Silver in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $1.69B in Silver, making it the 6th largest exporter of Silver in the world. At the same year, Silver was the 61st most exported product in South Korea. The main destination of Silver exports from South Korea are: Japan ($822M), United States ($261M), Australia ($130M), Canada ($117M), and Hong Kong ($111M).

The fastest growing export markets for Silver of South Korea between 2021 and 2022 were Australia ($112M), India ($40M), and United States ($37.4M).

Imports In 2022, South Korea imported $133M in Silver, becoming the 22nd largest importer of Silver in the world. At the same year, Silver was the 450th most imported product in South Korea. South Korea imports Silver primarily from: Japan ($62.9M), United States ($52.3M), France ($4.14M), Germany ($3.76M), and Chinese Taipei ($1.87M).

The fastest growing import markets in Silver for South Korea between 2021 and 2022 were Indonesia ($77k), Czechia ($9.77k), and New Zealand ($9.46k).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Silver exports accounted up to $164M and imports accounted up to $10.5M, resulting in a positive trade balance of $153M. Between July 2023 and July 2024 the exports of South Korea's Silver have increased by $42.7M (35.2%) from $121M to $164M, while imports decreased by $-2.97M (-22%) from $13.5M to $10.5M.

Destinations In July 2024, Silver were exported mostly to Japan ($51.1M), Hong Kong ($38.7M), United States ($36.6M), Australia ($19M), and Thailand ($5.58M), and were imported mostly from Japan ($4.54M), United States ($3.04M), Chinese Taipei ($1.07M), Germany ($565k), and China ($427k).

Growth In July 2024, the increase in Silver's year-by-year exports was explained primarily by an increase in exports to Australia ($15M or 4.36k%), Canada ($13.5M or 673k%), and Hong Kong ($6.62M or 474%). In July 2024, the decrease in Silver's year-by-year imports was explained primarily by a decrease in imports from United States ($-3.43M or -56.2%), Bulgaria ($-294k or -100%), and China ($-266k or -78.2%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (July 2023 - July 2024)$42.7M(35.2%)

IMPORT GROWTH (July 2023 - July 2024)$-2.97M(-22%)

MAIN DESTINATION (July 2024)Japan$51.1M

This section shows Silver'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 Silver over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$1.69B

IMPORTS (2022)$133M

NET TRADE (2022)$1.55B

In 2022, South Korea exported $1.69B in Silver. The main destinations of South Korea exports on Silver were Japan ($822M), United States ($261M), Australia ($130M), Canada ($117M), and Hong Kong ($111M).

In 2022, South Korea imported $133M in Silver, mainly from Japan ($62.9M), United States ($52.3M), France ($4.14M), Germany ($3.76M), and Chinese Taipei ($1.87M).

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