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2022
Exports $64.6MWorld Rnk 23 / 202
Flag Rnk 444 / 1204
2022
Destination $3.72M United Arab Emirates
2021 - 2022
FASTEST GROWING MARKET $3.72MUnited States
2022
PRODUCT COMPLEXITY IN Rubber Belting0.48Rnk 373 / 1025
2022
Imports $111MWorld Rnk 18 / 224
Flag Rnk 490 / 1213
2022
Origin $2.23M China
2021 - 2022
FASTEST GROWING ORIGIN $2.23MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $64.6M in Rubber Belting, making it the 23rd largest exporter of Rubber Belting in the world. At the same year, Rubber Belting was the 444th most exported product in South Korea. The main destination of Rubber Belting exports from South Korea are: United Arab Emirates ($9.37M), United States ($8.85M), Russia ($4.57M), India ($4.04M), and China ($3.05M).

The fastest growing export markets for Rubber Belting of South Korea between 2021 and 2022 were United States ($3.72M), United Arab Emirates ($3.16M), and India ($1.94M).

Imports In 2022, South Korea imported $111M in Rubber Belting, becoming the 18th largest importer of Rubber Belting in the world. At the same year, Rubber Belting was the 490th most imported product in South Korea. South Korea imports Rubber Belting primarily from: China ($49.2M), Vietnam ($22.1M), Japan ($15.1M), Germany ($5.15M), and Romania ($3.65M).

The fastest growing import markets in Rubber Belting for South Korea between 2021 and 2022 were China ($2.23M), Vietnam ($990k), and United Kingdom ($461k).

COMPANIES In 2023, leading companies such as General Motors (78), LG Electronics (2), and CNH Industrial (1) were at the forefront of shipping Rubber Belting from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Rubber Belting exports accounted up to $5.65M and imports accounted up to $9.52M, resulting in a negative trade balance of $3.87M. Between July 2023 and July 2024 the exports of South Korea's   Rubber Belting have increased by $1.14M (25.3%) from $4.51M to $5.65M, while imports increased by $108k (1.15%) from $9.41M to $9.52M.

Destinations In July 2024, Rubber Belting were exported mostly to United States ($783k), Vietnam ($576k), United Arab Emirates ($550k), India ($354k), and Egypt ($343k), and were imported mostly from China ($5.17M), Japan ($1.29M), Vietnam ($1M), Romania ($375k), and United Kingdom ($288k).

Growth In July 2024, the increase in Rubber Belting's year-by-year exports was explained primarily by an increase in exports to United States ($504k or 95.6%), Indonesia ($180k or 1k%), and Colombia ($161k or 215%). In July 2024, the increase in Rubber Belting's year-by-year imports was explained primarily by an increase in imports from China ($1.78M or 58%), Poland ($162k or 83.5%), and Romania ($156k or 54.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$1.14M(25.3%)
IMPORT GROWTH (July 2023 - July 2024)$108k(1.15%)
MAIN DESTINATION (July 2024)United States$783k

This section shows Rubber Belting'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 Belting over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$64.6M
IMPORTS (2022)$111M
NET TRADE (2022)-$46.4M

In 2022, South Korea exported $64.6M in Rubber Belting. The main destinations of South Korea exports on Rubber Belting were United Arab Emirates ($9.37M), United States ($8.85M), Russia ($4.57M), India ($4.04M), and China ($3.05M).

In 2022, South Korea imported $111M in Rubber Belting, mainly from China ($49.2M), Vietnam ($22.1M), Japan ($15.1M), Germany ($5.15M), and Romania ($3.65M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Rubber Belting EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$3.72M (72.6%)
United Arab Emirates$3.16M (51%)
India$1.94M (92.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Rubber Belting BY South Korea WERE (2021 - 2022):
Egypt-$783k (-50%)
France-$447k (-55.9%)
Austria-$259k (-78.1%)
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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 Belting were:
China $1.52B
Germany $926M
United States $480M
In 2022, South Korea's main importing competitors in Rubber Belting were:
United States $884M
Germany $562M
Canada $287M

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Trade Value of Rubber Belting by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $4.2M
TOP IMPORT POTENTIALChina+ $11.7M

Rubber Belting’s highest export potential is United States. With an export gap of $4.2M.   Rubber Belting’s highest import potential is China with an import gap of $11.7M.

See methodology.

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