2023
Exports
$8.83MWorld Rnk 22 / 125
Flag Rnk 716 / 1188
2023
PRODUCT COMPLEXITY IN Bitumen and asphalt
-0.77Rnk 776 / 1025
2023
Imports
$1.71MWorld Rnk 56 / 188
Flag Rnk 1085 / 1208
2023
ECONOMIC COMPLEXITY of South Korea
1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $8.83M in Bitumen and asphalt, making it the 22nd largest exporter of Bitumen and asphalt in the world. At the same year, Bitumen and asphalt was the 716th most exported product in South Korea. The main destination of Bitumen and asphalt exports from South Korea are: Philippines ($8.72M), Singapore ($58.1k), Malaysia ($47.6k), Indonesia ($1.89k), and China ($331).

The fastest growing export markets for Bitumen and asphalt of South Korea between 2022 and 2023 were Singapore ($58k), Indonesia ($1.07k), and China ($331).

Imports In 2023, South Korea imported $1.71M in Bitumen and asphalt, becoming the 56th largest importer of Bitumen and asphalt in the world. At the same year, Bitumen and asphalt was the 1085th most imported product in South Korea. South Korea imports Bitumen and asphalt primarily from: Singapore ($1.26M), United States ($237k), India ($214k), Belgium ($131), and South Africa ($1).

The fastest growing import markets in Bitumen and asphalt for South Korea between 2022 and 2023 were Singapore ($1.26M), India ($214k), and United States ($11.7k).

Latest Trends

November 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - November 2024)$3k(N/A%)
IMPORT GROWTH (October 2023 - November 2024)$18k(N/A%)
MAIN DESTINATION (November 2024)

This section shows Bitumen and asphalt'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 Bitumen and asphalt over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$8.83M
IMPORTS (2023)$1.71M
NET TRADE (2023)$7.12M

In 2023, South Korea exported $8.83M in Bitumen and asphalt. The main destinations of South Korea exports on Bitumen and asphalt were Philippines ($8.72M), Singapore ($58.1k), Malaysia ($47.6k), Indonesia ($1.89k), and China ($331).

In 2023, South Korea imported $1.71M in Bitumen and asphalt, mainly from Singapore ($1.26M), United States ($237k), India ($214k), Belgium ($131), and South Africa ($1).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Bitumen and asphalt EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Singapore$58k (72.6k%)
Indonesia$1.07k (130%)
China$331 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Bitumen and asphalt BY South Korea WERE (2022 - 2023):
Vietnam-$3.4M (-100%)
Philippines-$3.24M (-27.1%)
Fiji-$2.03M (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Bitumen and asphalt were:
In 2023, South Korea's main importing competitors in Bitumen and asphalt were:

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Trade Value of Bitumen and asphalt by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $22.1k
TOP IMPORT POTENTIALUnited States+ $67.4k

Bitumen and asphalt’s highest export potential is Japan. With an export gap of $22.1k.   Bitumen and asphalt’s highest import potential is United States with an import gap of $67.4k.

See methodology.

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