Inorganic chemicals in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $8.96B in Inorganic chemicals, making it the 6th largest exporter of Inorganic chemicals in the world. At the same year, Inorganic chemicals was the 11th most exported product in South Korea. The main destination of Inorganic chemicals exports from South Korea are: Poland ($2.1B), China ($1.25B), United States ($1.18B), Japan ($916M), and Malaysia ($508M).

The fastest growing export markets for Inorganic chemicals of South Korea between 2021 and 2022 were Poland ($1.05B), United States ($870M), and Slovenia ($293M).

Imports In 2022, South Korea imported $13B in Inorganic chemicals, becoming the 3rd largest importer of Inorganic chemicals in the world. At the same year, Inorganic chemicals was the 10th most imported product in South Korea. South Korea imports Inorganic chemicals primarily from: China ($6.36B), Chile ($1.37B), United States ($780M), Japan ($703M), and Indonesia ($526M).

The fastest growing import markets in Inorganic chemicals for South Korea between 2021 and 2022 were China ($3.43B), Chile ($1.05B), and Saudi Arabia ($284M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (8.9k), SAMSUNG ELECTRONICS AMERICA (784), and WALONG MARKETING INC. (210) were at the forefront of shipping Inorganic chemicals from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Inorganic chemicals exports accounted up to $941M and imports accounted up to $900M, resulting in a positive trade balance of $41.6M. Between February 2023 and February 2024 the exports of South Korea's Inorganic chemicals have decreased by $-702M (-42.7%) from $1.64B to $941M, while imports decreased by $-1.17B (-56.5%) from $2.07B to $900M.

Destinations In February 2024, Inorganic chemicals were exported mostly to China ($270M), Hungary ($240M), United States ($90.4M), Poland ($52M), and Japan ($49.2M), and were imported mostly from China ($535M), Chile ($109M), United States ($75.3M), Japan ($41.8M), and Indonesia ($21.3M).

Growth In February 2024, the decrease in Inorganic chemicals's year-by-year exports was explained primarily by a decrease in exports to Japan ($-21.6M or -35.8%), Vietnam ($-11.5M or -47.5%), and Indonesia ($-3.51M or -15.3%). In February 2024, the decrease in Inorganic chemicals's year-by-year imports was explained primarily by a decrease in imports from Indonesia ($-24.8M or -40.4%), Canada ($-20.7M or -90.9%), and Saudi Arabia ($-15.4M or -27.9%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-702M(-42.7%)

IMPORT GROWTH (February 2023 - February 2024)$-1.17B(-56.5%)

MAIN DESTINATION (February 2024)China$270M

This section shows Inorganic chemicals'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 Inorganic chemicals over time.

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