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2022
Exports $70.4MWorld Rnk 57 / 199
Flag Rnk 78 / 96
2022
Destination $6.64M Japan
2021 - 2022
FASTEST GROWING MARKET $6.64MJapan
2022
PRODUCT COMPLEXITY IN Cocoa & cocoa preparations0.14Rnk 508 / 1025
2022
Imports $389MWorld Rnk 32 / 225
Flag Rnk 71 / 96
2022
Origin $13.3M United States
2021 - 2022
FASTEST GROWING ORIGIN $13.3MMalaysia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $70.4M in Cocoa & cocoa preparations, making it the 57th largest exporter of Cocoa & cocoa preparations in the world. At the same year, Cocoa & cocoa preparations was the 78th most exported product in South Korea. The main destination of Cocoa & cocoa preparations exports from South Korea are: Japan ($42M), China ($10.1M), Australia ($2.94M), Malaysia ($2.9M), and Vietnam ($2.25M).

The fastest growing export markets for Cocoa & cocoa preparations of South Korea between 2021 and 2022 were Japan ($6.64M), Vietnam ($493k), and Thailand ($466k).

Imports In 2022, South Korea imported $389M in Cocoa & cocoa preparations, becoming the 32nd largest importer of Cocoa & cocoa preparations in the world. At the same year, Cocoa & cocoa preparations was the 71st most imported product in South Korea. South Korea imports Cocoa & cocoa preparations primarily from: United States ($73.3M), Malaysia ($54.3M), Singapore ($41.5M), China ($35.4M), and Netherlands ($33.8M).

The fastest growing import markets in Cocoa & cocoa preparations for South Korea between 2021 and 2022 were Malaysia ($13.3M), China ($5.77M), and Singapore ($4.18M).

COMPANIES In 2023, leading companies such as LG Electronics (73), Barry Callebaut (2), and Walong Marketing (1) were at the forefront of shipping Cocoa & cocoa preparations from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Cocoa & cocoa preparations exports accounted up to $8.92M and imports accounted up to $61.9M, resulting in a negative trade balance of $53M. Between October 2023 and October 2024 the exports of South Korea's   Cocoa & cocoa preparations have increased by $3.76M (73%) from $5.16M to $8.92M, while imports increased by $18.7M (43.4%) from $43.2M to $61.9M.

Destinations In October 2024, Cocoa & cocoa preparations were exported mostly to Japan ($4.7M), China ($1.46M), Russia ($960k), Philippines ($401k), and Vietnam ($329k), and were imported mostly from Belgium ($8.68M), Singapore ($6.56M), United States ($6.49M), Malaysia ($5.55M), and Italy ($4.84M).

Growth In October 2024, the increase in Cocoa & cocoa preparations's year-by-year exports was explained primarily by an increase in exports to Chinese Taipei ($356k or 1.02k%), Russia ($198k or 566%), and United Arab Emirates ($137k or 13.7k%). In October 2024, the increase in Cocoa & cocoa preparations's year-by-year imports was explained primarily by an increase in imports from Singapore ($1.89M or 76.8%), China ($1.13M or 42.8%), and Ghana ($670k or 450%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$3.76M(73%)
IMPORT GROWTH (October 2023 - October 2024)$18.7M(43.4%)
MAIN DESTINATION (October 2024)Japan$4.7M

This section shows Cocoa & cocoa preparations'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 Cocoa & cocoa preparations over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$70.4M
IMPORTS (2022)$389M
NET TRADE (2022)-$318M

In 2022, South Korea exported $70.4M in Cocoa & cocoa preparations. The main destinations of South Korea exports on Cocoa & cocoa preparations were Japan ($42M), China ($10.1M), Australia ($2.94M), Malaysia ($2.9M), and Vietnam ($2.25M).

In 2022, South Korea imported $389M in Cocoa & cocoa preparations, mainly from United States ($73.3M), Malaysia ($54.3M), Singapore ($41.5M), China ($35.4M), and Netherlands ($33.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Cocoa & cocoa preparations EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Japan$6.64M (18.8%)
Vietnam$493k (28.1%)
Thailand$466k (59.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cocoa & cocoa preparations BY South Korea WERE (2021 - 2022):
Chinese Taipei-$625k (-28.8%)
Indonesia-$476k (-76.6%)
Macau-$391k (-71.9%)
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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 Cocoa & cocoa preparations were:
Germany $6.74B
Cote d'Ivoire $5.39B
Netherlands $5.36B
In 2022, South Korea's main importing competitors in Cocoa & cocoa preparations were:
United States $6.22B
Netherlands $4.41B
Germany $4.41B

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Trade Value of Cocoa & cocoa preparations by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $5.03M
TOP IMPORT POTENTIALGermany+ $14.3M

Cocoa & cocoa preparations’s highest export potential is China. With an export gap of $5.03M.   Cocoa & cocoa preparations’s highest import potential is Germany with an import gap of $14.3M.

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