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2023
Exports $615kWorld Rnk 72 / 150
Flag Rnk 985 / 1188
2023
Destination $70.2k United States
2022 - 2023
FASTEST GROWING MARKET $70.2kUnited Kingdom
2023
PRODUCT COMPLEXITY IN Cereal Meal and Pellets-1.13Rnk 861 / 1025
2023
Imports $3.52MWorld Rnk 70 / 210
Flag Rnk 1036 / 1208
2023
Origin $655k India
2022 - 2023
FASTEST GROWING ORIGIN $655kItaly
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $615k in Cereal Meal and Pellets, making it the 72nd largest exporter of Cereal Meal and Pellets in the world. At the same year, Cereal Meal and Pellets was the 985th most exported product in South Korea. The main destination of Cereal Meal and Pellets exports from South Korea are: United States ($332k), United Kingdom ($147k), Singapore ($46.7k), Canada ($34.8k), and Indonesia ($27.7k).

The fastest growing export markets for Cereal Meal and Pellets of South Korea between 2022 and 2023 were United Kingdom ($70.2k), Indonesia ($27.7k), and Canada ($15.4k).

Imports In 2023, South Korea imported $3.52M in Cereal Meal and Pellets, becoming the 70th largest importer of Cereal Meal and Pellets in the world. At the same year, Cereal Meal and Pellets was the 1036th most imported product in South Korea. South Korea imports Cereal Meal and Pellets primarily from: India ($1.09M), Italy ($828k), France ($544k), Malaysia ($330k), and Turkey ($230k).

The fastest growing import markets in Cereal Meal and Pellets for South Korea between 2022 and 2023 were Italy ($655k), Canada ($199k), and Turkey ($196k).

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Cereal Meal and Pellets exports accounted up to $27k and imports accounted up to $145k, resulting in a negative trade balance of $118k. Between December 2023 and December 2024 the exports of South Korea's   Cereal Meal and Pellets have decreased by $-56k (-67.5%) from $83k to $27k, while imports decreased by $-121k (-45.5%) from $266k to $145k.

Destinations In December 2024, Cereal Meal and Pellets were exported mostly to Vietnam ($15k), United States ($7k), Canada ($4k), Australia ($1k), and China ($0), and were imported mostly from India ($107k), Turkey ($31k), Italy ($4k), Germany ($2k), and China ($1k).

Growth In December 2024, the decrease in Cereal Meal and Pellets's year-by-year exports was explained primarily by a decrease in exports to Malaysia ($-5k or -100%). In December 2024, the decrease in Cereal Meal and Pellets's year-by-year imports was explained primarily by a decrease in imports from United States ($-47k or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-56k(-67.5%)
IMPORT GROWTH (December 2023 - December 2024)$-121k(-45.5%)
MAIN DESTINATION (December 2024)Vietnam$15k

This section shows Cereal Meal and Pellets'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 Cereal Meal and Pellets over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$615k
IMPORTS (2023)$3.52M
NET TRADE (2023)-$2.9M

In 2023, South Korea exported $615k in Cereal Meal and Pellets. The main destinations of South Korea exports on Cereal Meal and Pellets were United States ($332k), United Kingdom ($147k), Singapore ($46.7k), Canada ($34.8k), and Indonesia ($27.7k).

In 2023, South Korea imported $3.52M in Cereal Meal and Pellets, mainly from India ($1.09M), Italy ($828k), France ($544k), Malaysia ($330k), and Turkey ($230k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Cereal Meal and Pellets EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
United Kingdom$70.2k (90.8%)
Indonesia$27.7k (1%)
Canada$15.4k (79.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cereal Meal and Pellets BY South Korea WERE (2022 - 2023):
Malaysia-$856k (-99.9%)
United States-$229k (-40.8%)
Japan-$104k (-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 Cereal Meal and Pellets were:
Canada $188M
South Africa $144M
Italy $132M
In 2023, South Korea's main importing competitors in Cereal Meal and Pellets were:
United States $211M
Democratic Republic of the Congo $85.5M
France $75.4M

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Trade Value of Cereal Meal and Pellets by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $234k
TOP IMPORT POTENTIALIndia+ $248k

Cereal Meal and Pellets’s highest export potential is United States. With an export gap of $234k.   Cereal Meal and Pellets’s highest import potential is India with an import gap of $248k.

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