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2022
Exports $973MWorld Rnk 20 / 152
Flag Rnk 103 / 1204
2022
Destination $40.7M China
2021 - 2022
FASTEST GROWING MARKET $40.7MItaly
2022
PRODUCT COMPLEXITY IN Raw Aluminium-1.12Rnk 859 / 1025
2022
Imports $4.31BWorld Rnk 8 / 187
Flag Rnk 17 / 1213
2022
Origin $215M India
2021 - 2022
FASTEST GROWING ORIGIN $215MAustralia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $973M in Raw Aluminium, making it the 20th largest exporter of Raw Aluminium in the world. At the same year, Raw Aluminium was the 103rd most exported product in South Korea. The main destination of Raw Aluminium exports from South Korea are: China ($291M), Vietnam ($196M), United States ($80.8M), Italy ($75.4M), and Spain ($66.6M).

The fastest growing export markets for Raw Aluminium of South Korea between 2021 and 2022 were Italy ($40.7M), United States ($24.6M), and Montenegro ($22.5M).

Imports In 2022, South Korea imported $4.31B in Raw Aluminium, becoming the 8th largest importer of Raw Aluminium in the world. At the same year, Raw Aluminium was the 17th most imported product in South Korea. South Korea imports Raw Aluminium primarily from: India ($1.34B), Australia ($769M), Malaysia ($449M), Russia ($380M), and United Arab Emirates ($330M).

The fastest growing import markets in Raw Aluminium for South Korea between 2021 and 2022 were Australia ($215M), Malaysia ($140M), and China ($124M).

COMPANIES In 2023, leading companies such as Hankook Tires (3) and ZF Friedrichshafen (1) were at the forefront of shipping Raw Aluminium from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Raw Aluminium exports accounted up to $70.4M and imports accounted up to $368M, resulting in a negative trade balance of $298M. Between October 2023 and October 2024 the exports of South Korea's   Raw Aluminium have increased by $17.5M (32.9%) from $53M to $70.4M, while imports increased by $80.8M (28.1%) from $287M to $368M.

Destinations In October 2024, Raw Aluminium were exported mostly to China ($22.5M), Vietnam ($17.1M), Japan ($7.12M), Mexico ($6.12M), and India ($4.25M), and were imported mostly from Russia ($95.5M), Australia ($91.6M), India ($53.6M), Malaysia ($29.9M), and Qatar ($25.9M).

Growth In October 2024, the increase in Raw Aluminium's year-by-year exports was explained primarily by an increase in exports to Japan ($1.4M or 99.3%), Thailand ($985k or 210%), and Indonesia ($62k or 1.51%). In October 2024, the increase in Raw Aluminium's year-by-year imports was explained primarily by an increase in imports from Australia ($21.1M or 33.5%), China ($13.9M or 945%), and Qatar ($12.7M or 64.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$17.5M(32.9%)
IMPORT GROWTH (October 2023 - October 2024)$80.8M(28.1%)
MAIN DESTINATION (October 2024)China$22.5M

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 (2022)$973M
IMPORTS (2022)$4.31B
NET TRADE (2022)-$3.34B

In 2022, South Korea exported $973M in Raw Aluminium. The main destinations of South Korea exports on Raw Aluminium were China ($291M), Vietnam ($196M), United States ($80.8M), Italy ($75.4M), and Spain ($66.6M).

In 2022, South Korea imported $4.31B in Raw Aluminium, mainly from India ($1.34B), Australia ($769M), Malaysia ($449M), Russia ($380M), and United Arab Emirates ($330M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Raw Aluminium EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Italy$40.7M (117%)
United States$24.6M (43.8%)
Montenegro$22.5M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Raw Aluminium BY South Korea WERE (2021 - 2022):
Vietnam-$53.2M (-21.3%)
China-$33.3M (-10.3%)
Japan-$13.9M (-29.3%)
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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 Raw Aluminium were:
Canada $9.37B
India $8.44B
Russia $8.16B
In 2022, South Korea's main importing competitors in Raw Aluminium were:
United States $15B
Germany $8.08B
Japan $6.62B

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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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