Rubber & articles thereof in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $8.04B in Rubber & articles thereof, making it the 7th largest exporter of Rubber & articles thereof in the world. At the same year, Rubber & articles thereof was the 14th most exported product in South Korea. The main destination of Rubber & articles thereof exports from South Korea are: United States ($1.77B), China ($837M), Malaysia ($395M), Vietnam ($357M), and India ($354M).

The fastest growing export markets for Rubber & articles thereof of South Korea between 2021 and 2022 were United States ($315M), Italy ($42.3M), and Netherlands ($31.8M).

Imports In 2022, South Korea imported $3.09B in Rubber & articles thereof, becoming the 20th largest importer of Rubber & articles thereof in the world. At the same year, Rubber & articles thereof was the 27th most imported product in South Korea. South Korea imports Rubber & articles thereof primarily from: Thailand ($727M), China ($660M), Japan ($235M), United States ($193M), and Indonesia ($191M).

The fastest growing import markets in Rubber & articles thereof for South Korea between 2021 and 2022 were Thailand ($169M), China ($35.7M), and Singapore ($19M).

COMPANIES In 2023, leading companies such as HANKOOK TIRE AMERICA CORP. (13.7k), GOODYEAR TIRE & RUBBER CO. (10.7k), and LG ELECTRONICS U.S.A. INC. (9.61k) were at the forefront of shipping Rubber & articles thereof from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Rubber & articles thereof exports accounted up to $601M and imports accounted up to $212M, resulting in a positive trade balance of $389M. Between February 2023 and February 2024 the exports of South Korea's Rubber & articles thereof have decreased by $-47.7M (-7.35%) from $649M to $601M, while imports decreased by $-23M (-9.77%) from $235M to $212M.

Destinations In February 2024, Rubber & articles thereof were exported mostly to United States ($106M), China ($59.1M), Vietnam ($30.8M), India ($30.4M), and Malaysia ($29.6M), and were imported mostly from China ($49.9M), Thailand ($49.5M), United States ($17.2M), Japan ($14.4M), and Vietnam ($11M).

Growth In February 2024, the decrease in Rubber & articles thereof's year-by-year exports was explained primarily by a decrease in exports to China ($-26.9M or -31.9%), Malaysia ($-16.4M or -38%), and Vietnam ($-15.8M or -47%). In February 2024, the decrease in Rubber & articles thereof's year-by-year imports was explained primarily by a decrease in imports from Vietnam ($-4.79M or -26.3%), Malaysia ($-2.52M or -22.7%), and Spain ($-1.53M or -71%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-47.7M(-7.35%)

IMPORT GROWTH (February 2023 - February 2024)$-23M(-9.77%)

MAIN DESTINATION (February 2024)United States$106M

This section shows Rubber & articles thereof'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 Rubber & articles thereof over time.

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