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2022
Exports $230MWorld Rnk 5 / 183
Flag Rnk 255 / 1204
2022
Destination $1.98M United States
2021 - 2022
FASTEST GROWING MARKET $1.98MPhilippines
2022
PRODUCT COMPLEXITY IN Abrasive Powder1.09Rnk 137 / 1025
2022
Imports $61.1MWorld Rnk 24 / 224
Flag Rnk 627 / 1213
2022
Origin $986k China
2021 - 2022
FASTEST GROWING ORIGIN $986kThailand
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $230M in Abrasive Powder, making it the 5th largest exporter of Abrasive Powder in the world. At the same year, Abrasive Powder was the 255th most exported product in South Korea. The main destination of Abrasive Powder exports from South Korea are: United States ($42.5M), China ($31.5M), India ($13.8M), Italy ($13.7M), and Poland ($12.7M).

The fastest growing export markets for Abrasive Powder of South Korea between 2021 and 2022 were Philippines ($1.98M), Finland ($1.89M), and Brazil ($1.41M).

Imports In 2022, South Korea imported $61.1M in Abrasive Powder, becoming the 24th largest importer of Abrasive Powder in the world. At the same year, Abrasive Powder was the 627th most imported product in South Korea. South Korea imports Abrasive Powder primarily from: China ($24.4M), United States ($12.5M), Thailand ($8.12M), Japan ($7.77M), and United Kingdom ($1.4M).

The fastest growing import markets in Abrasive Powder for South Korea between 2021 and 2022 were Thailand ($986k), Canada ($256k), and United Kingdom ($256k).

COMPANIES In 2023, leading companies such as Jo-Ann Stores (62) were at the forefront of shipping Abrasive Powder from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Abrasive Powder exports accounted up to $20.9M and imports accounted up to $4.35M, resulting in a positive trade balance of $16.6M. Between July 2023 and July 2024 the exports of South Korea's   Abrasive Powder have increased by $895k (4.47%) from $20M to $20.9M, while imports decreased by $-1.38M (-24.1%) from $5.73M to $4.35M.

Destinations In July 2024, Abrasive Powder were exported mostly to United States ($3.31M), China ($3.1M), Italy ($2.4M), Russia ($1.48M), and Poland ($1.4M), and were imported mostly from China ($1.56M), United States ($1.01M), Thailand ($642k), Japan ($476k), and Vietnam ($98k).

Growth In July 2024, the increase in Abrasive Powder's year-by-year exports was explained primarily by an increase in exports to India ($1.05M or 98%), Turkey ($182k or 77.1%), and South Africa ($120k or 300%). In July 2024, the decrease in Abrasive Powder's year-by-year imports was explained primarily by a decrease in imports from Thailand ($-143k or -17.4%), Canada ($-123k or -89.8%), and Austria ($-118k or -98.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$895k(4.47%)
IMPORT GROWTH (July 2023 - July 2024)$-1.38M(-24.1%)
MAIN DESTINATION (July 2024)United States$3.31M

This section shows Abrasive Powder'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 Abrasive Powder over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$230M
IMPORTS (2022)$61.1M
NET TRADE (2022)$169M

In 2022, South Korea exported $230M in Abrasive Powder. The main destinations of South Korea exports on Abrasive Powder were United States ($42.5M), China ($31.5M), India ($13.8M), Italy ($13.7M), and Poland ($12.7M).

In 2022, South Korea imported $61.1M in Abrasive Powder, mainly from China ($24.4M), United States ($12.5M), Thailand ($8.12M), Japan ($7.77M), and United Kingdom ($1.4M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Abrasive Powder EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Philippines$1.98M (60.6%)
Finland$1.89M (2.84k%)
Brazil$1.41M (39.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Abrasive Powder BY South Korea WERE (2021 - 2022):
United States-$3.97M (-8.55%)
Poland-$3.12M (-19.7%)
Germany-$2.83M (-54%)
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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 Abrasive Powder were:
Germany $883M
China $707M
United States $605M
In 2022, South Korea's main importing competitors in Abrasive Powder were:
United States $604M
Germany $585M
Poland $340M

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Trade Value of Abrasive Powder by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $7.41M
TOP IMPORT POTENTIALChina+ $5.3M

Abrasive Powder’s highest export potential is China. With an export gap of $7.41M.   Abrasive Powder’s highest import potential is China with an import gap of $5.3M.

See methodology.

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