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2022
Exports $6.09MWorld Rnk 44 / 131
Flag Rnk 799 / 1204
2022
Destination $1M United States
2021 - 2022
FASTEST GROWING MARKET $1MIndia
2022
PRODUCT COMPLEXITY IN Rubber-2.24Rnk 1010 / 1025
2022
Imports $702MWorld Rnk 7 / 192
Flag Rnk 153 / 1213
2022
Origin $172M Thailand
2021 - 2022
FASTEST GROWING ORIGIN $172MThailand
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $6.09M in Rubber, making it the 44th largest exporter of Rubber in the world. At the same year, Rubber was the 799th most exported product in South Korea. The main destination of Rubber exports from South Korea are: United States ($2.86M), India ($1.01M), Vietnam ($744k), China ($557k), and Bangladesh ($261k).

The fastest growing export markets for Rubber of South Korea between 2021 and 2022 were India ($1M), United States ($715k), and Finland ($177k).

Imports In 2022, South Korea imported $702M in Rubber, becoming the 7th largest importer of Rubber in the world. At the same year, Rubber was the 153rd most imported product in South Korea. South Korea imports Rubber primarily from: Thailand ($388M), Indonesia ($166M), Vietnam ($76.2M), Cambodia ($27.3M), and Philippines ($24.9M).

The fastest growing import markets in Rubber for South Korea between 2021 and 2022 were Thailand ($172M), Philippines ($13.6M), and Cambodia ($9.55M).

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

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Rubber exports accounted up to $65k and imports accounted up to $69.9M, resulting in a negative trade balance of $69.8M. Between October 2023 and October 2024 the exports of South Korea's   Rubber have remained the same by $0 (0%) from $65k to $65k, while imports increased by $36.5M (109%) from $33.4M to $69.9M.

Destinations In October 2024, Rubber were exported mostly to Vietnam ($47k), China ($13k), United States ($5k), Cote d'Ivoire ($0), and Indonesia ($0), and were imported mostly from Thailand ($26M), Indonesia ($20.9M), Cote d'Ivoire ($14.8M), Vietnam ($4.05M), and Malaysia ($1.69M).

Growth In October 2024, the change in Rubber's year-by-year exports was explained primarily by a decrease in exports to United States ($-670k or -99.9%), China ($-21k or -58.3%), and Vietnam ($-17k or -50%). In October 2024, the increase in Rubber's year-by-year imports was explained primarily by an increase in imports from Philippines ($1.91M or 117%).

Subnational Monthly Trade

Time Scale
Flow
Color
IMPORT GROWTH (October 2023 - October 2024)$36.5M(109%)
MAIN DESTINATION (October 2024)Vietnam$47k

This section shows Rubber'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 over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$6.09M
IMPORTS (2022)$702M
NET TRADE (2022)-$696M

In 2022, South Korea exported $6.09M in Rubber. The main destinations of South Korea exports on Rubber were United States ($2.86M), India ($1.01M), Vietnam ($744k), China ($557k), and Bangladesh ($261k).

In 2022, South Korea imported $702M in Rubber, mainly from Thailand ($388M), Indonesia ($166M), Vietnam ($76.2M), Cambodia ($27.3M), and Philippines ($24.9M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Rubber EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
India$1M (18.2k%)
United States$715k (33.3%)
Finland$177k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Rubber BY South Korea WERE (2021 - 2022):
United Kingdom-$1.7M (-99.2%)
Czechia-$350k (-100%)
Portugal-$349k (-90.7%)
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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 were:
Thailand $5.47B
Indonesia $4.17B
Cote d'Ivoire $2.11B
In 2022, South Korea's main importing competitors in Rubber were:
China $3.82B
United States $2.06B
Malaysia $1.42B

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Trade Value of Rubber by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $1.32M
TOP IMPORT POTENTIALIndonesia+ $12.1M

Rubber’s highest export potential is United States. With an export gap of $1.32M.   Rubber’s highest import potential is Indonesia with an import gap of $12.1M.

See methodology.

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