Beverages, spirits, & vinegar in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $1.1B in Beverages, spirits, & vinegar, making it the 28th largest exporter of Beverages, spirits, & vinegar in the world. At the same year, Beverages, spirits, & vinegar was the 39th most exported product in South Korea. The main destination of Beverages, spirits, & vinegar exports from South Korea are: Japan ($195M), China ($186M), United States ($162M), Vietnam ($98.4M), and Cambodia ($78.8M).

The fastest growing export markets for Beverages, spirits, & vinegar of South Korea between 2021 and 2022 were United States ($28.8M), Vietnam ($27.1M), and Japan ($17.2M).

Imports In 2022, South Korea imported $2.42B in Beverages, spirits, & vinegar, becoming the 15th largest importer of Beverages, spirits, & vinegar in the world. At the same year, Beverages, spirits, & vinegar was the 32nd most imported product in South Korea. South Korea imports Beverages, spirits, & vinegar primarily from: United States ($612M), Brazil ($541M), France ($251M), United Kingdom ($209M), and China ($139M).

The fastest growing import markets in Beverages, spirits, & vinegar for South Korea between 2021 and 2022 were Brazil ($163M), United States ($135M), and United Kingdom ($72.8M).

COMPANIES In 2023, leading companies such as WALONG MARKETING INC. (567), LG ELECTRONICS U.S.A. INC. (534), and DOLLARAMA L.P. (525) were at the forefront of shipping Beverages, spirits, & vinegar from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Beverages, spirits, & vinegar exports accounted up to $86.4M and imports accounted up to $111M, resulting in a negative trade balance of $24.5M. Between February 2023 and February 2024 the exports of South Korea's Beverages, spirits, & vinegar have increased by $1.01M (1.18%) from $85.4M to $86.4M, while imports decreased by $-21.3M (-16.1%) from $132M to $111M.

Destinations In February 2024, Beverages, spirits, & vinegar were exported mostly to China ($17M), United States ($12.3M), Japan ($11.2M), Vietnam ($6.86M), and Hong Kong ($6.65M), and were imported mostly from United States ($21.2M), United Kingdom ($15.5M), Japan ($11.9M), France ($10.6M), and China ($9.77M).

Growth In February 2024, the increase in Beverages, spirits, & vinegar's year-by-year exports was explained primarily by an increase in exports to Hong Kong ($1.3M or 35.1%), Germany ($499k or 372%), and Iraq ($328k or 33.2%). In February 2024, the decrease in Beverages, spirits, & vinegar's year-by-year imports was explained primarily by a decrease in imports from United States ($-2.48M or -6.58%), Pakistan ($-2.07M or -91.2%), and Chile ($-1.7M or -28.9%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$1.01M(1.18%)

IMPORT GROWTH (February 2023 - February 2024)$-21.3M(-16.1%)

MAIN DESTINATION (February 2024)China$17M

This section shows Beverages, spirits, & vinegar'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 Beverages, spirits, & vinegar over time.

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