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2022
Exports $57.7kWorld Rnk 77 / 147
Flag Rnk 1137 / 1204
2022
Destination $15.3k United States
2021 - 2022
FASTEST GROWING MARKET $15.3kKuwait
2022
PRODUCT COMPLEXITY IN Cinnamon-1.8Rnk 982 / 1025
2022
Imports $9.67MWorld Rnk 21 / 211
Flag Rnk 946 / 1213
2022
Origin $1.56M Vietnam
2021 - 2022
FASTEST GROWING ORIGIN $1.56MVietnam
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $57.7k in Cinnamon, making it the 77th largest exporter of Cinnamon in the world. At the same year, Cinnamon was the 1137th most exported product in South Korea. The main destination of Cinnamon exports from South Korea are: United States ($23.6k), Kuwait ($15.3k), Australia ($4.34k), Russia ($3.99k), and Malaysia ($2.64k).

The fastest growing export markets for Cinnamon of South Korea between 2021 and 2022 were Kuwait ($15.3k), Australia ($3.27k), and Malaysia ($2.64k).

Imports In 2022, South Korea imported $9.67M in Cinnamon, becoming the 21st largest importer of Cinnamon in the world. At the same year, Cinnamon was the 946th most imported product in South Korea. South Korea imports Cinnamon primarily from: Vietnam ($7.88M), China ($906k), United States ($399k), Sri Lanka ($223k), and Belgium ($75.6k).

The fastest growing import markets in Cinnamon for South Korea between 2021 and 2022 were Vietnam ($1.56M), China ($353k), and Sri Lanka ($108k).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Cinnamon exports accounted up to $19k and imports accounted up to $596k, resulting in a negative trade balance of $577k. Between July 2023 and July 2024 the exports of South Korea's   Cinnamon have increased by $16k (533%) from $3k to $19k, while imports decreased by $-115k (-16.2%) from $711k to $596k.

Destinations In July 2024, Cinnamon were exported mostly to Vietnam ($16k), Japan ($1k), United States ($1k), Australia ($1k), and United Arab Emirates ($0), and were imported mostly from Vietnam ($499k), China ($38k), Sri Lanka ($26k), Indonesia ($20k), and United States ($13k).

Growth In July 2024, the increase in Cinnamon's year-by-year exports was explained primarily by an increase in exports to . In July 2024, the decrease in Cinnamon's year-by-year imports was explained primarily by a decrease in imports from China ($-32k or -26.7%), Netherlands ($-14k or -100%), and United States ($-9k or -29%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$16k(533%)
IMPORT GROWTH (July 2023 - July 2024)$-115k(-16.2%)
MAIN DESTINATION (July 2024)Vietnam$16k

This section shows Cinnamon'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 Cinnamon over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$57.7k
IMPORTS (2022)$9.67M
NET TRADE (2022)-$9.62M

In 2022, South Korea exported $57.7k in Cinnamon. The main destinations of South Korea exports on Cinnamon were United States ($23.6k), Kuwait ($15.3k), Australia ($4.34k), Russia ($3.99k), and Malaysia ($2.64k).

In 2022, South Korea imported $9.67M in Cinnamon, mainly from Vietnam ($7.88M), China ($906k), United States ($399k), Sri Lanka ($223k), and Belgium ($75.6k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Cinnamon EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Kuwait$15.3k (1%)
Australia$3.27k (304%)
Malaysia$2.64k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cinnamon BY South Korea WERE (2021 - 2022):
Vietnam-$23k (-96.7%)
China-$19.9k (-100%)
Nigeria-$17.6k (-100%)
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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 Cinnamon were:
Vietnam $268M
Sri Lanka $214M
China $179M
In 2022, South Korea's main importing competitors in Cinnamon were:
United States $190M
India $116M
Mexico $87.7M

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Trade Value of Cinnamon by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $23.2k
TOP IMPORT POTENTIALChina+ $1.2M

Cinnamon’s highest export potential is United States. With an export gap of $23.2k.   Cinnamon’s highest import potential is China with an import gap of $1.2M.

See methodology.

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