Cheese in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $9.78M in Cheese, making it the 68th largest exporter of Cheese in the world. At the same year, Cheese was the 730th most exported product in South Korea. The main destination of Cheese exports from South Korea are: China ($3.24M), Vietnam ($2.68M), Japan ($1.23M), Philippines ($569k), and Chinese Taipei ($566k).

The fastest growing export markets for Cheese of South Korea between 2021 and 2022 were Vietnam ($1.35M), Chinese Taipei ($304k), and Philippines ($272k).

Imports In 2022, South Korea imported $847M in Cheese, becoming the 10th largest importer of Cheese in the world. At the same year, Cheese was the 132nd most imported product in South Korea. South Korea imports Cheese primarily from: United States ($359M), New Zealand ($122M), Netherlands ($86.2M), Germany ($74.4M), and Denmark ($44.4M).

The fastest growing import markets in Cheese for South Korea between 2021 and 2022 were United States ($71.5M), Germany ($34.6M), and Netherlands ($30.8M).

COMPANIES In 2023, leading companies such as Goya Foods (33) and General Motors (2) were at the forefront of shipping Cheese from South Korea to the United States.

Latest Trends

August 2024

About

Overview In August 2024 South Korea's Cheese exports accounted up to $631k and imports accounted up to $59.4M, resulting in a negative trade balance of $58.8M. Between August 2023 and August 2024 the exports of South Korea's Cheese have decreased by $-548k (-46.5%) from $1.18M to $631k, while imports decreased by $-11.5M (-16.3%) from $70.9M to $59.4M.

Destinations In August 2024, Cheese were exported mostly to Vietnam ($409k), China ($70k), Singapore ($42k), United States ($42k), and Laos ($21k), and were imported mostly from United States ($16.9M), New Zealand ($11.2M), Denmark ($8.88M), Germany ($7.54M), and Italy ($4.33M).

Growth In August 2024, the decrease in Cheese's year-by-year exports was explained primarily by a decrease in exports to China ($-148k or -59.7%), Vietnam ($-76k or -75.2%), and United States ($-41k or -68.3%). In August 2024, the decrease in Cheese's year-by-year imports was explained primarily by a decrease in imports from Netherlands ($-3.03M or -67.8%), Italy ($-740k or -19.2%), and Lithuania ($-202k or -57.2%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (August 2023 - August 2024)$-548k(-46.5%)

IMPORT GROWTH (August 2023 - August 2024)$-11.5M(-16.3%)

MAIN DESTINATION (August 2024)Vietnam$409k

This section shows Cheese'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 Cheese over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$9.78M

IMPORTS (2022)$847M

NET TRADE (2022)-$837M

In 2022, South Korea exported $9.78M in Cheese. The main destinations of South Korea exports on Cheese were China ($3.24M), Vietnam ($2.68M), Japan ($1.23M), Philippines ($569k), and Chinese Taipei ($566k).

In 2022, South Korea imported $847M in Cheese, mainly from United States ($359M), New Zealand ($122M), Netherlands ($86.2M), Germany ($74.4M), and Denmark ($44.4M).

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