2022
Exports
$21.8MWorld Rnk 12 / 80
Flag Rnk 635 / 1204
2022
PRODUCT COMPLEXITY IN Rare-Earth Metal Compounds
0.68Rnk 287 / 1025
2022
Imports
$92.4MWorld Rnk 6 / 144
Flag Rnk 528 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $21.8M in Rare-Earth Metal Compounds, making it the 12th largest exporter of Rare-Earth Metal Compounds in the world. At the same year, Rare-Earth Metal Compounds was the 635th most exported product in South Korea. The main destination of Rare-Earth Metal Compounds exports from South Korea are: China ($10.4M), Norway ($3.58M), United States ($2.09M), Switzerland ($1.08M), and Turkey ($889k).

The fastest growing export markets for Rare-Earth Metal Compounds of South Korea between 2021 and 2022 were Norway ($3.55M), Turkey ($607k), and Switzerland ($360k).

Imports In 2022, South Korea imported $92.4M in Rare-Earth Metal Compounds, becoming the 6th largest importer of Rare-Earth Metal Compounds in the world. At the same year, Rare-Earth Metal Compounds was the 528th most imported product in South Korea. South Korea imports Rare-Earth Metal Compounds primarily from: China ($41M), Japan ($32.9M), France ($8.83M), Chinese Taipei ($4.21M), and United States ($2.99M).

The fastest growing import markets in Rare-Earth Metal Compounds for South Korea between 2021 and 2022 were Japan ($4.2M), France ($1.45M), and Chinese Taipei ($1.13M).

Latest Trends

July 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$4.27M(312%)
IMPORT GROWTH (July 2023 - July 2024)$260k(5.75%)
MAIN DESTINATION (July 2024)Norway$4.32M

This section shows Rare-Earth Metal Compounds'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 Rare-Earth Metal Compounds over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$21.8M
IMPORTS (2022)$92.4M
NET TRADE (2022)-$70.6M

In 2022, South Korea exported $21.8M in Rare-Earth Metal Compounds. The main destinations of South Korea exports on Rare-Earth Metal Compounds were China ($10.4M), Norway ($3.58M), United States ($2.09M), Switzerland ($1.08M), and Turkey ($889k).

In 2022, South Korea imported $92.4M in Rare-Earth Metal Compounds, mainly from China ($41M), Japan ($32.9M), France ($8.83M), Chinese Taipei ($4.21M), and United States ($2.99M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Rare-Earth Metal Compounds EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Norway$3.55M (12.2k%)
Turkey$607k (216%)
Switzerland$360k (49.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Rare-Earth Metal Compounds BY South Korea WERE (2021 - 2022):
China-$4.62M (-30.8%)
India-$2.42M (-79.8%)
Philippines-$1.77M (-83.3%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Rare-Earth Metal Compounds were:
In 2022, South Korea's main importing competitors in Rare-Earth Metal Compounds were:
China $1.48B
Japan $488M

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Trade Value of Rare-Earth Metal Compounds by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $5.25M
TOP IMPORT POTENTIALChina+ $3.64M

Rare-Earth Metal Compounds’s highest export potential is China. With an export gap of $5.25M.   Rare-Earth Metal Compounds’s highest import potential is China with an import gap of $3.64M.

See methodology.

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