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2022
Exports $1.1BWorld Rnk 28 / 217
Flag Rnk 39 / 96
2022
Destination $28.8M Japan
2021 - 2022
FASTEST GROWING MARKET $28.8MUnited States
2022
PRODUCT COMPLEXITY IN Beverages, spirits, & vinegar0.2Rnk 488 / 1025
2022
Imports $2.42BWorld Rnk 15 / 225
Flag Rnk 32 / 96
2022
Origin $163M United States
2021 - 2022
FASTEST GROWING ORIGIN $163MBrazil
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

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 (27), Kobrand Wine and Spirits (5), and LG Electronics (4) were at the forefront of shipping Beverages, spirits, & vinegar from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Beverages, spirits, & vinegar exports accounted up to $96.8M and imports accounted up to $140M, resulting in a negative trade balance of $43.4M. Between October 2023 and October 2024 the exports of South Korea's   Beverages, spirits, & vinegar have increased by $15.6M (19.2%) from $81.2M to $96.8M, while imports increased by $1.09M (0.78%) from $139M to $140M.

Destinations In October 2024, Beverages, spirits, & vinegar were exported mostly to China ($21.8M), United States ($14.8M), Japan ($11.2M), Vietnam ($7.69M), and Cambodia ($5.25M), and were imported mostly from United States ($26.2M), United Kingdom ($19.8M), France ($17.9M), Japan ($12.5M), and Italy ($10.2M).

Growth In October 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 October 2024, the increase in Beverages, spirits, & vinegar's year-by-year imports was explained primarily by an increase in imports from France ($3.98M or 24.3%), Japan ($2.97M or 99.3%), and China ($2.61M or 25.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$15.6M(19.2%)
IMPORT GROWTH (October 2023 - October 2024)$1.09M(0.78%)
MAIN DESTINATION (October 2024)China$21.8M

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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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.1B
IMPORTS (2022)$2.42B
NET TRADE (2022)-$1.32B

In 2022, South Korea exported $1.1B in Beverages, spirits, & vinegar. The main destinations of South Korea exports on Beverages, spirits, & vinegar were Japan ($195M), China ($186M), United States ($162M), Vietnam ($98.4M), and Cambodia ($78.8M).

In 2022, South Korea imported $2.42B in Beverages, spirits, & vinegar, mainly from United States ($612M), Brazil ($541M), France ($251M), United Kingdom ($209M), and China ($139M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Beverages, spirits, & vinegar EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$28.8M (21.7%)
Vietnam$27.1M (38%)
Japan$17.2M (9.67%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Beverages, spirits, & vinegar BY South Korea WERE (2021 - 2022):
Singapore-$32.6M (-58.5%)
China-$16.3M (-8.07%)
Philippines-$3.43M (-15.3%)
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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 Beverages, spirits, & vinegar were:
France $22.4B
Italy $12.6B
Mexico $11.8B
In 2022, South Korea's main importing competitors in Beverages, spirits, & vinegar were:
United States $30B
United Kingdom $9.32B
Germany $9.29B

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Trade Value of Beverages, spirits, & vinegar by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $53.9M
TOP IMPORT POTENTIALItaly+ $26.7M

Beverages, spirits, & vinegar’s highest export potential is United States. With an export gap of $53.9M.   Beverages, spirits, & vinegar’s highest import potential is Italy with an import gap of $26.7M.

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