($12.1B), United States ($5.42B), Vietnam ($4B), Japan ($2.27B), and India ($2.09B).

In 2022, South Korea imported $13.8B in Plastics & articles thereof, mainly from China ($5.11B), Japan ($2.89B), United States ($1.94B), Germany ($616M), and Chinese Taipei ($418M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Plastics & articles thereof EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$974M (21.9%)
Japan$551M (32.1%)
Chinese Taipei$292M (45.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Plastics & articles thereof BY South Korea WERE (2021 - 2022):
China-$859M (-6.64%)
Hong Kong-$424M (-51.7%)
Poland-$214M (-27.4%)
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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 Plastics & articles thereof were:
China $156B
United States $95.2B
Germany $86.5B
In 2022, South Korea's main importing competitors in Plastics & articles thereof were:
United States $96.2B
China $73.4B
Germany $59.1B

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Trade Value of Plastics & articles thereof by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $887M
TOP IMPORT POTENTIALChina+ $999M

Plastics & articles thereof’s highest export potential is China. With an export gap of $887M.   Plastics & articles thereof’s highest import potential is China with an import gap of $999M.

See methodology.

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