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2022
Exports $47.3MWorld Rnk 18 / 175
Flag Rnk 497 / 1204
2022
Destination $857k United States
2021 - 2022
FASTEST GROWING MARKET $857kUnited States
2022
PRODUCT COMPLEXITY IN Used Rubber Tires0.67Rnk 290 / 1025
2022
Imports $17.4MWorld Rnk 33 / 219
Flag Rnk 851 / 1213
2022
Origin $1.92M China
2021 - 2022
FASTEST GROWING ORIGIN $1.92MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $47.3M in Used Rubber Tires, making it the 18th largest exporter of Used Rubber Tires in the world. At the same year, Used Rubber Tires was the 497th most exported product in South Korea. The main destination of Used Rubber Tires exports from South Korea are: United States ($12M), Guatemala ($3.62M), Honduras ($2.75M), El Salvador ($2.47M), and Thailand ($2.14M).

The fastest growing export markets for Used Rubber Tires of South Korea between 2021 and 2022 were United States ($857k), Hong Kong ($545k), and Guatemala ($483k).

Imports In 2022, South Korea imported $17.4M in Used Rubber Tires, becoming the 33rd largest importer of Used Rubber Tires in the world. At the same year, Used Rubber Tires was the 851st most imported product in South Korea. South Korea imports Used Rubber Tires primarily from: China ($5.18M), Sri Lanka ($2.9M), Japan ($2.71M), Indonesia ($1.93M), and Vietnam ($1.18M).

The fastest growing import markets in Used Rubber Tires for South Korea between 2021 and 2022 were China ($1.92M), Indonesia ($1.91M), and Sri Lanka ($697k).

COMPANIES In 2023, leading companies such as Hankook Tires (1.72k), Goodyear Tire and Rubber (175), and Samsung (54) were at the forefront of shipping Used Rubber Tires from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Used Rubber Tires exports accounted up to $4.12M and imports accounted up to $1.6M, resulting in a positive trade balance of $2.53M. Between July 2023 and July 2024 the exports of South Korea's   Used Rubber Tires have increased by $151k (3.8%) from $3.97M to $4.12M, while imports decreased by $-342k (-17.6%) from $1.94M to $1.6M.

Destinations In July 2024, Used Rubber Tires were exported mostly to United States ($1.04M), Thailand ($420k), United Arab Emirates ($173k), Germany ($120k), and Spain ($120k), and were imported mostly from Thailand ($430k), Sri Lanka ($396k), China ($304k), Japan ($233k), and Vietnam ($212k).

Growth In July 2024, the increase in Used Rubber Tires's year-by-year exports was explained primarily by an increase in exports to Thailand ($114k or 69.9%), Guatemala ($79k or 61.7%), and China ($61k or 1.02k%). In July 2024, the decrease in Used Rubber Tires's year-by-year imports was explained primarily by a decrease in imports from Sri Lanka ($-78k or -23.4%), Malaysia ($-10k or -100%), and Spain ($-2k or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$151k(3.8%)
IMPORT GROWTH (July 2023 - July 2024)$-342k(-17.6%)
MAIN DESTINATION (July 2024)United States$1.04M

This section shows Used Rubber Tires'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 Used Rubber Tires over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$47.3M
IMPORTS (2022)$17.4M
NET TRADE (2022)$29.9M

In 2022, South Korea exported $47.3M in Used Rubber Tires. The main destinations of South Korea exports on Used Rubber Tires were United States ($12M), Guatemala ($3.62M), Honduras ($2.75M), El Salvador ($2.47M), and Thailand ($2.14M).

In 2022, South Korea imported $17.4M in Used Rubber Tires, mainly from China ($5.18M), Sri Lanka ($2.9M), Japan ($2.71M), Indonesia ($1.93M), and Vietnam ($1.18M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Used Rubber Tires EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$857k (7.72%)
Hong Kong$545k (3.46k%)
Guatemala$483k (15.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Used Rubber Tires BY South Korea WERE (2021 - 2022):
Japan-$886k (-37.9%)
New Zealand-$483k (-35.3%)
China-$427k (-34.9%)
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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 Used Rubber Tires were:
Sri Lanka $455M
Germany $342M
China $196M
In 2022, South Korea's main importing competitors in Used Rubber Tires were:
United States $459M
Germany $232M
France $190M

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Trade Value of Used Rubber Tires by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $1.71M
TOP IMPORT POTENTIALChina+ $1.92M

Used Rubber Tires’s highest export potential is United States. With an export gap of $1.71M.   Used Rubber Tires’s highest import potential is China with an import gap of $1.92M.

See methodology.

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