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2023
Exports $3.94BWorld Rnk 19 / 222
Flag Rnk 18 / 96
2023
Destination $50.3M China
2022 - 2023
FASTEST GROWING MARKET $50.3MHungary
2023
PRODUCT COMPLEXITY IN Aluminum articles0.9Rnk 203 / 1025
2023
Imports $7.03BWorld Rnk 9 / 226
Flag Rnk 13 / 96
2023
Origin $465M China
2022 - 2023
FASTEST GROWING ORIGIN $465MAustralia
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $3.94B in Aluminum articles, making it the 19th largest exporter of Aluminum articles in the world. At the same year, Aluminum articles was the 18th most exported product in South Korea. The main destination of Aluminum articles exports from South Korea are: China ($1.07B), United States ($642M), Japan ($279M), India ($187M), and Turkey ($160M).

The fastest growing export markets for Aluminum articles of South Korea between 2022 and 2023 were Hungary ($50.3M), Tanzania ($28.9M), and Nigeria ($17.4M).

Imports In 2023, South Korea imported $7.03B in Aluminum articles, becoming the 9th largest importer of Aluminum articles in the world. At the same year, Aluminum articles was the 13th most imported product in South Korea. South Korea imports Aluminum articles primarily from: China ($1.84B), Australia ($1.25B), India ($828M), United States ($750M), and Malaysia ($323M).

The fastest growing import markets in Aluminum articles for South Korea between 2022 and 2023 were Australia ($465M), Nigeria ($19.7M), and Lebanon ($19.7M).

COMPANIES In 2024, leading companies such as ZF Friedrichshafen (13), GE RENEWABLES NORTH AMERICA LLC (4), and Samsung (3) were at the forefront of shipping Aluminum articles from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Aluminum articles exports accounted up to $478M and imports accounted up to $734M, resulting in a negative trade balance of $256M. Between December 2023 and December 2024 the exports of South Korea's   Aluminum articles have increased by $121M (33.9%) from $357M to $478M, while imports increased by $103M (16.4%) from $630M to $734M.

Destinations In December 2024, Aluminum articles were exported mostly to United States ($99M), China ($85.7M), Vietnam ($57.9M), India ($29.9M), and Japan ($29.1M), and were imported mostly from China ($168M), Russia ($83.3M), Australia ($78.9M), India ($60.8M), and United States ($51.4M).

Growth In December 2024, the increase in Aluminum articles's year-by-year exports was explained primarily by an increase in exports to China ($35.9M or 48%), United States ($15.2M or 30.6%), and Mexico ($11.1M or 58.1%). In December 2024, the increase in Aluminum articles's year-by-year imports was explained primarily by an increase in imports from Australia ($15.1M or 16.3%), Russia ($12.1M or 23.2%), and Mexico ($7.23M or 654%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$121M(33.9%)
IMPORT GROWTH (December 2023 - December 2024)$103M(16.4%)
MAIN DESTINATION (December 2024)United States$99M

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 (2023)$3.94B
IMPORTS (2023)$7.03B
NET TRADE (2023)-$3.09B

In 2023, South Korea exported $3.94B in Aluminum articles. The main destinations of South Korea exports on Aluminum articles were China ($1.07B), United States ($642M), Japan ($279M), India ($187M), and Turkey ($160M).

In 2023, South Korea imported $7.03B in Aluminum articles, mainly from China ($1.84B), Australia ($1.25B), India ($828M), United States ($750M), and Malaysia ($323M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Aluminum articles EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Hungary$50.3M (62.7%)
Tanzania$28.9M (706%)
Nigeria$17.4M (35.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Aluminum articles BY South Korea WERE (2022 - 2023):
Vietnam-$610M (-100%)
China-$385M (-26.4%)
United States-$381M (-37.3%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Aluminum articles were:
China $33.3B
Germany $17.7B
United States $13.1B
In 2023, South Korea's main importing competitors in Aluminum articles were:
United States $28.6B
Germany $21.3B
China $11.3B

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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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