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2023
Exports $470MWorld Rnk 31 / 156
Flag Rnk 154 / 1188
2023
Destination $24.8M China
2022 - 2023
FASTEST GROWING MARKET $24.8MMalaysia
2023
PRODUCT COMPLEXITY IN Raw Aluminium-1.28Rnk 895 / 1025
2023
Imports $3.23BWorld Rnk 8 / 186
Flag Rnk 22 / 1208
2023
Origin $499M Australia
2022 - 2023
FASTEST GROWING ORIGIN $499MAustralia
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $470M in Raw Aluminium, making it the 31st largest exporter of Raw Aluminium in the world. At the same year, Raw Aluminium was the 154th most exported product in South Korea. The main destination of Raw Aluminium exports from South Korea are: China ($169M), United States ($49.9M), Italy ($39.1M), Japan ($36.3M), and Malaysia ($30.3M).

The fastest growing export markets for Raw Aluminium of South Korea between 2022 and 2023 were Malaysia ($24.8M), Colombia ($4.3M), and Qatar ($3.15M).

Imports In 2023, South Korea imported $3.23B in Raw Aluminium, becoming the 8th largest importer of Raw Aluminium in the world. At the same year, Raw Aluminium was the 22nd most imported product in South Korea. South Korea imports Raw Aluminium primarily from: Australia ($1.14B), India ($797M), Malaysia ($316M), China ($279M), and New Zealand ($243M).

The fastest growing import markets in Raw Aluminium for South Korea between 2022 and 2023 were Australia ($499M), China ($186M), and New Zealand ($16.6M).

COMPANIES In 2024, leading companies such as ZF Friedrichshafen (1) were at the forefront of shipping Raw Aluminium from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Raw Aluminium exports accounted up to $68.9M and imports accounted up to $322M, resulting in a negative trade balance of $253M. Between December 2023 and December 2024 the exports of South Korea's   Raw Aluminium have increased by $25.1M (57.2%) from $43.8M to $68.9M, while imports increased by $34.5M (12%) from $288M to $322M.

Destinations In December 2024, Raw Aluminium were exported mostly to Vietnam ($21.2M), China ($18.6M), Mexico ($6.38M), India ($5.86M), and Italy ($3.8M), and were imported mostly from Russia ($82.2M), Australia ($64M), India ($58.5M), Malaysia ($27.7M), and United Arab Emirates ($21.5M).

Growth In December 2024, the increase in Raw Aluminium's year-by-year exports was explained primarily by an increase in exports to China ($7.94M or 82.3%), Vietnam ($4.5M or 40.3%), and Mexico ($3.61M or 271%). In December 2024, the increase in Raw Aluminium's year-by-year imports was explained primarily by an increase in imports from Australia ($14.3M or 17%), Russia ($12.7M or 25.6%), and Saudi Arabia ($9.98M or 103%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$25.1M(57.2%)
IMPORT GROWTH (December 2023 - December 2024)$34.5M(12%)
MAIN DESTINATION (December 2024)Vietnam$21.2M

This section shows Raw Aluminium'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 Raw Aluminium over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$470M
IMPORTS (2023)$3.23B
NET TRADE (2023)-$2.76B

In 2023, South Korea exported $470M in Raw Aluminium. The main destinations of South Korea exports on Raw Aluminium were China ($169M), United States ($49.9M), Italy ($39.1M), Japan ($36.3M), and Malaysia ($30.3M).

In 2023, South Korea imported $3.23B in Raw Aluminium, mainly from Australia ($1.14B), India ($797M), Malaysia ($316M), China ($279M), and New Zealand ($243M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Raw Aluminium EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Malaysia$24.8M (450%)
Colombia$4.3M (1.02k%)
Qatar$3.15M (184%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Raw Aluminium BY South Korea WERE (2022 - 2023):
Vietnam-$191M (-100%)
China-$128M (-43.1%)
Spain-$60.6M (-76.2%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Raw Aluminium were:
Canada $8.04B
Russia $6.95B
United Arab Emirates $6.61B
In 2023, South Korea's main importing competitors in Raw Aluminium were:
United States $11.9B
Germany $6.45B
China $6.01B

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Trade Value of Raw Aluminium by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $51.4M
TOP IMPORT POTENTIALUnited Arab Emirates+ $112M

Raw Aluminium’s highest export potential is China. With an export gap of $51.4M.   Raw Aluminium’s highest import potential is United Arab Emirates with an import gap of $112M.

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