2022
Exports
$23.8MWorld Rnk 35 / 179
Flag Rnk 614 / 1204
2022
PRODUCT COMPLEXITY IN Iron Cloth
-0.056Rnk 564 / 1025
2022
Imports
$70.6MWorld Rnk 34 / 221
Flag Rnk 589 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $23.8M in Iron Cloth, making it the 35th largest exporter of Iron Cloth in the world. At the same year, Iron Cloth was the 614th most exported product in South Korea. The main destination of Iron Cloth exports from South Korea are: United States ($5.31M), Luxembourg ($4.77M), Vietnam ($3.95M), China ($2.03M), and Thailand ($1.38M).

The fastest growing export markets for Iron Cloth of South Korea between 2021 and 2022 were Luxembourg ($2.91M), Vietnam ($506k), and United States ($401k).

Imports In 2022, South Korea imported $70.6M in Iron Cloth, becoming the 34th largest importer of Iron Cloth in the world. At the same year, Iron Cloth was the 589th most imported product in South Korea. South Korea imports Iron Cloth primarily from: China ($53.4M), Japan ($7.57M), Vietnam ($2.89M), Switzerland ($2.27M), and Germany ($1.11M).

The fastest growing import markets in Iron Cloth for South Korea between 2021 and 2022 were China ($12.5M), Vietnam ($1.47M), and Italy ($425k).

COMPANIES In 2023, leading companies such as LG Electronics (2), Amazon (1), and General Motors (1) were at the forefront of shipping Iron Cloth from South Korea to the United States.

Latest Trends

July 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$682k(53.7%)
IMPORT GROWTH (July 2023 - July 2024)$433k(13%)
MAIN DESTINATION (July 2024)Vietnam$635k

This section shows Iron Cloth'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 Cloth over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$23.8M
IMPORTS (2022)$70.6M
NET TRADE (2022)-$46.8M

In 2022, South Korea exported $23.8M in Iron Cloth. The main destinations of South Korea exports on Iron Cloth were United States ($5.31M), Luxembourg ($4.77M), Vietnam ($3.95M), China ($2.03M), and Thailand ($1.38M).

In 2022, South Korea imported $70.6M in Iron Cloth, mainly from China ($53.4M), Japan ($7.57M), Vietnam ($2.89M), Switzerland ($2.27M), and Germany ($1.11M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron Cloth EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Luxembourg$2.91M (157%)
Vietnam$506k (14.7%)
United States$401k (8.18%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Cloth BY South Korea WERE (2021 - 2022):
China-$8.33M (-80.4%)
Philippines-$638k (-84.7%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Iron Cloth were:
China $2.36B
Italy $728M
In 2022, South Korea's main importing competitors in Iron Cloth were:

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Trade Value of Iron Cloth by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $1.85M
TOP IMPORT POTENTIALChina+ $10.6M

Iron Cloth’s highest export potential is United States. With an export gap of $1.85M.   Iron Cloth’s highest import potential is China with an import gap of $10.6M.

See methodology.

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