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2022
Exports $5.82BWorld Rnk 17 / 223
Flag Rnk 17 / 96
2022
Destination $475M China
2021 - 2022
FASTEST GROWING MARKET $475MUnited States
2022
PRODUCT COMPLEXITY IN Aluminum articles1.01Rnk 168 / 1025
2022
Imports $9.23BWorld Rnk 9 / 226
Flag Rnk 12 / 96
2022
Origin $530M China
2021 - 2022
FASTEST GROWING ORIGIN $530MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $5.82B in Aluminum articles, making it the 17th largest exporter of Aluminum articles in the world. At the same year, Aluminum articles was the 17th most exported product in South Korea. The main destination of Aluminum articles exports from South Korea are: China ($1.36B), United States ($1.01B), Vietnam ($614M), Japan ($368M), and Turkey ($252M).

The fastest growing export markets for Aluminum articles of South Korea between 2021 and 2022 were United States ($475M), China ($182M), and Turkey ($121M).

Imports In 2022, South Korea imported $9.23B in Aluminum articles, becoming the 9th largest importer of Aluminum articles in the world. At the same year, Aluminum articles was the 12th most imported product in South Korea. South Korea imports Aluminum articles primarily from: China ($2.16B), India ($1.36B), Australia ($903M), United States ($808M), and Malaysia ($482M).

The fastest growing import markets in Aluminum articles for South Korea between 2021 and 2022 were China ($530M), Australia ($250M), and United States ($152M).

COMPANIES In 2023, leading companies such as LG Electronics (31), Samsung (13), and Hankook Tires (11) were at the forefront of shipping Aluminum articles from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Aluminum articles exports accounted up to $413M and imports accounted up to $757M, resulting in a negative trade balance of $343M. Between October 2023 and October 2024 the exports of South Korea's   Aluminum articles have increased by $41.8M (11.3%) from $371M to $413M, while imports increased by $114M (17.8%) from $642M to $757M.

Destinations In October 2024, Aluminum articles were exported mostly to United States ($96.5M), China ($86.6M), Vietnam ($49.2M), Japan ($31.2M), and Mexico ($24.8M), and were imported mostly from China ($139M), Australia ($104M), Russia ($96.5M), United States ($63.2M), and India ($56.5M).

Growth In October 2024, the increase in Aluminum articles's year-by-year exports was explained primarily by an increase in exports to Hungary ($3.87M or 85.2%), South Africa ($3.49M or 245%), and Pakistan ($2.79M or 422%). In October 2024, the increase in Aluminum articles's year-by-year imports was explained primarily by an increase in imports from Australia ($19.8M or 27.1%), Qatar ($12.7M or 64.5%), and Saudi Arabia ($8.02M or 86.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$41.8M(11.3%)
IMPORT GROWTH (October 2023 - October 2024)$114M(17.8%)
MAIN DESTINATION (October 2024)United States$96.5M

This section shows Aluminum articles'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 Aluminum articles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$5.82B
IMPORTS (2022)$9.23B
NET TRADE (2022)-$3.41B

In 2022, South Korea exported $5.82B in Aluminum articles. The main destinations of South Korea exports on Aluminum articles were China ($1.36B), United States ($1.01B), Vietnam ($614M), Japan ($368M), and Turkey ($252M).

In 2022, South Korea imported $9.23B in Aluminum articles, mainly from China ($2.16B), India ($1.36B), Australia ($903M), United States ($808M), and Malaysia ($482M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Aluminum articles EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$475M (88.5%)
China$182M (15.5%)
Turkey$121M (91.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Aluminum articles BY South Korea WERE (2021 - 2022):
Chile-$42.5M (-87.5%)
United Arab Emirates-$38.9M (-42.6%)
Chinese Taipei-$34M (-37.3%)
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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 Aluminum articles were:
China $42.5B
Germany $20.8B
United States $14.2B
In 2022, South Korea's main importing competitors in Aluminum articles were:
United States $36.9B
Germany $27.1B
Netherlands $11.2B

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Trade Value of Aluminum articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $105M
TOP IMPORT POTENTIALChina+ $188M

Aluminum articles’s highest export potential is United States. With an export gap of $105M.   Aluminum articles’s highest import potential is China with an import gap of $188M.

See methodology.

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