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2022
Exports $1.94BWorld Rnk 7 / 128
Flag Rnk 58 / 1204
2022
Destination $22.7M Thailand
2021 - 2022
FASTEST GROWING MARKET $22.7MChina
2022
PRODUCT COMPLEXITY IN Large Flat-Rolled Stainless Steel1.05Rnk 151 / 1025
2022
Imports $1.73BWorld Rnk 11 / 208
Flag Rnk 56 / 1213
2022
Origin $183M China
2021 - 2022
FASTEST GROWING ORIGIN $183MVietnam
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $1.94B in Large Flat-Rolled Stainless Steel, making it the 7th largest exporter of Large Flat-Rolled Stainless Steel in the world. At the same year, Large Flat-Rolled Stainless Steel was the 58th most exported product in South Korea. The main destination of Large Flat-Rolled Stainless Steel exports from South Korea are: Thailand ($299M), Japan ($247M), Vietnam ($217M), China ($202M), and Turkey ($189M).

The fastest growing export markets for Large Flat-Rolled Stainless Steel of South Korea between 2021 and 2022 were China ($22.7M), Belgium ($20.2M), and India ($11M).

Imports In 2022, South Korea imported $1.73B in Large Flat-Rolled Stainless Steel, becoming the 11th largest importer of Large Flat-Rolled Stainless Steel in the world. At the same year, Large Flat-Rolled Stainless Steel was the 56th most imported product in South Korea. South Korea imports Large Flat-Rolled Stainless Steel primarily from: China ($716M), Indonesia ($266M), Chinese Taipei ($190M), Vietnam ($189M), and Japan ($175M).

The fastest growing import markets in Large Flat-Rolled Stainless Steel for South Korea between 2021 and 2022 were Vietnam ($183M), Chinese Taipei ($122M), and Indonesia ($36.5M).

COMPANIES In 2023, leading companies such as LG Electronics (4), Electrolux (3), and John Deere (1) were at the forefront of shipping Large Flat-Rolled Stainless Steel from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Large Flat-Rolled Stainless Steel exports accounted up to $167M and imports accounted up to $117M, resulting in a positive trade balance of $49.5M. Between July 2023 and July 2024 the exports of South Korea's   Large Flat-Rolled Stainless Steel have increased by $18.3M (12.3%) from $148M to $167M, while imports increased by $6.91M (6.26%) from $110M to $117M.

Destinations In July 2024, Large Flat-Rolled Stainless Steel were exported mostly to Italy ($24.2M), Thailand ($22.9M), Turkey ($22.2M), Japan ($21.3M), and Vietnam ($19.8M), and were imported mostly from China ($48.3M), Vietnam ($23.8M), Chinese Taipei ($13.8M), Japan ($11.6M), and India ($5.43M).

Growth In July 2024, the increase in Large Flat-Rolled Stainless Steel's year-by-year exports was explained primarily by an increase in exports to Poland ($52k or 10.7%), Palau ($25k or 54.3%), and Singapore ($1k or 10%). In July 2024, the increase in Large Flat-Rolled Stainless Steel's year-by-year imports was explained primarily by an increase in imports from China ($49.3M or 111%), Vietnam ($25.7M or 1.64k%), and Chinese Taipei ($20.5M or 246%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$18.3M(12.3%)
IMPORT GROWTH (July 2023 - July 2024)$6.91M(6.26%)
MAIN DESTINATION (July 2024)Italy$24.2M

This section shows Large Flat-Rolled Stainless Steel'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 Large Flat-Rolled Stainless Steel over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.94B
IMPORTS (2022)$1.73B
NET TRADE (2022)$207M

In 2022, South Korea exported $1.94B in Large Flat-Rolled Stainless Steel. The main destinations of South Korea exports on Large Flat-Rolled Stainless Steel were Thailand ($299M), Japan ($247M), Vietnam ($217M), China ($202M), and Turkey ($189M).

In 2022, South Korea imported $1.73B in Large Flat-Rolled Stainless Steel, mainly from China ($716M), Indonesia ($266M), Chinese Taipei ($190M), Vietnam ($189M), and Japan ($175M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Large Flat-Rolled Stainless Steel EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
China$22.7M (12.7%)
Belgium$20.2M (47.1%)
India$11M (16%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Large Flat-Rolled Stainless Steel BY South Korea WERE (2021 - 2022):
Japan-$114M (-31.6%)
Turkey-$76.6M (-28.9%)
Vietnam-$69.8M (-24.3%)
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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 Large Flat-Rolled Stainless Steel were:
China $8.91B
Indonesia $7.43B
Belgium $3.9B
In 2022, South Korea's main importing competitors in Large Flat-Rolled Stainless Steel were:
Germany $4.95B
Italy $4.45B
China $3.42B

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Trade Value of Large Flat-Rolled Stainless Steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $97.2M
TOP IMPORT POTENTIALChina+ $47.1M

Large Flat-Rolled Stainless Steel’s highest export potential is China. With an export gap of $97.2M.   Large Flat-Rolled Stainless Steel’s highest import potential is China with an import gap of $47.1M.

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