Iron & steel in   South Korea

Overview In December 2024 South Korea's Iron & steel exports accounted up to $2.07B and imports accounted up to $1.04B, resulting in a positive trade balance of $1.03B. Between December 2023 and December 2024 the exports of South Korea's   Iron & steel have increased by $9.86M (0.48%) from $2.06B to $2.07B, while imports decreased by $-129M (-11.1%) from $1.17B to $1.04B.

Destinations In December 2024, Iron & steel were exported mostly to India ($262M), Japan ($233M), China ($185M), Mexico ($171M), and Vietnam ($130M), and were imported mostly from China ($382M), Japan ($319M), India ($45.9M), Brazil ($38.3M), and Indonesia ($37.6M).

Growth In December 2024, the increase in Iron & steel's year-by-year exports was explained primarily by an increase in exports to United States ($62.4M or 62.3%), India ($52.5M or 30.1%), and Mexico ($27.5M or 17.4%). In December 2024, the decrease in Iron & steel's year-by-year imports was explained primarily by a decrease in imports from Japan ($-77.6M or -17%), Thailand ($-14M or -67.7%), and Chinese Taipei ($-11.9M or -24.6%).