2022
Exports
$10.5MWorld Rnk 43 / 184
Flag Rnk 722 / 1204
2022
PRODUCT COMPLEXITY IN Salt
-1.11Rnk 857 / 1025
2022
Imports
$191MWorld Rnk 5 / 222
Flag Rnk 376 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $10.5M in Salt, making it the 43rd largest exporter of Salt in the world. At the same year, Salt was the 722nd most exported product in South Korea. The main destination of Salt exports from South Korea are: United States ($4.07M), Japan ($1.34M), China ($1.34M), Vietnam ($560k), and Canada ($459k).

The fastest growing export markets for Salt of South Korea between 2021 and 2022 were Russia ($157k), Tuvalu ($78k), and Vanuatu ($37.4k).

Imports In 2022, South Korea imported $191M in Salt, becoming the 5th largest importer of Salt in the world. At the same year, Salt was the 376th most imported product in South Korea. South Korea imports Salt primarily from: Australia ($64.3M), India ($51.7M), China ($40.3M), Mexico ($14.1M), and United States ($3.28M).

The fastest growing import markets in Salt for South Korea between 2021 and 2022 were Australia ($10.7M), Denmark ($1.2M), and United States ($1.04M).

COMPANIES In 2023, leading companies such as Samsung (1) were at the forefront of shipping Salt from South Korea to the United States.

Latest Trends

July 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-376k(-30.2%)
IMPORT GROWTH (July 2023 - July 2024)$2.29M(12.8%)
MAIN DESTINATION (July 2024)United States$260k

This section shows Salt'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 Salt over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$10.5M
IMPORTS (2022)$191M
NET TRADE (2022)-$180M

In 2022, South Korea exported $10.5M in Salt. The main destinations of South Korea exports on Salt were United States ($4.07M), Japan ($1.34M), China ($1.34M), Vietnam ($560k), and Canada ($459k).

In 2022, South Korea imported $191M in Salt, mainly from Australia ($64.3M), India ($51.7M), China ($40.3M), Mexico ($14.1M), and United States ($3.28M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Salt EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Russia$157k (107%)
Tuvalu$78k (63.8%)
Vanuatu$37.4k (40.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Salt BY South Korea WERE (2021 - 2022):
United States-$801k (-16.4%)
China-$481k (-26.4%)
Malaysia-$263k (-49.8%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Salt were:
In 2022, South Korea's main importing competitors in Salt were:

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Trade Value of Salt by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $1.28M
TOP IMPORT POTENTIALUnited States+ $1.85M

Salt’s highest export potential is China. With an export gap of $1.28M.   Salt’s highest import potential is United States with an import gap of $1.85M.

See methodology.

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