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2022
Exports $7.03MWorld Rnk 24 / 194
Flag Rnk 781 / 1204
2022
Destination $193k United States
2021 - 2022
FASTEST GROWING MARKET $193kUnited States
2022
PRODUCT COMPLEXITY IN Cutlery Sets-0.066Rnk 570 / 1025
2022
Imports $64.9MWorld Rnk 15 / 218
Flag Rnk 616 / 1213
2022
Origin $11.8M China
2021 - 2022
FASTEST GROWING ORIGIN $11.8MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $7.03M in Cutlery Sets, making it the 24th largest exporter of Cutlery Sets in the world. At the same year, Cutlery Sets was the 781st most exported product in South Korea. The main destination of Cutlery Sets exports from South Korea are: United States ($3.54M), China ($1.01M), Vietnam ($345k), Denmark ($276k), and Chinese Taipei ($158k).

The fastest growing export markets for Cutlery Sets of South Korea between 2021 and 2022 were United States ($193k), Vietnam ($179k), and Denmark ($124k).

Imports In 2022, South Korea imported $64.9M in Cutlery Sets, becoming the 15th largest importer of Cutlery Sets in the world. At the same year, Cutlery Sets was the 616th most imported product in South Korea. South Korea imports Cutlery Sets primarily from: China ($46.5M), Italy ($4.66M), France ($3.98M), Vietnam ($3.08M), and Portugal ($1.75M).

The fastest growing import markets in Cutlery Sets for South Korea between 2021 and 2022 were China ($11.8M), France ($1.68M), and Italy ($836k).

COMPANIES In 2023, leading companies such as General Motors (10) were at the forefront of shipping Cutlery Sets from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Cutlery Sets exports accounted up to $679k and imports accounted up to $2.59M, resulting in a negative trade balance of $1.92M. Between September 2023 and September 2024 the exports of South Korea's   Cutlery Sets have increased by $172k (33.9%) from $507k to $679k, while imports decreased by $-1.06M (-29%) from $3.66M to $2.59M.

Destinations In September 2024, Cutlery Sets were exported mostly to Canada ($294k), United States ($236k), Philippines ($59k), China ($20k), and Vietnam ($20k), and were imported mostly from China ($1.68M), France ($292k), Vietnam ($227k), Japan ($106k), and Germany ($82k).

Growth In September 2024, the increase in Cutlery Sets's year-by-year exports was explained primarily by an increase in exports to United States ($6k or 2.99%), Mongolia ($3k or 150%), and Australia ($3k or 100%). In September 2024, the decrease in Cutlery Sets's year-by-year imports was explained primarily by a decrease in imports from Italy ($-337k or -76.4%), Vietnam ($-172k or -53.1%), and China ($-137k or -3.92%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$172k(33.9%)
IMPORT GROWTH (September 2023 - September 2024)$-1.06M(-29%)
MAIN DESTINATION (September 2024)Canada$294k

This section shows Cutlery Sets'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 Cutlery Sets over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$7.03M
IMPORTS (2022)$64.9M
NET TRADE (2022)-$57.9M

In 2022, South Korea exported $7.03M in Cutlery Sets. The main destinations of South Korea exports on Cutlery Sets were United States ($3.54M), China ($1.01M), Vietnam ($345k), Denmark ($276k), and Chinese Taipei ($158k).

In 2022, South Korea imported $64.9M in Cutlery Sets, mainly from China ($46.5M), Italy ($4.66M), France ($3.98M), Vietnam ($3.08M), and Portugal ($1.75M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Cutlery Sets EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$193k (5.77%)
Vietnam$179k (109%)
Denmark$124k (81.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cutlery Sets BY South Korea WERE (2021 - 2022):
China-$173k (-14.6%)
Canada-$96k (-70.5%)
Netherlands-$78.8k (-61.2%)
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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 Cutlery Sets were:
China $2.38B
Vietnam $288M
Germany $127M
In 2022, South Korea's main importing competitors in Cutlery Sets were:
United States $688M
Germany $226M
Netherlands $128M

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Trade Value of Cutlery Sets by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $594k
TOP IMPORT POTENTIALChina+ $8.43M

Cutlery Sets’s highest export potential is United States. With an export gap of $594k.   Cutlery Sets’s highest import potential is China with an import gap of $8.43M.

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