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2022
Exports $5.07BWorld Rnk 33 / 220
Flag Rnk 18 / 96
2022
Destination $330M Japan
2021 - 2022
FASTEST GROWING MARKET $330MSingapore
2022
PRODUCT COMPLEXITY IN Precious stones, metals, & pearls0.58Rnk 328 / 1025
2022
Imports $5.67BWorld Rnk 23 / 225
Flag Rnk 19 / 96
2022
Origin $571M Japan
2021 - 2022
FASTEST GROWING ORIGIN $571MJapan
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $5.07B in Precious stones, metals, & pearls, making it the 33rd largest exporter of Precious stones, metals, & pearls in the world. At the same year, Precious stones, metals, & pearls was the 18th most exported product in South Korea. The main destination of Precious stones, metals, & pearls exports from South Korea are: Japan ($1.11B), United States ($782M), Hong Kong ($565M), Singapore ($386M), and United Kingdom ($372M).

The fastest growing export markets for Precious stones, metals, & pearls of South Korea between 2021 and 2022 were Singapore ($330M), Thailand ($137M), and Switzerland ($134M).

Imports In 2022, South Korea imported $5.67B in Precious stones, metals, & pearls, becoming the 23rd largest importer of Precious stones, metals, & pearls in the world. At the same year, Precious stones, metals, & pearls was the 19th most imported product in South Korea. South Korea imports Precious stones, metals, & pearls primarily from: Japan ($1.19B), Australia ($747M), United States ($551M), United Kingdom ($424M), and Switzerland ($379M).

The fastest growing import markets in Precious stones, metals, & pearls for South Korea between 2021 and 2022 were Japan ($571M), United Arab Emirates ($129M), and Italy ($70.3M).

COMPANIES In 2023, leading companies such as Samsung (39), Stelfast (34), and LG Electronics (8) were at the forefront of shipping Precious stones, metals, & pearls from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Precious stones, metals, & pearls exports accounted up to $343M and imports accounted up to $645M, resulting in a negative trade balance of $302M. Between October 2023 and October 2024 the exports of South Korea's   Precious stones, metals, & pearls have decreased by $-6.73M (-1.92%) from $350M to $343M, while imports increased by $253M (64.5%) from $392M to $645M.

Destinations In October 2024, Precious stones, metals, & pearls were exported mostly to Japan ($106M), Hong Kong ($50.1M), United States ($48.4M), Turkey ($35.2M), and Switzerland ($14.2M), and were imported mostly from Australia ($217M), Japan ($78M), South Africa ($54.9M), Italy ($41.9M), and Hong Kong ($41.1M).

Growth In October 2024, the decrease in Precious stones, metals, & pearls's year-by-year exports was explained primarily by a decrease in exports to United States ($-20.9M or -23.7%), Germany ($-16.5M or -82.3%), and Hong Kong ($-14M or -42%). In October 2024, the increase in Precious stones, metals, & pearls's year-by-year imports was explained primarily by an increase in imports from United States ($39.7M or 214%), China ($39.1M or 176%), and Norway ($22.2M or 408%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-6.73M(-1.92%)
IMPORT GROWTH (October 2023 - October 2024)$253M(64.5%)
MAIN DESTINATION (October 2024)Japan$106M

This section shows Precious stones, metals, & pearls'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 Precious stones, metals, & pearls over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$5.07B
IMPORTS (2022)$5.67B
NET TRADE (2022)-$596M

In 2022, South Korea exported $5.07B in Precious stones, metals, & pearls. The main destinations of South Korea exports on Precious stones, metals, & pearls were Japan ($1.11B), United States ($782M), Hong Kong ($565M), Singapore ($386M), and United Kingdom ($372M).

In 2022, South Korea imported $5.67B in Precious stones, metals, & pearls, mainly from Japan ($1.19B), Australia ($747M), United States ($551M), United Kingdom ($424M), and Switzerland ($379M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Precious stones, metals, & pearls EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Singapore$330M (590%)
Thailand$137M (125%)
Switzerland$134M (130%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Precious stones, metals, & pearls BY South Korea WERE (2021 - 2022):
Japan-$724M (-39.6%)
United States-$182M (-18.9%)
United Kingdom-$173M (-31.7%)
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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 Precious stones, metals, & pearls were:
Switzerland $120B
United States $78.4B
United Arab Emirates $61.8B
In 2022, South Korea's main importing competitors in Precious stones, metals, & pearls were:
Switzerland $115B
United Arab Emirates $87.9B
China $87.8B

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Trade Value of Precious stones, metals, & pearls by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $275M
TOP IMPORT POTENTIALChina+ $135M

Precious stones, metals, & pearls’s highest export potential is China. With an export gap of $275M.   Precious stones, metals, & pearls’s highest import potential is China with an import gap of $135M.

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