Borates in South Korea | The Observatory of Economic Complexity

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Exports In 2023, South Korea exported $231k in Borates, making it the 42nd largest exporter of Borates in the world. At the same year, Borates was the 1047th most exported product in South Korea. The main destination of Borates exports from South Korea are: Malaysia ($139k), Zimbabwe ($48.3k), Philippines ($21.9k), Fiji ($17k), and China ($2.61k).

The fastest growing export markets for Borates of South Korea between 2022 and 2023 were Malaysia ($58.3k), Zimbabwe ($48.3k), and Thailand ($1.24k).

Imports In 2023, South Korea imported $13.1M in Borates, becoming the 23rd largest importer of Borates in the world. At the same year, Borates was the 858th most imported product in South Korea. South Korea imports Borates primarily from: United States ($9.14M), China ($2.45M), Malaysia ($1.22M), Canada ($97.8k), and Australia ($80.3k).

The fastest growing import markets in Borates for South Korea between 2022 and 2023 were United States ($3.55M) and Malaysia ($1.22M).

Latest Trends

December 2024

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Overview In December 2024 South Korea's Borates exports accounted up to $14k and imports accounted up to $2.14M, resulting in a negative trade balance of $2.12M. Between December 2023 and December 2024 the exports of South Korea's Borates have increased by $10k (250%) from $4k to $14k, while imports increased by $722k (51.1%) from $1.41M to $2.14M.

Destinations In December 2024, Borates were exported mostly to Russia ($7k), Uzbekistan ($6k), Indonesia ($1k), China ($0), and India ($0), and were imported mostly from Turkey ($1.42M), United States ($422k), China ($258k), France ($17k), and Australia ($11k).

Growth In December 2024, the increase in Borates's year-by-year exports was explained primarily by an increase in exports to . In December 2024, the increase in Borates's year-by-year imports was explained primarily by an increase in imports from United States ($849k or 903%), China ($163k or 84%), and Australia ($8k or 200%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2023 - December 2024)$10k(250%)

IMPORT GROWTH (December 2023 - December 2024)$722k(51.1%)

MAIN DESTINATION (December 2024)Russia$7k

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 (2023)$231k

IMPORTS (2023)$13.1M

NET TRADE (2023)-$12.9M

In 2023, South Korea exported $231k in Borates. The main destinations of South Korea exports on Borates were Malaysia ($139k), Zimbabwe ($48.3k), Philippines ($21.9k), Fiji ($17k), and China ($2.61k).

In 2023, South Korea imported $13.1M in Borates, mainly from United States ($9.14M), China ($2.45M), Malaysia ($1.22M), Canada ($97.8k), and Australia ($80.3k).

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