2022
Exports
$488MWorld Rnk 5 / 95
Flag Rnk 164 / 1204
2022
PRODUCT COMPLEXITY IN Nitrile Compounds
1.07Rnk 146 / 1025
2022
Imports
$509MWorld Rnk 3 / 178
Flag Rnk 186 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $488M in Nitrile Compounds, making it the 5th largest exporter of Nitrile Compounds in the world. At the same year, Nitrile Compounds was the 164th most exported product in South Korea. The main destination of Nitrile Compounds exports from South Korea are: Netherlands ($161M), United States ($80.5M), China ($70.7M), India ($66.6M), and Malaysia ($26.2M).

The fastest growing export markets for Nitrile Compounds of South Korea between 2021 and 2022 were Netherlands ($63.2M), United States ($27.5M), and United Kingdom ($24.6M).

Imports In 2022, South Korea imported $509M in Nitrile Compounds, becoming the 3rd largest importer of Nitrile Compounds in the world. At the same year, Nitrile Compounds was the 186th most imported product in South Korea. South Korea imports Nitrile Compounds primarily from: China ($224M), United States ($128M), Germany ($95M), Chinese Taipei ($42.2M), and Japan ($12.5M).

The fastest growing import markets in Nitrile Compounds for South Korea between 2021 and 2022 were Germany ($14.3M), Brazil ($987k), and Belgium ($22.5k).

COMPANIES In 2023, leading companies such as LG Electronics (72), General Motors (6), and Volvo (6) were at the forefront of shipping Nitrile Compounds from South Korea to the United States.

Latest Trends

July 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-838k(-4.26%)
IMPORT GROWTH (July 2023 - July 2024)$5.52M(30.8%)
MAIN DESTINATION (July 2024)Netherlands$8.26M

This section shows Nitrile Compounds'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 Nitrile Compounds over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$488M
IMPORTS (2022)$509M
NET TRADE (2022)-$21.3M

In 2022, South Korea exported $488M in Nitrile Compounds. The main destinations of South Korea exports on Nitrile Compounds were Netherlands ($161M), United States ($80.5M), China ($70.7M), India ($66.6M), and Malaysia ($26.2M).

In 2022, South Korea imported $509M in Nitrile Compounds, mainly from China ($224M), United States ($128M), Germany ($95M), Chinese Taipei ($42.2M), and Japan ($12.5M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Nitrile Compounds EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Netherlands$63.2M (64.4%)
United States$27.5M (52%)
United Kingdom$24.6M (58.5k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Nitrile Compounds BY South Korea WERE (2021 - 2022):
China-$91.2M (-56.3%)
Malaysia-$69.8M (-72.7%)
India-$12.4M (-15.7%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Nitrile Compounds were:
In 2022, South Korea's main importing competitors in Nitrile Compounds were:

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Trade Value of Nitrile Compounds by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $15M
TOP IMPORT POTENTIALIndia+ $4M

Nitrile Compounds’s highest export potential is China. With an export gap of $15M.   Nitrile Compounds’s highest import potential is India with an import gap of $4M.

See methodology.

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