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2023
Exports $131MWorld Rnk 1 / 96
Flag Rnk 311 / 1188
2023
Destination $4.96M Japan
2022 - 2023
FASTEST GROWING MARKET $4.96MIndia
2023
Imports $615kWorld Rnk 66 / 180
Flag Rnk 1132 / 1208
2023
Origin $65.2k Japan
2022 - 2023
FASTEST GROWING ORIGIN $65.2kGermany
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $131M in Nitric Acids, making it the 1st largest exporter of Nitric Acids in the world. At the same year, Nitric Acids was the 311th most exported product in South Korea. The main destination of Nitric Acids exports from South Korea are: Japan ($33.7M), Malaysia ($27.3M), China ($18.9M), India ($14.8M), and Thailand ($13.5M).

The fastest growing export markets for Nitric Acids of South Korea between 2022 and 2023 were India ($4.96M), Singapore ($227k), and Burma ($192k).

Imports In 2023, South Korea imported $615k in Nitric Acids, becoming the 66th largest importer of Nitric Acids in the world. At the same year, Nitric Acids was the 1132nd most imported product in South Korea. South Korea imports Nitric Acids primarily from: Japan ($249k), Germany ($175k), United States ($88.1k), Chinese Taipei ($83.6k), and Belgium ($18.4k).

The fastest growing import markets in Nitric Acids for South Korea between 2022 and 2023 were Germany ($65.2k), Belgium ($17.2k), and Singapore ($516).

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Nitric Acids exports accounted up to $10.3M and imports accounted up to $42k, resulting in a positive trade balance of $10.2M. Between December 2023 and December 2024 the exports of South Korea's   Nitric Acids have decreased by $-813k (-7.34%) from $11.1M to $10.3M, while imports decreased by $-21k (-33.3%) from $63k to $42k.

Destinations In December 2024, Nitric Acids were exported mostly to Japan ($2.13M), Malaysia ($2.08M), Thailand ($1.77M), India ($1.27M), and Indonesia ($631k), and were imported mostly from Japan ($23k), United States ($7k), Switzerland ($6k), Belgium ($4k), and Canada ($2k).

Growth In December 2024, the decrease in Nitric Acids's year-by-year exports was explained primarily by a decrease in exports to India ($-2.53M or -75.2%), Indonesia ($-313k or -51.9%), and Thailand ($-258k or -17%). In December 2024, the decrease in Nitric Acids's year-by-year imports was explained primarily by a decrease in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-813k(-7.34%)
IMPORT GROWTH (December 2023 - December 2024)$-21k(-33.3%)
MAIN DESTINATION (December 2024)Japan$2.13M

This section shows Nitric Acids'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 Nitric Acids over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$131M
IMPORTS (2023)$615k
NET TRADE (2023)$130M

In 2023, South Korea exported $131M in Nitric Acids. The main destinations of South Korea exports on Nitric Acids were Japan ($33.7M), Malaysia ($27.3M), China ($18.9M), India ($14.8M), and Thailand ($13.5M).

In 2023, South Korea imported $615k in Nitric Acids, mainly from Japan ($249k), Germany ($175k), United States ($88.1k), Chinese Taipei ($83.6k), and Belgium ($18.4k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Nitric Acids EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
India$4.96M (50.4%)
Singapore$227k (10.1%)
Burma$192k (49%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Nitric Acids BY South Korea WERE (2022 - 2023):
Japan-$16.7M (-33.2%)
Vietnam-$9.39M (-100%)
Malaysia-$6M (-18%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Nitric Acids were:
Belgium $80.9M
Germany $72.8M
In 2023, South Korea's main importing competitors in Nitric Acids were:
Germany $50.8M
France $35.9M
Belgium $35.3M

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Trade Value of Nitric Acids by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $614k
TOP IMPORT POTENTIALGermany+ $76.8k

Nitric Acids’s highest export potential is United States. With an export gap of $614k.   Nitric Acids’s highest import potential is Germany with an import gap of $76.8k.

See methodology.

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