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2022
Exports $69.9MWorld Rnk 5 / 97
Flag Rnk 429 / 1204
2022
Destination $11M Japan
2021 - 2022
FASTEST GROWING MARKET $11MJapan
2022
PRODUCT COMPLEXITY IN Scrap Nickel-0.18Rnk 609 / 1025
2022
Imports $17.6MWorld Rnk 14 / 77
Flag Rnk 848 / 1213
2022
Origin $895k Japan
2021 - 2022
FASTEST GROWING ORIGIN $895kGermany
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $69.9M in Scrap Nickel, making it the 5th largest exporter of Scrap Nickel in the world. At the same year, Scrap Nickel was the 429th most exported product in South Korea. The main destination of Scrap Nickel exports from South Korea are: Japan ($50.4M), United States ($13.3M), United Kingdom ($3.94M), Singapore ($695k), and China ($676k).

The fastest growing export markets for Scrap Nickel of South Korea between 2021 and 2022 were Japan ($11M), United States ($11M), and United Kingdom ($3.32M).

Imports In 2022, South Korea imported $17.6M in Scrap Nickel, becoming the 14th largest importer of Scrap Nickel in the world. At the same year, Scrap Nickel was the 848th most imported product in South Korea. South Korea imports Scrap Nickel primarily from: Japan ($8.53M), Germany ($1.13M), Chinese Taipei ($1.08M), Indonesia ($951k), and Vietnam ($805k).

The fastest growing import markets in Scrap Nickel for South Korea between 2021 and 2022 were Germany ($895k), Hungary ($737k), and Vietnam ($673k).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Scrap Nickel exports accounted up to $5.23M and imports accounted up to $3.85M, resulting in a positive trade balance of $1.38M. Between July 2023 and July 2024 the exports of South Korea's   Scrap Nickel have increased by $1.56M (42.3%) from $3.67M to $5.23M, while imports increased by $2.94M (323%) from $910k to $3.85M.

Destinations In July 2024, Scrap Nickel were exported mostly to Japan ($2.93M), United States ($1.12M), Malaysia ($354k), India ($310k), and United Kingdom ($300k), and were imported mostly from Bahrain ($1.1M), Japan ($973k), China ($690k), Vietnam ($530k), and United States ($176k).

Growth In July 2024, the increase in Scrap Nickel's year-by-year exports was explained primarily by an increase in exports to Japan ($3M or 55.6%). In July 2024, the increase in Scrap Nickel's year-by-year imports was explained primarily by an increase in imports from Japan ($109k or 36.9%), Chinese Taipei ($73k or 81.1%), and Philippines ($10k or 1k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$1.56M(42.3%)
IMPORT GROWTH (July 2023 - July 2024)$2.94M(323%)
MAIN DESTINATION (July 2024)Japan$2.93M

This section shows Scrap Nickel'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 Scrap Nickel over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$69.9M
IMPORTS (2022)$17.6M
NET TRADE (2022)$52.2M

In 2022, South Korea exported $69.9M in Scrap Nickel. The main destinations of South Korea exports on Scrap Nickel were Japan ($50.4M), United States ($13.3M), United Kingdom ($3.94M), Singapore ($695k), and China ($676k).

In 2022, South Korea imported $17.6M in Scrap Nickel, mainly from Japan ($8.53M), Germany ($1.13M), Chinese Taipei ($1.08M), Indonesia ($951k), and Vietnam ($805k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Scrap Nickel EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Japan$11M (27.9%)
United States$11M (488%)
United Kingdom$3.32M (536%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Nickel BY South Korea WERE (2021 - 2022):
India-$1.48M (-82.4%)
Netherlands-$1.01M (-81.8%)
Canada-$858k (-96.1%)
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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 Scrap Nickel were:
United Kingdom $218M
United States $130M
Germany $114M
In 2022, South Korea's main importing competitors in Scrap Nickel were:
United States $399M
Japan $196M
United Kingdom $181M

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Trade Value of Scrap Nickel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.19M
TOP IMPORT POTENTIALGermany+ $515k

Scrap Nickel’s highest export potential is United States. With an export gap of $2.19M.   Scrap Nickel’s highest import potential is Germany with an import gap of $515k.

See methodology.

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