2023
Exports
$2.64BWorld Rnk 2 / 142
Flag Rnk 39 / 1188
2023
PRODUCT COMPLEXITY IN Synthetic Rubber
0.45Rnk 383 / 1025
2023
Imports
$390MWorld Rnk 19 / 205
Flag Rnk 204 / 1208
2023
ECONOMIC COMPLEXITY of South Korea
1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $2.64B in Synthetic Rubber, making it the 2nd largest exporter of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 39th most exported product in South Korea. The main destination of Synthetic Rubber exports from South Korea are: China ($538M), United States ($272M), Malaysia ($267M), India ($251M), and Thailand ($250M).

The fastest growing export markets for Synthetic Rubber of South Korea between 2022 and 2023 were Saudi Arabia ($6.42M), Singapore ($5.56M), and Philippines ($4.44M).

Imports In 2023, South Korea imported $390M in Synthetic Rubber, becoming the 19th largest importer of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 204th most imported product in South Korea. South Korea imports Synthetic Rubber primarily from: China ($132M), Japan ($71.7M), United States ($46.5M), Singapore ($36.2M), and Germany ($27.9M).

The fastest growing import markets in Synthetic Rubber for South Korea between 2022 and 2023 were China ($31.9M), Poland ($12.6M), and Chinese Taipei ($4.22M).

COMPANIES In 2024, leading companies such as LG Electronics (55), General Motors (31), and Hankook Tires (18) were at the forefront of shipping Synthetic Rubber from South Korea to the United States.

Latest Trends

January 2025

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (January 2024 - January 2025)$27.5M(11.2%)
IMPORT GROWTH (January 2024 - January 2025)$-425k(-1.5%)
MAIN DESTINATION (January 2025)China$60.1M

This section shows Synthetic Rubber'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 Synthetic Rubber over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$2.64B
IMPORTS (2023)$390M
NET TRADE (2023)$2.25B

In 2023, South Korea exported $2.64B in Synthetic Rubber. The main destinations of South Korea exports on Synthetic Rubber were China ($538M), United States ($272M), Malaysia ($267M), India ($251M), and Thailand ($250M).

In 2023, South Korea imported $390M in Synthetic Rubber, mainly from China ($132M), Japan ($71.7M), United States ($46.5M), Singapore ($36.2M), and Germany ($27.9M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Synthetic Rubber EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Saudi Arabia$6.42M (190%)
Singapore$5.56M (128%)
Philippines$4.44M (26.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Synthetic Rubber BY South Korea WERE (2022 - 2023):
Vietnam-$262M (-100%)
Malaysia-$84.9M (-24.2%)
Indonesia-$77.2M (-25.7%)

Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Synthetic Rubber were:
In 2023, South Korea's main importing competitors in Synthetic Rubber were:

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Trade Value of Synthetic Rubber by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $256M
TOP IMPORT POTENTIALChina+ $24.7M

Synthetic Rubber’s highest export potential is China. With an export gap of $256M.   Synthetic Rubber’s highest import potential is China with an import gap of $24.7M.

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