Did South Korea’s imports decrease or increase in the first six months of 2021?
Imports of finished marble, granite and ceramics products from South Korea show signs of recovery in the first semester of 2021. COVID-19 pandemic mitigation measures, imposed and maintained by the authorities, are slowing down the growth rate of imports. However, the growth trajectory of the economy and the increase in government spending to deal with the effects of the pandemic are expected to boost South Korean imports.
According to statistics, imports of ceramics increased more than finished marble and granite products. The following table shows the changes (%) in the value of South Korean imports between the first six months of 2020 – 2021:
The 4.47% increase in the value of imports of finished granite products is low given that South Korea is the second largest exporter in the world. In the imports of finished marble products, the increase of 10.27% is far from 24.20% of the ceramics.
Imports of finished marble products from South Korea in the first three months of 2021 reached $ 74 million, granite $ 239 million and ceramics $ 202 million.
*The statistics are derived from the analysis of the Tariff Class Codes – Harmonized System (HS) Codes:
680221: Marble, travertine and alabaster articles thereof, simply cut or sawn, with a flat or even surface (excl. With a completely or partly planed, sand-dressed, coarsely or finely ground or polished surface, tiles, cubes and similar articles of subheading 6802.10, setts, curbstones and flagstones).
680291: Marble, travertine and alabaster, in any form (excl. Tiles, cubes and similar articles of subheading 6802.10, imitation jewelery, clocks, lamps and lighting fittings and parts thereof, buttons, original sculptures and statuary, setts, curbstones and flagstones) .
680223: Granite and articles thereof, simply cut or sawn, with a flat or even surface (excluding with a completely or partly planed, sand-dressed, coarsely or finely ground or polished surface, tiles, cubes and similar articles of subheading 6802 10 00 , setts, curbstones and flagstones).
680293: Granite, in any form, polished, decorated or otherwise worked (excluding tiles, cubes and similar articles of subheading 6802.10, imitation jewelery, clocks, lamps and lighting fittings and parts thereof, original sculptures and statuary, setts, curbstones and flagstones) .
6907: Ceramic flags and paving, hearth or wall tiles; ceramic mosaic cubes and the like, whether or not on a backing (excl. of siliceous fossil meals or similar siliceous earths, refractory goods, tiles specially adapted as table mats, ornamental articles and tiles specifically manufactured for stoves).
*Due to consistent data flow, statistics may alter during the year
For more statistics contact [email protected]
