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2022
Exports $114MWorld Rnk 15 / 121
Flag Rnk 358 / 1204
2022
Destination $15.3M United States
2021 - 2022
FASTEST GROWING MARKET $15.3MChina
2022
PRODUCT COMPLEXITY IN Other Precious Metal Products-0.036Rnk 559 / 1025
2022
Imports $337MWorld Rnk 4 / 189
Flag Rnk 252 / 1213
2022
Origin $220M United States
2021 - 2022
FASTEST GROWING ORIGIN $220MUnited States
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $114M in Other Precious Metal Products, making it the 15th largest exporter of Other Precious Metal Products in the world. At the same year, Other Precious Metal Products was the 358th most exported product in South Korea. The main destination of Other Precious Metal Products exports from South Korea are: United States ($61.4M), Japan ($17.2M), China ($16.3M), Canada ($9.07M), and Thailand ($2.75M).

The fastest growing export markets for Other Precious Metal Products of South Korea between 2021 and 2022 were China ($15.3M), Canada ($9.07M), and Japan ($2.5M).

Imports In 2022, South Korea imported $337M in Other Precious Metal Products, becoming the 4th largest importer of Other Precious Metal Products in the world. At the same year, Other Precious Metal Products was the 252nd most imported product in South Korea. South Korea imports Other Precious Metal Products primarily from: United States ($253M), Japan ($30.4M), United Kingdom ($20.8M), Germany ($10.9M), and Australia ($10.4M).

The fastest growing import markets in Other Precious Metal Products for South Korea between 2021 and 2022 were United States ($220M), Singapore ($1.73M), and Japan ($685k).

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Other Precious Metal Products exports accounted up to $237k and imports accounted up to $4.09M, resulting in a negative trade balance of $3.86M. Between September 2023 and September 2024 the exports of South Korea's   Other Precious Metal Products have decreased by $-1.96M (-89.2%) from $2.19M to $237k, while imports increased by $1.7M (70.8%) from $2.4M to $4.09M.

Destinations In September 2024, Other Precious Metal Products were exported mostly to China ($109k), Thailand ($59k), Vietnam ($33k), Malaysia ($21k), and United Kingdom ($9k), and were imported mostly from Japan ($1.52M), Singapore ($1.1M), United Kingdom ($783k), Germany ($410k), and China ($91k).

Growth In September 2024, the decrease in Other Precious Metal Products's year-by-year exports was explained primarily by a decrease in exports to Malaysia ($-50k or -59.5%) and Switzerland ($-2k or -100%). In September 2024, the increase in Other Precious Metal Products's year-by-year imports was explained primarily by an increase in imports from China ($154k or 127%), Japan ($30k or 5.98%), and Switzerland ($12k or 100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-1.96M(-89.2%)
IMPORT GROWTH (September 2023 - September 2024)$1.7M(70.8%)
MAIN DESTINATION (September 2024)China$109k

This section shows Other Precious Metal Products'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 Other Precious Metal Products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$114M
IMPORTS (2022)$337M
NET TRADE (2022)-$223M

In 2022, South Korea exported $114M in Other Precious Metal Products. The main destinations of South Korea exports on Other Precious Metal Products were United States ($61.4M), Japan ($17.2M), China ($16.3M), Canada ($9.07M), and Thailand ($2.75M).

In 2022, South Korea imported $337M in Other Precious Metal Products, mainly from United States ($253M), Japan ($30.4M), United Kingdom ($20.8M), Germany ($10.9M), and Australia ($10.4M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Other Precious Metal Products EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
China$15.3M (1.55k%)
Canada$9.07M (753k%)
Japan$2.5M (17%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Other Precious Metal Products BY South Korea WERE (2021 - 2022):
United States-$28.6M (-31.8%)
Chinese Taipei-$7.74M (-75.7%)
Philippines-$2.55M (-80.1%)
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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 Other Precious Metal Products were:
Canada $1.78B
United States $1.7B
Germany $911M
In 2022, South Korea's main importing competitors in Other Precious Metal Products were:
United States $4.42B
Singapore $789M
Canada $579M

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Trade Value of Other Precious Metal Products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $5.95M
TOP IMPORT POTENTIALAustralia+ $5.69M

Other Precious Metal Products’s highest export potential is United States. With an export gap of $5.95M.   Other Precious Metal Products’s highest import potential is Australia with an import gap of $5.69M.

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