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2022
Exports $8.96BWorld Rnk 6 / 210
Flag Rnk 11 / 96
2022
Destination $1.05B Poland
2021 - 2022
FASTEST GROWING MARKET $1.05BPoland
2022
PRODUCT COMPLEXITY IN Inorganic chemicals1.72Rnk 21 / 1025
2022
Imports $13BWorld Rnk 3 / 225
Flag Rnk 10 / 96
2022
Origin $3.43B China
2021 - 2022
FASTEST GROWING ORIGIN $3.43BChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $8.96B in Inorganic chemicals, making it the 6th largest exporter of Inorganic chemicals in the world. At the same year, Inorganic chemicals was the 11th most exported product in South Korea. The main destination of Inorganic chemicals exports from South Korea are: Poland ($2.1B), China ($1.25B), United States ($1.18B), Japan ($916M), and Malaysia ($508M).

The fastest growing export markets for Inorganic chemicals of South Korea between 2021 and 2022 were Poland ($1.05B), United States ($870M), and Slovenia ($293M).

Imports In 2022, South Korea imported $13B in Inorganic chemicals, becoming the 3rd largest importer of Inorganic chemicals in the world. At the same year, Inorganic chemicals was the 10th most imported product in South Korea. South Korea imports Inorganic chemicals primarily from: China ($6.36B), Chile ($1.37B), United States ($780M), Japan ($703M), and Indonesia ($526M).

The fastest growing import markets in Inorganic chemicals for South Korea between 2021 and 2022 were China ($3.43B), Chile ($1.05B), and Saudi Arabia ($284M).

COMPANIES In 2023, leading companies such as Samsung (66), LG Electronics (63), and General Motors (57) were at the forefront of shipping Inorganic chemicals from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Inorganic chemicals exports accounted up to $712M and imports accounted up to $820M, resulting in a negative trade balance of $108M. Between October 2023 and October 2024 the exports of South Korea's   Inorganic chemicals have decreased by $-306M (-30.1%) from $1.02B to $712M, while imports decreased by $-549M (-40.1%) from $1.37B to $820M.

Destinations In October 2024, Inorganic chemicals were exported mostly to China ($190M), Poland ($121M), Hungary ($68.4M), United States ($68.4M), and Indonesia ($46.5M), and were imported mostly from China ($458M), United States ($67.6M), Japan ($61.2M), Chile ($38.2M), and Indonesia ($34.1M).

Growth In October 2024, the decrease in Inorganic chemicals's year-by-year exports was explained primarily by a decrease in exports to Japan ($-21.6M or -35.8%), Vietnam ($-11.5M or -47.5%), and Indonesia ($-3.51M or -15.3%). In October 2024, the decrease in Inorganic chemicals's year-by-year imports was explained primarily by a decrease in imports from Indonesia ($-24.8M or -40.4%), Canada ($-20.7M or -90.9%), and Saudi Arabia ($-15.4M or -27.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-306M(-30.1%)
IMPORT GROWTH (October 2023 - October 2024)$-549M(-40.1%)
MAIN DESTINATION (October 2024)China$190M

This section shows Inorganic chemicals'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 Inorganic chemicals over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$8.96B
IMPORTS (2022)$13B
NET TRADE (2022)-$4B

In 2022, South Korea exported $8.96B in Inorganic chemicals. The main destinations of South Korea exports on Inorganic chemicals were Poland ($2.1B), China ($1.25B), United States ($1.18B), Japan ($916M), and Malaysia ($508M).

In 2022, South Korea imported $13B in Inorganic chemicals, mainly from China ($6.36B), Chile ($1.37B), United States ($780M), Japan ($703M), and Indonesia ($526M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Inorganic chemicals EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Poland$1.05B (101%)
United States$870M (284%)
Slovenia$293M (26.1k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Inorganic chemicals BY South Korea WERE (2021 - 2022):
China-$1.61B (-56.2%)
Hungary-$265M (-46.3%)
Russia-$36.8M (-65.2%)
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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 Inorganic chemicals were:
China $33.7B
United States $17B
Germany $15.3B
In 2022, South Korea's main importing competitors in Inorganic chemicals were:
China $21.7B
United States $20B

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Trade Value of Inorganic chemicals by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $117M
TOP IMPORT POTENTIALGermany+ $46.8M

Inorganic chemicals’s highest export potential is China. With an export gap of $117M.   Inorganic chemicals’s highest import potential is Germany with an import gap of $46.8M.

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