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2022
Exports $69.7MWorld Rnk 21 / 148
Flag Rnk 430 / 1204
2022
Destination $4.88M United States
2021 - 2022
FASTEST GROWING MARKET $4.88MUnited States
2022
PRODUCT COMPLEXITY IN Rock Wool0.63Rnk 307 / 1025
2022
Imports $94.2MWorld Rnk 20 / 215
Flag Rnk 524 / 1213
2022
Origin $2.18M Japan
2021 - 2022
FASTEST GROWING ORIGIN $2.18MFrance
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $69.7M in Rock Wool, making it the 21st largest exporter of Rock Wool in the world. At the same year, Rock Wool was the 430th most exported product in South Korea. The main destination of Rock Wool exports from South Korea are: United States ($17.9M), Czechia ($7.4M), Mexico ($7.17M), Vietnam ($7.17M), and India ($6.18M).

The fastest growing export markets for Rock Wool of South Korea between 2021 and 2022 were United States ($4.88M), Vietnam ($3.53M), and Indonesia ($1.03M).

Imports In 2022, South Korea imported $94.2M in Rock Wool, becoming the 20th largest importer of Rock Wool in the world. At the same year, Rock Wool was the 524th most imported product in South Korea. South Korea imports Rock Wool primarily from: Japan ($42.5M), China ($18.5M), United States ($13.9M), Netherlands ($4.47M), and United Kingdom ($4.13M).

The fastest growing import markets in Rock Wool for South Korea between 2021 and 2022 were France ($2.18M), Estonia ($507k), and United Kingdom ($453k).

COMPANIES In 2023, leading companies such as Robert Bosch (6) and General Motors (5) were at the forefront of shipping Rock Wool from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Rock Wool exports accounted up to $6.12M and imports accounted up to $8.64M, resulting in a negative trade balance of $2.52M. Between July 2023 and July 2024 the exports of South Korea's   Rock Wool have increased by $367k (6.38%) from $5.76M to $6.12M, while imports increased by $265k (3.16%) from $8.38M to $8.64M.

Destinations In July 2024, Rock Wool were exported mostly to United States ($1.07M), Mexico ($1.03M), Vietnam ($1.03M), India ($794k), and Japan ($607k), and were imported mostly from Japan ($3.25M), China ($2.2M), United States ($1.23M), Brazil ($912k), and Germany ($312k).

Growth In July 2024, the increase in Rock Wool's year-by-year exports was explained primarily by an increase in exports to Indonesia ($525k or 453%), India ($324k or 70.3%), and Vietnam ($228k or 165%). In July 2024, the increase in Rock Wool's year-by-year imports was explained primarily by an increase in imports from France ($1.3M or 2.4k%), Japan ($1.11M or 47.6%), and United Kingdom ($480k or 686%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$367k(6.38%)
IMPORT GROWTH (July 2023 - July 2024)$265k(3.16%)
MAIN DESTINATION (July 2024)United States$1.07M

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 (2022)$69.7M
IMPORTS (2022)$94.2M
NET TRADE (2022)-$24.5M

In 2022, South Korea exported $69.7M in Rock Wool. The main destinations of South Korea exports on Rock Wool were United States ($17.9M), Czechia ($7.4M), Mexico ($7.17M), Vietnam ($7.17M), and India ($6.18M).

In 2022, South Korea imported $94.2M in Rock Wool, mainly from Japan ($42.5M), China ($18.5M), United States ($13.9M), Netherlands ($4.47M), and United Kingdom ($4.13M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Rock Wool EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$4.88M (37.4%)
Vietnam$3.53M (96.8%)
Indonesia$1.03M (172%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Rock Wool BY South Korea WERE (2021 - 2022):
China-$1.92M (-38.3%)
Turkey-$1.78M (-92.9%)
Mexico-$1.71M (-19.3%)
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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 Rock Wool were:
Germany $667M
Poland $567M
China $552M
In 2022, South Korea's main importing competitors in Rock Wool were:
Germany $513M
United States $426M
Italy $356M

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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.

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