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2023
Exports $1.47BWorld Rnk 49 / 167
Flag Rnk 64 / 1188
2023
Destination $71.9M Singapore
2022 - 2023
FASTEST GROWING MARKET $71.9MChina
2023
PRODUCT COMPLEXITY IN Gold-2.5Rnk 1019 / 1025
2023
Imports $1.08BWorld Rnk 28 / 174
Flag Rnk 83 / 1208
2023
Origin $105M Australia
2022 - 2023
FASTEST GROWING ORIGIN $105MHong Kong
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $1.47B in Gold, making it the 49th largest exporter of Gold in the world. At the same year, Gold was the 64th most exported product in South Korea. The main destination of Gold exports from South Korea are: Singapore ($434M), Hong Kong ($273M), Thailand ($169M), China ($162M), and Switzerland ($140M).

The fastest growing export markets for Gold of South Korea between 2022 and 2023 were China ($71.9M), Singapore ($66.3M), and India ($22.6M).

Imports In 2023, South Korea imported $1.08B in Gold, becoming the 28th largest importer of Gold in the world. At the same year, Gold was the 83rd most imported product in South Korea. South Korea imports Gold primarily from: Australia ($519M), Japan ($309M), Hong Kong ($124M), China ($33.5M), and Thailand ($33M).

The fastest growing import markets in Gold for South Korea between 2022 and 2023 were Hong Kong ($105M), Thailand ($29.9M), and Ghana ($12.4M).

COMPANIES In 2024, leading companies such as Wismettac Asian Foods (1) were at the forefront of shipping Gold from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Gold exports accounted up to $99.5M and imports accounted up to $137M, resulting in a negative trade balance of $38M. Between December 2023 and December 2024 the exports of South Korea's   Gold have increased by $58.9M (145%) from $40.6M to $99.5M, while imports increased by $16.7M (13.9%) from $121M to $137M.

Destinations In December 2024, Gold were exported mostly to Hong Kong ($42.6M), Singapore ($21.6M), Chinese Taipei ($9.51M), China ($7.89M), and Vietnam ($6.07M), and were imported mostly from Australia ($80.9M), Japan ($31.1M), Hong Kong ($12.4M), Switzerland ($5.39M), and Vietnam ($2.95M).

Growth In December 2024, the increase in Gold's year-by-year exports was explained primarily by an increase in exports to Vietnam ($5.75M or 164%), China ($4.45M or 72.8%), and Chinese Taipei ($4.03M or 51.3%). In December 2024, the increase in Gold's year-by-year imports was explained primarily by an increase in imports from Australia ($57.1M or 149%), Japan ($5.92M or 19.6%), and Switzerland ($5.56M or 37k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$58.9M(145%)
IMPORT GROWTH (December 2023 - December 2024)$16.7M(13.9%)
MAIN DESTINATION (December 2024)Hong Kong$42.6M

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 (2023)$1.47B
IMPORTS (2023)$1.08B
NET TRADE (2023)$393M

In 2023, South Korea exported $1.47B in Gold. The main destinations of South Korea exports on Gold were Singapore ($434M), Hong Kong ($273M), Thailand ($169M), China ($162M), and Switzerland ($140M).

In 2023, South Korea imported $1.08B in Gold, mainly from Australia ($519M), Japan ($309M), Hong Kong ($124M), China ($33.5M), and Thailand ($33M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Gold EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
China$71.9M (80%)
Singapore$66.3M (18%)
India$22.6M (25.2k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Gold BY South Korea WERE (2022 - 2023):
Vietnam-$68.6M (-100%)
Hong Kong-$50.5M (-15.6%)
Indonesia-$43.6M (-28.3%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Gold were:
Switzerland $109B
United Arab Emirates $46.8B
United Kingdom $33B
In 2023, South Korea's main importing competitors in Gold were:
Switzerland $111B
China $87.8B
United Arab Emirates $75.2B

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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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