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2022
Exports $150MWorld Rnk 14 / 181
Flag Rnk 323 / 1204
2022
Destination $19.7M United States
2021 - 2022
FASTEST GROWING MARKET $19.7MUnited States
2022
PRODUCT COMPLEXITY IN Prepared Cereals-0.43Rnk 681 / 1025
2022
Imports $60.9MWorld Rnk 29 / 223
Flag Rnk 629 / 1213
2022
Origin $1.03M China
2021 - 2022
FASTEST GROWING ORIGIN $1.03MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $150M in Prepared Cereals, making it the 14th largest exporter of Prepared Cereals in the world. At the same year, Prepared Cereals was the 323rd most exported product in South Korea. The main destination of Prepared Cereals exports from South Korea are: United States ($64.9M), China ($35.1M), Australia ($11.6M), Chinese Taipei ($8.21M), and Japan ($5.71M).

The fastest growing export markets for Prepared Cereals of South Korea between 2021 and 2022 were United States ($19.7M), Australia ($1.33M), and Chinese Taipei ($1.1M).

Imports In 2022, South Korea imported $60.9M in Prepared Cereals, becoming the 29th largest importer of Prepared Cereals in the world. At the same year, Prepared Cereals was the 629th most imported product in South Korea. South Korea imports Prepared Cereals primarily from: China ($28.8M), Belgium ($8.87M), United States ($4.8M), Thailand ($3.5M), and Vietnam ($2.8M).

The fastest growing import markets in Prepared Cereals for South Korea between 2021 and 2022 were China ($1.03M), Thailand ($709k), and Japan ($446k).

COMPANIES In 2023, leading companies such as Wismettac Asian Foods (10) were at the forefront of shipping Prepared Cereals from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Prepared Cereals exports accounted up to $23.4M and imports accounted up to $7.9M, resulting in a positive trade balance of $15.5M. Between July 2023 and July 2024 the exports of South Korea's   Prepared Cereals have increased by $10.8M (86.3%) from $12.5M to $23.4M, while imports increased by $3.77M (91.2%) from $4.13M to $7.9M.

Destinations In July 2024, Prepared Cereals were exported mostly to United States ($13.7M), China ($2.54M), Canada ($2.06M), Australia ($1.12M), and Chinese Taipei ($921k), and were imported mostly from China ($3.96M), Belgium ($1.18M), United States ($647k), Vietnam ($357k), and Chinese Taipei ($271k).

Growth In July 2024, the increase in Prepared Cereals's year-by-year exports was explained primarily by an increase in exports to China ($1.84M or 148%), United States ($1.08M or 22.5%), and Philippines ($331k or 104%). In July 2024, the increase in Prepared Cereals's year-by-year imports was explained primarily by an increase in imports from Chinese Taipei ($139k or 49.1%), Japan ($62k or 388%), and United Kingdom ($51k or 638%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$10.8M(86.3%)
IMPORT GROWTH (July 2023 - July 2024)$3.77M(91.2%)
MAIN DESTINATION (July 2024)United States$13.7M

This section shows Prepared Cereals'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 Prepared Cereals over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$150M
IMPORTS (2022)$60.9M
NET TRADE (2022)$89M

In 2022, South Korea exported $150M in Prepared Cereals. The main destinations of South Korea exports on Prepared Cereals were United States ($64.9M), China ($35.1M), Australia ($11.6M), Chinese Taipei ($8.21M), and Japan ($5.71M).

In 2022, South Korea imported $60.9M in Prepared Cereals, mainly from China ($28.8M), Belgium ($8.87M), United States ($4.8M), Thailand ($3.5M), and Vietnam ($2.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Prepared Cereals EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$19.7M (43.7%)
Australia$1.33M (13%)
Chinese Taipei$1.1M (15.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Prepared Cereals BY South Korea WERE (2021 - 2022):
China-$1.64M (-4.47%)
Philippines-$1.47M (-43.5%)
New Zealand-$1.09M (-39.5%)
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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 Prepared Cereals were:
Germany $784M
United States $747M
United Kingdom $648M
In 2022, South Korea's main importing competitors in Prepared Cereals were:
United States $1.03B
Canada $606M
Germany $513M

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Trade Value of Prepared Cereals by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALCanada+ $1.82M
TOP IMPORT POTENTIALUnited States+ $1.79M

Prepared Cereals’s highest export potential is Canada. With an export gap of $1.82M.   Prepared Cereals’s highest import potential is United States with an import gap of $1.79M.

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