Wheat in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $335 in Wheat, making it the 124th largest exporter of Wheat in the world. At the same year, Wheat was the 1200th most exported product in South Korea. The main destination of Wheat exports from South Korea are: Singapore ($262), Luxembourg ($47), and United States ($26).

The fastest growing export markets for Wheat of South Korea between 2021 and 2022 were Singapore ($87), Luxembourg ($47), and United States ($26).

Imports In 2022, South Korea imported $1.58B in Wheat, becoming the 15th largest importer of Wheat in the world. At the same year, Wheat was the 66th most imported product in South Korea. South Korea imports Wheat primarily from: Australia ($677M), United States ($507M), India ($223M), Canada ($110M), and Bulgaria ($15.8M).

The fastest growing import markets in Wheat for South Korea between 2021 and 2022 were Australia ($345M), India ($210M), and Canada ($45.2M).

COMPANIES In 2023, leading companies such as LG Electronics (84) were at the forefront of shipping Wheat from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Wheat exports accounted up to $0 and imports accounted up to $116M, resulting in a negative trade balance of $116M. Between October 2023 and October 2024 the exports of South Korea's Wheat have remained the same by $0 (N/A%) from $0 to $0, while imports decreased by $-7.27M (-5.88%) from $124M to $116M.

Destinations In October 2024, Wheat were exported mostly to Algeria ($0), China ($0), Turkey ($0), Bulgaria ($0), and Germany ($0), and were imported mostly from United States ($68.3M), Australia ($29.3M), Germany ($6.57M), Bulgaria ($5.42M), and Canada ($3.11M).

Growth In October 2024, the change in Wheat's year-by-year exports was explained primarily by a decrease in exports to . In October 2024, the decrease in Wheat's year-by-year imports was explained primarily by a decrease in imports from France ($-29k or -9.35%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

IMPORT GROWTH (October 2023 - October 2024)$-7.27M(-5.88%)

MAIN DESTINATION (October 2024)Algeria$0

This section shows Wheat'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 Wheat over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$335

IMPORTS (2022)$1.58B

NET TRADE (2022)-$1.58B

In 2022, South Korea exported $335 in Wheat. The main destinations of South Korea exports on Wheat were Singapore ($262), Luxembourg ($47), and United States ($26).

In 2022, South Korea imported $1.58B in Wheat, mainly from Australia ($677M), United States ($507M), India ($223M), Canada ($110M), and Bulgaria ($15.8M).

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