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2022
Exports $1.37BWorld Rnk 46 / 176
Flag Rnk 78 / 1204
2022
Destination $329M Singapore
2021 - 2022
FASTEST GROWING MARKET $329MSingapore
2022
PRODUCT COMPLEXITY IN Gold-2.43Rnk 1016 / 1025
2022
Imports $1.39BWorld Rnk 26 / 178
Flag Rnk 76 / 1213
2022
Origin $57.3M Australia
2021 - 2022
FASTEST GROWING ORIGIN $57.3MUnited Arab Emirates
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $1.37B in Gold, making it the 46th largest exporter of Gold in the world. At the same year, Gold was the 78th most exported product in South Korea. The main destination of Gold exports from South Korea are: Singapore ($368M), Hong Kong ($289M), Thailand ($193M), Switzerland ($107M), and Chinese Taipei ($98.4M).

The fastest growing export markets for Gold of South Korea between 2021 and 2022 were Singapore ($329M), Thailand ($153M), and Hong Kong ($125M).

Imports In 2022, South Korea imported $1.39B in Gold, becoming the 26th largest importer of Gold in the world. At the same year, Gold was the 76th most imported product in South Korea. South Korea imports Gold primarily from: Australia ($603M), Japan ($379M), Mongolia ($76.2M), United Arab Emirates ($60.3M), and Canada ($57.2M).

The fastest growing import markets in Gold for South Korea between 2021 and 2022 were United Arab Emirates ($57.3M), Japan ($26.7M), and Singapore ($3.47M).

Latest Trends

August 2024

About

Overview In August 2024 South Korea's Gold exports accounted up to $145M and imports accounted up to $323M, resulting in a negative trade balance of $177M. Between August 2023 and August 2024 the exports of South Korea's   Gold have increased by $71.2M (96.1%) from $74.1M to $145M, while imports increased by $257M (392%) from $65.6M to $323M.

Destinations In August 2024, Gold were exported mostly to Hong Kong ($110M), Japan ($10.5M), Chinese Taipei ($7.36M), Vietnam ($5.48M), and Philippines ($4.07M), and were imported mostly from Australia ($148M), Hong Kong ($89.7M), Japan ($36.4M), United Arab Emirates ($22.4M), and Singapore ($9.38M).

Growth In August 2024, the increase in Gold's year-by-year exports was explained primarily by an increase in exports to Singapore ($10.3M or 165%), Thailand ($1.41M or 13.5%), and Japan ($429k or 15.9%). In August 2024, the increase in Gold's year-by-year imports was explained primarily by an increase in imports from United States ($84k or 12.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$71.2M(96.1%)
IMPORT GROWTH (August 2023 - August 2024)$257M(392%)
MAIN DESTINATION (August 2024)Hong Kong$110M

This section shows Gold'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 Gold over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.37B
IMPORTS (2022)$1.39B
NET TRADE (2022)-$21.1M

In 2022, South Korea exported $1.37B in Gold. The main destinations of South Korea exports on Gold were Singapore ($368M), Hong Kong ($289M), Thailand ($193M), Switzerland ($107M), and Chinese Taipei ($98.4M).

In 2022, South Korea imported $1.39B in Gold, mainly from Australia ($603M), Japan ($379M), Mongolia ($76.2M), United Arab Emirates ($60.3M), and Canada ($57.2M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Gold EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Singapore$329M (837%)
Thailand$153M (388%)
Hong Kong$125M (76.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Gold BY South Korea WERE (2021 - 2022):
Chinese Taipei-$26.8M (-21.4%)
United Arab Emirates-$23.3M (-89.9%)
India-$17.5M (-99.7%)
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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 Gold were:
Switzerland $101B
United States $37.5B
United Arab Emirates $32.8B
In 2022, South Korea's main importing competitors in Gold were:
Switzerland $94.9B
China $67.6B
United Arab Emirates $57.1B

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Trade Value of Gold by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $146M
TOP IMPORT POTENTIALUnited Arab Emirates+ $55.9M

Gold’s highest export potential is China. With an export gap of $146M.   Gold’s highest import potential is United Arab Emirates with an import gap of $55.9M.

See methodology.

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