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2023
Exports $45.5MWorld Rnk 27 / 147
Flag Rnk 463 / 1188
2023
Destination $7.65MN/A
2022 - 2023
FASTEST GROWING MARKET $7.65MIndonesia
2023
PRODUCT COMPLEXITY IN Rock Wool0.69Rnk 288 / 1025
2023
Imports $89.7MWorld Rnk 18 / 220
Flag Rnk 497 / 1208
2023
Origin $3.82M Japan
2022 - 2023
FASTEST GROWING ORIGIN $3.82MUnited Kingdom
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

The fastest growing export markets for Rock Wool of South Korea between 2022 and 2023 were Indonesia ($7.65M), Japan ($1.51M), and Brazil ($842k).

Imports In 2023, South Korea imported $89.7M in Rock Wool, becoming the 18th largest importer of Rock Wool in the world. At the same year, Rock Wool was the 497th most imported product in South Korea. South Korea imports Rock Wool primarily from: Japan ($37.3M), China ($20.8M), United States ($11.7M), United Kingdom ($6.52M), and Netherlands ($3.9M).

The fastest growing import markets in Rock Wool for South Korea between 2022 and 2023 were United Kingdom ($3.82M), China ($2.59M), and Brazil ($2.45M).

COMPANIES In 2024, leading companies such as LG Electronics (2) were at the forefront of shipping Rock Wool from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Rock Wool exports accounted up to $5.46M and imports accounted up to $10.4M, resulting in a negative trade balance of $4.9M. Between December 2023 and December 2024 the exports of South Korea's   Rock Wool have decreased by $-1.71M (-23.9%) from $7.16M to $5.46M, while imports increased by $2.03M (24.3%) from $8.33M to $10.4M.

Destinations In December 2024, Rock Wool were exported mostly to United States ($1.41M), Mexico ($1.34M), Vietnam ($628k), China ($402k), and India ($369k), and were imported mostly from Japan ($3.73M), China ($3.52M), United States ($1.66M), France ($355k), and United Kingdom ($298k).

Growth In December 2024, the decrease in Rock Wool's year-by-year exports was explained primarily by a decrease in exports to N/A. In December 2024, the increase in Rock Wool's year-by-year imports was explained primarily by an increase in imports from Poland ($132k or 264%), Brazil ($55k or 19%), and United States ($27k or 3.16%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-1.71M(-23.9%)
IMPORT GROWTH (December 2023 - December 2024)$2.03M(24.3%)
MAIN DESTINATION (December 2024)United States$1.41M

This section shows Rock Wool'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 Rock Wool over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$45.5M
IMPORTS (2023)$89.7M
NET TRADE (2023)-$44.2M

In 2023, South Korea imported $89.7M in Rock Wool, mainly from Japan ($37.3M), China ($20.8M), United States ($11.7M), United Kingdom ($6.52M), and Netherlands ($3.9M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Rock Wool EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Indonesia$7.65M (478%)
Japan$1.51M (16.5%)
Brazil$842k (172%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Rock Wool BY South Korea WERE (2022 - 2023):
Mexico-$6.69M (-97.9%)
Vietnam-$5.32M (-100%)
India-$4.13M (-90.6%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Rock Wool were:
Germany $585M
Poland $564M
United States $504M
In 2023, South Korea's main importing competitors in Rock Wool were:
Germany $535M
United States $420M
Italy $311M

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Trade Value of Rock Wool by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $2.37M
TOP IMPORT POTENTIALChina+ $6.29M

Rock Wool’s highest export potential is China. With an export gap of $2.37M.   Rock Wool’s highest import potential is China with an import gap of $6.29M.

See methodology.

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