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2022
Exports $2.38BWorld Rnk 12 / 217
Flag Rnk 21 / 96
2022
Destination $104M China
2021 - 2022
FASTEST GROWING MARKET $104MPhilippines
2022
PRODUCT COMPLEXITY IN Paints, dyes, & varnishes1.08Rnk 144 / 1025
2022
Imports $2.3BWorld Rnk 14 / 225
Flag Rnk 35 / 96
2022
Origin $33.1M Japan
2021 - 2022
FASTEST GROWING ORIGIN $33.1MUnited States
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $2.38B in Paints, dyes, & varnishes, making it the 12th largest exporter of Paints, dyes, & varnishes in the world. At the same year, Paints, dyes, & varnishes was the 21st most exported product in South Korea. The main destination of Paints, dyes, & varnishes exports from South Korea are: China ($711M), Vietnam ($270M), United States ($162M), Philippines ($129M), and India ($107M).

The fastest growing export markets for Paints, dyes, & varnishes of South Korea between 2021 and 2022 were Philippines ($104M), United States ($22.3M), and Vietnam ($12.2M).

Imports In 2022, South Korea imported $2.3B in Paints, dyes, & varnishes, becoming the 14th largest importer of Paints, dyes, & varnishes in the world. At the same year, Paints, dyes, & varnishes was the 35th most imported product in South Korea. South Korea imports Paints, dyes, & varnishes primarily from: Japan ($676M), China ($530M), United States ($416M), Germany ($143M), and India ($92.5M).

The fastest growing import markets in Paints, dyes, & varnishes for South Korea between 2021 and 2022 were United States ($33.1M), Chinese Taipei ($9.12M), and United Kingdom ($6.27M).

COMPANIES In 2023, leading companies such as LG Electronics (1.01k), Samsung (31), and Tesla (16) were at the forefront of shipping Paints, dyes, & varnishes from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Paints, dyes, & varnishes exports accounted up to $226M and imports accounted up to $216M, resulting in a positive trade balance of $9.62M. Between October 2023 and October 2024 the exports of South Korea's   Paints, dyes, & varnishes have decreased by $-2.16M (-0.95%) from $228M to $226M, while imports increased by $23.7M (12.3%) from $192M to $216M.

Destinations In October 2024, Paints, dyes, & varnishes were exported mostly to China ($87.8M), Vietnam ($24.6M), Philippines ($14.6M), United States ($12.9M), and India ($7.52M), and were imported mostly from Japan ($54.9M), United States ($49.1M), China ($47.3M), Germany ($19.8M), and India ($8.1M).

Growth In October 2024, the decrease in Paints, dyes, & varnishes's year-by-year exports was explained primarily by a decrease in exports to China ($-40M or -40%), United States ($-7.06M or -42.1%), and Vietnam ($-5.96M or -26.8%). In October 2024, the increase in Paints, dyes, & varnishes's year-by-year imports was explained primarily by an increase in imports from United Kingdom ($1.49M or 64%), Singapore ($1.26M or 27.7%), and Canada ($571k or 229%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-2.16M(-0.95%)
IMPORT GROWTH (October 2023 - October 2024)$23.7M(12.3%)
MAIN DESTINATION (October 2024)China$87.8M

This section shows Paints, dyes, & varnishes'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 Paints, dyes, & varnishes over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$2.38B
IMPORTS (2022)$2.3B
NET TRADE (2022)$75.3M

In 2022, South Korea exported $2.38B in Paints, dyes, & varnishes. The main destinations of South Korea exports on Paints, dyes, & varnishes were China ($711M), Vietnam ($270M), United States ($162M), Philippines ($129M), and India ($107M).

In 2022, South Korea imported $2.3B in Paints, dyes, & varnishes, mainly from Japan ($676M), China ($530M), United States ($416M), Germany ($143M), and India ($92.5M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Paints, dyes, & varnishes EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Philippines$104M (405%)
United States$22.3M (16%)
Vietnam$12.2M (4.72%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Paints, dyes, & varnishes BY South Korea WERE (2021 - 2022):
China-$654M (-47.9%)
Pakistan-$21.7M (-24.6%)
Chinese Taipei-$16M (-19.7%)
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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 Paints, dyes, & varnishes were:
Germany $13B
China $11.5B
United States $8.63B
In 2022, South Korea's main importing competitors in Paints, dyes, & varnishes were:
United States $5.95B
Germany $5.41B
China $4.84B

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Trade Value of Paints, dyes, & varnishes by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $56.5M
TOP IMPORT POTENTIALChina+ $114M

Paints, dyes, & varnishes’s highest export potential is United States. With an export gap of $56.5M.   Paints, dyes, & varnishes’s highest import potential is China with an import gap of $114M.

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