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2022
Exports $306MWorld Rnk 26 / 162
Flag Rnk 64 / 96
2022
Destination $43.4M China
2021 - 2022
FASTEST GROWING MARKET $43.4MChina
2022
PRODUCT COMPLEXITY IN Nickel articles1.47Rnk 61 / 1025
2022
Imports $2.02BWorld Rnk 7 / 206
Flag Rnk 40 / 96
2022
Origin $133M Australia
2021 - 2022
FASTEST GROWING ORIGIN $133MMadagascar
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $306M in Nickel articles, making it the 26th largest exporter of Nickel articles in the world. At the same year, Nickel articles was the 64th most exported product in South Korea. The main destination of Nickel articles exports from South Korea are: China ($104M), Japan ($69.6M), Vietnam ($28.6M), United States ($24.8M), and India ($19.6M).

The fastest growing export markets for Nickel articles of South Korea between 2021 and 2022 were China ($43.4M), Vietnam ($18.9M), and United States ($18.4M).

Imports In 2022, South Korea imported $2.02B in Nickel articles, becoming the 7th largest importer of Nickel articles in the world. At the same year, Nickel articles was the 40th most imported product in South Korea. South Korea imports Nickel articles primarily from: Australia ($464M), China ($231M), Canada ($199M), Japan ($188M), and Finland ($187M).

The fastest growing import markets in Nickel articles for South Korea between 2021 and 2022 were Madagascar ($133M), China ($88.4M), and Indonesia ($77.3M).

COMPANIES In 2023, leading companies such as Victaulic (131), LG Electronics (36), and General Motors (7) were at the forefront of shipping Nickel articles from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Nickel articles exports accounted up to $13.7M and imports accounted up to $117M, resulting in a negative trade balance of $103M. Between October 2023 and October 2024 the exports of South Korea's   Nickel articles have decreased by $-1.89M (-12.1%) from $15.6M to $13.7M, while imports decreased by $-22.9M (-16.4%) from $140M to $117M.

Destinations In October 2024, Nickel articles were exported mostly to China ($4.51M), Japan ($2.21M), Vietnam ($1.21M), United Arab Emirates ($929k), and Malaysia ($866k), and were imported mostly from Australia ($34.5M), Japan ($22M), China ($11M), Madagascar ($10.6M), and United States ($9.09M).

Growth In October 2024, the decrease in Nickel articles's year-by-year exports was explained primarily by a decrease in exports to China ($-1.71M or -37.5%), United Kingdom ($-661k or -99.7%), and Philippines ($-213k or -16.3%). In October 2024, the decrease in Nickel articles's year-by-year imports was explained primarily by a decrease in imports from Turkey ($-3.6M or -91.8%), United States ($-3.51M or -34.9%), and Finland ($-2.79M or -16.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-1.89M(-12.1%)
IMPORT GROWTH (October 2023 - October 2024)$-22.9M(-16.4%)
MAIN DESTINATION (October 2024)China$4.51M

This section shows Nickel articles'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 Nickel articles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$306M
IMPORTS (2022)$2.02B
NET TRADE (2022)-$1.71B

In 2022, South Korea exported $306M in Nickel articles. The main destinations of South Korea exports on Nickel articles were China ($104M), Japan ($69.6M), Vietnam ($28.6M), United States ($24.8M), and India ($19.6M).

In 2022, South Korea imported $2.02B in Nickel articles, mainly from Australia ($464M), China ($231M), Canada ($199M), Japan ($188M), and Finland ($187M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Nickel articles EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
China$43.4M (71.4%)
Vietnam$18.9M (194%)
United States$18.4M (286%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Nickel articles BY South Korea WERE (2021 - 2022):
Poland-$1.45M (-26.7%)
Australia-$1.35M (-90.5%)
Canada-$1.15M (-86.4%)
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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 Nickel articles were:
Indonesia $6.3B
Canada $5.49B
Russia $4.87B
In 2022, South Korea's main importing competitors in Nickel articles were:
China $12.8B
United States $4.52B
Japan $4.39B

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Trade Value of Nickel articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $27.2M
TOP IMPORT POTENTIALSouth Africa+ $12.5M

Nickel articles’s highest export potential is China. With an export gap of $27.2M.   Nickel articles’s highest import potential is South Africa with an import gap of $12.5M.

See methodology.

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