Precious Metal Scraps in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $145M in Precious Metal Scraps, making it the 29th largest exporter of Precious Metal Scraps in the world. At the same year, Precious Metal Scraps was the 325th most exported product in South Korea. The main destination of Precious Metal Scraps exports from South Korea are: United Kingdom ($52.3M), Japan ($49.7M), Germany ($19.2M), Italy ($11.5M), and Singapore ($2.97M).

The fastest growing export markets for Precious Metal Scraps of South Korea between 2021 and 2022 were United Kingdom ($22.3M), Singapore ($2.59M), and Hong Kong ($2.46M).

Imports In 2022, South Korea imported $572M in Precious Metal Scraps, becoming the 13th largest importer of Precious Metal Scraps in the world. At the same year, Precious Metal Scraps was the 174th most imported product in South Korea. South Korea imports Precious Metal Scraps primarily from: Australia ($132M), Poland ($132M), United Arab Emirates ($89M), India ($49.9M), and Indonesia ($49.3M).

The fastest growing import markets in Precious Metal Scraps for South Korea between 2021 and 2022 were Australia ($89.7M), United Arab Emirates ($72.1M), and Indonesia ($49.2M).

Latest Trends

March 2024

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Overview In March 2024 South Korea's Precious Metal Scraps exports accounted up to $16.9M and imports accounted up to $78M, resulting in a negative trade balance of $61.1M. Between March 2023 and March 2024 the exports of South Korea's Precious Metal Scraps have decreased by $-11.9M (-41.4%) from $28.7M to $16.9M, while imports increased by $15.2M (24.2%) from $62.8M to $78M.

Destinations In March 2024, Precious Metal Scraps were exported mostly to Japan ($5.93M), Singapore ($4.62M), Germany ($3.29M), Italy ($1.27M), and United Arab Emirates ($930k), and were imported mostly from Australia ($52.4M), Japan ($5.93M), India ($4.79M), Zambia ($2.51M), and United Arab Emirates ($2.42M).

Growth In March 2024, the decrease in Precious Metal Scraps's year-by-year exports was explained primarily by a decrease in exports to Germany ($-6.14M or -73.2%), Japan ($-3.42M or -41.6%), and Singapore ($-2.01M or -13.6%). In March 2024, the increase in Precious Metal Scraps's year-by-year imports was explained primarily by an increase in imports from China ($47.1M or 2.46k%), Spain ($9.72M or 90.7%), and United Arab Emirates ($9.41M or 1.28k%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-11.9M(-41.4%)

IMPORT GROWTH (March 2023 - March 2024)$15.2M(24.2%)

MAIN DESTINATION (March 2024)Japan$5.93M

This section shows Precious Metal Scraps'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 Precious Metal Scraps over time.

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