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2022
Exports $51.1MWorld Rnk 12 / 143
Flag Rnk 482 / 1204
2022
Destination $1.3M Japan
2021 - 2022
FASTEST GROWING MARKET $1.3MAustralia
2022
PRODUCT COMPLEXITY IN Other Fermented Beverages0.091Rnk 525 / 1025
2022
Imports $46.8MWorld Rnk 9 / 218
Flag Rnk 683 / 1213
2022
Origin $5.81M Japan
2021 - 2022
FASTEST GROWING ORIGIN $5.81MJapan
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $51.1M in Other Fermented Beverages, making it the 12th largest exporter of Other Fermented Beverages in the world. At the same year, Other Fermented Beverages was the 482nd most exported product in South Korea. The main destination of Other Fermented Beverages exports from South Korea are: Japan ($29.9M), United States ($7.8M), China ($2.55M), Australia ($2.41M), and Thailand ($1.26M).

The fastest growing export markets for Other Fermented Beverages of South Korea between 2021 and 2022 were Australia ($1.3M), United States ($750k), and Indonesia ($239k).

Imports In 2022, South Korea imported $46.8M in Other Fermented Beverages, becoming the 9th largest importer of Other Fermented Beverages in the world. At the same year, Other Fermented Beverages was the 683rd most imported product in South Korea. South Korea imports Other Fermented Beverages primarily from: Japan ($20.3M), Denmark ($11.1M), United States ($3.63M), Netherlands ($1.89M), and Spain ($1.86M).

The fastest growing import markets in Other Fermented Beverages for South Korea between 2021 and 2022 were Japan ($5.81M), United States ($1.62M), and Belgium ($829k).

COMPANIES In 2023, leading companies such as Kobrand Wine and Spirits (5) were at the forefront of shipping Other Fermented Beverages from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Other Fermented Beverages exports accounted up to $3.74M and imports accounted up to $4.8M, resulting in a negative trade balance of $1.07M. Between July 2023 and July 2024 the exports of South Korea's   Other Fermented Beverages have decreased by $-234k (-5.89%) from $3.97M to $3.74M, while imports increased by $1.12M (30.2%) from $3.69M to $4.8M.

Destinations In July 2024, Other Fermented Beverages were exported mostly to Japan ($2.1M), United States ($848k), Australia ($202k), China ($152k), and Singapore ($64k), and were imported mostly from Japan ($3.03M), Denmark ($568k), China ($331k), United States ($312k), and Austria ($168k).

Growth In July 2024, the decrease in Other Fermented Beverages's year-by-year exports was explained primarily by a decrease in exports to China ($-166k or -59.7%), Singapore ($-83k or -68.6%), and Thailand ($-79k or -63.2%). In July 2024, the increase in Other Fermented Beverages's year-by-year imports was explained primarily by an increase in imports from Japan ($444k or 28.8%), United States ($272k or 99.6%), and Germany ($111k or 317%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-234k(-5.89%)
IMPORT GROWTH (July 2023 - July 2024)$1.12M(30.2%)
MAIN DESTINATION (July 2024)Japan$2.1M

This section shows Other Fermented Beverages'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 Other Fermented Beverages over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$51.1M
IMPORTS (2022)$46.8M
NET TRADE (2022)$4.32M

In 2022, South Korea exported $51.1M in Other Fermented Beverages. The main destinations of South Korea exports on Other Fermented Beverages were Japan ($29.9M), United States ($7.8M), China ($2.55M), Australia ($2.41M), and Thailand ($1.26M).

In 2022, South Korea imported $46.8M in Other Fermented Beverages, mainly from Japan ($20.3M), Denmark ($11.1M), United States ($3.63M), Netherlands ($1.89M), and Spain ($1.86M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Other Fermented Beverages EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Australia$1.3M (118%)
United States$750k (10.6%)
Indonesia$239k (130%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Other Fermented Beverages BY South Korea WERE (2021 - 2022):
Japan-$6.55M (-18%)
China-$645k (-20.2%)
Chinese Taipei-$332k (-35.1%)
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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 Other Fermented Beverages were:
Japan $385M
Italy $132M
Ireland $127M
In 2022, South Korea's main importing competitors in Other Fermented Beverages were:
United States $437M
United Kingdom $234M
China $128M

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Trade Value of Other Fermented Beverages by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.25M
TOP IMPORT POTENTIALChina+ $630k

Other Fermented Beverages’s highest export potential is United States. With an export gap of $2.25M.   Other Fermented Beverages’s highest import potential is China with an import gap of $630k.

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