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2022
Exports $8.72MWorld Rnk 33 / 162
Flag Rnk 749 / 1204
2022
Destination $1.56M China
2021 - 2022
FASTEST GROWING MARKET $1.56MThailand
2022
PRODUCT COMPLEXITY IN Precious Stones-1.14Rnk 866 / 1025
2022
Imports $4.67MWorld Rnk 42 / 185
Flag Rnk 1027 / 1213
2022
Origin $273k Thailand
2021 - 2022
FASTEST GROWING ORIGIN $273kSwitzerland
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $8.72M in Precious Stones, making it the 33rd largest exporter of Precious Stones in the world. At the same year, Precious Stones was the 749th most exported product in South Korea. The main destination of Precious Stones exports from South Korea are: China ($5.37M), Thailand ($1.56M), United States ($448k), Malaysia ($393k), and Switzerland ($333k).

The fastest growing export markets for Precious Stones of South Korea between 2021 and 2022 were Thailand ($1.56M), United States ($421k), and Switzerland ($331k).

Imports In 2022, South Korea imported $4.67M in Precious Stones, becoming the 42nd largest importer of Precious Stones in the world. At the same year, Precious Stones was the 1027th most imported product in South Korea. South Korea imports Precious Stones primarily from: Thailand ($1.26M), China ($916k), Hong Kong ($467k), Sri Lanka ($340k), and Russia ($309k).

The fastest growing import markets in Precious Stones for South Korea between 2021 and 2022 were Switzerland ($273k), Russia ($220k), and United States ($189k).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Precious Stones exports accounted up to $1.99M and imports accounted up to $586k, resulting in a positive trade balance of $1.41M. Between October 2023 and October 2024 the exports of South Korea's   Precious Stones have increased by $1.55M (355%) from $438k to $1.99M, while imports increased by $197k (50.6%) from $389k to $586k.

Destinations In October 2024, Precious Stones were exported mostly to Switzerland ($1.39M), China ($531k), Thailand ($47k), Japan ($12k), and United States ($4k), and were imported mostly from China ($331k), Sri Lanka ($117k), Thailand ($65k), India ($27k), and Japan ($16k).

Growth In October 2024, the increase in Precious Stones's year-by-year exports was explained primarily by an increase in exports to China ($231k or 126%). In October 2024, the increase in Precious Stones's year-by-year imports was explained primarily by an increase in imports from China ($64k or 74.4%), Brazil ($31k or 1.55k%), and Japan ($7k or 700%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$1.55M(355%)
IMPORT GROWTH (October 2023 - October 2024)$197k(50.6%)
MAIN DESTINATION (October 2024)Switzerland$1.39M

This section shows Precious Stones'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 Stones over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$8.72M
IMPORTS (2022)$4.67M
NET TRADE (2022)$4.05M

In 2022, South Korea exported $8.72M in Precious Stones. The main destinations of South Korea exports on Precious Stones were China ($5.37M), Thailand ($1.56M), United States ($448k), Malaysia ($393k), and Switzerland ($333k).

In 2022, South Korea imported $4.67M in Precious Stones, mainly from Thailand ($1.26M), China ($916k), Hong Kong ($467k), Sri Lanka ($340k), and Russia ($309k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Precious Stones EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Thailand$1.56M (40.4k%)
United States$421k (1.56k%)
Switzerland$331k (17.2k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Precious Stones BY South Korea WERE (2021 - 2022):
China-$158k (-2.86%)
Singapore-$65.2k (-100%)
Vietnam-$37.3k (-67.2%)
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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 Stones were:
Burma $4.13B
Thailand $1.37B
United States $1.37B
In 2022, South Korea's main importing competitors in Precious Stones were:
China $4.35B
United States $1.68B
Hong Kong $1.32B

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Trade Value of Precious Stones by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $4.57M
TOP IMPORT POTENTIALThailand+ $892k

Precious Stones’s highest export potential is China. With an export gap of $4.57M.   Precious Stones’s highest import potential is Thailand with an import gap of $892k.

See methodology.

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