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2022
Exports $48.5MWorld Rnk 15 / 135
Flag Rnk 492 / 1204
2022
Destination $6.22M China
2021 - 2022
FASTEST GROWING MARKET $6.22MChina
2022
PRODUCT COMPLEXITY IN Other Nickel Products1.47Rnk 61 / 1025
2022
Imports $67.7MWorld Rnk 10 / 195
Flag Rnk 600 / 1213
2022
Origin $2.02M United States
2021 - 2022
FASTEST GROWING ORIGIN $2.02MUnited Kingdom
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $48.5M in Other Nickel Products, making it the 15th largest exporter of Other Nickel Products in the world. At the same year, Other Nickel Products was the 492nd most exported product in South Korea. The main destination of Other Nickel Products exports from South Korea are: China ($21.8M), Poland ($3.95M), Philippines ($3.46M), United States ($3.44M), and Vietnam ($2.49M).

The fastest growing export markets for Other Nickel Products of South Korea between 2021 and 2022 were China ($6.22M), United States ($1.4M), and Vietnam ($750k).

Imports In 2022, South Korea imported $67.7M in Other Nickel Products, becoming the 10th largest importer of Other Nickel Products in the world. At the same year, Other Nickel Products was the 600th most imported product in South Korea. South Korea imports Other Nickel Products primarily from: United States ($24.5M), Vietnam ($13.5M), Japan ($6.42M), China ($6.02M), and Germany ($5.06M).

The fastest growing import markets in Other Nickel Products for South Korea between 2021 and 2022 were United Kingdom ($2.02M), China ($1.51M), and Mexico ($1.14M).

COMPANIES In 2023, leading companies such as Bass Pro Shops (1) were at the forefront of shipping Other Nickel Products from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Other Nickel Products exports accounted up to $3.06M and imports accounted up to $8.55M, resulting in a negative trade balance of $5.49M. Between July 2023 and July 2024 the exports of South Korea's   Other Nickel Products have decreased by $-778k (-20.3%) from $3.84M to $3.06M, while imports increased by $2.03M (31.1%) from $6.52M to $8.55M.

Destinations In July 2024, Other Nickel Products were exported mostly to China ($1.87M), Philippines ($294k), Vietnam ($287k), Japan ($195k), and Malaysia ($144k), and were imported mostly from United States ($5.09M), China ($612k), Japan ($469k), India ($364k), and United Kingdom ($343k).

Growth In July 2024, the decrease in Other Nickel Products's year-by-year exports was explained primarily by a decrease in exports to China ($-1.22M or -52.9%), United States ($-445k or -84.3%), and Germany ($-182k or -95.3%). In July 2024, the increase in Other Nickel Products's year-by-year imports was explained primarily by an increase in imports from Germany ($224k or 236%), Japan ($56k or 19.3%), and Canada ($14k or 93.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-778k(-20.3%)
IMPORT GROWTH (July 2023 - July 2024)$2.03M(31.1%)
MAIN DESTINATION (July 2024)China$1.87M

This section shows Other Nickel Products'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 Other Nickel Products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$48.5M
IMPORTS (2022)$67.7M
NET TRADE (2022)-$19.2M

In 2022, South Korea exported $48.5M in Other Nickel Products. The main destinations of South Korea exports on Other Nickel Products were China ($21.8M), Poland ($3.95M), Philippines ($3.46M), United States ($3.44M), and Vietnam ($2.49M).

In 2022, South Korea imported $67.7M in Other Nickel Products, mainly from United States ($24.5M), Vietnam ($13.5M), Japan ($6.42M), China ($6.02M), and Germany ($5.06M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Other Nickel Products EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
China$6.22M (39.9%)
United States$1.4M (68.3%)
Vietnam$750k (43.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Other Nickel Products BY South Korea WERE (2021 - 2022):
Philippines-$1.82M (-34.5%)
Poland-$1.48M (-27.3%)
United Arab Emirates-$639k (-66.1%)
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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 Other Nickel Products were:
United States $864M
United Kingdom $310M
Finland $200M
In 2022, South Korea's main importing competitors in Other Nickel Products were:
Singapore $377M
United States $339M
China $227M

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Trade Value of Other Nickel Products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.08M
TOP IMPORT POTENTIALChina+ $2.35M

Other Nickel Products’s highest export potential is United States. With an export gap of $2.08M.   Other Nickel Products’s highest import potential is China with an import gap of $2.35M.

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