Ferroalloys in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $1.49B in Ferroalloys, making it the 10th largest exporter of Ferroalloys in the world. At the same year, Ferroalloys was the 75th most exported product in South Korea. The main destination of Ferroalloys exports from South Korea are: Netherlands ($308M), China ($259M), United States ($200M), India ($184M), and Chinese Taipei ($74.5M).

The fastest growing export markets for Ferroalloys of South Korea between 2021 and 2022 were China ($118M), United States ($111M), and India ($34.6M).

Imports In 2022, South Korea imported $2.17B in Ferroalloys, becoming the 6th largest importer of Ferroalloys in the world. At the same year, Ferroalloys was the 41st most imported product in South Korea. South Korea imports Ferroalloys primarily from: China ($473M), Brazil ($246M), India ($232M), Russia ($177M), and Dominican Republic ($175M).

The fastest growing import markets in Ferroalloys for South Korea between 2021 and 2022 were Dominican Republic ($175M), China ($117M), and Guatemala ($69.9M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS USA (9), GENERAL MOTORS LLC (2), and LOREAL USA (1) were at the forefront of shipping Ferroalloys from South Korea to the United States.

Latest Trends

March 2024

About

Overview In March 2024 South Korea's Ferroalloys exports accounted up to $89.9M and imports accounted up to $143M, resulting in a negative trade balance of $53.1M. Between March 2023 and March 2024 the exports of South Korea's Ferroalloys have decreased by $-34.9M (-27.9%) from $125M to $89.9M, while imports decreased by $-39M (-21.4%) from $182M to $143M.

Destinations In March 2024, Ferroalloys were exported mostly to China ($31M), Netherlands ($27.1M), Chinese Taipei ($7.62M), United States ($6.96M), and Indonesia ($3.61M), and were imported mostly from India ($25.5M), Brazil ($21M), China ($20.4M), South Africa ($13.8M), and Indonesia ($13.1M).

Growth In March 2024, the decrease in Ferroalloys's year-by-year exports was explained primarily by a decrease in exports to United States ($-16.7M or -62.5%), India ($-13M or -72.1%), and Brazil ($-8.05M or -91%). In March 2024, the decrease in Ferroalloys's year-by-year imports was explained primarily by a decrease in imports from China ($-38.5M or -57.8%), India ($-32M or -92.9%), and South Africa ($-24M or -68.7%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-34.9M(-27.9%)

IMPORT GROWTH (March 2023 - March 2024)$-39M(-21.4%)

MAIN DESTINATION (March 2024)China$31M

This section shows Ferroalloys'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 Ferroalloys over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$1.49B

IMPORTS (2022)$2.17B

NET TRADE (2022)-$683M

In 2022, South Korea exported $1.49B in Ferroalloys. The main destinations of South Korea exports on Ferroalloys were Netherlands ($308M), China ($259M), United States ($200M), India ($184M), and Chinese Taipei ($74.5M).

In 2022, South Korea imported $2.17B in Ferroalloys, mainly from China ($473M), Brazil ($246M), India ($232M), Russia ($177M), and Dominican Republic ($175M).

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