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Pricing

2022
Exports $289MWorld Rnk 14 / 145
Flag Rnk 223 / 1204
2022
Destination $6.72M Japan
2021 - 2022
FASTEST GROWING MARKET $6.72MBelgium
2022
PRODUCT COMPLEXITY IN Carboxylic Acids0.82Rnk 239 / 1025
2022
Imports $375MWorld Rnk 12 / 203
Flag Rnk 232 / 1213
2022
Origin $43.3M China
2021 - 2022
FASTEST GROWING ORIGIN $43.3MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $289M in Carboxylic Acids, making it the 14th largest exporter of Carboxylic Acids in the world. At the same year, Carboxylic Acids was the 223rd most exported product in South Korea. The main destination of Carboxylic Acids exports from South Korea are: Japan ($52.4M), United States ($47.2M), China ($38.5M), Belgium ($25.5M), and Singapore ($11.9M).

The fastest growing export markets for Carboxylic Acids of South Korea between 2021 and 2022 were Belgium ($6.72M), United States ($6.44M), and Italy ($3.65M).

Imports In 2022, South Korea imported $375M in Carboxylic Acids, becoming the 12th largest importer of Carboxylic Acids in the world. At the same year, Carboxylic Acids was the 232nd most imported product in South Korea. South Korea imports Carboxylic Acids primarily from: China ($192M), Japan ($89M), Netherlands ($29.4M), United States ($12.2M), and Germany ($8.54M).

The fastest growing import markets in Carboxylic Acids for South Korea between 2021 and 2022 were China ($43.3M), Netherlands ($8.91M), and Singapore ($1.72M).

COMPANIES In 2023, leading companies such as LG Electronics (22) and Tesla (2) were at the forefront of shipping Carboxylic Acids from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Carboxylic Acids exports accounted up to $22.6M and imports accounted up to $33.2M, resulting in a negative trade balance of $10.5M. Between July 2023 and July 2024 the exports of South Korea's   Carboxylic Acids have increased by $2.52M (12.5%) from $20.1M to $22.6M, while imports increased by $6.81M (25.8%) from $26.4M to $33.2M.

Destinations In July 2024, Carboxylic Acids were exported mostly to United States ($5.5M), China ($3.91M), Japan ($2.97M), Belgium ($1.91M), and Singapore ($1.21M), and were imported mostly from China ($14.1M), Japan ($9.63M), Germany ($1.63M), Switzerland ($1.42M), and Netherlands ($1.41M).

Growth In July 2024, the increase in Carboxylic Acids's year-by-year exports was explained primarily by an increase in exports to Russia ($898k or 691%), France ($522k or 221%), and Japan ($521k or 17.9%). In July 2024, the increase in Carboxylic Acids's year-by-year imports was explained primarily by an increase in imports from Netherlands ($721k or 33.2%), United States ($654k or 64.1%), and Singapore ($464k or 478%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$2.52M(12.5%)
IMPORT GROWTH (July 2023 - July 2024)$6.81M(25.8%)
MAIN DESTINATION (July 2024)United States$5.5M

This section shows Carboxylic Acids'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 Carboxylic Acids over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$289M
IMPORTS (2022)$375M
NET TRADE (2022)-$85.8M

In 2022, South Korea exported $289M in Carboxylic Acids. The main destinations of South Korea exports on Carboxylic Acids were Japan ($52.4M), United States ($47.2M), China ($38.5M), Belgium ($25.5M), and Singapore ($11.9M).

In 2022, South Korea imported $375M in Carboxylic Acids, mainly from China ($192M), Japan ($89M), Netherlands ($29.4M), United States ($12.2M), and Germany ($8.54M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Carboxylic Acids EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Belgium$6.72M (35.8%)
United States$6.44M (15.8%)
Italy$3.65M (109%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Carboxylic Acids BY South Korea WERE (2021 - 2022):
Germany-$8.61M (-54.4%)
India-$5.55M (-48%)
Japan-$4.38M (-7.72%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Carboxylic Acids were:
China $5.45B
India $776M
Germany $731M
In 2022, South Korea's main importing competitors in Carboxylic Acids were:
United States $1.67B
Germany $898M
India $642M

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Trade Value of Carboxylic Acids by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $8.95M
TOP IMPORT POTENTIALChina+ $38.9M

Carboxylic Acids’s highest export potential is China. With an export gap of $8.95M.   Carboxylic Acids’s highest import potential is China with an import gap of $38.9M.

See methodology.

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