Olive Oil in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $45.9k in Olive Oil, making it the 46th largest exporter of Olive Oil in the world. At the same year, Olive Oil was the 1143rd most exported product in South Korea. The main destination of Olive Oil exports from South Korea are: Mongolia ($19.4k), United States ($18.9k), Spain ($6.12k), Kazakhstan ($1.46k), and Indonesia ($8).

The fastest growing export markets for Olive Oil of South Korea between 2021 and 2022 were Mongolia ($19.4k), United States ($15.2k), and Spain ($6.12k).

Imports In 2022, South Korea imported $16.5M in Olive Oil, becoming the 8th largest importer of Olive Oil in the world. At the same year, Olive Oil was the 863rd most imported product in South Korea. South Korea imports Olive Oil primarily from: Italy ($8.45M), Spain ($7.05M), Turkey ($974k), United States ($34.7k), and Germany ($28k).

The fastest growing import markets in Olive Oil for South Korea between 2021 and 2022 were Spain ($3.52M), Italy ($2.83M), and Turkey ($637k).

COMPANIES In 2023, leading companies such as DIRECT LINK USA LLC (52) were at the forefront of shipping Olive Oil from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Olive Oil exports accounted up to $0 and imports accounted up to $679k, resulting in a negative trade balance of $679k. Between February 2023 and February 2024 the exports of South Korea's Olive Oil have remained the same by $0 (N/A%) from $0 to $0, while imports decreased by $-843k (-55.4%) from $1.52M to $679k.

Destinations In February 2024, Olive Oil were exported mostly to Tunisia ($0), China ($0), Hong Kong ($0), Japan ($0), and Turkey ($0), and were imported mostly from Italy ($633k), Turkey ($41k), Germany ($3k), United States ($2k), and Tunisia ($0).

Growth In February 2024, the change in Olive Oil's year-by-year exports was explained primarily by a decrease in exports to . In February 2024, the decrease in Olive Oil's year-by-year imports was explained primarily by a decrease in imports from Turkey ($-83k or -100%), Germany ($-7k or -35%), and United States ($-2k or -50%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

IMPORT GROWTH (February 2023 - February 2024)$-843k(-55.4%)

MAIN DESTINATION (February 2024)Tunisia$0

This section shows Olive Oil'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 Olive Oil over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$45.9k

IMPORTS (2022)$16.5M

NET TRADE (2022)-$16.5M

In 2022, South Korea exported $45.9k in Olive Oil. The main destinations of South Korea exports on Olive Oil were Mongolia ($19.4k), United States ($18.9k), Spain ($6.12k), Kazakhstan ($1.46k), and Indonesia ($8).

In 2022, South Korea imported $16.5M in Olive Oil, mainly from Italy ($8.45M), Spain ($7.05M), Turkey ($974k), United States ($34.7k), and Germany ($28k).

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