Scrap Aluminium in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $79.1M in Scrap Aluminium, making it the 43rd largest exporter of Scrap Aluminium in the world. At the same year, Scrap Aluminium was the 408th most exported product in South Korea. The main destination of Scrap Aluminium exports from South Korea are: China ($18.3M), Saudi Arabia ($17.1M), Hong Kong ($11.5M), Vietnam ($11M), and Japan ($8.5M).

The fastest growing export markets for Scrap Aluminium of South Korea between 2021 and 2022 were Saudi Arabia ($13.3M), China ($11.8M), and Hong Kong ($5.19M).

Imports In 2022, South Korea imported $1.84B in Scrap Aluminium, becoming the 2nd largest importer of Scrap Aluminium in the world. At the same year, Scrap Aluminium was the 53rd most imported product in South Korea. South Korea imports Scrap Aluminium primarily from: United States ($547M), Thailand ($202M), Japan ($166M), Australia ($130M), and Chinese Taipei ($125M).

The fastest growing import markets in Scrap Aluminium for South Korea between 2021 and 2022 were United States ($67.5M), Thailand ($61.6M), and Australia ($36.7M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS USA (3) and WALONG MARKETING INC. (1) were at the forefront of shipping Scrap Aluminium from South Korea to the United States.

Latest Trends

March 2024

About

Overview In March 2024 South Korea's Scrap Aluminium exports accounted up to $7.68M and imports accounted up to $139M, resulting in a negative trade balance of $131M. Between March 2023 and March 2024 the exports of South Korea's Scrap Aluminium have decreased by $-1.13M (-12.8%) from $8.81M to $7.68M, while imports decreased by $-21.9M (-13.6%) from $161M to $139M.

Destinations In March 2024, Scrap Aluminium were exported mostly to China ($1.73M), Vietnam ($1.64M), Thailand ($1.61M), Japan ($548k), and India ($526k), and were imported mostly from United States ($41.3M), Thailand ($14.8M), Japan ($12.7M), Australia ($8.78M), and Chinese Taipei ($5.61M).

Growth In March 2024, the decrease in Scrap Aluminium's year-by-year exports was explained primarily by a decrease in exports to Japan ($-992k or -63.4%), Indonesia ($-670k or -100%), and Thailand ($-295k or -82.6%). In March 2024, the decrease in Scrap Aluminium's year-by-year imports was explained primarily by a decrease in imports from United States ($-16.3M or -33.3%), Mexico ($-7.57M or -88.6%), and Canada ($-7.17M or -53.1%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-1.13M(-12.8%)

IMPORT GROWTH (March 2023 - March 2024)$-21.9M(-13.6%)

MAIN DESTINATION (March 2024)China$1.73M

This section shows Scrap Aluminium'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 Scrap Aluminium over time.

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