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2022
Exports $27.3MWorld Rnk 21 / 92
Flag Rnk 593 / 1204
2022
Destination $937k Vietnam
2021 - 2022
FASTEST GROWING MARKET $937kThailand
2022
PRODUCT COMPLEXITY IN Pig Iron-1.18Rnk 876 / 1025
2022
Imports $111MWorld Rnk 10 / 141
Flag Rnk 489 / 1213
2022
Origin $13.2M Russia
2021 - 2022
FASTEST GROWING ORIGIN $13.2MRussia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $27.3M in Pig Iron, making it the 21st largest exporter of Pig Iron in the world. At the same year, Pig Iron was the 593rd most exported product in South Korea. The main destination of Pig Iron exports from South Korea are: Vietnam ($25.5M), Thailand ($1.23M), Indonesia ($377k), United Arab Emirates ($89.8k), and Costa Rica ($53k).

The fastest growing export markets for Pig Iron of South Korea between 2021 and 2022 were Thailand ($937k), Vietnam ($476k), and Indonesia ($200k).

Imports In 2022, South Korea imported $111M in Pig Iron, becoming the 10th largest importer of Pig Iron in the world. At the same year, Pig Iron was the 489th most imported product in South Korea. South Korea imports Pig Iron primarily from: Russia ($55.6M), India ($26.6M), Japan ($16.8M), South Africa ($5.37M), and Vietnam ($3.3M).

The fastest growing import markets in Pig Iron for South Korea between 2021 and 2022 were Russia ($13.2M), Japan ($6.22M), and Vietnam ($3.3M).

Latest Trends

August 2024

About

Overview In August 2024 South Korea's Pig Iron exports accounted up to $40k and imports accounted up to $9.71M, resulting in a negative trade balance of $9.67M. Between August 2023 and August 2024 the exports of South Korea's   Pig Iron have decreased by $-2.65M (-98.5%) from $2.69M to $40k, while imports decreased by $-4.41M (-31.2%) from $14.1M to $9.71M.

Destinations In August 2024, Pig Iron were exported mostly to Vietnam ($39k), Japan ($1k), South Africa ($0), China ($0), and Norway ($0), and were imported mostly from Japan ($5.1M), Vietnam ($2.24M), Russia ($1.23M), South Africa ($651k), and Norway ($316k).

Growth In August 2024, the decrease in Pig Iron's year-by-year exports was explained primarily by a decrease in exports to Japan ($-6k or -100%). In August 2024, the decrease in Pig Iron's year-by-year imports was explained primarily by a decrease in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-2.65M(-98.5%)
IMPORT GROWTH (August 2023 - August 2024)$-4.41M(-31.2%)
MAIN DESTINATION (August 2024)Vietnam$39k

This section shows Pig Iron'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 Pig Iron over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$27.3M
IMPORTS (2022)$111M
NET TRADE (2022)-$83.8M

In 2022, South Korea exported $27.3M in Pig Iron. The main destinations of South Korea exports on Pig Iron were Vietnam ($25.5M), Thailand ($1.23M), Indonesia ($377k), United Arab Emirates ($89.8k), and Costa Rica ($53k).

In 2022, South Korea imported $111M in Pig Iron, mainly from Russia ($55.6M), India ($26.6M), Japan ($16.8M), South Africa ($5.37M), and Vietnam ($3.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Pig Iron EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Thailand$937k (324%)
Vietnam$476k (1.91%)
Indonesia$200k (113%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pig Iron BY South Korea WERE (2021 - 2022):
Japan-$226k (-89.8%)
Zambia-$132k (-100%)
Saudi Arabia-$60.9k (-100%)
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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 Pig Iron were:
Brazil $2.3B
Russia $1.78B
Ukraine $668M
In 2022, South Korea's main importing competitors in Pig Iron were:
United States $2.87B
Italy $705M
Turkey $666M

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Trade Value of Pig Iron by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndonesia+ $239k
TOP IMPORT POTENTIALSouth Africa+ $2.29M

Pig Iron’s highest export potential is Indonesia. With an export gap of $239k.   Pig Iron’s highest import potential is South Africa with an import gap of $2.29M.

See methodology.

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