2023
Exports
$1.42MWorld Rnk 79 / 153
Flag Rnk 918 / 1188
2023
PRODUCT COMPLEXITY IN Fermented Milk Products
-0.17Rnk 610 / 1025
2023
Imports
$7.75MWorld Rnk 79 / 223
Flag Rnk 935 / 1208
2023
ECONOMIC COMPLEXITY of South Korea
1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $1.42M in Fermented Milk Products, making it the 79th largest exporter of Fermented Milk Products in the world. At the same year, Fermented Milk Products was the 918th most exported product in South Korea. The main destination of Fermented Milk Products exports from South Korea are: China ($391k), Philippines ($357k), Hong Kong ($200k), Singapore ($130k), and Chinese Taipei ($97.6k).

The fastest growing export markets for Fermented Milk Products of South Korea between 2022 and 2023 were Philippines ($165k), China ($51.2k), and Brunei ($44.2k).

Imports In 2023, South Korea imported $7.75M in Fermented Milk Products, becoming the 79th largest importer of Fermented Milk Products in the world. At the same year, Fermented Milk Products was the 935th most imported product in South Korea. South Korea imports Fermented Milk Products primarily from: United States ($3.81M), Greece ($1.12M), Germany ($1.01M), France ($958k), and Netherlands ($225k).

The fastest growing import markets in Fermented Milk Products for South Korea between 2022 and 2023 were Germany ($299k), France ($297k), and Netherlands ($137k).

COMPANIES In 2024, leading companies such as Walong Marketing (12) and LG Electronics (1) were at the forefront of shipping Fermented Milk Products from South Korea to the United States.

Latest Trends

December 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-345k(-36.5%)
IMPORT GROWTH (December 2023 - December 2024)$256k(27%)
MAIN DESTINATION (December 2024)Mongolia$148k

This section shows Fermented Milk Products'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 Fermented Milk Products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$1.42M
IMPORTS (2023)$7.75M
NET TRADE (2023)-$6.33M

In 2023, South Korea exported $1.42M in Fermented Milk Products. The main destinations of South Korea exports on Fermented Milk Products were China ($391k), Philippines ($357k), Hong Kong ($200k), Singapore ($130k), and Chinese Taipei ($97.6k).

In 2023, South Korea imported $7.75M in Fermented Milk Products, mainly from United States ($3.81M), Greece ($1.12M), Germany ($1.01M), France ($958k), and Netherlands ($225k).

Explore Visualizations

Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Fermented Milk Products EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Philippines$165k (86%)
China$51.2k (15.1%)
Brunei$44.2k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Fermented Milk Products BY South Korea WERE (2022 - 2023):
United States-$736k (-95.5%)
Vietnam-$603k (-100%)
Canada-$548k (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Fermented Milk Products were:
In 2023, South Korea's main importing competitors in Fermented Milk Products were:

Explore Visualizations

Trade Value of Fermented Milk Products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $432k
TOP IMPORT POTENTIALGermany+ $732k

Fermented Milk Products’s highest export potential is China. With an export gap of $432k.   Fermented Milk Products’s highest import potential is Germany with an import gap of $732k.

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