Scrap Iron in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $317M in Scrap Iron, making it the 32nd largest exporter of Scrap Iron in the world. At the same year, Scrap Iron was the 209th most exported product in South Korea. The main destination of Scrap Iron exports from South Korea are: India ($113M), Japan ($85.2M), China ($63.9M), Chinese Taipei ($26.7M), and Thailand ($14.6M).

The fastest growing export markets for Scrap Iron of South Korea between 2021 and 2022 were Japan ($13.7M), China ($8.55M), and Chinese Taipei ($6.44M).

Imports In 2022, South Korea imported $2.64B in Scrap Iron, becoming the 4th largest importer of Scrap Iron in the world. At the same year, Scrap Iron was the 32nd most imported product in South Korea. South Korea imports Scrap Iron primarily from: Japan ($1.69B), United States ($291M), Russia ($148M), Thailand ($143M), and Chinese Taipei ($94.3M).

The fastest growing import markets in Scrap Iron for South Korea between 2021 and 2022 were Australia ($51.3M), Philippines ($21.5M), and Vietnam ($8.82M).

COMPANIES In 2023, leading companies such as SAMSUNG ELECTRONICS AMERICA (2.84k), SIGMA CORPORATION (780), and AT HOME PROCUREMENT INC (156) were at the forefront of shipping Scrap Iron from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Scrap Iron exports accounted up to $17.5M and imports accounted up to $120M, resulting in a negative trade balance of $102M. Between February 2023 and February 2024 the exports of South Korea's Scrap Iron have decreased by $-11.1M (-38.9%) from $28.6M to $17.5M, while imports decreased by $-81.7M (-40.6%) from $201M to $120M.

Destinations In February 2024, Scrap Iron were exported mostly to India ($6.45M), China ($3.32M), Japan ($2.19M), Thailand ($1.7M), and Chinese Taipei ($1.68M), and were imported mostly from Japan ($84.3M), Thailand ($12.6M), Chinese Taipei ($6.15M), Russia ($5.78M), and United States ($4.3M).

Growth In February 2024, the decrease in Scrap Iron's year-by-year exports was explained primarily by a decrease in exports to Japan ($-1.69M or -21.1%), Thailand ($-215k or -17.1%), and Hong Kong ($-28k or -100%). In February 2024, the decrease in Scrap Iron's year-by-year imports was explained primarily by a decrease in imports from United States ($-19.3M or -69.9%), Chinese Taipei ($-16.2M or -99%), and Australia ($-14.1M or -95.4%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-11.1M(-38.9%)

IMPORT GROWTH (February 2023 - February 2024)$-81.7M(-40.6%)

MAIN DESTINATION (February 2024)India$6.45M

This section shows Scrap Iron'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 Iron over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$317M

IMPORTS (2022)$2.64B

NET TRADE (2022)-$2.33B

In 2022, South Korea exported $317M in Scrap Iron. The main destinations of South Korea exports on Scrap Iron were India ($113M), Japan ($85.2M), China ($63.9M), Chinese Taipei ($26.7M), and Thailand ($14.6M).

In 2022, South Korea imported $2.64B in Scrap Iron, mainly from Japan ($1.69B), United States ($291M), Russia ($148M), Thailand ($143M), and Chinese Taipei ($94.3M).

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