Borates in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $323k in Borates, making it the 38th largest exporter of Borates in the world. At the same year, Borates was the 1065th most exported product in South Korea. The main destination of Borates exports from South Korea are: Japan ($78.8k), Malaysia ($58.1k), Slovenia ($51.3k), Mauritius ($22.3k), and Philippines ($20.1k).

The fastest growing export markets for Borates of South Korea between 2021 and 2022 were Slovenia ($51.3k), Malaysia ($34.9k), and Mauritius ($22.3k).

Imports In 2022, South Korea imported $19M in Borates, becoming the 14th largest importer of Borates in the world. At the same year, Borates was the 834th most imported product in South Korea. South Korea imports Borates primarily from: Turkey ($8.9M), United States ($6.16M), China ($2.84M), Italy ($261k), and Poland ($254k).

The fastest growing import markets in Borates for South Korea between 2021 and 2022 were Turkey ($2.44M), Poland ($254k), and Germany ($39.8k).

Latest Trends

November 2024

About

Overview In November 2024 South Korea's Borates exports accounted up to $3k and imports accounted up to $2.53M, resulting in a negative trade balance of $2.52M. Between November 2023 and November 2024 the exports of South Korea's Borates have decreased by $-43k (-93.5%) from $46k to $3k, while imports decreased by $-75k (-2.88%) from $2.6M to $2.53M.

Destinations In November 2024, Borates were exported mostly to Russia ($2k), Vietnam ($1k), China ($0), Indonesia ($0), and India ($0), and were imported mostly from Turkey ($1.8M), United States ($445k), China ($189k), Italy ($40k), and Canada ($29k).

Growth In November 2024, the decrease in Borates's year-by-year exports was explained primarily by a decrease in exports to China ($-7k or -100%). In November 2024, the decrease in Borates's year-by-year imports was explained primarily by a decrease in imports from Turkey ($-161k or -19.1%), China ($-131k or -40.3%), and United States ($-36k or -27.7%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (November 2023 - November 2024)$-43k(-93.5%)

IMPORT GROWTH (November 2023 - November 2024)$-75k(-2.88%)

MAIN DESTINATION (November 2024)Russia$2k

This section shows Borates'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 Borates over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$323k

IMPORTS (2022)$19M

NET TRADE (2022)-$18.6M

In 2022, South Korea exported $323k in Borates. The main destinations of South Korea exports on Borates were Japan ($78.8k), Malaysia ($58.1k), Slovenia ($51.3k), Mauritius ($22.3k), and Philippines ($20.1k).

In 2022, South Korea imported $19M in Borates, mainly from Turkey ($8.9M), United States ($6.16M), China ($2.84M), Italy ($261k), and Poland ($254k).

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