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2022
Exports $503kWorld Rnk 56 / 132
Flag Rnk 1039 / 1204
2022
Destination $122k United States
2021 - 2022
FASTEST GROWING MARKET $122kUnited States
2022
PRODUCT COMPLEXITY IN Oil Seed Flower-0.94Rnk 826 / 1025
2022
Imports $73.8MWorld Rnk 3 / 195
Flag Rnk 581 / 1213
2022
Origin $2.22M China
2021 - 2022
FASTEST GROWING ORIGIN $2.22MVietnam
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $503k in Oil Seed Flower, making it the 56th largest exporter of Oil Seed Flower in the world. At the same year, Oil Seed Flower was the 1039th most exported product in South Korea. The main destination of Oil Seed Flower exports from South Korea are: United States ($278k), Japan ($56.2k), China ($39.3k), Canada ($30.7k), and United Arab Emirates ($22.9k).

The fastest growing export markets for Oil Seed Flower of South Korea between 2021 and 2022 were United States ($122k), Vietnam ($18.6k), and United Arab Emirates ($10.6k).

Imports In 2022, South Korea imported $73.8M in Oil Seed Flower, becoming the 3rd largest importer of Oil Seed Flower in the world. At the same year, Oil Seed Flower was the 581st most imported product in South Korea. South Korea imports Oil Seed Flower primarily from: China ($56.8M), Vietnam ($8.99M), India ($7.04M), United States ($581k), and Singapore ($163k).

The fastest growing import markets in Oil Seed Flower for South Korea between 2021 and 2022 were Vietnam ($2.22M), China ($704k), and Singapore ($163k).

COMPANIES In 2023, leading companies such as Wismettac Asian Foods (7) were at the forefront of shipping Oil Seed Flower from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Oil Seed Flower exports accounted up to $33k and imports accounted up to $4.76M, resulting in a negative trade balance of $4.73M. Between July 2023 and July 2024 the exports of South Korea's   Oil Seed Flower have increased by $13k (65%) from $20k to $33k, while imports decreased by $-1.07M (-18.3%) from $5.83M to $4.76M.

Destinations In July 2024, Oil Seed Flower were exported mostly to United States ($28k), Australia ($3k), Canada ($1k), New Zealand ($1k), and China ($0), and were imported mostly from China ($4.16M), India ($595k), Vietnam ($3k), United States ($1k), and Hong Kong ($0).

Growth In July 2024, the increase in Oil Seed Flower's year-by-year exports was explained primarily by an increase in exports to . In July 2024, the decrease in Oil Seed Flower's year-by-year imports was explained primarily by a decrease in imports from India ($-622k or -59.1%) and United States ($-1k or -33.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$13k(65%)
IMPORT GROWTH (July 2023 - July 2024)$-1.07M(-18.3%)
MAIN DESTINATION (July 2024)United States$28k

This section shows Oil Seed Flower'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 Oil Seed Flower over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$503k
IMPORTS (2022)$73.8M
NET TRADE (2022)-$73.3M

In 2022, South Korea exported $503k in Oil Seed Flower. The main destinations of South Korea exports on Oil Seed Flower were United States ($278k), Japan ($56.2k), China ($39.3k), Canada ($30.7k), and United Arab Emirates ($22.9k).

In 2022, South Korea imported $73.8M in Oil Seed Flower, mainly from China ($56.8M), Vietnam ($8.99M), India ($7.04M), United States ($581k), and Singapore ($163k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Oil Seed Flower EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$122k (78.6%)
Vietnam$18.6k (3.5k%)
United Arab Emirates$10.6k (85.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Oil Seed Flower BY South Korea WERE (2021 - 2022):
China-$112k (-74%)
Hong Kong-$8.18k (-100%)
Australia-$6.27k (-26.5%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Oil Seed Flower were:
United States $412M
Italy $139M
China $66.2M
In 2022, South Korea's main importing competitors in Oil Seed Flower were:
Vietnam $132M
Japan $79.5M

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Trade Value of Oil Seed Flower by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALVietnam+ $27.6k
TOP IMPORT POTENTIALUnited States+ $1.08M

Oil Seed Flower’s highest export potential is Vietnam. With an export gap of $27.6k.   Oil Seed Flower’s highest import potential is United States with an import gap of $1.08M.

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