2022
Exports
$229MWorld Rnk 12 / 123
Flag Rnk 257 / 1204
2022
PRODUCT COMPLEXITY IN Inorganic Salts
-0.39Rnk 671 / 1025
2022
Imports
$4.02BWorld Rnk 1 / 186
Flag Rnk 20 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $229M in Inorganic Salts, making it the 12th largest exporter of Inorganic Salts in the world. At the same year, Inorganic Salts was the 257th most exported product in South Korea. The main destination of Inorganic Salts exports from South Korea are: China ($82.8M), Singapore ($35.5M), United States ($27.3M), India ($26.1M), and Japan ($11.8M).

The fastest growing export markets for Inorganic Salts of South Korea between 2021 and 2022 were Singapore ($35.5M), China ($16.9M), and Netherlands ($4M).

Imports In 2022, South Korea imported $4.02B in Inorganic Salts, becoming the 1st largest importer of Inorganic Salts in the world. At the same year, Inorganic Salts was the 20th most imported product in South Korea. South Korea imports Inorganic Salts primarily from: China ($3.31B), Chile ($364M), Japan ($63.4M), United States ($60.6M), and Vietnam ($38.8M).

The fastest growing import markets in Inorganic Salts for South Korea between 2021 and 2022 were China ($2.59B), Chile ($304M), and Hungary ($18.8M).

COMPANIES In 2023, leading companies such as General Motors (42) were at the forefront of shipping Inorganic Salts from South Korea to the United States.

Latest Trends

July 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-498k(-1.86%)
IMPORT GROWTH (July 2023 - July 2024)$-448M(-53.1%)
MAIN DESTINATION (July 2024)China$19.7M

This section shows Inorganic Salts'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 Salts over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$229M
IMPORTS (2022)$4.02B
NET TRADE (2022)-$3.79B

In 2022, South Korea exported $229M in Inorganic Salts. The main destinations of South Korea exports on Inorganic Salts were China ($82.8M), Singapore ($35.5M), United States ($27.3M), India ($26.1M), and Japan ($11.8M).

In 2022, South Korea imported $4.02B in Inorganic Salts, mainly from China ($3.31B), Chile ($364M), Japan ($63.4M), United States ($60.6M), and Vietnam ($38.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Inorganic Salts EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Singapore$35.5M (76.5k%)
China$16.9M (25.6%)
Netherlands$4M (95.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Inorganic Salts BY South Korea WERE (2021 - 2022):
Hungary-$16.7M (-98.3%)
Russia-$5.88M (-97.5%)
Belgium-$3.4M (-65%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Inorganic Salts were:
In 2022, South Korea's main importing competitors in Inorganic Salts were:
Japan $1.53B
China $856M

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Trade Value of Inorganic Salts by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $11.7M
TOP IMPORT POTENTIALUnited States+ $15.6M

Inorganic Salts’s highest export potential is China. With an export gap of $11.7M.   Inorganic Salts’s highest import potential is United States with an import gap of $15.6M.

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