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2022
Exports $3.44BWorld Rnk 6 / 203
Flag Rnk 33 / 1204
2022
Destination $253M United States
2021 - 2022
FASTEST GROWING MARKET $253MUnited States
2022
PRODUCT COMPLEXITY IN Rubber Tires0.16Rnk 500 / 1025
2022
Imports $939MWorld Rnk 22 / 225
Flag Rnk 115 / 1213
2022
Origin $11.8M China
2021 - 2022
FASTEST GROWING ORIGIN $11.8MThailand
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $3.44B in Rubber Tires, making it the 6th largest exporter of Rubber Tires in the world. At the same year, Rubber Tires was the 33rd most exported product in South Korea. The main destination of Rubber Tires exports from South Korea are: United States ($1.23B), Germany ($220M), Netherlands ($206M), Saudi Arabia ($131M), and United Kingdom ($114M).

The fastest growing export markets for Rubber Tires of South Korea between 2021 and 2022 were United States ($253M), Netherlands ($39.9M), and Italy ($19.4M).

Imports In 2022, South Korea imported $939M in Rubber Tires, becoming the 22nd largest importer of Rubber Tires in the world. At the same year, Rubber Tires was the 115th most imported product in South Korea. South Korea imports Rubber Tires primarily from: China ($275M), Thailand ($273M), Portugal ($66.1M), United States ($61.9M), and Japan ($47.3M).

The fastest growing import markets in Rubber Tires for South Korea between 2021 and 2022 were Thailand ($11.8M), United Kingdom ($4.34M), and Spain ($2.77M).

COMPANIES In 2023, leading companies such as Nexen Tire (916), Hankook Tires (277), and Sumitomo Rubber (40) were at the forefront of shipping Rubber Tires from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Rubber Tires exports accounted up to $345M and imports accounted up to $99.8M, resulting in a positive trade balance of $245M. Between July 2023 and July 2024 the exports of South Korea's   Rubber Tires have increased by $63.2M (22.5%) from $281M to $345M, while imports increased by $9.57M (10.6%) from $90.3M to $99.8M.

Destinations In July 2024, Rubber Tires were exported mostly to United States ($71.4M), Germany ($39.4M), Netherlands ($27.3M), Turkey ($17.3M), and Russia ($16.2M), and were imported mostly from Thailand ($31.8M), China ($30.3M), Portugal ($7.48M), United States ($5.46M), and Japan ($5.13M).

Growth In July 2024, the increase in Rubber Tires's year-by-year exports was explained primarily by an increase in exports to Turkey ($6.14M or 127%), Saudi Arabia ($6.14M or 93.3%), and Germany ($5.87M or 58.5%). In July 2024, the increase in Rubber Tires's year-by-year imports was explained primarily by an increase in imports from Thailand ($7.36M or 47.4%), Portugal ($2.58M or 56.5%), and Mexico ($2.52M or 106%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$63.2M(22.5%)
IMPORT GROWTH (July 2023 - July 2024)$9.57M(10.6%)
MAIN DESTINATION (July 2024)United States$71.4M

This section shows Rubber Tires'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 Rubber Tires over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$3.44B
IMPORTS (2022)$939M
NET TRADE (2022)$2.51B

In 2022, South Korea exported $3.44B in Rubber Tires. The main destinations of South Korea exports on Rubber Tires were United States ($1.23B), Germany ($220M), Netherlands ($206M), Saudi Arabia ($131M), and United Kingdom ($114M).

In 2022, South Korea imported $939M in Rubber Tires, mainly from China ($275M), Thailand ($273M), Portugal ($66.1M), United States ($61.9M), and Japan ($47.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Rubber Tires EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$253M (26%)
Netherlands$39.9M (24.1%)
Italy$19.4M (23.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Rubber Tires BY South Korea WERE (2021 - 2022):
Russia-$29.6M (-26.5%)
Ukraine-$20.1M (-70.2%)
Belarus-$8.97M (-78.9%)
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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 Rubber Tires were:
China $19.6B
Thailand $7.2B
Germany $5.83B
In 2022, South Korea's main importing competitors in Rubber Tires were:
United States $19B
Germany $7.38B
France $4.51B

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Trade Value of Rubber Tires by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $57.1M
TOP IMPORT POTENTIALChina+ $149M

Rubber Tires’s highest export potential is Germany. With an export gap of $57.1M.   Rubber Tires’s highest import potential is China with an import gap of $149M.

See methodology.

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