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2022
Exports $8.04BWorld Rnk 7 / 226
Flag Rnk 14 / 96
2022
Destination $315M United States
2021 - 2022
FASTEST GROWING MARKET $315MUnited States
2022
PRODUCT COMPLEXITY IN Rubber & articles thereof0.93Rnk 199 / 1025
2022
Imports $3.09BWorld Rnk 20 / 226
Flag Rnk 27 / 96
2022
Origin $169M Thailand
2021 - 2022
FASTEST GROWING ORIGIN $169MThailand
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $8.04B in Rubber & articles thereof, making it the 7th largest exporter of Rubber & articles thereof in the world. At the same year, Rubber & articles thereof was the 14th most exported product in South Korea. The main destination of Rubber & articles thereof exports from South Korea are: United States ($1.77B), China ($837M), Malaysia ($395M), Vietnam ($357M), and India ($354M).

The fastest growing export markets for Rubber & articles thereof of South Korea between 2021 and 2022 were United States ($315M), Italy ($42.3M), and Netherlands ($31.8M).

Imports In 2022, South Korea imported $3.09B in Rubber & articles thereof, becoming the 20th largest importer of Rubber & articles thereof in the world. At the same year, Rubber & articles thereof was the 27th most imported product in South Korea. South Korea imports Rubber & articles thereof primarily from: Thailand ($727M), China ($660M), Japan ($235M), United States ($193M), and Indonesia ($191M).

The fastest growing import markets in Rubber & articles thereof for South Korea between 2021 and 2022 were Thailand ($169M), China ($35.7M), and Singapore ($19M).

COMPANIES In 2023, leading companies such as Hankook Tires (2.08k), Nexen Tire (965), and General Motors (198) were at the forefront of shipping Rubber & articles thereof from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Rubber & articles thereof exports accounted up to $630M and imports accounted up to $288M, resulting in a positive trade balance of $342M. Between October 2023 and October 2024 the exports of South Korea's   Rubber & articles thereof have increased by $95.9M (18%) from $534M to $630M, while imports increased by $52.2M (22.2%) from $235M to $288M.

Destinations In October 2024, Rubber & articles thereof were exported mostly to United States ($101M), China ($82.8M), Malaysia ($39M), Vietnam ($34.2M), and India ($31.1M), and were imported mostly from Thailand ($68.3M), China ($63M), Indonesia ($23.3M), Japan ($16.8M), and United States ($16M).

Growth In October 2024, the increase in Rubber & articles thereof's year-by-year exports was explained primarily by an increase in exports to Saudi Arabia ($6.32M or 79.3%), United States ($5.16M or 4.34%), and Turkey ($3.98M or 28.2%). In October 2024, the increase in Rubber & articles thereof's year-by-year imports was explained primarily by an increase in imports from China ($4.35M or 8.98%), Japan ($2.63M or 16%), and Portugal ($2.6M or 55.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$95.9M(18%)
IMPORT GROWTH (October 2023 - October 2024)$52.2M(22.2%)
MAIN DESTINATION (October 2024)United States$101M

This section shows Rubber & articles thereof'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 Rubber & articles thereof over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$8.04B
IMPORTS (2022)$3.09B
NET TRADE (2022)$4.95B

In 2022, South Korea exported $8.04B in Rubber & articles thereof. The main destinations of South Korea exports on Rubber & articles thereof were United States ($1.77B), China ($837M), Malaysia ($395M), Vietnam ($357M), and India ($354M).

In 2022, South Korea imported $3.09B in Rubber & articles thereof, mainly from Thailand ($727M), China ($660M), Japan ($235M), United States ($193M), and Indonesia ($191M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Rubber & articles thereof EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$315M (21.7%)
Italy$42.3M (29.1%)
Netherlands$31.8M (16.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Rubber & articles thereof BY South Korea WERE (2021 - 2022):
Malaysia-$696M (-63.8%)
China-$269M (-24.3%)
Russia-$67.4M (-38.9%)
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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 Rubber & articles thereof were:
China $33.5B
Thailand $20.1B
Germany $17.1B
In 2022, South Korea's main importing competitors in Rubber & articles thereof were:
United States $36.1B
China $17.3B
Germany $16.5B

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Trade Value of Rubber & articles thereof by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $364M
TOP IMPORT POTENTIALChina+ $273M

Rubber & articles thereof’s highest export potential is China. With an export gap of $364M.   Rubber & articles thereof’s highest import potential is China with an import gap of $273M.

See methodology.

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