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2022
Exports $62.4MWorld Rnk 15 / 188
Flag Rnk 449 / 1204
2022
Destination $4.1M Japan
2021 - 2022
FASTEST GROWING MARKET $4.1MMexico
2022
PRODUCT COMPLEXITY IN Iron Chains1.44Rnk 65 / 1025
2022
Imports $144MWorld Rnk 13 / 222
Flag Rnk 435 / 1213
2022
Origin $6.54M China
2021 - 2022
FASTEST GROWING ORIGIN $6.54MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $62.4M in Iron Chains, making it the 15th largest exporter of Iron Chains in the world. At the same year, Iron Chains was the 449th most exported product in South Korea. The main destination of Iron Chains exports from South Korea are: Japan ($9.03M), China ($8.51M), United States ($6.83M), United Kingdom ($5.46M), and Mexico ($5.14M).

The fastest growing export markets for Iron Chains of South Korea between 2021 and 2022 were Mexico ($4.1M), Brazil ($3.61M), and United Kingdom ($3.04M).

Imports In 2022, South Korea imported $144M in Iron Chains, becoming the 13th largest importer of Iron Chains in the world. At the same year, Iron Chains was the 435th most imported product in South Korea. South Korea imports Iron Chains primarily from: China ($57.1M), Germany ($38.3M), Japan ($22.7M), United States ($7.62M), and France ($5.42M).

The fastest growing import markets in Iron Chains for South Korea between 2021 and 2022 were China ($6.54M), Vietnam ($1.34M), and United Kingdom ($987k).

COMPANIES In 2023, leading companies such as Ford Motor Company (37), General Motors (18), and GE RENEWABLES NORTH AMERICA LLC (12) were at the forefront of shipping Iron Chains from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Iron Chains exports accounted up to $4.28M and imports accounted up to $12.5M, resulting in a negative trade balance of $8.22M. Between July 2023 and July 2024 the exports of South Korea's   Iron Chains have increased by $749k (21.2%) from $3.53M to $4.28M, while imports increased by $146k (1.18%) from $12.4M to $12.5M.

Destinations In July 2024, Iron Chains were exported mostly to United States ($1.4M), Japan ($713k), China ($424k), Vietnam ($389k), and Mexico ($211k), and were imported mostly from China ($4.73M), Germany ($3.96M), Japan ($1.93M), United States ($431k), and Italy ($313k).

Growth In July 2024, the increase in Iron Chains's year-by-year exports was explained primarily by an increase in exports to China ($407k or 71.3%), Vietnam ($205k or 586%), and Uzbekistan ($203k or 157%). In July 2024, the increase in Iron Chains's year-by-year imports was explained primarily by an increase in imports from Germany ($1.59M or 51.9%), Japan ($1.49M or 130%), and Vietnam ($659k or 2.35k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$749k(21.2%)
IMPORT GROWTH (July 2023 - July 2024)$146k(1.18%)
MAIN DESTINATION (July 2024)United States$1.4M

This section shows Iron Chains'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 Iron Chains over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$62.4M
IMPORTS (2022)$144M
NET TRADE (2022)-$81.4M

In 2022, South Korea exported $62.4M in Iron Chains. The main destinations of South Korea exports on Iron Chains were Japan ($9.03M), China ($8.51M), United States ($6.83M), United Kingdom ($5.46M), and Mexico ($5.14M).

In 2022, South Korea imported $144M in Iron Chains, mainly from China ($57.1M), Germany ($38.3M), Japan ($22.7M), United States ($7.62M), and France ($5.42M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron Chains EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Mexico$4.1M (396%)
Brazil$3.61M (5.41k%)
United Kingdom$3.04M (125%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Chains BY South Korea WERE (2021 - 2022):
Russia-$3.91M (-91.5%)
Netherlands-$1.15M (-63.3%)
Poland-$598k (-42.2%)
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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 Iron Chains were:
China $2.52B
Germany $905M
Japan $503M
In 2022, South Korea's main importing competitors in Iron Chains were:
United States $827M
Germany $495M
Canada $260M

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Trade Value of Iron Chains by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $3.8M
TOP IMPORT POTENTIALChina+ $17.1M

Iron Chains’s highest export potential is China. With an export gap of $3.8M.   Iron Chains’s highest import potential is China with an import gap of $17.1M.

See methodology.

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