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2022
Exports $2.11BWorld Rnk 11 / 221
Flag Rnk 24 / 96
2022
Destination $77M China
2021 - 2022
FASTEST GROWING MARKET $77MChina
2022
PRODUCT COMPLEXITY IN Glass & glassware1.31Rnk 92 / 1025
2022
Imports $2.7BWorld Rnk 7 / 224
Flag Rnk 31 / 96
2022
Origin $34M China
2021 - 2022
FASTEST GROWING ORIGIN $34MMalaysia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $2.11B in Glass & glassware, making it the 11th largest exporter of Glass & glassware in the world. At the same year, Glass & glassware was the 24th most exported product in South Korea. The main destination of Glass & glassware exports from South Korea are: China ($942M), Hong Kong ($256M), United States ($218M), Japan ($162M), and Chinese Taipei ($152M).

The fastest growing export markets for Glass & glassware of South Korea between 2021 and 2022 were China ($77M), United States ($44.6M), and Poland ($5.52M).

Imports In 2022, South Korea imported $2.7B in Glass & glassware, becoming the 7th largest importer of Glass & glassware in the world. At the same year, Glass & glassware was the 31st most imported product in South Korea. South Korea imports Glass & glassware primarily from: China ($1.21B), Japan ($502M), Malaysia ($249M), United States ($197M), and Singapore ($119M).

The fastest growing import markets in Glass & glassware for South Korea between 2021 and 2022 were Malaysia ($34M), Germany ($12.6M), and United States ($8.53M).

COMPANIES In 2023, leading companies such as LG Electronics (470), Samsung (62), and Nexen Tire (48) were at the forefront of shipping Glass & glassware from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Glass & glassware exports accounted up to $172M and imports accounted up to $224M, resulting in a negative trade balance of $52.2M. Between October 2023 and October 2024 the exports of South Korea's   Glass & glassware have increased by $17.2M (11.1%) from $155M to $172M, while imports increased by $12.1M (5.72%) from $212M to $224M.

Destinations In October 2024, Glass & glassware were exported mostly to China ($94.7M), United States ($20.5M), Japan ($12.4M), Chinese Taipei ($8.1M), and Hong Kong ($6.6M), and were imported mostly from China ($98.4M), Japan ($53M), United States ($17.4M), Singapore ($16.4M), and Germany ($9.13M).

Growth In October 2024, the increase in Glass & glassware's year-by-year exports was explained primarily by an increase in exports to China ($3.66M or 4.9%), Poland ($933k or 67.6%), and Philippines ($431k or 184%). In October 2024, the increase in Glass & glassware's year-by-year imports was explained primarily by an increase in imports from United States ($1.57M or 10.9%), Indonesia ($1.29M or 95.8%), and Italy ($1.18M or 33.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$17.2M(11.1%)
IMPORT GROWTH (October 2023 - October 2024)$12.1M(5.72%)
MAIN DESTINATION (October 2024)China$94.7M

This section shows Glass & glassware'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 Glass & glassware over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$2.11B
IMPORTS (2022)$2.7B
NET TRADE (2022)-$584M

In 2022, South Korea exported $2.11B in Glass & glassware. The main destinations of South Korea exports on Glass & glassware were China ($942M), Hong Kong ($256M), United States ($218M), Japan ($162M), and Chinese Taipei ($152M).

In 2022, South Korea imported $2.7B in Glass & glassware, mainly from China ($1.21B), Japan ($502M), Malaysia ($249M), United States ($197M), and Singapore ($119M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Glass & glassware EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
China$77M (8.89%)
United States$44.6M (25.7%)
Poland$5.52M (51.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Glass & glassware BY South Korea WERE (2021 - 2022):
Hong Kong-$117M (-31.3%)
Chinese Taipei-$77.4M (-33.7%)
Japan-$30.9M (-16%)
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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 Glass & glassware were:
China $25.2B
Germany $7.92B
United States $6.41B
In 2022, South Korea's main importing competitors in Glass & glassware were:
United States $10.7B
Germany $6.38B
China $4.52B

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Trade Value of Glass & glassware by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $14.5M
TOP IMPORT POTENTIALChina+ $102M

Glass & glassware’s highest export potential is Germany. With an export gap of $14.5M.   Glass & glassware’s highest import potential is China with an import gap of $102M.

See methodology.

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