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2022
Exports $198kWorld Rnk 95 / 161
Flag Rnk 1090 / 1204
2022
Destination $99.9k Philippines
2021 - 2022
FASTEST GROWING MARKET $99.9kPhilippines
2022
PRODUCT COMPLEXITY IN Bananas-1.99Rnk 1001 / 1025
2022
Imports $247MWorld Rnk 14 / 196
Flag Rnk 311 / 1213
2022
Origin $9.76M Philippines
2021 - 2022
FASTEST GROWING ORIGIN $9.76MVietnam
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $198k in Bananas, making it the 95th largest exporter of Bananas in the world. At the same year, Bananas was the 1090th most exported product in South Korea. The main destination of Bananas exports from South Korea are: Philippines ($186k), Hong Kong ($6.62k), Mongolia ($3.85k), Chinese Taipei ($1.01k), and Singapore ($617).

The fastest growing export markets for Bananas of South Korea between 2021 and 2022 were Philippines ($99.9k), Hong Kong ($2.44k), and Mongolia ($1.97k).

Imports In 2022, South Korea imported $247M in Bananas, becoming the 14th largest importer of Bananas in the world. At the same year, Bananas was the 311th most imported product in South Korea. South Korea imports Bananas primarily from: Philippines ($197M), Vietnam ($18.1M), Colombia ($9.37M), Peru ($8.68M), and Ecuador ($7.55M).

The fastest growing import markets in Bananas for South Korea between 2021 and 2022 were Vietnam ($9.76M), Nicaragua ($41.4k), and Japan ($34).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Bananas exports accounted up to $2k and imports accounted up to $27.4M, resulting in a negative trade balance of $27.4M. Between October 2023 and October 2024 the exports of South Korea's   Bananas have decreased by $-6k (-75%) from $8k to $2k, while imports increased by $2.86M (11.6%) from $24.6M to $27.4M.

Destinations In October 2024, Bananas were exported mostly to Hong Kong ($1k), Mongolia ($1k), Uganda ($0), Indonesia ($0), and Cambodia ($0), and were imported mostly from Philippines ($16.2M), Vietnam ($5.74M), Ecuador ($2.82M), Guatemala ($909k), and Peru ($866k).

Growth In October 2024, the decrease in Bananas's year-by-year exports was explained primarily by a decrease in exports to Philippines ($-10k or -100%). In October 2024, the increase in Bananas's year-by-year imports was explained primarily by an increase in imports from Philippines ($2.69M or 21.4%), Guatemala ($1.2M or 497%), and Vietnam ($591k or 122%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-6k(-75%)
IMPORT GROWTH (October 2023 - October 2024)$2.86M(11.6%)
MAIN DESTINATION (October 2024)Hong Kong$1k

This section shows Bananas'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 Bananas over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$198k
IMPORTS (2022)$247M
NET TRADE (2022)-$247M

In 2022, South Korea exported $198k in Bananas. The main destinations of South Korea exports on Bananas were Philippines ($186k), Hong Kong ($6.62k), Mongolia ($3.85k), Chinese Taipei ($1.01k), and Singapore ($617).

In 2022, South Korea imported $247M in Bananas, mainly from Philippines ($197M), Vietnam ($18.1M), Colombia ($9.37M), Peru ($8.68M), and Ecuador ($7.55M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Bananas EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Philippines$99.9k (116%)
Hong Kong$2.44k (58.4%)
Mongolia$1.97k (105%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Bananas BY South Korea WERE (2021 - 2022):
Burma-$1.27k (-100%)
Macau-$171 (-100%)
Switzerland-$123 (-100%)
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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 Bananas were:
Ecuador $3.68B
Philippines $1.41B
Costa Rica $1.22B
In 2022, South Korea's main importing competitors in Bananas were:
United States $2.7B
China $1.06B
Japan $797M

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Trade Value of Bananas by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALHong Kong+ $8.11k
TOP IMPORT POTENTIALEcuador+ $6.98M

Bananas’s highest export potential is Hong Kong. With an export gap of $8.11k.   Bananas’s highest import potential is Ecuador with an import gap of $6.98M.

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