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Where does South Korea get its steel? Import sources 2024

In 2024, South Korea imported $10.5 billion of steel (13.5 million tonnes), 3% of the world total. China sold 51% of the total, followed by Japan (31%) and Vietnam (4%). South Korea was the world’s 10th-largest importer of steel.

Summary

Value
$10.5billion
Tonnes
13.5million tonnes
Share of world total
3%
World rank
10th
Routes from the main sources. Width: value; color: estimated transport mode.SeaAirLand

Sources

The 20 main sources in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
China5.3Tonnes: 7,731,811USD per tonne: $69050.9%Sea
Japan3.2Tonnes: 4,636,695USD per tonne: $70031%Sea
Vietnam0.4Tonnes: 326,589USD per tonne: $1,2203.8%Sea
Taiwan0.34Tonnes: 195,363USD per tonne: $1,7303.2%Sea
Indonesia0.24Tonnes: 140,593USD per tonne: $1,6762.3%Sea
France0.16Tonnes: 13,890USD per tonne: $11,7301.6%Sea
India0.16Tonnes: 66,697USD per tonne: $2,3911.5%Sea
Sweden0.1Tonnes: 32,628USD per tonne: $3,2181%Sea
United States0.08Tonnes: 10,071USD per tonne: $8,3600.8%Sea
Germany0.07Tonnes: 14,517USD per tonne: $4,6660.65%Sea
Belgium re-exports0.05Tonnes: 15,692USD per tonne: $2,9870.45%Sea
Egypt0.05Tonnes: 53,235USD per tonne: $8720.44%Sea
Malaysia0.04Tonnes: 39,073USD per tonne: $1,0780.4%Sea
Brazil0.04Tonnes: 57,088USD per tonne: $6450.35%Sea
Finland0.02Tonnes: 8,275USD per tonne: $2,8250.22%Sea
Italy0.02Tonnes: 4,201USD per tonne: $4,6650.19%Sea
Russia0.02Tonnes: 35,470USD per tonne: $5300.18%Sea
Thailand0.02Tonnes: 22,244USD per tonne: $7980.17%Sea
Hong Kong re-exports0.01Tonnes: 17,458USD per tonne: $7290.12%Sea
Austria0.01Tonnes: 2,310USD per tonne: $5,3550.12%Sea

Trend

Who it buys from

China has been its main source since 2012

Value in USD billions. The five largest sources in 2024.

  • China 5.3
  • Japan 3.2
  • Vietnam 0.4
  • Taiwan 0.34
  • Indonesia 0.24

Source: CEPII BACI

Show the numbers
Partner19952024
China0.865.3
Japan1.93.2
Vietnam00.4
Taiwan0.130.34
Indonesia0.020.24

Sources and methodology

Other products of this country

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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