2022
Exports
$565MWorld Rnk 2 / 196
Flag Rnk 150 / 1204
falsefalse United States
2022
PRODUCT COMPLEXITY IN Stranded Iron Wire
0.15Rnk 505 / 1025
2022
Imports
$303MWorld Rnk 5 / 222
Flag Rnk 271 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $565M in Stranded Iron Wire, making it the 2nd largest exporter of Stranded Iron Wire in the world. At the same year, Stranded Iron Wire was the 150th most exported product in South Korea. The main destination of Stranded Iron Wire exports from South Korea are: United States ($147M), China ($44M), Japan ($43.1M), Spain ($21.9M), and Netherlands ($20.2M).

The fastest growing export markets for Stranded Iron Wire of South Korea between 2021 and 2022 were United States ($50.4M), Poland ($5.86M), and Italy ($5.21M).

Imports In 2022, South Korea imported $303M in Stranded Iron Wire, becoming the 5th largest importer of Stranded Iron Wire in the world. At the same year, Stranded Iron Wire was the 271st most imported product in South Korea. South Korea imports Stranded Iron Wire primarily from: China ($237M), Vietnam ($45M), Malaysia ($5.86M), Switzerland ($3.9M), and United States ($3.01M).

Historical Data

Trade Balance

Color
EXPORTS (2022)$565M
IMPORTS (2022)$303M
NET TRADE (2022)$261M

In 2022, South Korea exported $565M in Stranded Iron Wire. The main destinations of South Korea exports on Stranded Iron Wire were United States ($147M), China ($44M), Japan ($43.1M), Spain ($21.9M), and Netherlands ($20.2M).

In 2022, South Korea imported $303M in Stranded Iron Wire, mainly from China ($237M), Vietnam ($45M), Malaysia ($5.86M), Switzerland ($3.9M), and United States ($3.01M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Stranded Iron Wire EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$50.4M (52.4%)
Poland$5.86M (42.4%)
Italy$5.21M (53%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Stranded Iron Wire BY South Korea WERE (2021 - 2022):
Thailand-$5.98M (-28.5%)
Chinese Taipei-$5.96M (-25.3%)
Belgium-$4.29M (-23.2%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Stranded Iron Wire were:
China $2.93B
In 2022, South Korea's main importing competitors in Stranded Iron Wire were:

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Trade Value of Stranded Iron Wire by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $12.7M
TOP IMPORT POTENTIALVietnam+ $2.7M

Stranded Iron Wire’s highest export potential is China. With an export gap of $12.7M.   Stranded Iron Wire’s highest import potential is Vietnam with an import gap of $2.7M.

See methodology.

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