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2022
Exports $165kWorld Rnk 100 / 152
Flag Rnk 1100 / 1204
2022
Destination $27.4k China
2021 - 2022
FASTEST GROWING MARKET $27.4kUnited States
2022
PRODUCT COMPLEXITY IN Seed Oils-0.99Rnk 836 / 1025
2022
Imports $71.3MWorld Rnk 49 / 211
Flag Rnk 588 / 1213
2022
Origin $11M Spain
2021 - 2022
FASTEST GROWING ORIGIN $11MArgentina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $165k in Seed Oils, making it the 100th largest exporter of Seed Oils in the world. At the same year, Seed Oils was the 1100th most exported product in South Korea. The main destination of Seed Oils exports from South Korea are: China ($65.7k), United States ($47.6k), Mongolia ($16.7k), Vietnam ($12.6k), and Iraq ($7.54k).

The fastest growing export markets for Seed Oils of South Korea between 2021 and 2022 were United States ($27.4k), Iraq ($7.54k), and Mongolia ($4.11k).

Imports In 2022, South Korea imported $71.3M in Seed Oils, becoming the 49th largest importer of Seed Oils in the world. At the same year, Seed Oils was the 588th most imported product in South Korea. South Korea imports Seed Oils primarily from: Spain ($17.9M), Argentina ($15.8M), Ukraine ($8.29M), Turkey ($7.86M), and United States ($5.34M).

The fastest growing import markets in Seed Oils for South Korea between 2021 and 2022 were Argentina ($11M), Spain ($6.24M), and Turkey ($5.08M).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Seed Oils exports accounted up to $47k and imports accounted up to $5.33M, resulting in a negative trade balance of $5.28M. Between July 2023 and July 2024 the exports of South Korea's   Seed Oils have increased by $19k (67.9%) from $28k to $47k, while imports increased by $1.35M (33.9%) from $3.98M to $5.33M.

Destinations In July 2024, Seed Oils were exported mostly to Singapore ($22k), Thailand ($14k), China ($7k), Indonesia ($3k), and United States ($1k), and were imported mostly from Spain ($1.69M), Hungary ($1.29M), Turkey ($939k), Ukraine ($695k), and United States ($271k).

Growth In July 2024, the increase in Seed Oils's year-by-year exports was explained primarily by an increase in exports to Vietnam ($4k or 400%) and United States ($1k or 50%). In July 2024, the increase in Seed Oils's year-by-year imports was explained primarily by an increase in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$19k(67.9%)
IMPORT GROWTH (July 2023 - July 2024)$1.35M(33.9%)
MAIN DESTINATION (July 2024)Singapore$22k

This section shows Seed Oils'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 Seed Oils over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$165k
IMPORTS (2022)$71.3M
NET TRADE (2022)-$71.2M

In 2022, South Korea exported $165k in Seed Oils. The main destinations of South Korea exports on Seed Oils were China ($65.7k), United States ($47.6k), Mongolia ($16.7k), Vietnam ($12.6k), and Iraq ($7.54k).

In 2022, South Korea imported $71.3M in Seed Oils, mainly from Spain ($17.9M), Argentina ($15.8M), Ukraine ($8.29M), Turkey ($7.86M), and United States ($5.34M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Seed Oils EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$27.4k (135%)
Iraq$7.54k (1%)
Mongolia$4.11k (32.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Seed Oils BY South Korea WERE (2021 - 2022):
Indonesia-$110k (-98.9%)
China-$77.4k (-54.1%)
Japan-$3.58k (-100%)
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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 Seed Oils were:
Ukraine $5.54B
Russia $3.01B
Turkey $1.88B
In 2022, South Korea's main importing competitors in Seed Oils were:
India $2.88B
Turkey $1.84B
Netherlands $1.26B

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Trade Value of Seed Oils by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $113k
TOP IMPORT POTENTIALUkraine+ $11.1M

Seed Oils’s highest export potential is China. With an export gap of $113k.   Seed Oils’s highest import potential is Ukraine with an import gap of $11.1M.

See methodology.

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