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Pricing

2022
Exports $11.2MWorld Rnk 29 / 91
Flag Rnk 714 / 1204
2022
Destination $3.08M Italy
2021 - 2022
FASTEST GROWING MARKET $3.08MItaly
2022
PRODUCT COMPLEXITY IN Steel Ingots0.23Rnk 480 / 1025
2022
Imports $105MWorld Rnk 11 / 163
Flag Rnk 502 / 1213
2022
Origin $30M Vietnam
2021 - 2022
FASTEST GROWING ORIGIN $30MVietnam
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $11.2M in Steel Ingots, making it the 29th largest exporter of Steel Ingots in the world. At the same year, Steel Ingots was the 714th most exported product in South Korea. The main destination of Steel Ingots exports from South Korea are: Italy ($3.51M), Vietnam ($1.99M), Belgium ($1.69M), Japan ($1.03M), and Poland ($862k).

The fastest growing export markets for Steel Ingots of South Korea between 2021 and 2022 were Italy ($3.08M), Vietnam ($1.05M), and Poland ($862k).

Imports In 2022, South Korea imported $105M in Steel Ingots, becoming the 11th largest importer of Steel Ingots in the world. At the same year, Steel Ingots was the 502nd most imported product in South Korea. South Korea imports Steel Ingots primarily from: Vietnam ($42.9M), Japan ($31.8M), Indonesia ($12M), Canada ($6.24M), and China ($4.16M).

The fastest growing import markets in Steel Ingots for South Korea between 2021 and 2022 were Vietnam ($30M), United Kingdom ($3.53M), and China ($1.91M).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Steel Ingots exports accounted up to $119k and imports accounted up to $1.55M, resulting in a negative trade balance of $1.43M. Between July 2023 and July 2024 the exports of South Korea's   Steel Ingots have increased by $119k (N/A%) from $0 to $119k, while imports decreased by $-6.39M (-80.5%) from $7.93M to $1.55M.

Destinations In July 2024, Steel Ingots were exported mostly to Italy ($119k), China ($0), Japan ($0), Chinese Taipei ($0), and Canada ($0), and were imported mostly from China ($804k), Japan ($380k), Canada ($357k), United States ($3k), and Chinese Taipei ($1k).

Growth In July 2024, the increase in Steel Ingots's year-by-year exports was explained primarily by an increase in exports to . In July 2024, the decrease in Steel Ingots's year-by-year imports was explained primarily by a decrease in imports from Canada ($-1.21M or -67.8%) and Italy ($-99k or -71.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$119k(N/A%)
IMPORT GROWTH (July 2023 - July 2024)$-6.39M(-80.5%)
MAIN DESTINATION (July 2024)Italy$119k

This section shows Steel Ingots'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 Steel Ingots over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$11.2M
IMPORTS (2022)$105M
NET TRADE (2022)-$93.6M

In 2022, South Korea exported $11.2M in Steel Ingots. The main destinations of South Korea exports on Steel Ingots were Italy ($3.51M), Vietnam ($1.99M), Belgium ($1.69M), Japan ($1.03M), and Poland ($862k).

In 2022, South Korea imported $105M in Steel Ingots, mainly from Vietnam ($42.9M), Japan ($31.8M), Indonesia ($12M), Canada ($6.24M), and China ($4.16M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Steel Ingots EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Italy$3.08M (715%)
Vietnam$1.05M (112%)
Poland$862k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Steel Ingots BY South Korea WERE (2021 - 2022):
China-$28.9M (-98.9%)
Turkey-$407k (-100%)
Indonesia-$93.1k (-58.4%)
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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 Steel Ingots were:
Brazil $811M
Germany $381M
Italy $359M
In 2022, South Korea's main importing competitors in Steel Ingots were:
United States $1.68B
Germany $387M
Italy $358M

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Trade Value of Steel Ingots by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $565k
TOP IMPORT POTENTIALChina+ $3.67M

Steel Ingots’s highest export potential is China. With an export gap of $565k.   Steel Ingots’s highest import potential is China with an import gap of $3.67M.

See methodology.

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