Styrene Polymers in South Korea 2021 Exports | Imports : $4.65B | $183M, World Rnk 1 / 153 Rnk 25 / 1206 | World Rnk 31 / 208 Rnk 373 / 1211
2020 - 2021 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $227M | $22.1M, China | Thailand
2021 ECONOMIC COMPLEXITY of South Korea: 1.82, Rnk 4 / 131
2021 PRODUCT COMPLEXITY IN Styrene Polymers: 0.7, Rnk 276 / 1029
Exports In 2021, South Korea exported $4.65B in Styrene Polymers, making it the 1st largest exporter of Styrene Polymers in the world. At the same year, Styrene Polymers was the 25th most exported product in South Korea. The main destination of Styrene Polymers exports from South Korea are: China ($1.4B), United States ($359M), Mexico ($278M), Vietnam ($266M), and Turkey ($244M).
The fastest growing export markets for Styrene Polymers of South Korea between 2020 and 2021 were China ($227M), United States ($167M), and Mexico ($108M).
Imports In 2021, South Korea imported $183M in Styrene Polymers, becoming the 31st largest importer of Styrene Polymers in the world. At the same year, Styrene Polymers was the 373rd most imported product in South Korea. South Korea imports Styrene Polymers primarily from: China ($71.5M), Thailand ($23.2M), Singapore ($22.7M), United States ($21.6M), and Japan ($18.6M).
The fastest growing import markets in Styrene Polymers for South Korea between 2020 and 2021 were Thailand ($22.1M), China ($12.2M), and Singapore ($7.04M).
Tariffs In 2018, the average tariff for South Korea in Styrene Polymers was 4.08%. The countries with the highest import tariffs for Styrene Polymers were Botswana (Most Favoured Nation duty rate treatment, 6.5%), Cote d'Ivoire (Most Favoured Nation duty rate treatment, 6.5%), Cameroon (Most Favoured Nation duty rate treatment, 6.5%), Republic of the Congo (Most Favoured Nation duty rate treatment, 6.5%), and Cape Verde (Most Favoured Nation duty rate treatment, 6.5%).
Overview In February 2023 South Korea's Styrene Polymers exports accounted up to $279M and imports accounted up to $16.2M, resulting in a positive trade balance of $263M. Between February 2022 and February 2023 the exports of South Korea's Styrene Polymers have decreased by $-84M (-23.1%) from $363M to $279M, while imports decreased by $-1.9M (-10.5%) from $18.1M to $16.2M.
Destinations In February 2023, Styrene Polymers were exported mostly to China ($61.7M), Turkey ($25.4M), United States ($23.6M), India ($21.4M), and Vietnam ($16.5M), and were imported mostly from China ($7M), United States ($2.42M), Japan ($1.99M), Singapore ($1.97M), and Germany ($839k).
Growth In February 2023, the decrease in Styrene Polymers's year-by-year exports was explained primarily by a decrease in exports to Hong Kong ($-9.55M or -41.7%), China ($-4.49M or -4.37%), and Turkey ($-1.47M or -7.35%). In February 2023, the decrease in Styrene Polymers's year-by-year imports was explained primarily by a decrease in imports from Mexico ($-348k or -60.3%), Spain ($-186k or -100%), and Chinese Taipei ($-175k or -26.2%).
EXPORT GROWTH (February 2022 - February 2023): $-84M, (-23.1%)
IMPORT GROWTH (February 2022 - February 2023): $-1.9M, (-10.5%)
MAIN DESTINATION (February 2023): China, $61.7M
This section shows Styrene Polymers'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 Styrene Polymers over time.
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EXPORTS (2021): $4.65B
IMPORTS (2021): $183M
NET TRADE (2021): $4.46B
In 2021, South Korea exported $4.65B in Styrene Polymers. The main destinations of South Korea exports on Styrene Polymers were China ($1.4B), United States ($359M), Mexico ($278M), Vietnam ($266M), and Turkey ($244M).
In 2021, South Korea imported $183M in Styrene Polymers, mainly from China ($71.5M), Thailand ($23.2M), Singapore ($22.7M), United States ($21.6M), and Japan ($18.6M).
THE FASTEST GROWING Styrene Polymers EXPORT MARKETS FOR South Korea WERE (2020 - 2021):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Styrene Polymers BY South Korea WERE (2020 - 2021):
In 2021, South Korea's main exporting competitors in Styrene Polymers were:
In 2021, South Korea's main importing competitors in Styrene Polymers were:
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