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2022
Exports $42.1MWorld Rnk 8 / 119
Flag Rnk 522 / 1204
2022
Destination $4.04M United States
2021 - 2022
FASTEST GROWING MARKET $4.04MGermany
2022
PRODUCT COMPLEXITY IN Tungsten1.45Rnk 63 / 1025
2022
Imports $80.9MWorld Rnk 5 / 169
Flag Rnk 560 / 1213
2022
Origin $1.99M China
2021 - 2022
FASTEST GROWING ORIGIN $1.99MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $42.1M in Tungsten, making it the 8th largest exporter of Tungsten in the world. At the same year, Tungsten was the 522nd most exported product in South Korea. The main destination of Tungsten exports from South Korea are: United States ($9.33M), Germany ($7.35M), United Kingdom ($4.38M), Vietnam ($3.75M), and China ($3.05M).

The fastest growing export markets for Tungsten of South Korea between 2021 and 2022 were Germany ($4.04M), Singapore ($2.42M), and Hong Kong ($1.43M).

Imports In 2022, South Korea imported $80.9M in Tungsten, becoming the 5th largest importer of Tungsten in the world. At the same year, Tungsten was the 560th most imported product in South Korea. South Korea imports Tungsten primarily from: China ($58.5M), Japan ($16.1M), Chinese Taipei ($1.62M), United States ($1.24M), and Germany ($1.04M).

The fastest growing import markets in Tungsten for South Korea between 2021 and 2022 were China ($1.99M), Japan ($788k), and Chinese Taipei ($601k).

COMPANIES In 2023, leading companies such as LG Electronics (17), Hankook Tires (9), and Sumitomo Rubber (1) were at the forefront of shipping Tungsten from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Tungsten exports accounted up to $2.21M and imports accounted up to $6.87M, resulting in a negative trade balance of $4.66M. Between September 2023 and September 2024 the exports of South Korea's   Tungsten have decreased by $-867k (-28.1%) from $3.08M to $2.21M, while imports increased by $1.11M (19.3%) from $5.76M to $6.87M.

Destinations In September 2024, Tungsten were exported mostly to Chinese Taipei ($840k), India ($422k), China ($355k), Vietnam ($320k), and Philippines ($190k), and were imported mostly from China ($4.32M), Japan ($2.2M), United States ($126k), Germany ($106k), and Chinese Taipei ($85k).

Growth In September 2024, the decrease in Tungsten's year-by-year exports was explained primarily by a decrease in exports to United States ($-364k or -35.7%), Switzerland ($-309k or -100%), and China ($-97k or -31%). In September 2024, the increase in Tungsten's year-by-year imports was explained primarily by an increase in imports from China ($1.09M or 22%), Chinese Taipei ($659k or 461%), and United States ($57k or 48.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-867k(-28.1%)
IMPORT GROWTH (September 2023 - September 2024)$1.11M(19.3%)
MAIN DESTINATION (September 2024)Chinese Taipei$840k

This section shows Tungsten'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 Tungsten over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$42.1M
IMPORTS (2022)$80.9M
NET TRADE (2022)-$38.8M

In 2022, South Korea exported $42.1M in Tungsten. The main destinations of South Korea exports on Tungsten were United States ($9.33M), Germany ($7.35M), United Kingdom ($4.38M), Vietnam ($3.75M), and China ($3.05M).

In 2022, South Korea imported $80.9M in Tungsten, mainly from China ($58.5M), Japan ($16.1M), Chinese Taipei ($1.62M), United States ($1.24M), and Germany ($1.04M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Tungsten EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Germany$4.04M (122%)
Singapore$2.42M (1.28k%)
Hong Kong$1.43M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Tungsten BY South Korea WERE (2021 - 2022):
China-$1.98M (-39.4%)
Chinese Taipei-$500k (-30.1%)
Indonesia-$254k (-88.9%)
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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 Tungsten were:
China $369M
Germany $206M
United States $145M
In 2022, South Korea's main importing competitors in Tungsten were:
United States $236M
Germany $204M
Austria $130M

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Trade Value of Tungsten by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $1.71M
TOP IMPORT POTENTIALUnited States+ $996k

Tungsten’s highest export potential is China. With an export gap of $1.71M.   Tungsten’s highest import potential is United States with an import gap of $996k.

See methodology.

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