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South Korea PP export to China - a 0.8% decrease in weight but 8% growth in value

South Korea PP export to China - a 0.8% decrease in weight but 8% growth in value2019.05.22

Polypropylene (PP) is one of the common polymer materials with high impact resistance, strong mechanical properties, and strong resistance to a variety of organic solvents and acid and alkali corrosion. And South Korea is a major PP exporter in the world.


According the ITC data, South Korea is the second largest exporter of PP (390210 Polypropylene, in primary forms) in both export value and weight in 2018. In 2018 South Korea has exported 1,741,316 MT of PP to the world, and the export value accounted for 9.1% of the world’s PP export value, only second to Saudi Arabia.




(Data Source: ITC)



(Data Source: ITC)


In the past five years, the polypropylene exported from South Korea has showed a steady increase, increasing by 39.8% from 1,245,465 MT in 2014.


(Data Source: ITC)


China is the world’s largest market for polypropylene demand, and it highly depends on PP import from other countries. According to Korean Customs, China has imported a total of 666,530 MT of PP from South Korea in 2018, accounting for 37.5% of the total South Korea’s PP export value. China is the largest PP importer from South Korea, followed by Vietnam, Turkey, and other countries.



(Data Source: ITC)



According to the Korean Customs, South Korea’s PP exported to China showed a stable increase in export weight from 2014 to 2017, and in 2018, it showed slight decrease of 0.8% YoY.




(Data Source: Korea Customs)


The export price is affected by many factors, therefore, the PP export value in the past five years has showed a different path, namely a decrease from 2014 to 2016 and then an increase in 2017 and 2018. Though the PP export weight from South Korea showed a decrease, but the export value has got a 8% growth. 




(Data Source: Korea Customs)



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