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2022
Exports $95.2MWorld Rnk 21 / 81
Flag Rnk 382 / 1204
2022
Destination $26M China
2021 - 2022
FASTEST GROWING MARKET $26MChina
2022
PRODUCT COMPLEXITY IN Raw Nickel-0.24Rnk 629 / 1025
2022
Imports $1.05BWorld Rnk 6 / 123
Flag Rnk 100 / 1213
2022
Origin $133M Australia
2021 - 2022
FASTEST GROWING ORIGIN $133MMadagascar
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $95.2M in Raw Nickel, making it the 21st largest exporter of Raw Nickel in the world. At the same year, Raw Nickel was the 382nd most exported product in South Korea. The main destination of Raw Nickel exports from South Korea are: China ($41.5M), India ($13.6M), Vietnam ($12.4M), Netherlands ($10M), and Japan ($9.05M).

The fastest growing export markets for Raw Nickel of South Korea between 2021 and 2022 were China ($26M), Vietnam ($10.8M), and Netherlands ($10M).

Imports In 2022, South Korea imported $1.05B in Raw Nickel, becoming the 6th largest importer of Raw Nickel in the world. At the same year, Raw Nickel was the 100th most imported product in South Korea. South Korea imports Raw Nickel primarily from: Australia ($259M), Canada ($176M), Finland ($165M), Madagascar ($140M), and Norway ($127M).

The fastest growing import markets in Raw Nickel for South Korea between 2021 and 2022 were Madagascar ($133M), China ($84.1M), and Canada ($69.8M).

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Raw Nickel exports accounted up to $1.86M and imports accounted up to $30M, resulting in a negative trade balance of $28.2M. Between September 2023 and September 2024 the exports of South Korea's   Raw Nickel have decreased by $-1.69M (-47.6%) from $3.55M to $1.86M, while imports decreased by $-5.96M (-16.6%) from $36M to $30M.

Destinations In September 2024, Raw Nickel were exported mostly to Vietnam ($522k), Pakistan ($426k), India ($289k), Thailand ($181k), and Japan ($166k), and were imported mostly from Australia ($5.9M), Canada ($5.8M), Madagascar ($4.6M), Norway ($4.19M), and Indonesia ($4.1M).

Growth In September 2024, the decrease in Raw Nickel's year-by-year exports was explained primarily by a decrease in exports to Japan ($-615k or -100%). In September 2024, the decrease in Raw Nickel's year-by-year imports was explained primarily by a decrease in imports from Finland ($-2.55M or -16.8%), Belgium ($-678k or -84.3%), and South Africa ($-607k or -83.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-1.69M(-47.6%)
IMPORT GROWTH (September 2023 - September 2024)$-5.96M(-16.6%)
MAIN DESTINATION (September 2024)Vietnam$522k

This section shows Raw Nickel'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 Nickel over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$95.2M
IMPORTS (2022)$1.05B
NET TRADE (2022)-$957M

In 2022, South Korea exported $95.2M in Raw Nickel. The main destinations of South Korea exports on Raw Nickel were China ($41.5M), India ($13.6M), Vietnam ($12.4M), Netherlands ($10M), and Japan ($9.05M).

In 2022, South Korea imported $1.05B in Raw Nickel, mainly from Australia ($259M), Canada ($176M), Finland ($165M), Madagascar ($140M), and Norway ($127M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Raw Nickel EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
China$26M (167%)
Vietnam$10.8M (673%)
Netherlands$10M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Raw Nickel BY South Korea WERE (2021 - 2022):
Chinese Taipei-$1.54M (-95.1%)
India-$1.49M (-9.83%)
Australia-$1.36M (-100%)
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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 Nickel were:
Australia $3.19B
Canada $2.78B
Russia $2.74B
In 2022, South Korea's main importing competitors in Raw Nickel were:
China $4.04B
United States $2.45B
Netherlands $2.21B

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Trade Value of Raw Nickel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $17.8M
TOP IMPORT POTENTIALSouth Africa+ $12.5M

Raw Nickel’s highest export potential is China. With an export gap of $17.8M.   Raw Nickel’s highest import potential is South Africa with an import gap of $12.5M.

See methodology.

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