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2022
Exports $699MWorld Rnk 5 / 123
Flag Rnk 132 / 1204
2022
Destination $18.6M China
2021 - 2022
FASTEST GROWING MARKET $18.6MNetherlands
2022
PRODUCT COMPLEXITY IN Petroleum Resins1.53Rnk 46 / 1025
2022
Imports $260MWorld Rnk 10 / 197
Flag Rnk 299 / 1213
2022
Origin $21.2M China
2021 - 2022
FASTEST GROWING ORIGIN $21.2MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $699M in Petroleum Resins, making it the 5th largest exporter of Petroleum Resins in the world. At the same year, Petroleum Resins was the 132nd most exported product in South Korea. The main destination of Petroleum Resins exports from South Korea are: China ($195M), Netherlands ($66.1M), United States ($57.4M), Japan ($43.3M), and Germany ($40.2M).

The fastest growing export markets for Petroleum Resins of South Korea between 2021 and 2022 were Netherlands ($18.6M), Mexico ($8.95M), and Vietnam ($8.7M).

Imports In 2022, South Korea imported $260M in Petroleum Resins, becoming the 10th largest importer of Petroleum Resins in the world. At the same year, Petroleum Resins was the 299th most imported product in South Korea. South Korea imports Petroleum Resins primarily from: China ($91.5M), United States ($49.6M), Japan ($45.8M), Germany ($21.8M), and Thailand ($16M).

The fastest growing import markets in Petroleum Resins for South Korea between 2021 and 2022 were China ($21.2M), India ($2.98M), and Singapore ($875k).

COMPANIES In 2023, leading companies such as LG Electronics (13), General Motors (2), and Electrolux (1) were at the forefront of shipping Petroleum Resins from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Petroleum Resins exports accounted up to $55M and imports accounted up to $16.8M, resulting in a positive trade balance of $38.2M. Between September 2023 and September 2024 the exports of South Korea's   Petroleum Resins have increased by $4.73M (9.41%) from $50.3M to $55M, while imports increased by $2.36M (16.3%) from $14.4M to $16.8M.

Destinations In September 2024, Petroleum Resins were exported mostly to China ($14.2M), Netherlands ($7.06M), United States ($4.99M), Japan ($4.32M), and Germany ($3.55M), and were imported mostly from China ($6.5M), Japan ($3.14M), United States ($2.17M), Germany ($1.27M), and Singapore ($770k).

Growth In September 2024, the increase in Petroleum Resins's year-by-year exports was explained primarily by an increase in exports to Canada ($1.56M or 2.06k%), India ($1.41M or 78.7%), and Japan ($1.08M or 32.8%). In September 2024, the increase in Petroleum Resins's year-by-year imports was explained primarily by an increase in imports from Singapore ($280k or 92.1%), China ($57k or 0.77%), and Italy ($47k or 56.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$4.73M(9.41%)
IMPORT GROWTH (September 2023 - September 2024)$2.36M(16.3%)
MAIN DESTINATION (September 2024)China$14.2M

This section shows Petroleum Resins'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 Petroleum Resins over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$699M
IMPORTS (2022)$260M
NET TRADE (2022)$440M

In 2022, South Korea exported $699M in Petroleum Resins. The main destinations of South Korea exports on Petroleum Resins were China ($195M), Netherlands ($66.1M), United States ($57.4M), Japan ($43.3M), and Germany ($40.2M).

In 2022, South Korea imported $260M in Petroleum Resins, mainly from China ($91.5M), United States ($49.6M), Japan ($45.8M), Germany ($21.8M), and Thailand ($16M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Petroleum Resins EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Netherlands$18.6M (39.3%)
Mexico$8.95M (43.9%)
Vietnam$8.7M (48.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Petroleum Resins BY South Korea WERE (2021 - 2022):
China-$12.4M (-6%)
Germany-$6.45M (-13.8%)
Hong Kong-$5.82M (-50.1%)
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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 Petroleum Resins were:
United States $1.31B
China $1.28B
Germany $1.24B
In 2022, South Korea's main importing competitors in Petroleum Resins were:
China $901M
United States $662M
Germany $510M

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Trade Value of Petroleum Resins by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $19.6M
TOP IMPORT POTENTIALChina+ $13.3M

Petroleum Resins’s highest export potential is China. With an export gap of $19.6M.   Petroleum Resins’s highest import potential is China with an import gap of $13.3M.

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