Borates in South Korea | The Observatory of Economic Complexity

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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).

COMPANIES In 2023, leading companies such as were at the forefront of shipping Borates from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Borates exports accounted up to $29k and imports accounted up to $812k, resulting in a negative trade balance of $783k. Between February 2023 and February 2024 the exports of South Korea's Borates have increased by $23k (383%) from $6k to $29k, while imports decreased by $-1.23M (-60.3%) from $2.04M to $812k.

Destinations In February 2024, Borates were exported mostly to Japan ($29k), China ($0), Indonesia ($0), India ($0), and Malaysia ($0), and were imported mostly from United States ($541k), China ($144k), Turkey ($111k), Australia ($12k), and Germany ($3k).

Growth In February 2024, the increase in Borates's year-by-year exports was explained primarily by an increase in exports to Indonesia ($1k or 100%). In February 2024, the decrease in Borates's year-by-year imports was explained primarily by a decrease in imports from Turkey ($-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 (February 2023 - February 2024)$23k(383%)

IMPORT GROWTH (February 2023 - February 2024)$-1.23M(-60.3%)

MAIN DESTINATION (February 2024)Japan$29k

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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