Butter in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $86.2k in Butter, making it the 99th largest exporter of Butter in the world. At the same year, Butter was the 1127th most exported product in South Korea. The main destination of Butter exports from South Korea are: Russia ($39.2k), Hong Kong ($38.5k), Philippines ($3.99k), Macau ($1.64k), and United Arab Emirates ($1.07k).

The fastest growing export markets for Butter of South Korea between 2021 and 2022 were Russia ($39.2k), Philippines ($3.99k), and Macau ($1.64k).

Imports In 2022, South Korea imported $167M in Butter, becoming the 18th largest importer of Butter in the world. At the same year, Butter was the 403rd most imported product in South Korea. South Korea imports Butter primarily from: France ($59.4M), New Zealand ($46M), United States ($30.1M), Germany ($8.78M), and Denmark ($5.94M).

The fastest growing import markets in Butter for South Korea between 2021 and 2022 were United States ($16.8M), New Zealand ($13.7M), and France ($5.6M).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Butter exports accounted up to $9k and imports accounted up to $20M, resulting in a negative trade balance of $20M. Between July 2023 and July 2024 the exports of South Korea's Butter have decreased by $-1k (-10%) from $10k to $9k, while imports increased by $4.72M (31%) from $15.2M to $20M.

Destinations In July 2024, Butter were exported mostly to Hong Kong ($9k), United Arab Emirates ($0), China ($0), India ($0), and Japan ($0), and were imported mostly from France ($5.98M), New Zealand ($5.33M), Australia ($3.53M), United States ($1.39M), and Germany ($1.33M).

Growth In July 2024, the decrease in Butter's year-by-year exports was explained primarily by a decrease in exports to . In July 2024, the increase in Butter's year-by-year imports was explained primarily by an increase in imports from New Zealand ($7.18M or 141%), France ($2.05M or 47.1%), and Belgium ($493k or 250%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (July 2023 - July 2024)$-1k(-10%)

IMPORT GROWTH (July 2023 - July 2024)$4.72M(31%)

MAIN DESTINATION (July 2024)Hong Kong$9k

This section shows Butter'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 Butter over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$86.2k

IMPORTS (2022)$167M

NET TRADE (2022)-$167M

In 2022, South Korea exported $86.2k in Butter. The main destinations of South Korea exports on Butter were Russia ($39.2k), Hong Kong ($38.5k), Philippines ($3.99k), Macau ($1.64k), and United Arab Emirates ($1.07k).

In 2022, South Korea imported $167M in Butter, mainly from France ($59.4M), New Zealand ($46M), United States ($30.1M), Germany ($8.78M), and Denmark ($5.94M).

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