Rubber in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $6.09M in Rubber, making it the 44th largest exporter of Rubber in the world. At the same year, Rubber was the 799th most exported product in South Korea. The main destination of Rubber exports from South Korea are: United States ($2.86M), India ($1.01M), Vietnam ($744k), China ($557k), and Bangladesh ($261k).

The fastest growing export markets for Rubber of South Korea between 2021 and 2022 were India ($1M), United States ($715k), and Finland ($177k).

Imports In 2022, South Korea imported $702M in Rubber, becoming the 7th largest importer of Rubber in the world. At the same year, Rubber was the 153rd most imported product in South Korea. South Korea imports Rubber primarily from: Thailand ($388M), Indonesia ($166M), Vietnam ($76.2M), Cambodia ($27.3M), and Philippines ($24.9M).

The fastest growing import markets in Rubber for South Korea between 2021 and 2022 were Thailand ($172M), Philippines ($13.6M), and Cambodia ($9.55M).

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

Latest Trends

March 2024

About

Overview In March 2024 South Korea's Rubber exports accounted up to $946k and imports accounted up to $29.6M, resulting in a negative trade balance of $28.7M. Between March 2023 and March 2024 the exports of South Korea's Rubber have increased by $901k (2k%) from $45k to $946k, while imports decreased by $-3.41M (-10.3%) from $33M to $29.6M.

Destinations In March 2024, Rubber were exported mostly to China ($896k), Vietnam ($27k), Argentina ($23k), Indonesia ($0), and Japan ($0), and were imported mostly from Thailand ($15.6M), Indonesia ($6.48M), Vietnam ($3.38M), Cambodia ($2.1M), and Malaysia ($869k).

Growth In March 2024, the increase in Rubber's year-by-year exports was explained primarily by an increase in exports to . In March 2024, the decrease in Rubber's year-by-year imports was explained primarily by a decrease in imports from Thailand ($-7.2M or -27.3%), Vietnam ($-5M or -52.7%), and Indonesia ($-842k or -5.89%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$901k(2k%)

IMPORT GROWTH (March 2023 - March 2024)$-3.41M(-10.3%)

MAIN DESTINATION (March 2024)China$896k

This section shows Rubber'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 Rubber over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$6.09M

IMPORTS (2022)$702M

NET TRADE (2022)-$696M

In 2022, South Korea exported $6.09M in Rubber. The main destinations of South Korea exports on Rubber were United States ($2.86M), India ($1.01M), Vietnam ($744k), China ($557k), and Bangladesh ($261k).

In 2022, South Korea imported $702M in Rubber, mainly from Thailand ($388M), Indonesia ($166M), Vietnam ($76.2M), Cambodia ($27.3M), and Philippines ($24.9M).

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