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2023
Exports $7.16MWorld Rnk 21 / 111
Flag Rnk 742 / 1188
2023
Destination $656k China
2022 - 2023
FASTEST GROWING MARKET $656kUnited States
2023
PRODUCT COMPLEXITY IN Silicates-0.67Rnk 753 / 1025
2023
Imports $43MWorld Rnk 4 / 201
Flag Rnk 650 / 1208
2023
Origin $1.64M China
2022 - 2023
FASTEST GROWING ORIGIN $1.64MNetherlands
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $7.16M in Silicates, making it the 21st largest exporter of Silicates in the world. At the same year, Silicates was the 742nd most exported product in South Korea. The main destination of Silicates exports from South Korea are: China ($2.79M), Malaysia ($1.52M), United States ($948k), Thailand ($442k), and France ($360k).

The fastest growing export markets for Silicates of South Korea between 2022 and 2023 were United States ($656k), China ($554k), and Romania ($211k).

Imports In 2023, South Korea imported $43M in Silicates, becoming the 4th largest importer of Silicates in the world. At the same year, Silicates was the 650th most imported product in South Korea. South Korea imports Silicates primarily from: China ($34.6M), Netherlands ($3.07M), Japan ($2.23M), United States ($1.5M), and India ($1.03M).

The fastest growing import markets in Silicates for South Korea between 2022 and 2023 were Netherlands ($1.64M), France ($89.9k), and Malaysia ($82.4k).

COMPANIES In 2024, leading companies such as LG Electronics (49) were at the forefront of shipping Silicates from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Silicates exports accounted up to $787k and imports accounted up to $3.92M, resulting in a negative trade balance of $3.14M. Between December 2023 and December 2024 the exports of South Korea's   Silicates have increased by $441k (127%) from $346k to $787k, while imports increased by $924k (30.8%) from $3M to $3.92M.

Destinations In December 2024, Silicates were exported mostly to China ($262k), Malaysia ($211k), United Arab Emirates ($94k), France ($81k), and Vietnam ($58k), and were imported mostly from China ($3.4M), Japan ($180k), Malaysia ($115k), United States ($106k), and Belgium ($44k).

Growth In December 2024, the increase in Silicates's year-by-year exports was explained primarily by an increase in exports to China ($254k or 353%) and Thailand ($9k or 23.7%). In December 2024, the increase in Silicates's year-by-year imports was explained primarily by an increase in imports from India ($301k or 7.53k%), United States ($79k or 161%), and Malaysia ($27k or 540%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$441k(127%)
IMPORT GROWTH (December 2023 - December 2024)$924k(30.8%)
MAIN DESTINATION (December 2024)China$262k

This section shows Silicates'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 Silicates over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$7.16M
IMPORTS (2023)$43M
NET TRADE (2023)-$35.8M

In 2023, South Korea exported $7.16M in Silicates. The main destinations of South Korea exports on Silicates were China ($2.79M), Malaysia ($1.52M), United States ($948k), Thailand ($442k), and France ($360k).

In 2023, South Korea imported $43M in Silicates, mainly from China ($34.6M), Netherlands ($3.07M), Japan ($2.23M), United States ($1.5M), and India ($1.03M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Silicates EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
United States$656k (225%)
China$554k (24.8%)
Romania$211k (1.76k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Silicates BY South Korea WERE (2022 - 2023):
Malaysia-$906k (-37.3%)
Democratic Republic of the Congo-$483k (-100%)
Vietnam-$465k (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Silicates were:
China $185M
Poland $89.4M
United States $77.4M
In 2023, South Korea's main importing competitors in Silicates were:
United States $65.3M
Germany $60.9M
Netherlands $48.1M

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Trade Value of Silicates by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $178k
TOP IMPORT POTENTIALIndia+ $499k

Silicates’s highest export potential is United States. With an export gap of $178k.   Silicates’s highest import potential is India with an import gap of $499k.

See methodology.

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