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2022
Exports $337kWorld Rnk 51 / 89
Flag Rnk 1062 / 1204
2022
Destination $227k China
2021 - 2022
FASTEST GROWING MARKET $227kChina
2022
PRODUCT COMPLEXITY IN Iron Reductions-1.54Rnk 951 / 1025
2022
Imports $272MWorld Rnk 5 / 144
Flag Rnk 295 / 1213
2022
Origin $162M Malaysia
2021 - 2022
FASTEST GROWING ORIGIN $162MMalaysia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $337k in Iron Reductions, making it the 51st largest exporter of Iron Reductions in the world. At the same year, Iron Reductions was the 1062nd most exported product in South Korea. The main destination of Iron Reductions exports from South Korea are: China ($227k), Vietnam ($43.9k), Malaysia ($40.1k), Chinese Taipei ($9.7k), and Philippines ($7.91k).

The fastest growing export markets for Iron Reductions of South Korea between 2021 and 2022 were China ($227k), Vietnam ($43.9k), and Austria ($5.78k).

Imports In 2022, South Korea imported $272M in Iron Reductions, becoming the 5th largest importer of Iron Reductions in the world. At the same year, Iron Reductions was the 295th most imported product in South Korea. South Korea imports Iron Reductions primarily from: Malaysia ($261M), China ($8.9M), United States ($855k), India ($334k), and South Africa ($153k).

The fastest growing import markets in Iron Reductions for South Korea between 2021 and 2022 were Malaysia ($162M), China ($5.05M), and United States ($182k).

Latest Trends

August 2024

About

Overview In August 2024 South Korea's Iron Reductions exports accounted up to $0 and imports accounted up to $103k, resulting in a negative trade balance of $103k. Between August 2023 and August 2024 the exports of South Korea's   Iron Reductions have remained the same by $0 (N/A%) from $0 to $0, while imports decreased by $-14.8M (-99.3%) from $14.9M to $103k.

Destinations In August 2024, Iron Reductions were exported mostly to China ($0), India ($0), Japan ($0), Chinese Taipei ($0), and United States ($0), and were imported mostly from India ($76k), China ($27k), Japan ($0), Chinese Taipei ($0), and United States ($0).

Growth In August 2024, the change in Iron Reductions's year-by-year exports was explained primarily by a decrease in exports to . In August 2024, the decrease in Iron Reductions's year-by-year imports was explained primarily by a decrease in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
IMPORT GROWTH (August 2023 - August 2024)$-14.8M(-99.3%)
MAIN DESTINATION (August 2024)China$0

This section shows Iron Reductions'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 Reductions over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$337k
IMPORTS (2022)$272M
NET TRADE (2022)-$271M

In 2022, South Korea exported $337k in Iron Reductions. The main destinations of South Korea exports on Iron Reductions were China ($227k), Vietnam ($43.9k), Malaysia ($40.1k), Chinese Taipei ($9.7k), and Philippines ($7.91k).

In 2022, South Korea imported $272M in Iron Reductions, mainly from Malaysia ($261M), China ($8.9M), United States ($855k), India ($334k), and South Africa ($153k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron Reductions EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
China$227k (43.1k%)
Vietnam$43.9k (1%)
Austria$5.78k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Reductions BY South Korea WERE (2021 - 2022):
Malaysia-$127k (-76%)
Iran-$4.75k (-100%)
Philippines-$4.65k (-37%)
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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 Reductions were:
Russia $1.26B
Trinidad and Tobago $872M
Qatar $625M
In 2022, South Korea's main importing competitors in Iron Reductions were:
United States $885M
Kuwait $767M
Italy $415M

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Trade Value of Iron Reductions by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $205k
TOP IMPORT POTENTIALChina+ $1.79M

Iron Reductions’s highest export potential is China. With an export gap of $205k.   Iron Reductions’s highest import potential is China with an import gap of $1.79M.

See methodology.

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