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2022
Exports $417kWorld Rnk 64 / 113
Flag Rnk 1048 / 1204
2022
Destination $12.1k Japan
2021 - 2022
FASTEST GROWING MARKET $12.1kMongolia
2022
PRODUCT COMPLEXITY IN Rapeseed Oil0.26Rnk 466 / 1025
2022
Imports $197MWorld Rnk 15 / 208
Flag Rnk 362 / 1213
2022
Origin $11.4M Canada
2021 - 2022
FASTEST GROWING ORIGIN $11.4MAustralia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $417k in Rapeseed Oil, making it the 64th largest exporter of Rapeseed Oil in the world. At the same year, Rapeseed Oil was the 1048th most exported product in South Korea. The main destination of Rapeseed Oil exports from South Korea are: Japan ($199k), United States ($78.5k), Vietnam ($40.4k), Mongolia ($30.7k), and China ($20.6k).

The fastest growing export markets for Rapeseed Oil of South Korea between 2021 and 2022 were Mongolia ($12.1k), China ($4.79k), and United States ($3.63k).

Imports In 2022, South Korea imported $197M in Rapeseed Oil, becoming the 15th largest importer of Rapeseed Oil in the world. At the same year, Rapeseed Oil was the 362nd most imported product in South Korea. South Korea imports Rapeseed Oil primarily from: Canada ($157M), Australia ($25.6M), United Arab Emirates ($9.46M), Italy ($1.61M), and United States ($1.07M).

The fastest growing import markets in Rapeseed Oil for South Korea between 2021 and 2022 were Australia ($11.4M), United Arab Emirates ($8.52M), and Mongolia ($986k).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Rapeseed Oil exports accounted up to $16k and imports accounted up to $12.4M, resulting in a negative trade balance of $12.4M. Between October 2023 and October 2024 the exports of South Korea's   Rapeseed Oil have decreased by $-5k (-23.8%) from $21k to $16k, while imports decreased by $-8.02M (-39.3%) from $20.4M to $12.4M.

Destinations In October 2024, Rapeseed Oil were exported mostly to Indonesia ($9k), United States ($6k), Mongolia ($1k), United Arab Emirates ($0), and Bangladesh ($0), and were imported mostly from Canada ($6.51M), Australia ($5.03M), United Arab Emirates ($583k), Spain ($76k), and Czechia ($58k).

Growth In October 2024, the decrease in Rapeseed Oil's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-2k or -100%) and Australia ($-1k or -100%). In October 2024, the decrease in Rapeseed Oil's year-by-year imports was explained primarily by a decrease in imports from Canada ($-3.28M or -38.5%) and China ($-12k or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-5k(-23.8%)
IMPORT GROWTH (October 2023 - October 2024)$-8.02M(-39.3%)
MAIN DESTINATION (October 2024)Indonesia$9k

This section shows Rapeseed 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 Rapeseed Oil over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$417k
IMPORTS (2022)$197M
NET TRADE (2022)-$197M

In 2022, South Korea exported $417k in Rapeseed Oil. The main destinations of South Korea exports on Rapeseed Oil were Japan ($199k), United States ($78.5k), Vietnam ($40.4k), Mongolia ($30.7k), and China ($20.6k).

In 2022, South Korea imported $197M in Rapeseed Oil, mainly from Canada ($157M), Australia ($25.6M), United Arab Emirates ($9.46M), Italy ($1.61M), and United States ($1.07M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Rapeseed Oil EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Mongolia$12.1k (65.3%)
China$4.79k (30.4%)
United States$3.63k (4.85%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Rapeseed Oil BY South Korea WERE (2021 - 2022):
Vietnam-$33.9k (-45.6%)
Japan-$19.5k (-8.91%)
Hong Kong-$8.44k (-39%)
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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 Rapeseed Oil were:
Canada $4.86B
Germany $1.77B
Russia $1.15B
In 2022, South Korea's main importing competitors in Rapeseed Oil were:
United States $4.01B
China $1.49B
Netherlands $1.38B

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Trade Value of Rapeseed Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $211k
TOP IMPORT POTENTIALUnited Arab Emirates+ $2.38M

Rapeseed Oil’s highest export potential is United States. With an export gap of $211k.   Rapeseed Oil’s highest import potential is United Arab Emirates with an import gap of $2.38M.

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