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2023
Exports $37.1kWorld Rnk 79 / 121
Flag Rnk 1116 / 1188
2023
Destination $26.2k Indonesia
2022 - 2023
FASTEST GROWING MARKET $26.2kIndonesia
2023
PRODUCT COMPLEXITY IN Forage Crops-0.83Rnk 791 / 1025
2023
Imports $453MWorld Rnk 3 / 178
Flag Rnk 176 / 1208
2023
Origin $105M United States
2022 - 2023
FASTEST GROWING ORIGIN $105MAustralia
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $37.1k in Forage Crops, making it the 79th largest exporter of Forage Crops in the world. At the same year, Forage Crops was the 1116th most exported product in South Korea. The main destination of Forage Crops exports from South Korea are: Indonesia ($26.2k), Lithuania ($10.8k), Singapore ($153), and Nicaragua ($5).

The fastest growing export markets for Forage Crops of South Korea between 2022 and 2023 were Indonesia ($26.2k), Lithuania ($10.8k), and Singapore ($153).

Imports In 2023, South Korea imported $453M in Forage Crops, becoming the 3rd largest importer of Forage Crops in the world. At the same year, Forage Crops was the 176th most imported product in South Korea. South Korea imports Forage Crops primarily from: United States ($258M), Australia ($169M), Canada ($12.8M), Spain ($7.66M), and Italy ($3.06M).

The fastest growing import markets in Forage Crops for South Korea between 2022 and 2023 were Australia ($105M), New Zealand ($1.44M), and Germany ($446k).

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Forage Crops exports accounted up to $0 and imports accounted up to $34.5M, resulting in a negative trade balance of $34.5M. Between December 2023 and December 2024 the exports of South Korea's   Forage Crops have remained the same by $0 (N/A%) from $0 to $0, while imports decreased by $-3.73M (-9.76%) from $38.2M to $34.5M.

Destinations In December 2024, Forage Crops were exported mostly to China ($0), Japan ($0), Vietnam ($0), Spain ($0), and France ($0), and were imported mostly from United States ($25.4M), Australia ($6.85M), Canada ($965k), Spain ($861k), and Italy ($348k).

Growth In December 2024, the change in Forage Crops's year-by-year exports was explained primarily by a decrease in exports to . In December 2024, the decrease in Forage Crops's year-by-year imports was explained primarily by a decrease in imports from United States ($-4.64M or -19.5%), Spain ($-1.21M or -66.2%), and Italy ($-318k or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
IMPORT GROWTH (December 2023 - December 2024)$-3.73M(-9.76%)
MAIN DESTINATION (December 2024)China$0

This section shows Forage Crops'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 Forage Crops over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$37.1k
IMPORTS (2023)$453M
NET TRADE (2023)-$453M

In 2023, South Korea exported $37.1k in Forage Crops. The main destinations of South Korea exports on Forage Crops were Indonesia ($26.2k), Lithuania ($10.8k), Singapore ($153), and Nicaragua ($5).

In 2023, South Korea imported $453M in Forage Crops, mainly from United States ($258M), Australia ($169M), Canada ($12.8M), Spain ($7.66M), and Italy ($3.06M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Forage Crops EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Indonesia$26.2k (1%)
Lithuania$10.8k (1%)
Singapore$153 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Forage Crops BY South Korea WERE (2022 - 2023):
Netherlands-$7.26k (-100%)
Vietnam-$574 (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Forage Crops were:
United States $1.63B
Australia $545M
Canada $242M
In 2023, South Korea's main importing competitors in Forage Crops were:
Japan $770M
China $521M

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Trade Value of Forage Crops by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALNetherlands+ $3.16k
TOP IMPORT POTENTIALItaly+ $2.22M

Forage Crops’s highest export potential is Netherlands. With an export gap of $3.16k.   Forage Crops’s highest import potential is Italy with an import gap of $2.22M.

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