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2023
Exports $637MWorld Rnk 16 / 195
Flag Rnk 134 / 1188
2023
Destination $249M China
2022 - 2023
FASTEST GROWING MARKET $249MChina
2023
PRODUCT COMPLEXITY IN Scrap Copper-1.03Rnk 837 / 1025
2023
Imports $1.42BWorld Rnk 6 / 140
Flag Rnk 61 / 1208
2023
Origin $57.7M United States
2022 - 2023
FASTEST GROWING ORIGIN $57.7MJapan
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $637M in Scrap Copper, making it the 16th largest exporter of Scrap Copper in the world. At the same year, Scrap Copper was the 134th most exported product in South Korea. The main destination of Scrap Copper exports from South Korea are: China ($584M), Malaysia ($28M), Japan ($13.1M), Spain ($2.74M), and United Arab Emirates ($2.34M).

The fastest growing export markets for Scrap Copper of South Korea between 2022 and 2023 were China ($249M), Malaysia ($20M), and Japan ($3.52M).

Imports In 2023, South Korea imported $1.42B in Scrap Copper, becoming the 6th largest importer of Scrap Copper in the world. At the same year, Scrap Copper was the 61st most imported product in South Korea. South Korea imports Scrap Copper primarily from: United States ($229M), Saudi Arabia ($193M), Japan ($116M), United Arab Emirates ($99.6M), and Mexico ($97.4M).

The fastest growing import markets in Scrap Copper for South Korea between 2022 and 2023 were Japan ($57.7M), India ($14.7M), and Bahrain ($8.81M).

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Scrap Copper exports accounted up to $50.4M and imports accounted up to $195M, resulting in a negative trade balance of $145M. Between December 2023 and December 2024 the exports of South Korea's   Scrap Copper have increased by $35.3M (233%) from $15.1M to $50.4M, while imports increased by $25M (14.7%) from $170M to $195M.

Destinations In December 2024, Scrap Copper were exported mostly to China ($41.4M), Malaysia ($5.23M), Japan ($1.71M), Thailand ($1.65M), and Greece ($316k), and were imported mostly from Saudi Arabia ($22.3M), United States ($19.3M), Mexico ($18.4M), Nigeria ($10.4M), and Philippines ($8.87M).

Growth In December 2024, the increase in Scrap Copper's year-by-year exports was explained primarily by an increase in exports to China ($5.01M or 102%), Malaysia ($2.11M or 468%), and Thailand ($238k or 70.4%). In December 2024, the increase in Scrap Copper's year-by-year imports was explained primarily by an increase in imports from Japan ($6.85M or 121%), Thailand ($3.05M or 60%), and Germany ($2.26M or 395%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$35.3M(233%)
IMPORT GROWTH (December 2023 - December 2024)$25M(14.7%)
MAIN DESTINATION (December 2024)China$41.4M

This section shows Scrap Copper'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 Copper over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$637M
IMPORTS (2023)$1.42B
NET TRADE (2023)-$787M

In 2023, South Korea exported $637M in Scrap Copper. The main destinations of South Korea exports on Scrap Copper were China ($584M), Malaysia ($28M), Japan ($13.1M), Spain ($2.74M), and United Arab Emirates ($2.34M).

In 2023, South Korea imported $1.42B in Scrap Copper, mainly from United States ($229M), Saudi Arabia ($193M), Japan ($116M), United Arab Emirates ($99.6M), and Mexico ($97.4M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Scrap Copper EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
China$249M (74.1%)
Malaysia$20M (251%)
Japan$3.52M (36.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Copper BY South Korea WERE (2022 - 2023):
Hong Kong-$3.72M (-92.9%)
Greece-$2M (-80.9%)
Philippines-$1.31M (-92.8%)
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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 Scrap Copper were:
United States $4.68B
Japan $2.43B
Germany $2.27B
In 2023, South Korea's main importing competitors in Scrap Copper were:
China $12.5B
Germany $3.14B
India $1.63B

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Trade Value of Scrap Copper by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $25M
TOP IMPORT POTENTIALJapan+ $28.3M

Scrap Copper’s highest export potential is China. With an export gap of $25M.   Scrap Copper’s highest import potential is Japan with an import gap of $28.3M.

See methodology.

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