2022
Exports
$333MWorld Rnk 29 / 210
Flag Rnk 204 / 1204
2022
PRODUCT COMPLEXITY IN Baked Goods
-0.32Rnk 655 / 1025
2022
Imports
$358MWorld Rnk 30 / 226
Flag Rnk 242 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $333M in Baked Goods, making it the 29th largest exporter of Baked Goods in the world. At the same year, Baked Goods was the 204th most exported product in South Korea. The main destination of Baked Goods exports from South Korea are: United States ($101M), Japan ($28.7M), China ($26.8M), Chinese Taipei ($21.1M), and Hong Kong ($20M).

The fastest growing export markets for Baked Goods of South Korea between 2021 and 2022 were Japan ($6.59M), Thailand ($3.01M), and Kuwait ($2.67M).

Imports In 2022, South Korea imported $358M in Baked Goods, becoming the 30th largest importer of Baked Goods in the world. At the same year, Baked Goods was the 242nd most imported product in South Korea. South Korea imports Baked Goods primarily from: Malaysia ($62M), United States ($54.7M), China ($35.1M), Vietnam ($32.4M), and France ($24.6M).

The fastest growing import markets in Baked Goods for South Korea between 2021 and 2022 were Malaysia ($9.54M), Vietnam ($8.44M), and United States ($3.97M).

COMPANIES In 2023, leading companies such as CJ Foods (156), Walong Marketing (8), and Wismettac Asian Foods (4) were at the forefront of shipping Baked Goods from South Korea to the United States.

Latest Trends

July 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$5.61M(17.4%)
IMPORT GROWTH (July 2023 - July 2024)$12.9M(37.5%)
MAIN DESTINATION (July 2024)United States$12.1M

This section shows Baked Goods'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 Baked Goods over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$333M
IMPORTS (2022)$358M
NET TRADE (2022)-$25.4M

In 2022, South Korea exported $333M in Baked Goods. The main destinations of South Korea exports on Baked Goods were United States ($101M), Japan ($28.7M), China ($26.8M), Chinese Taipei ($21.1M), and Hong Kong ($20M).

In 2022, South Korea imported $358M in Baked Goods, mainly from Malaysia ($62M), United States ($54.7M), China ($35.1M), Vietnam ($32.4M), and France ($24.6M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Baked Goods EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Japan$6.59M (29.8%)
Thailand$3.01M (94.5%)
Kuwait$2.67M (150%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Baked Goods BY South Korea WERE (2021 - 2022):
China-$9.89M (-26.9%)
Philippines-$4M (-45.3%)
Chinese Taipei-$3.16M (-13%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Baked Goods were:
Germany $4.92B
Canada $4.75B
Italy $3.5B
In 2022, South Korea's main importing competitors in Baked Goods were:

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Trade Value of Baked Goods by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $24M
TOP IMPORT POTENTIALChina+ $13M

Baked Goods’s highest export potential is United States. With an export gap of $24M.   Baked Goods’s highest import potential is China with an import gap of $13M.

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