2022
Exports
$1.58BWorld Rnk 12 / 220
Flag Rnk 71 / 1204
2022
PRODUCT COMPLEXITY IN Plastic Lids
-0.17Rnk 606 / 1025
2022
Imports
$988MWorld Rnk 16 / 225
Flag Rnk 110 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $1.58B in Plastic Lids, making it the 12th largest exporter of Plastic Lids in the world. At the same year, Plastic Lids was the 71st most exported product in South Korea. The main destination of Plastic Lids exports from South Korea are: United States ($412M), China ($375M), Japan ($171M), Vietnam ($121M), and Mexico ($41.9M).

The fastest growing export markets for Plastic Lids of South Korea between 2021 and 2022 were United States ($24M), Vietnam ($7.78M), and Costa Rica ($7.74M).

Imports In 2022, South Korea imported $988M in Plastic Lids, becoming the 16th largest importer of Plastic Lids in the world. At the same year, Plastic Lids was the 110th most imported product in South Korea. South Korea imports Plastic Lids primarily from: China ($576M), United States ($101M), Vietnam ($71.3M), Japan ($59.9M), and Chinese Taipei ($24.9M).

The fastest growing import markets in Plastic Lids for South Korea between 2021 and 2022 were China ($34.6M), United States ($18.4M), and Vietnam ($12.9M).

COMPANIES In 2023, leading companies such as Samsung (77), CJ Foods (6), and LG Electronics (5) were at the forefront of shipping Plastic Lids from South Korea to the United States.

Latest Trends

July 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$19.9M(15.8%)
IMPORT GROWTH (July 2023 - July 2024)$15.2M(16%)
MAIN DESTINATION (July 2024)United States$35.5M

This section shows Plastic Lids'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 Plastic Lids over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.58B
IMPORTS (2022)$988M
NET TRADE (2022)$590M

In 2022, South Korea exported $1.58B in Plastic Lids. The main destinations of South Korea exports on Plastic Lids were United States ($412M), China ($375M), Japan ($171M), Vietnam ($121M), and Mexico ($41.9M).

In 2022, South Korea imported $988M in Plastic Lids, mainly from China ($576M), United States ($101M), Vietnam ($71.3M), Japan ($59.9M), and Chinese Taipei ($24.9M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Plastic Lids EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$24M (6.19%)
Vietnam$7.78M (6.89%)
Costa Rica$7.74M (334%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Plastic Lids BY South Korea WERE (2021 - 2022):
China-$49.2M (-11.6%)
Japan-$12.1M (-6.61%)
Hungary-$8.62M (-30.2%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Plastic Lids were:
In 2022, South Korea's main importing competitors in Plastic Lids were:

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Trade Value of Plastic Lids by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $30.6M
TOP IMPORT POTENTIALChina+ $81.3M

Plastic Lids’s highest export potential is United States. With an export gap of $30.6M.   Plastic Lids’s highest import potential is China with an import gap of $81.3M.

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