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2022
Exports $13.2kWorld Rnk 0 / 0
Flag Rnk 0 / 0
falsefalseN/A
2023
PRODUCT COMPLEXITY IN Animal Fat0.44Rnk 389 / 1025
2022
Imports $14.6MWorld Rnk 21 / 162
Flag Rnk 841 / 1208
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Imports In 2023, South Korea imported $14.6M in Animal Fat, becoming the 21st largest importer of Animal Fat in the world. At the same year, Animal Fat was the 841st most imported product in South Korea. South Korea imports Animal Fat primarily from: Spain ($9.13M), Netherlands ($1.52M), United States ($1.19M), Belgium ($970k), and Denmark ($806k).

The fastest growing import markets in Animal Fat for South Korea between 2022 and 2023 were Spain ($1.47M), Belgium ($970k), and Netherlands ($910k).

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Animal Fat exports accounted up to $0 and imports accounted up to $1.16M, resulting in a negative trade balance of $1.16M. Between December 2023 and December 2024 the exports of South Korea's   Animal Fat have remained the same by $0 (N/A%) from $0 to $0, while imports decreased by $-1.44M (-55.4%) from $2.59M to $1.16M.

Destinations In December 2024, Animal Fat were exported mostly to Denmark ($0), Spain ($0), and United States ($0), and were imported mostly from Spain ($948k), United States ($209k), and Denmark ($1k).

Growth In December 2024, the change in Animal Fat's year-by-year exports was explained primarily by a decrease in exports to . In December 2024, the decrease in Animal Fat's year-by-year imports was explained primarily by a decrease in imports from United States ($-2.82M or -95.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
IMPORT GROWTH (December 2023 - December 2024)$-1.44M(-55.4%)
MAIN DESTINATION (December 2024)Denmark$0

This section shows Animal Fat'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 Animal Fat over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$13.2k
IMPORTS (2023)$14.6M
NET TRADE (2023)-$14.6M

In 2023, South Korea imported $14.6M in Animal Fat, mainly from Spain ($9.13M), Netherlands ($1.52M), United States ($1.19M), Belgium ($970k), and Denmark ($806k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Animal Fat BY South Korea WERE (N/A - 2022):Hong Kong-$13.2k (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Animal Fat were:
Spain $186M
Germany $121M
Canada $79.1M
In 2023, South Korea's main importing competitors in Animal Fat were:
Philippines $86.9M
Japan $78.5M
Belgium $58.1M

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Trade Value of Animal Fat by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $766
TOP IMPORT POTENTIALNetherlands+ $277k

Animal Fat’s highest export potential is China. With an export gap of $766.   Animal Fat’s highest import potential is Netherlands with an import gap of $277k.

See methodology.

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