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2022
Exports $185MWorld Rnk 20 / 199
Flag Rnk 290 / 1204
2022
Destination $5.12M Japan
2021 - 2022
FASTEST GROWING MARKET $5.12MVietnam
2022
PRODUCT COMPLEXITY IN Special Pharmaceuticals0.61Rnk 321 / 1025
2022
Imports $289MWorld Rnk 15 / 220
Flag Rnk 281 / 1213
2022
Origin $3.58M United States
2021 - 2022
FASTEST GROWING ORIGIN $3.58MFrance
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $185M in Special Pharmaceuticals, making it the 20th largest exporter of Special Pharmaceuticals in the world. At the same year, Special Pharmaceuticals was the 290th most exported product in South Korea. The main destination of Special Pharmaceuticals exports from South Korea are: Japan ($19M), China ($18M), United States ($17.4M), Russia ($12.1M), and Vietnam ($8.3M).

The fastest growing export markets for Special Pharmaceuticals of South Korea between 2021 and 2022 were Vietnam ($5.12M), United States ($4.92M), and China ($2.73M).

Imports In 2018, South Korea imported $289M in Special Pharmaceuticals, becoming the 15th largest importer of Special Pharmaceuticals in the world. At the same year, Special Pharmaceuticals was the 281st most imported product in South Korea. South Korea imports Special Pharmaceuticals primarily from: United States ($47.8M), Germany ($40.2M), China ($35.4M), Mexico ($22.1M), and Italy ($22M).

The fastest growing import markets in Special Pharmaceuticals for South Korea between 2021 and 2022 were France ($3.58M), Vietnam ($2.29M), and Mexico ($2.27M).

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

Latest Trends

August 2024

About

Overview In August 2024 South Korea's Special Pharmaceuticals exports accounted up to $17M and imports accounted up to $24.7M, resulting in a negative trade balance of $7.67M. Between August 2023 and August 2024 the exports of South Korea's   Special Pharmaceuticals have increased by $4.3M (33.8%) from $12.7M to $17M, while imports decreased by $-3.12M (-11.2%) from $27.8M to $24.7M.

Destinations In August 2024, Special Pharmaceuticals were exported mostly to Japan ($2.84M), United States ($1.31M), Brazil ($1.27M), Russia ($1.12M), and China ($1.09M), and were imported mostly from United States ($5.28M), China ($3.13M), Germany ($2.75M), France ($2.67M), and Mexico ($2.19M).

Growth In August 2024, the increase in Special Pharmaceuticals's year-by-year exports was explained primarily by an increase in exports to United States ($948k or 148%), Japan ($881k or 52.5%), and Switzerland ($586k or 146%). In August 2024, the decrease in Special Pharmaceuticals's year-by-year imports was explained primarily by a decrease in imports from France ($-1.58M or -61.9%), Canada ($-1.47M or -94%), and Mexico ($-764k or -54.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$4.3M(33.8%)
IMPORT GROWTH (August 2023 - August 2024)$-3.12M(-11.2%)
MAIN DESTINATION (August 2024)Japan$2.84M

This section shows Special Pharmaceuticals'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 Special Pharmaceuticals over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$185M
IMPORTS (2022)$289M
NET TRADE (2022)-$103M

In 2022, South Korea exported $185M in Special Pharmaceuticals. The main destinations of South Korea exports on Special Pharmaceuticals were Japan ($19M), China ($18M), United States ($17.4M), Russia ($12.1M), and Vietnam ($8.3M).

In 2022, South Korea imported $289M in Special Pharmaceuticals, mainly from United States ($47.8M), Germany ($40.2M), China ($35.4M), Mexico ($22.1M), and Italy ($22M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Special Pharmaceuticals EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Vietnam$5.12M (161%)
United States$4.92M (39.4%)
China$2.73M (17.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Special Pharmaceuticals BY South Korea WERE (2021 - 2022):
Dominican Republic-$3.79M (-95.3%)
Bolivia-$1.89M (-96.4%)
Brazil-$1.3M (-39.9%)
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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 Special Pharmaceuticals were:
Germany $3.23B
United States $1.77B
Netherlands $1.25B
In 2022, South Korea's main importing competitors in Special Pharmaceuticals were:
United States $3.52B
Belgium $1.22B
China $1.01B

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Trade Value of Special Pharmaceuticals by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $14.1M
TOP IMPORT POTENTIALChina+ $12M

Special Pharmaceuticals’s highest export potential is China. With an export gap of $14.1M.   Special Pharmaceuticals’s highest import potential is China with an import gap of $12M.

See methodology.

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