Wheat in South Korea | The Observatory of Economic Complexity

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Exports In 2023, South Korea exported $41.4k in Wheat, making it the 96th largest exporter of Wheat in the world. At the same year, Wheat was the 1111th most exported product in South Korea. The main destination of Wheat exports from South Korea are: Mauritius ($41.3k) and Netherlands ($111).

The fastest growing export markets for Wheat of South Korea between 2022 and 2023 were Mauritius ($41.3k) and Netherlands ($111).

Imports In 2023, South Korea imported $1.38B in Wheat, becoming the 14th largest importer of Wheat in the world. At the same year, Wheat was the 65th most imported product in South Korea. South Korea imports Wheat primarily from: Australia ($737M), United States ($418M), Bulgaria ($110M), Canada ($55.1M), and Romania ($44.6M).

The fastest growing import markets in Wheat for South Korea between 2022 and 2023 were Australia ($112M), Bulgaria ($67.9M), and Romania ($33.4M).

COMPANIES In 2024, leading companies such as LG Electronics (42) were at the forefront of shipping Wheat from South Korea to the United States.

Latest Trends

December 2024

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Overview In December 2024 South Korea's Wheat exports accounted up to $0 and imports accounted up to $108M, resulting in a negative trade balance of $108M. Between December 2023 and December 2024 the exports of South Korea's Wheat have remained the same by $0 (N/A%) from $0 to $0, while imports increased by $18.2M (20.3%) from $89.5M to $108M.

Destinations In December 2024, Wheat were exported mostly to China ($0), Hong Kong ($0), Turkey ($0), Bulgaria ($0), and Czechia ($0), and were imported mostly from United States ($63.4M), Australia ($28.3M), Canada ($6.25M), Russia ($4.55M), and Czechia ($2.44M).

Growth In December 2024, the change in Wheat's year-by-year exports was explained primarily by a decrease in exports to . In December 2024, the increase in Wheat's year-by-year imports was explained primarily by an increase in imports from Canada ($18.4M or 6.18k%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

IMPORT GROWTH (December 2023 - December 2024)$18.2M(20.3%)

MAIN DESTINATION (December 2024)China$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 (2023)$41.4k

IMPORTS (2023)$1.38B

NET TRADE (2023)-$1.38B

In 2023, South Korea exported $41.4k in Wheat. The main destinations of South Korea exports on Wheat were Mauritius ($41.3k) and Netherlands ($111).

In 2023, South Korea imported $1.38B in Wheat, mainly from Australia ($737M), United States ($418M), Bulgaria ($110M), Canada ($55.1M), and Romania ($44.6M).

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