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2022
Exports $291MWorld Rnk 3 / 126
Flag Rnk 220 / 1204
2022
Destination $12.7M Germany
2021 - 2022
FASTEST GROWING MARKET $12.7MNetherlands
2022
PRODUCT COMPLEXITY IN Stainless Steel Wire1.38Rnk 74 / 1025
2022
Imports $104MWorld Rnk 8 / 202
Flag Rnk 505 / 1213
2022
Origin $6.46M China
2021 - 2022
FASTEST GROWING ORIGIN $6.46MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $291M in Stainless Steel Wire, making it the 3rd largest exporter of Stainless Steel Wire in the world. At the same year, Stainless Steel Wire was the 220th most exported product in South Korea. The main destination of Stainless Steel Wire exports from South Korea are: Germany ($57.7M), United States ($46.7M), China ($41.1M), Japan ($35M), and Italy ($16.3M).

The fastest growing export markets for Stainless Steel Wire of South Korea between 2021 and 2022 were Netherlands ($12.7M), United States ($11.4M), and Germany ($5.75M).

Imports In 2022, South Korea imported $104M in Stainless Steel Wire, becoming the 8th largest importer of Stainless Steel Wire in the world. At the same year, Stainless Steel Wire was the 505th most imported product in South Korea. South Korea imports Stainless Steel Wire primarily from: China ($60.6M), Japan ($16.2M), India ($10.3M), Vietnam ($8.87M), and Sweden ($2.38M).

The fastest growing import markets in Stainless Steel Wire for South Korea between 2021 and 2022 were China ($6.46M), Sweden ($648k), and Netherlands ($431k).

COMPANIES In 2023, leading companies such as LG Electronics (1) were at the forefront of shipping Stainless Steel Wire from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Stainless Steel Wire exports accounted up to $19.1M and imports accounted up to $10.2M, resulting in a positive trade balance of $8.89M. Between July 2023 and July 2024 the exports of South Korea's   Stainless Steel Wire have increased by $1.57M (8.98%) from $17.5M to $19.1M, while imports increased by $2.07M (25.5%) from $8.15M to $10.2M.

Destinations In July 2024, Stainless Steel Wire were exported mostly to Germany ($4.6M), China ($3.76M), United States ($2.44M), Japan ($2.12M), and Singapore ($999k), and were imported mostly from China ($6.72M), Japan ($1.14M), India ($951k), Vietnam ($948k), and Hong Kong ($155k).

Growth In July 2024, the increase in Stainless Steel Wire's year-by-year exports was explained primarily by an increase in exports to Turkey ($329k or 59%), United Kingdom ($177k or 72%), and Israel ($157k or 99.4%). In July 2024, the increase in Stainless Steel Wire's year-by-year imports was explained primarily by an increase in imports from China ($549k or 11.3%), United States ($152k or 3.04k%), and United Kingdom ($2k or 200%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$1.57M(8.98%)
IMPORT GROWTH (July 2023 - July 2024)$2.07M(25.5%)
MAIN DESTINATION (July 2024)Germany$4.6M

This section shows Stainless Steel Wire'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 Stainless Steel Wire over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$291M
IMPORTS (2022)$104M
NET TRADE (2022)$187M

In 2022, South Korea exported $291M in Stainless Steel Wire. The main destinations of South Korea exports on Stainless Steel Wire were Germany ($57.7M), United States ($46.7M), China ($41.1M), Japan ($35M), and Italy ($16.3M).

In 2022, South Korea imported $104M in Stainless Steel Wire, mainly from China ($60.6M), Japan ($16.2M), India ($10.3M), Vietnam ($8.87M), and Sweden ($2.38M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Stainless Steel Wire EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Netherlands$12.7M (354%)
United States$11.4M (32.4%)
Germany$5.75M (11.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Stainless Steel Wire BY South Korea WERE (2021 - 2022):
Hong Kong-$3.61M (-61.3%)
Japan-$2.23M (-5.99%)
Singapore-$1.67M (-21.9%)
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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 Stainless Steel Wire were:
India $526M
China $429M
In 2022, South Korea's main importing competitors in Stainless Steel Wire were:
Germany $435M
United States $345M
Italy $226M

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Trade Value of Stainless Steel Wire by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $5.9M
TOP IMPORT POTENTIALIndia+ $4.97M

Stainless Steel Wire’s highest export potential is China. With an export gap of $5.9M.   Stainless Steel Wire’s highest import potential is India with an import gap of $4.97M.

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