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2022
Exports $1.62MWorld Rnk 48 / 183
Flag Rnk 943 / 1204
2022
Destination $282k United States
2021 - 2022
FASTEST GROWING MARKET $282kUnited States
2022
PRODUCT COMPLEXITY IN Wood Kitchenware-0.35Rnk 662 / 1025
2022
Imports $84.6MWorld Rnk 7 / 220
Flag Rnk 547 / 1213
2022
Origin $4.28M China
2021 - 2022
FASTEST GROWING ORIGIN $4.28MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $1.62M in Wood Kitchenware, making it the 48th largest exporter of Wood Kitchenware in the world. At the same year, Wood Kitchenware was the 943rd most exported product in South Korea. The main destination of Wood Kitchenware exports from South Korea are: United States ($515k), Japan ($237k), Germany ($74.9k), Philippines ($69.9k), and China ($56.6k).

The fastest growing export markets for Wood Kitchenware of South Korea between 2021 and 2022 were United States ($282k), Germany ($54.3k), and Sweden ($25.6k).

Imports In 2022, South Korea imported $84.6M in Wood Kitchenware, becoming the 7th largest importer of Wood Kitchenware in the world. At the same year, Wood Kitchenware was the 547th most imported product in South Korea. South Korea imports Wood Kitchenware primarily from: China ($52.1M), Vietnam ($17M), Indonesia ($7.82M), Philippines ($2.2M), and Brazil ($758k).

The fastest growing import markets in Wood Kitchenware for South Korea between 2021 and 2022 were China ($4.28M), Indonesia ($2.24M), and Brazil ($445k).

COMPANIES In 2023, leading companies such as QVC Inc (1) were at the forefront of shipping Wood Kitchenware from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Wood Kitchenware exports accounted up to $124k and imports accounted up to $6.22M, resulting in a negative trade balance of $6.09M. Between July 2023 and July 2024 the exports of South Korea's   Wood Kitchenware have remained the same by $0 (0%) from $124k to $124k, while imports increased by $35k (0.57%) from $6.18M to $6.22M.

Destinations In July 2024, Wood Kitchenware were exported mostly to United States ($72k), China ($20k), Canada ($6k), Hong Kong ($4k), and Japan ($4k), and were imported mostly from China ($3.42M), Vietnam ($1.33M), Indonesia ($510k), United States ($369k), and Brazil ($141k).

Growth In July 2024, the change in Wood Kitchenware's year-by-year exports was explained primarily by a decrease in exports to France ($-28k or -96.6%), Japan ($-9k or -45%), and China ($-7k or -100%). In July 2024, the increase in Wood Kitchenware's year-by-year imports was explained primarily by an increase in imports from Thailand ($36k or 900%), Japan ($32k or 39.5%), and Sweden ($25k or 2.5k%).

Subnational Monthly Trade

Time Scale
Flow
Color
IMPORT GROWTH (July 2023 - July 2024)$35k(0.57%)
MAIN DESTINATION (July 2024)United States$72k

This section shows Wood Kitchenware'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 Wood Kitchenware over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.62M
IMPORTS (2022)$84.6M
NET TRADE (2022)-$83M

In 2022, South Korea exported $1.62M in Wood Kitchenware. The main destinations of South Korea exports on Wood Kitchenware were United States ($515k), Japan ($237k), Germany ($74.9k), Philippines ($69.9k), and China ($56.6k).

In 2022, South Korea imported $84.6M in Wood Kitchenware, mainly from China ($52.1M), Vietnam ($17M), Indonesia ($7.82M), Philippines ($2.2M), and Brazil ($758k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Wood Kitchenware EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$282k (121%)
Germany$54.3k (263%)
Sweden$25.6k (578%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Wood Kitchenware BY South Korea WERE (2021 - 2022):
China-$149k (-72.5%)
Denmark-$67.4k (-98.1%)
Japan-$60.3k (-20.3%)
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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 Wood Kitchenware were:
China $1.58B
Vietnam $93M
India $90.3M
In 2022, South Korea's main importing competitors in Wood Kitchenware were:
United States $481M
Japan $272M
Germany $176M

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Trade Value of Wood Kitchenware by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $334k
TOP IMPORT POTENTIALChina+ $8M

Wood Kitchenware’s highest export potential is United States. With an export gap of $334k.   Wood Kitchenware’s highest import potential is China with an import gap of $8M.

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