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2022
Exports $145MWorld Rnk 29 / 177
Flag Rnk 325 / 1204
2022
Destination $22.3M United Kingdom
2021 - 2022
FASTEST GROWING MARKET $22.3MUnited Kingdom
2022
PRODUCT COMPLEXITY IN Precious Metal Scraps-0.68Rnk 752 / 1025
2022
Imports $572MWorld Rnk 13 / 118
Flag Rnk 174 / 1213
2022
Origin $89.7M Australia
2021 - 2022
FASTEST GROWING ORIGIN $89.7MAustralia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $145M in Precious Metal Scraps, making it the 29th largest exporter of Precious Metal Scraps in the world. At the same year, Precious Metal Scraps was the 325th most exported product in South Korea. The main destination of Precious Metal Scraps exports from South Korea are: United Kingdom ($52.3M), Japan ($49.7M), Germany ($19.2M), Italy ($11.5M), and Singapore ($2.97M).

The fastest growing export markets for Precious Metal Scraps of South Korea between 2021 and 2022 were United Kingdom ($22.3M), Singapore ($2.59M), and Hong Kong ($2.46M).

Imports In 2022, South Korea imported $572M in Precious Metal Scraps, becoming the 13th largest importer of Precious Metal Scraps in the world. At the same year, Precious Metal Scraps was the 174th most imported product in South Korea. South Korea imports Precious Metal Scraps primarily from: Australia ($132M), Poland ($132M), United Arab Emirates ($89M), India ($49.9M), and Indonesia ($49.3M).

The fastest growing import markets in Precious Metal Scraps for South Korea between 2021 and 2022 were Australia ($89.7M), United Arab Emirates ($72.1M), and Indonesia ($49.2M).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Precious Metal Scraps exports accounted up to $15.7M and imports accounted up to $138M, resulting in a negative trade balance of $122M. Between October 2023 and October 2024 the exports of South Korea's   Precious Metal Scraps have decreased by $-7.77M (-33.1%) from $23.5M to $15.7M, while imports increased by $87.1M (171%) from $51M to $138M.

Destinations In October 2024, Precious Metal Scraps were exported mostly to Japan ($7.27M), Singapore ($5.18M), Germany ($3.06M), United Arab Emirates ($113k), and United States ($80k), and were imported mostly from Australia ($97.7M), Spain ($9.57M), Poland ($6.16M), United Arab Emirates ($5.12M), and Japan ($4.86M).

Growth In October 2024, the decrease in Precious Metal Scraps's year-by-year exports was explained primarily by a decrease in exports to Germany ($-6.14M or -73.2%), Japan ($-3.42M or -41.6%), and Singapore ($-2.01M or -13.6%). In October 2024, the increase in Precious Metal Scraps's year-by-year imports was explained primarily by an increase in imports from China ($47.1M or 2.46k%), Spain ($9.72M or 90.7%), and United Arab Emirates ($9.41M or 1.28k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-7.77M(-33.1%)
IMPORT GROWTH (October 2023 - October 2024)$87.1M(171%)
MAIN DESTINATION (October 2024)Japan$7.27M

This section shows Precious Metal Scraps'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 Precious Metal Scraps over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$145M
IMPORTS (2022)$572M
NET TRADE (2022)-$427M

In 2022, South Korea exported $145M in Precious Metal Scraps. The main destinations of South Korea exports on Precious Metal Scraps were United Kingdom ($52.3M), Japan ($49.7M), Germany ($19.2M), Italy ($11.5M), and Singapore ($2.97M).

In 2022, South Korea imported $572M in Precious Metal Scraps, mainly from Australia ($132M), Poland ($132M), United Arab Emirates ($89M), India ($49.9M), and Indonesia ($49.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Precious Metal Scraps EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United Kingdom$22.3M (74.2%)
Singapore$2.59M (690%)
Hong Kong$2.46M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Precious Metal Scraps BY South Korea WERE (2021 - 2022):
Germany-$45.5M (-70.3%)
Japan-$36.7M (-42.5%)
Italy-$6.05M (-34.4%)
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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 Precious Metal Scraps were:
United States $5.75B
Indonesia $2.6B
United Kingdom $1.45B
In 2022, South Korea's main importing competitors in Precious Metal Scraps were:
Germany $3.7B
Canada $3.02B
Japan $2.87B

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Trade Value of Precious Metal Scraps by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $15.6M
TOP IMPORT POTENTIALIndonesia+ $31.4M

Precious Metal Scraps’s highest export potential is Japan. With an export gap of $15.6M.   Precious Metal Scraps’s highest import potential is Indonesia with an import gap of $31.4M.

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