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2022
Exports $33.4MWorld Rnk 39 / 124
Flag Rnk 557 / 1204
2022
Destination $10.2M Japan
2021 - 2022
FASTEST GROWING MARKET $10.2MJapan
2022
PRODUCT COMPLEXITY IN Soybean Meal-1.24Rnk 894 / 1025
2022
Imports $783MWorld Rnk 14 / 174
Flag Rnk 141 / 1213
2022
Origin $70.9M Brazil
2021 - 2022
FASTEST GROWING ORIGIN $70.9MArgentina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $33.4M in Soybean Meal, making it the 39th largest exporter of Soybean Meal in the world. At the same year, Soybean Meal was the 557th most exported product in South Korea. The main destination of Soybean Meal exports from South Korea are: Japan ($32.6M), India ($746k), Malaysia ($14.5k), Vietnam ($11.5k), and Canada ($5.04k).

The fastest growing export markets for Soybean Meal of South Korea between 2021 and 2022 were Japan ($10.2M), India ($746k), and Malaysia ($14.5k).

Imports In 2022, South Korea imported $783M in Soybean Meal, becoming the 14th largest importer of Soybean Meal in the world. At the same year, Soybean Meal was the 141st most imported product in South Korea. South Korea imports Soybean Meal primarily from: Brazil ($620M), Argentina ($102M), India ($38.1M), United States ($13.3M), and China ($7.91M).

The fastest growing import markets in Soybean Meal for South Korea between 2021 and 2022 were Argentina ($70.9M), India ($6.42M), and Vietnam ($672k).

Latest Trends

November 2024

About

Overview In November 2024 South Korea's Soybean Meal exports accounted up to $0 and imports accounted up to $67.5M, resulting in a negative trade balance of $67.5M. Between November 2023 and November 2024 the exports of South Korea's   Soybean Meal have decreased by $-1.69M (-100%) from $1.69M to $0, while imports increased by $160k (0.24%) from $67.4M to $67.5M.

Destinations In November 2024, Soybean Meal were exported mostly to China ($0), India ($0), Singapore ($0), Canada ($0), and United States ($0), and were imported mostly from Brazil ($59.8M), Argentina ($4.31M), India ($1.99M), China ($1.07M), and United States ($402k).

Growth In November 2024, the decrease in Soybean Meal's year-by-year exports was explained primarily by a decrease in exports to Japan ($-1.52M or -32.9%) and Vietnam ($-1k or -100%). In November 2024, the increase in Soybean Meal's year-by-year imports was explained primarily by an increase in imports from Brazil ($19.7M or 62%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$-1.69M(-100%)
IMPORT GROWTH (November 2023 - November 2024)$160k(0.24%)
MAIN DESTINATION (November 2024)China$0

This section shows Soybean Meal'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 Soybean Meal over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$33.4M
IMPORTS (2022)$783M
NET TRADE (2022)-$749M

In 2022, South Korea exported $33.4M in Soybean Meal. The main destinations of South Korea exports on Soybean Meal were Japan ($32.6M), India ($746k), Malaysia ($14.5k), Vietnam ($11.5k), and Canada ($5.04k).

In 2022, South Korea imported $783M in Soybean Meal, mainly from Brazil ($620M), Argentina ($102M), India ($38.1M), United States ($13.3M), and China ($7.91M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybean Meal EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Japan$10.2M (45.5%)
India$746k (1%)
Malaysia$14.5k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Meal BY South Korea WERE (2021 - 2022):
Burma-$265k (-100%)
Philippines-$13k (-100%)
Singapore-$3.76k (-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 Soybean Meal were:
Argentina $12B
Brazil $10.4B
United States $5.2B
In 2022, South Korea's main importing competitors in Soybean Meal were:
Indonesia $2.92B
Vietnam $2.5B
Germany $1.71B

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Trade Value of Soybean Meal by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $742k
TOP IMPORT POTENTIALArgentina+ $27.9M

Soybean Meal’s highest export potential is India. With an export gap of $742k.   Soybean Meal’s highest import potential is Argentina with an import gap of $27.9M.

See methodology.

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