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2022
Exports $6.73BWorld Rnk 10 / 222
Flag Rnk 16 / 96
2022
Destination $478M China
2021 - 2022
FASTEST GROWING MARKET $478MHungary
2022
PRODUCT COMPLEXITY IN Chemical products n.e.s.1.97Rnk 6 / 1025
2022
Imports $8.3BWorld Rnk 8 / 226
Flag Rnk 14 / 96
2022
Origin $495M China
2021 - 2022
FASTEST GROWING ORIGIN $495MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $6.73B in Chemical products n.e.s., making it the 10th largest exporter of Chemical products n.e.s. in the world. At the same year, Chemical products n.e.s. was the 16th most exported product in South Korea. The main destination of Chemical products n.e.s. exports from South Korea are: China ($1.7B), United States ($976M), Hungary ($786M), Japan ($407M), and Vietnam ($362M).

The fastest growing export markets for Chemical products n.e.s. of South Korea between 2021 and 2022 were Hungary ($478M), United States ($269M), and Chinese Taipei ($48.3M).

Imports In 2022, South Korea imported $8.3B in Chemical products n.e.s., becoming the 8th largest importer of Chemical products n.e.s. in the world. At the same year, Chemical products n.e.s. was the 14th most imported product in South Korea. South Korea imports Chemical products n.e.s. primarily from: China ($2.46B), Japan ($1.89B), United States ($1.35B), Singapore ($746M), and Germany ($380M).

The fastest growing import markets in Chemical products n.e.s. for South Korea between 2021 and 2022 were China ($495M), Belgium ($37.6M), and Singapore ($30.2M).

COMPANIES In 2023, leading companies such as Samsung (80), Hyosung (70), and Ford Motor Company (43) were at the forefront of shipping Chemical products n.e.s. from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Chemical products n.e.s. exports accounted up to $584M and imports accounted up to $802M, resulting in a negative trade balance of $218M. Between October 2023 and October 2024 the exports of South Korea's   Chemical products n.e.s. have increased by $54.5M (10.3%) from $529M to $584M, while imports increased by $70.2M (9.59%) from $732M to $802M.

Destinations In October 2024, Chemical products n.e.s. were exported mostly to China ($232M), United States ($70.9M), Vietnam ($33.9M), Japan ($27M), and Chinese Taipei ($21.6M), and were imported mostly from China ($203M), Japan ($170M), United States ($120M), Singapore ($67.3M), and Germany ($39.6M).

Growth In October 2024, the increase in Chemical products n.e.s.'s year-by-year exports was explained primarily by an increase in exports to Singapore ($3.15M or 25.8%), Poland ($2.19M or 54.2%), and Iran ($695k or 269%). In October 2024, the increase in Chemical products n.e.s.'s year-by-year imports was explained primarily by an increase in imports from Japan ($19M or 12.7%), Belgium ($15.3M or 499%), and Italy ($5.52M or 91.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$54.5M(10.3%)
IMPORT GROWTH (October 2023 - October 2024)$70.2M(9.59%)
MAIN DESTINATION (October 2024)China$232M

This section shows Chemical products n.e.s.'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 Chemical products n.e.s. over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$6.73B
IMPORTS (2022)$8.3B
NET TRADE (2022)-$1.57B

In 2022, South Korea exported $6.73B in Chemical products n.e.s.. The main destinations of South Korea exports on Chemical products n.e.s. were China ($1.7B), United States ($976M), Hungary ($786M), Japan ($407M), and Vietnam ($362M).

In 2022, South Korea imported $8.3B in Chemical products n.e.s., mainly from China ($2.46B), Japan ($1.89B), United States ($1.35B), Singapore ($746M), and Germany ($380M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Chemical products n.e.s. EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Hungary$478M (155%)
United States$269M (38.1%)
Chinese Taipei$48.3M (19%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Chemical products n.e.s. BY South Korea WERE (2021 - 2022):
Vietnam-$328M (-47.5%)
Germany-$210M (-82.9%)
Italy-$205M (-78%)
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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 Chemical products n.e.s. were:
China $42.1B
United States $30.3B
Germany $26.5B
In 2022, South Korea's main importing competitors in Chemical products n.e.s. were:
United States $17.8B
Germany $17.8B
Netherlands $16.9B

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Trade Value of Chemical products n.e.s. by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $257M
TOP IMPORT POTENTIALChina+ $319M

Chemical products n.e.s.’s highest export potential is China. With an export gap of $257M.   Chemical products n.e.s.’s highest import potential is China with an import gap of $319M.

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