Industrial Fatty Acids, Oils and Alcohols in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $3.06B in Industrial Fatty Acids, Oils and Alcohols, making it the 9th largest exporter of Industrial Fatty Acids, Oils and Alcohols in the world. At the same year, Industrial Fatty Acids, Oils and Alcohols was the 38th most exported product in South Korea. The main destination of Industrial Fatty Acids, Oils and Alcohols exports from South Korea are: Hungary ($773M), China ($653M), United States ($580M), Netherlands ($159M), and Spain ($140M).

The fastest growing export markets for Industrial Fatty Acids, Oils and Alcohols of South Korea between 2021 and 2022 were Hungary ($483M), United States ($356M), and Spain ($77.6M).

Imports In 2022, South Korea imported $2.54B in Industrial Fatty Acids, Oils and Alcohols, becoming the 12th largest importer of Industrial Fatty Acids, Oils and Alcohols in the world. At the same year, Industrial Fatty Acids, Oils and Alcohols was the 33rd most imported product in South Korea. South Korea imports Industrial Fatty Acids, Oils and Alcohols primarily from: China ($919M), Japan ($593M), United States ($401M), Germany ($132M), and Chinese Taipei ($59M).

The fastest growing import markets in Industrial Fatty Acids, Oils and Alcohols for South Korea between 2021 and 2022 were China ($241M), Canada ($22.8M), and Germany ($11.7M).

Latest Trends

July 2024

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Overview In July 2024 South Korea's Industrial Fatty Acids, Oils and Alcohols exports accounted up to $1.15M and imports accounted up to $46.9M, resulting in a negative trade balance of $45.8M. Between July 2023 and July 2024 the exports of South Korea's Industrial Fatty Acids, Oils and Alcohols have increased by $278k (32%) from $869k to $1.15M, while imports increased by $10.6M (29.3%) from $36.3M to $46.9M.

Destinations In July 2024, Industrial Fatty Acids, Oils and Alcohols were exported mostly to Malaysia ($225k), China ($203k), Japan ($190k), Chinese Taipei ($161k), and Saudi Arabia ($132k), and were imported mostly from Malaysia ($23.8M), Indonesia ($17.8M), India ($1.89M), United States ($784k), and Thailand ($662k).

Growth In July 2024, the increase in Industrial Fatty Acids, Oils and Alcohols's year-by-year exports was explained primarily by an increase in exports to Japan ($8k or 1.9%) and China ($6k or 1.06%). In July 2024, the increase in Industrial Fatty Acids, Oils and Alcohols's year-by-year imports was explained primarily by an increase in imports from Thailand ($808k or 53.5%), Philippines ($496k or 74.3%), and Malaysia ($205k or 1.11%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (July 2023 - July 2024)$278k(32%)

IMPORT GROWTH (July 2023 - July 2024)$10.6M(29.3%)

MAIN DESTINATION (July 2024)Malaysia$225k

This section shows Industrial Fatty Acids, Oils and Alcohols'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 Industrial Fatty Acids, Oils and Alcohols over time.

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