Cereals in South Korea | The Observatory of Economic Complexity

About

Exports In 2021, South Korea exported $24.1M in Cereals, making it the 71st largest exporter of Cereals in the world. At the same year, Cereals was the 87th most exported product in South Korea. The main destination of Cereals exports from South Korea are: Yemen ($5.8M), Ethiopia ($4.67M), Kenya ($2.32M), Laos ($2.05M), and United States ($1.99M).

The fastest growing export markets for Cereals of South Korea between 2020 and 2021 were Ethiopia ($3.89M), Laos ($2.05M), and Turkey ($700k).

Imports In 2021, South Korea imported $4.55B in Cereals, becoming the 6th largest importer of Cereals in the world. At the same year, Cereals was the 22nd most imported product in South Korea. South Korea imports Cereals primarily from: United States ($1.47B), Argentina ($1.14B), Australia ($374M), Brazil ($249M), and China ($188M).

The fastest growing import markets in Cereals for South Korea between 2020 and 2021 were Argentina ($706M), United States ($374M), and Bulgaria ($143M).

Latest Trends

October 2023

About

Overview In October 2023 South Korea's Cereals exports accounted up to $2.95M and imports accounted up to $477M, resulting in a negative trade balance of $474M. Between October 2022 and October 2023 the exports of South Korea's Cereals have increased by $557k (23.3%) from $2.39M to $2.95M, while imports decreased by $-72M (-13.1%) from $549M to $477M.

Destinations In October 2023, Cereals were exported mostly to Burma ($2.14M), United States ($449k), Russia ($134k), Netherlands ($102k), and Australia ($26k), and were imported mostly from Brazil ($161M), Argentina ($117M), Australia ($62.8M), Bulgaria ($49.5M), and China ($21.6M).

Growth In October 2023, the increase in Cereals's year-by-year exports was explained primarily by an increase in exports to Australia ($61k or 55%), Mongolia ($45k or 2.25k%), and Philippines ($20k or 1k%). In October 2023, the decrease in Cereals's year-by-year imports was explained primarily by a decrease in imports from Brazil ($-91.1M or -62.1%), China ($-28.2M or -65.7%), and Russia ($-22.3M or -83.8%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (October 2022 - October 2023)$557k(23.3%)

IMPORT GROWTH (October 2022 - October 2023)$-72M(-13.1%)

MAIN DESTINATION (October 2023)Burma$2.14M

This section shows Cereals'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 Cereals over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2021)$24.1M

IMPORTS (2021)$4.55B

NET TRADE (2021)-$4.53B

In 2021, South Korea exported $24.1M in Cereals. The main destinations of South Korea exports on Cereals were Yemen ($5.8M), Ethiopia ($4.67M), Kenya ($2.32M), Laos ($2.05M), and United States ($1.99M).

In 2021, South Korea imported $4.55B in Cereals, mainly from United States ($1.47B), Argentina ($1.14B), Australia ($374M), Brazil ($249M), and China ($188M).

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