Tea in South Korea | The Observatory of Economic Complexity

About

Exports In 2023, South Korea exported $9.58M in Tea, making it the 46th largest exporter of Tea in the world. At the same year, Tea was the 704th most exported product in South Korea. The main destination of Tea exports from South Korea are: United States ($6.31M), Singapore ($636k), Australia ($421k), Germany ($362k), and Canada ($353k).

The fastest growing export markets for Tea of South Korea between 2022 and 2023 were United States ($1.27M), Singapore ($188k), and Hong Kong ($149k).

Imports In 2023, South Korea imported $23.8M in Tea, becoming the 58th largest importer of Tea in the world. At the same year, Tea was the 761st most imported product in South Korea. South Korea imports Tea primarily from: Singapore ($5.31M), Sri Lanka ($2.29M), United States ($2.24M), India ($2.04M), and China ($2M).

The fastest growing import markets in Tea for South Korea between 2022 and 2023 were Singapore ($2.69M), United Arab Emirates ($1.39M), and Poland ($518k).

COMPANIES In 2024, leading companies such as Walong Marketing (8), Samsung (1), and Tmall (1) were at the forefront of shipping Tea from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Tea exports accounted up to $1.73M and imports accounted up to $2.07M, resulting in a negative trade balance of $337k. Between December 2023 and December 2024 the exports of South Korea's Tea have increased by $190k (12.3%) from $1.54M to $1.73M, while imports increased by $515k (33.1%) from $1.56M to $2.07M.

Destinations In December 2024, Tea were exported mostly to United States ($1.19M), Japan ($175k), Australia ($131k), Singapore ($77k), and Mongolia ($63k), and were imported mostly from China ($454k), Singapore ($340k), Poland ($272k), Germany ($217k), and Vietnam ($168k).

Growth In December 2024, the increase in Tea's year-by-year exports was explained primarily by an increase in exports to Singapore ($34k or 850%), Australia ($28k or 400%), and China ($23k or 100%). In December 2024, the increase in Tea's year-by-year imports was explained primarily by an increase in imports from India ($167k or 68.7%), Poland ($142k or 2.37k%), and Singapore ($141k or 65.9%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2023 - December 2024)$190k(12.3%)

IMPORT GROWTH (December 2023 - December 2024)$515k(33.1%)

MAIN DESTINATION (December 2024)United States$1.19M

This section shows Tea'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 Tea over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2023)$9.58M

IMPORTS (2023)$23.8M

NET TRADE (2023)-$14.2M

In 2023, South Korea exported $9.58M in Tea. The main destinations of South Korea exports on Tea were United States ($6.31M), Singapore ($636k), Australia ($421k), Germany ($362k), and Canada ($353k).

In 2023, South Korea imported $23.8M in Tea, mainly from Singapore ($5.31M), Sri Lanka ($2.29M), United States ($2.24M), India ($2.04M), and China ($2M).

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