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2022
Exports $2.62BWorld Rnk 4 / 120
Flag Rnk 47 / 1204
2022
Destination $44.5M India
2021 - 2022
FASTEST GROWING MARKET $44.5MTurkey
2022
PRODUCT COMPLEXITY IN Flat Flat-Rolled Steel1.38Rnk 72 / 1025
2022
Imports $888MWorld Rnk 17 / 201
Flag Rnk 122 / 1213
2022
Origin $44.3M China
2021 - 2022
FASTEST GROWING ORIGIN $44.3MJapan
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $2.62B in Flat Flat-Rolled Steel, making it the 4th largest exporter of Flat Flat-Rolled Steel in the world. At the same year, Flat Flat-Rolled Steel was the 47th most exported product in South Korea. The main destination of Flat Flat-Rolled Steel exports from South Korea are: India ($600M), China ($480M), Turkey ($159M), Vietnam ($153M), and Mexico ($136M).

The fastest growing export markets for Flat Flat-Rolled Steel of South Korea between 2021 and 2022 were Turkey ($44.5M), Italy ($38.6M), and India ($38M).

Imports In 2022, South Korea imported $888M in Flat Flat-Rolled Steel, becoming the 17th largest importer of Flat Flat-Rolled Steel in the world. At the same year, Flat Flat-Rolled Steel was the 122nd most imported product in South Korea. South Korea imports Flat Flat-Rolled Steel primarily from: China ($468M), Japan ($336M), Sweden ($29.3M), Germany ($11.6M), and Finland ($7.11M).

The fastest growing import markets in Flat Flat-Rolled Steel for South Korea between 2021 and 2022 were Japan ($44.3M), Sweden ($6.77M), and Finland ($1.97M).

COMPANIES In 2023, leading companies such as Hyosung (11) were at the forefront of shipping Flat Flat-Rolled Steel from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Flat Flat-Rolled Steel exports accounted up to $227M and imports accounted up to $46.2M, resulting in a positive trade balance of $181M. Between July 2023 and July 2024 the exports of South Korea's   Flat Flat-Rolled Steel have increased by $27M (13.5%) from $200M to $227M, while imports increased by $273k (0.59%) from $45.9M to $46.2M.

Destinations In July 2024, Flat Flat-Rolled Steel were exported mostly to India ($38.7M), Mexico ($31.8M), China ($29.9M), Turkey ($17.3M), and Thailand ($17.2M), and were imported mostly from China ($22.5M), Japan ($15.8M), Sweden ($3.26M), Germany ($1.58M), and Belgium ($1.26M).

Growth In July 2024, the increase in Flat Flat-Rolled Steel's year-by-year exports was explained primarily by an increase in exports to United States ($4.44M or 101%), Thailand ($3.23M or 46.2%), and Chinese Taipei ($2.64M or 8.52k%). In July 2024, the increase in Flat Flat-Rolled Steel's year-by-year imports was explained primarily by an increase in imports from Australia ($613k or 61.3k%), France ($423k or 173%), and Austria ($333k or 37.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$27M(13.5%)
IMPORT GROWTH (July 2023 - July 2024)$273k(0.59%)
MAIN DESTINATION (July 2024)India$38.7M

This section shows Flat Flat-Rolled Steel'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 Flat Flat-Rolled Steel over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$2.62B
IMPORTS (2022)$888M
NET TRADE (2022)$1.73B

In 2022, South Korea exported $2.62B in Flat Flat-Rolled Steel. The main destinations of South Korea exports on Flat Flat-Rolled Steel were India ($600M), China ($480M), Turkey ($159M), Vietnam ($153M), and Mexico ($136M).

In 2022, South Korea imported $888M in Flat Flat-Rolled Steel, mainly from China ($468M), Japan ($336M), Sweden ($29.3M), Germany ($11.6M), and Finland ($7.11M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Flat Flat-Rolled Steel EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Turkey$44.5M (38.8%)
Italy$38.6M (55.6%)
India$38M (6.77%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Flat Flat-Rolled Steel BY South Korea WERE (2021 - 2022):
Japan-$87.4M (-60.1%)
China-$79.6M (-14.2%)
Thailand-$56.7M (-33.8%)
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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 Flat Flat-Rolled Steel were:
Japan $6.3B
China $5.89B
Germany $3.91B
In 2022, South Korea's main importing competitors in Flat Flat-Rolled Steel were:
Mexico $2.75B
Germany $2.58B
Italy $2.38B

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Trade Value of Flat Flat-Rolled Steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $78.4M
TOP IMPORT POTENTIALChina+ $24.8M

Flat Flat-Rolled Steel’s highest export potential is China. With an export gap of $78.4M.   Flat Flat-Rolled Steel’s highest import potential is China with an import gap of $24.8M.

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