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2022
Exports $673MWorld Rnk 36 / 175
Flag Rnk 49 / 96
2022
Destination $85.4M Thailand
2021 - 2022
FASTEST GROWING MARKET $85.4MIndia
2022
PRODUCT COMPLEXITY IN Fertilizers-0.82Rnk 785 / 1025
2022
Imports $1.17BWorld Rnk 27 / 223
Flag Rnk 53 / 96
2022
Origin $120M China
2021 - 2022
FASTEST GROWING ORIGIN $120MQatar
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $673M in Fertilizers, making it the 36th largest exporter of Fertilizers in the world. At the same year, Fertilizers was the 49th most exported product in South Korea. The main destination of Fertilizers exports from South Korea are: Thailand ($119M), India ($104M), Japan ($77.8M), Philippines ($60.9M), and Vietnam ($56.2M).

The fastest growing export markets for Fertilizers of South Korea between 2021 and 2022 were India ($85.4M), Japan ($24.9M), and Thailand ($24.3M).

Imports In 2022, South Korea imported $1.17B in Fertilizers, becoming the 27th largest importer of Fertilizers in the world. At the same year, Fertilizers was the 53rd most imported product in South Korea. South Korea imports Fertilizers primarily from: China ($368M), United States ($140M), Qatar ($139M), Israel ($123M), and Vietnam ($68.8M).

The fastest growing import markets in Fertilizers for South Korea between 2021 and 2022 were Qatar ($120M), Israel ($108M), and Saudi Arabia ($37.8M).

COMPANIES In 2023, leading companies such as Electrolux (1), Samsung (1), and LG Electronics (1) were at the forefront of shipping Fertilizers from South Korea to the United States.

Latest Trends

August 2024

About

Overview In August 2024 South Korea's Fertilizers exports accounted up to $35.1M and imports accounted up to $44M, resulting in a negative trade balance of $8.87M. Between August 2023 and August 2024 the exports of South Korea's   Fertilizers have decreased by $-3.41M (-8.85%) from $38.5M to $35.1M, while imports increased by $18.2M (70.9%) from $25.7M to $44M.

Destinations In August 2024, Fertilizers were exported mostly to United States ($9.8M), Thailand ($9.29M), Vietnam ($7.07M), Australia ($3.35M), and Japan ($3.15M), and were imported mostly from Saudi Arabia ($9.73M), China ($9.32M), Vietnam ($5.8M), Indonesia ($5.01M), and Laos ($3.11M).

Growth In August 2024, the decrease in Fertilizers's year-by-year exports was explained primarily by a decrease in exports to Philippines ($-3.13M or -60%), Japan ($-2.44M or -22.8%), and Thailand ($-1.76M or -87.6%). In August 2024, the increase in Fertilizers's year-by-year imports was explained primarily by an increase in imports from China ($6.02M or 17.8%), Laos ($5.44M or 1.87k%), and Japan ($733k or 74.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-3.41M(-8.85%)
IMPORT GROWTH (August 2023 - August 2024)$18.2M(70.9%)
MAIN DESTINATION (August 2024)United States$9.8M

This section shows Fertilizers'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 Fertilizers over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$673M
IMPORTS (2022)$1.17B
NET TRADE (2022)-$500M

In 2022, South Korea exported $673M in Fertilizers. The main destinations of South Korea exports on Fertilizers were Thailand ($119M), India ($104M), Japan ($77.8M), Philippines ($60.9M), and Vietnam ($56.2M).

In 2022, South Korea imported $1.17B in Fertilizers, mainly from China ($368M), United States ($140M), Qatar ($139M), Israel ($123M), and Vietnam ($68.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Fertilizers EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
India$85.4M (464%)
Japan$24.9M (47.2%)
Thailand$24.3M (25.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Fertilizers BY South Korea WERE (2021 - 2022):
Turkey-$15.5M (-99.9%)
Brazil-$14.2M (-47%)
New Zealand-$10.8M (-34.3%)
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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 Fertilizers were:
Russia $18.7B
Canada $14.5B
China $12.7B
In 2022, South Korea's main importing competitors in Fertilizers were:
Brazil $22.5B
India $17B
United States $13.3B

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Trade Value of Fertilizers by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $41.6M
TOP IMPORT POTENTIALChina+ $71.3M

Fertilizers’s highest export potential is India. With an export gap of $41.6M.   Fertilizers’s highest import potential is China with an import gap of $71.3M.

See methodology.

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