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2022
Exports $25.4BWorld Rnk 6 / 214
Flag Rnk 7 / 96
2022
Destination $785M China
2021 - 2022
FASTEST GROWING MARKET $785MUnited States
2022
PRODUCT COMPLEXITY IN Organic chemicals1.95Rnk 8 / 1025
2022
Imports $15.7BWorld Rnk 11 / 225
Flag Rnk 8 / 96
2022
Origin $602M China
2021 - 2022
FASTEST GROWING ORIGIN $602MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $25.4B in Organic chemicals, making it the 6th largest exporter of Organic chemicals in the world. At the same year, Organic chemicals was the 7th most exported product in South Korea. The main destination of Organic chemicals exports from South Korea are: China ($11.3B), United States ($2.23B), Chinese Taipei ($1.91B), Japan ($1.59B), and India ($1.09B).

The fastest growing export markets for Organic chemicals of South Korea between 2021 and 2022 were United States ($785M), Japan ($234M), and Lithuania ($152M).

Imports In 2022, South Korea imported $15.7B in Organic chemicals, becoming the 11th largest importer of Organic chemicals in the world. At the same year, Organic chemicals was the 8th most imported product in South Korea. South Korea imports Organic chemicals primarily from: China ($6.11B), Japan ($2.54B), United States ($1.9B), Germany ($814M), and Chinese Taipei ($743M).

The fastest growing import markets in Organic chemicals for South Korea between 2021 and 2022 were China ($602M), Trinidad and Tobago ($85.9M), and India ($80.8M).

COMPANIES In 2023, leading companies such as LG Electronics (3.05k), Samsung (439), and Nexen Tire (178) were at the forefront of shipping Organic chemicals from South Korea to the United States.

Latest Trends

August 2024

About

Overview In August 2024 South Korea's Organic chemicals exports accounted up to $1.95B and imports accounted up to $1.17B, resulting in a positive trade balance of $778M. Between August 2023 and August 2024 the exports of South Korea's   Organic chemicals have increased by $211M (12.1%) from $1.74B to $1.95B, while imports increased by $96.9M (9.01%) from $1.08B to $1.17B.

Destinations In August 2024, Organic chemicals were exported mostly to China ($979M), Chinese Taipei ($160M), United States ($144M), Japan ($132M), and India ($99.6M), and were imported mostly from China ($460M), Japan ($156M), United States ($126M), Chinese Taipei ($86.8M), and Germany ($56.9M).

Growth In August 2024, the increase in Organic chemicals's year-by-year exports was explained primarily by an increase in exports to India ($31M or 39%), Italy ($9.64M or 88.7%), and Malaysia ($9.39M or 91.6%). In August 2024, the increase in Organic chemicals's year-by-year imports was explained primarily by an increase in imports from India ($13M or 23.9%), Trinidad and Tobago ($5.09M or 37.1%), and New Zealand ($2.71M or 210%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$211M(12.1%)
IMPORT GROWTH (August 2023 - August 2024)$96.9M(9.01%)
MAIN DESTINATION (August 2024)China$979M

This section shows Organic chemicals'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 Organic chemicals over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$25.4B
IMPORTS (2022)$15.7B
NET TRADE (2022)$9.63B

In 2022, South Korea exported $25.4B in Organic chemicals. The main destinations of South Korea exports on Organic chemicals were China ($11.3B), United States ($2.23B), Chinese Taipei ($1.91B), Japan ($1.59B), and India ($1.09B).

In 2022, South Korea imported $15.7B in Organic chemicals, mainly from China ($6.11B), Japan ($2.54B), United States ($1.9B), Germany ($814M), and Chinese Taipei ($743M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Organic chemicals EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$785M (54.5%)
Japan$234M (17.3%)
Lithuania$152M (110%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Organic chemicals BY South Korea WERE (2021 - 2022):
China-$337M (-2.9%)
Chinese Taipei-$136M (-6.66%)
India-$104M (-8.73%)
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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 Organic chemicals were:
China $110B
United States $51.7B
Ireland $45.7B
In 2022, South Korea's main importing competitors in Organic chemicals were:
United States $68.6B
China $51.6B
Germany $47.2B

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Trade Value of Organic chemicals by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $381M
TOP IMPORT POTENTIALChina+ $576M

Organic chemicals’s highest export potential is India. With an export gap of $381M.   Organic chemicals’s highest import potential is China with an import gap of $576M.

See methodology.

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