2022
Exports
$195MWorld Rnk 2 / 84
Flag Rnk 281 / 1204
2022
PRODUCT COMPLEXITY IN Scrap Vessels
-1.24Rnk 890 / 1025
2022
Imports
$6.32MWorld Rnk 16 / 100
Flag Rnk 994 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $195M in Scrap Vessels, making it the 2nd largest exporter of Scrap Vessels in the world. At the same year, Scrap Vessels was the 281st most exported product in South Korea. The main destination of Scrap Vessels exports from South Korea are: India ($153M), Turkey ($31.9M), Saint Kitts and Nevis ($5.38M), Pakistan ($4.21M), and Malaysia ($260k).

The fastest growing export markets for Scrap Vessels of South Korea between 2021 and 2022 were Saint Kitts and Nevis ($5.38M), Malaysia ($260k), and Philippines ($22.3k).

Imports In 2022, South Korea imported $6.32M in Scrap Vessels, becoming the 16th largest importer of Scrap Vessels in the world. At the same year, Scrap Vessels was the 994th most imported product in South Korea. South Korea imports Scrap Vessels primarily from: Cayman Islands ($4.48M), Russia ($1.37M), Japan ($356k), Vanuatu ($58k), and Panama ($33.3k).

The fastest growing import markets in Scrap Vessels for South Korea between 2021 and 2022 were Cayman Islands ($4.48M), Russia ($1.27M), and Vanuatu ($22.6k).

COMPANIES In 2023, leading companies such as ZF Friedrichshafen (2) were at the forefront of shipping Scrap Vessels from South Korea to the United States.

Latest Trends

August 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - August 2024)$20k(N/A%)
IMPORT GROWTH (July 2023 - August 2024)$-1k(-100%)
MAIN DESTINATION (August 2024)

This section shows Scrap Vessels'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 Vessels over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$195M
IMPORTS (2022)$6.32M
NET TRADE (2022)$189M

In 2022, South Korea exported $195M in Scrap Vessels. The main destinations of South Korea exports on Scrap Vessels were India ($153M), Turkey ($31.9M), Saint Kitts and Nevis ($5.38M), Pakistan ($4.21M), and Malaysia ($260k).

In 2022, South Korea imported $6.32M in Scrap Vessels, mainly from Cayman Islands ($4.48M), Russia ($1.37M), Japan ($356k), Vanuatu ($58k), and Panama ($33.3k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Scrap Vessels EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Malaysia$260k (1%)
Philippines$22.3k (110%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Vessels BY South Korea WERE (2021 - 2022):
India-$24.9M (-14%)
Turkey-$18M (-36.1%)
Pakistan-$8.78M (-67.6%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Scrap Vessels were:
In 2022, South Korea's main importing competitors in Scrap Vessels were:

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Trade Value of Scrap Vessels by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALPakistan+ $1.78M
TOP IMPORT POTENTIALJapan+ $197k

Scrap Vessels’s highest export potential is Pakistan. With an export gap of $1.78M.   Scrap Vessels’s highest import potential is Japan with an import gap of $197k.

See methodology.

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