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2022
Exports $1.49BWorld Rnk 10 / 129
Flag Rnk 75 / 1204
2022
Destination $118M Netherlands
2021 - 2022
FASTEST GROWING MARKET $118MChina
2022
PRODUCT COMPLEXITY IN Ferroalloys-1.24Rnk 892 / 1025
2022
Imports $2.17BWorld Rnk 6 / 172
Flag Rnk 41 / 1213
2022
Origin $175M China
2021 - 2022
FASTEST GROWING ORIGIN $175MDominican Republic
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $1.49B in Ferroalloys, making it the 10th largest exporter of Ferroalloys in the world. At the same year, Ferroalloys was the 75th most exported product in South Korea. The main destination of Ferroalloys exports from South Korea are: Netherlands ($308M), China ($259M), United States ($200M), India ($184M), and Chinese Taipei ($74.5M).

The fastest growing export markets for Ferroalloys of South Korea between 2021 and 2022 were China ($118M), United States ($111M), and India ($34.6M).

Imports In 2022, South Korea imported $2.17B in Ferroalloys, becoming the 6th largest importer of Ferroalloys in the world. At the same year, Ferroalloys was the 41st most imported product in South Korea. South Korea imports Ferroalloys primarily from: China ($473M), Brazil ($246M), India ($232M), Russia ($177M), and Dominican Republic ($175M).

The fastest growing import markets in Ferroalloys for South Korea between 2021 and 2022 were Dominican Republic ($175M), China ($117M), and Guatemala ($69.9M).

COMPANIES In 2023, leading companies such as LG Electronics (9), General Motors (2), and L'Oreal (1) were at the forefront of shipping Ferroalloys from South Korea to the United States.

Latest Trends

August 2024

About

Overview In August 2024 South Korea's Ferroalloys exports accounted up to $71.2M and imports accounted up to $209M, resulting in a negative trade balance of $138M. Between August 2023 and August 2024 the exports of South Korea's   Ferroalloys have decreased by $-44.5M (-38.4%) from $116M to $71.2M, while imports increased by $78.3M (59.9%) from $131M to $209M.

Destinations In August 2024, Ferroalloys were exported mostly to China ($24.7M), Netherlands ($21.9M), Chinese Taipei ($4.8M), United States ($3.87M), and Italy ($2.4M), and were imported mostly from Indonesia ($53.8M), South Africa ($34.2M), India ($33.8M), China ($20.2M), and Malaysia ($18.4M).

Growth In August 2024, the decrease in Ferroalloys's year-by-year exports was explained primarily by a decrease in exports to United States ($-16.7M or -62.5%), India ($-13M or -72.1%), and Brazil ($-8.05M or -91%). In August 2024, the increase in Ferroalloys's year-by-year imports was explained primarily by an increase in imports from Brazil ($1.54M or 6.43%) and United Kingdom ($377k or 195%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-44.5M(-38.4%)
IMPORT GROWTH (August 2023 - August 2024)$78.3M(59.9%)
MAIN DESTINATION (August 2024)China$24.7M

This section shows Ferroalloys'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 Ferroalloys over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.49B
IMPORTS (2022)$2.17B
NET TRADE (2022)-$683M

In 2022, South Korea exported $1.49B in Ferroalloys. The main destinations of South Korea exports on Ferroalloys were Netherlands ($308M), China ($259M), United States ($200M), India ($184M), and Chinese Taipei ($74.5M).

In 2022, South Korea imported $2.17B in Ferroalloys, mainly from China ($473M), Brazil ($246M), India ($232M), Russia ($177M), and Dominican Republic ($175M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Ferroalloys EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
China$118M (84.2%)
United States$111M (126%)
India$34.6M (23.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Ferroalloys BY South Korea WERE (2021 - 2022):
Netherlands-$107M (-25.8%)
Germany-$49.2M (-56.9%)
Austria-$9.32M (-77%)
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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 Ferroalloys were:
Indonesia $13.7B
South Africa $4.4B
Brazil $4.24B
In 2022, South Korea's main importing competitors in Ferroalloys were:
China $19.9B
United States $4.85B
Japan $3.5B

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Trade Value of Ferroalloys by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $165M
TOP IMPORT POTENTIALIndonesia+ $93.9M

Ferroalloys’s highest export potential is China. With an export gap of $165M.   Ferroalloys’s highest import potential is Indonesia with an import gap of $93.9M.

See methodology.

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