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2022
Exports $79.1MWorld Rnk 43 / 200
Flag Rnk 408 / 1204
2022
Destination $13.3M China
2021 - 2022
FASTEST GROWING MARKET $13.3MSaudi Arabia
2022
PRODUCT COMPLEXITY IN Scrap Aluminium-0.74Rnk 767 / 1025
2022
Imports $1.84BWorld Rnk 2 / 157
Flag Rnk 53 / 1213
2022
Origin $67.5M United States
2021 - 2022
FASTEST GROWING ORIGIN $67.5MUnited States
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $79.1M in Scrap Aluminium, making it the 43rd largest exporter of Scrap Aluminium in the world. At the same year, Scrap Aluminium was the 408th most exported product in South Korea. The main destination of Scrap Aluminium exports from South Korea are: China ($18.3M), Saudi Arabia ($17.1M), Hong Kong ($11.5M), Vietnam ($11M), and Japan ($8.5M).

The fastest growing export markets for Scrap Aluminium of South Korea between 2021 and 2022 were Saudi Arabia ($13.3M), China ($11.8M), and Hong Kong ($5.19M).

Imports In 2022, South Korea imported $1.84B in Scrap Aluminium, becoming the 2nd largest importer of Scrap Aluminium in the world. At the same year, Scrap Aluminium was the 53rd most imported product in South Korea. South Korea imports Scrap Aluminium primarily from: United States ($547M), Thailand ($202M), Japan ($166M), Australia ($130M), and Chinese Taipei ($125M).

The fastest growing import markets in Scrap Aluminium for South Korea between 2021 and 2022 were United States ($67.5M), Thailand ($61.6M), and Australia ($36.7M).

COMPANIES In 2023, leading companies such as LG Electronics (3) and Walong Marketing (1) were at the forefront of shipping Scrap Aluminium from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Scrap Aluminium exports accounted up to $9.37M and imports accounted up to $150M, resulting in a negative trade balance of $141M. Between October 2023 and October 2024 the exports of South Korea's   Scrap Aluminium have increased by $3.91M (71.7%) from $5.46M to $9.37M, while imports increased by $29.2M (24.2%) from $121M to $150M.

Destinations In October 2024, Scrap Aluminium were exported mostly to Thailand ($1.93M), Vietnam ($1.57M), Saudi Arabia ($1.48M), Japan ($1.02M), and Canada ($810k), and were imported mostly from United States ($30.8M), Japan ($16.4M), Thailand ($16.2M), Australia ($11.9M), and Chinese Taipei ($8.95M).

Growth In October 2024, the increase in Scrap Aluminium's year-by-year exports was explained primarily by an increase in exports to China ($1.18M or 110%), Hong Kong ($362k or 71.5%), and Canada ($278k or 99.3%). In October 2024, the increase in Scrap Aluminium's year-by-year imports was explained primarily by an increase in imports from Thailand ($4.21M or 47.8%), Morocco ($2.42M or 255%), and South Africa ($1.58M or 221%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$3.91M(71.7%)
IMPORT GROWTH (October 2023 - October 2024)$29.2M(24.2%)
MAIN DESTINATION (October 2024)Thailand$1.93M

This section shows Scrap Aluminium'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 Scrap Aluminium over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$79.1M
IMPORTS (2022)$1.84B
NET TRADE (2022)-$1.76B

In 2022, South Korea exported $79.1M in Scrap Aluminium. The main destinations of South Korea exports on Scrap Aluminium were China ($18.3M), Saudi Arabia ($17.1M), Hong Kong ($11.5M), Vietnam ($11M), and Japan ($8.5M).

In 2022, South Korea imported $1.84B in Scrap Aluminium, mainly from United States ($547M), Thailand ($202M), Japan ($166M), Australia ($130M), and Chinese Taipei ($125M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Scrap Aluminium EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Saudi Arabia$13.3M (355%)
China$11.8M (184%)
Hong Kong$5.19M (82.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Aluminium BY South Korea WERE (2021 - 2022):
Chinese Taipei-$1.43M (-80.9%)
Canada-$712k (-20.7%)
India-$470k (-64.6%)
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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 Scrap Aluminium were:
United States $3.83B
Germany $2.28B
Canada $1.36B
In 2022, South Korea's main importing competitors in Scrap Aluminium were:
India $3.5B
Germany $1.76B

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Trade Value of Scrap Aluminium by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $11.6M
TOP IMPORT POTENTIALMexico+ $15.4M

Scrap Aluminium’s highest export potential is China. With an export gap of $11.6M.   Scrap Aluminium’s highest import potential is Mexico with an import gap of $15.4M.

See methodology.

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