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2022
Exports $154MWorld Rnk 1 / 104
Flag Rnk 317 / 1204
2022
Destination $10.8M Japan
2021 - 2022
FASTEST GROWING MARKET $10.8MJapan
2022
Imports $1.04MWorld Rnk 59 / 185
Flag Rnk 1133 / 1213
2022
Origin $34.6k Japan
2021 - 2022
FASTEST GROWING ORIGIN $34.6kJapan
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $154M in Nitric Acids, making it the 1st largest exporter of Nitric Acids in the world. At the same year, Nitric Acids was the 317th most exported product in South Korea. The main destination of Nitric Acids exports from South Korea are: Japan ($45M), Malaysia ($30.3M), China ($16.5M), Thailand ($14.4M), and India ($9.84M).

The fastest growing export markets for Nitric Acids of South Korea between 2021 and 2022 were Japan ($10.8M), Malaysia ($8.55M), and Thailand ($3.36M).

Imports In 2022, South Korea imported $1.04M in Nitric Acids, becoming the 59th largest importer of Nitric Acids in the world. At the same year, Nitric Acids was the 1133rd most imported product in South Korea. South Korea imports Nitric Acids primarily from: Japan ($369k), Germany ($151k), Canada ($147k), Chinese Taipei ($144k), and United States ($136k).

The fastest growing import markets in Nitric Acids for South Korea between 2021 and 2022 were Japan ($34.6k), United States ($32k), and China ($22.5k).

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Nitric Acids exports accounted up to $7.47M and imports accounted up to $86k, resulting in a positive trade balance of $7.38M. Between September 2023 and September 2024 the exports of South Korea's   Nitric Acids have increased by $604k (8.8%) from $6.86M to $7.47M, while imports increased by $44k (105%) from $42k to $86k.

Destinations In September 2024, Nitric Acids were exported mostly to Japan ($2.42M), China ($1.33M), Malaysia ($854k), Thailand ($723k), and Vietnam ($706k), and were imported mostly from Japan ($32k), Chinese Taipei ($23k), United States ($23k), Germany ($6k), and Czechia ($2k).

Growth In September 2024, the increase in Nitric Acids's year-by-year exports was explained primarily by an increase in exports to Thailand ($1.27M or 508%), Japan ($1.12M or 34.5%), and United States ($79k or 272%). In September 2024, the increase in Nitric Acids's year-by-year imports was explained primarily by an increase in imports from Germany ($5k or 50%) and United States ($4k or 100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$604k(8.8%)
IMPORT GROWTH (September 2023 - September 2024)$44k(105%)
MAIN DESTINATION (September 2024)Japan$2.42M

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 (2022)$154M
IMPORTS (2022)$1.04M
NET TRADE (2022)$153M

In 2022, South Korea exported $154M in Nitric Acids. The main destinations of South Korea exports on Nitric Acids were Japan ($45M), Malaysia ($30.3M), China ($16.5M), Thailand ($14.4M), and India ($9.84M).

In 2022, South Korea imported $1.04M in Nitric Acids, mainly from Japan ($369k), Germany ($151k), Canada ($147k), Chinese Taipei ($144k), and United States ($136k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Nitric Acids EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Japan$10.8M (31.6%)
Malaysia$8.55M (39.3%)
Thailand$3.36M (30.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Nitric Acids BY South Korea WERE (2021 - 2022):
Singapore-$287k (-14.8%)
Burma-$189k (-31.8%)
Ethiopia-$72k (-71.4%)
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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 Nitric Acids were:
Belgium $142M
Germany $100M
In 2022, South Korea's main importing competitors in Nitric Acids were:
Germany $83.3M
France $64.3M
Japan $47.6M

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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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