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2022
Exports $71.5MWorld Rnk 86 / 221
Flag Rnk 77 / 96
2022
Destination $2M Japan
2021 - 2022
FASTEST GROWING MARKET $2MIndia
2022
PRODUCT COMPLEXITY IN Wood, wood articles, & charcoal0.3Rnk 451 / 1025
2022
Imports $3.67BWorld Rnk 12 / 226
Flag Rnk 23 / 96
2022
Origin $162M Vietnam
2021 - 2022
FASTEST GROWING ORIGIN $162MVietnam
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $71.5M in Wood, wood articles, & charcoal, making it the 86th largest exporter of Wood, wood articles, & charcoal in the world. At the same year, Wood, wood articles, & charcoal was the 77th most exported product in South Korea. The main destination of Wood, wood articles, & charcoal exports from South Korea are: Japan ($14.4M), United States ($9.57M), China ($8.84M), Indonesia ($7.51M), and Vietnam ($3.56M).

The fastest growing export markets for Wood, wood articles, & charcoal of South Korea between 2021 and 2022 were India ($2M), Indonesia ($1.43M), and United Kingdom ($1.14M).

Imports In 2022, South Korea imported $3.67B in Wood, wood articles, & charcoal, becoming the 12th largest importer of Wood, wood articles, & charcoal in the world. At the same year, Wood, wood articles, & charcoal was the 23rd most imported product in South Korea. South Korea imports Wood, wood articles, & charcoal primarily from: Vietnam ($985M), Indonesia ($489M), China ($488M), New Zealand ($253M), and Russia ($224M).

The fastest growing import markets in Wood, wood articles, & charcoal for South Korea between 2021 and 2022 were Vietnam ($162M), Chile ($38.8M), and Indonesia ($25.5M).

COMPANIES In 2023, leading companies such as LG Electronics (4.88k), Volkswagen (22), and Tesla (12) were at the forefront of shipping Wood, wood articles, & charcoal from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Wood, wood articles, & charcoal exports accounted up to $5.24M and imports accounted up to $261M, resulting in a negative trade balance of $255M. Between October 2023 and October 2024 the exports of South Korea's   Wood, wood articles, & charcoal have decreased by $-860k (-14.1%) from $6.1M to $5.24M, while imports increased by $2.06M (0.8%) from $259M to $261M.

Destinations In October 2024, Wood, wood articles, & charcoal were exported mostly to United States ($1.17M), Japan ($719k), China ($619k), Netherlands ($431k), and Indonesia ($385k), and were imported mostly from Vietnam ($54.3M), Indonesia ($31.9M), China ($29.2M), Russia ($22.5M), and New Zealand ($18.7M).

Growth In October 2024, the decrease in Wood, wood articles, & charcoal's year-by-year exports was explained primarily by a decrease in exports to China ($-628k or -62.7%), Indonesia ($-238k or -55.9%), and Japan ($-146k or -11.9%). In October 2024, the increase in Wood, wood articles, & charcoal's year-by-year imports was explained primarily by an increase in imports from Vietnam ($5.45M or 6.58%), Chile ($2.29M or 32.1%), and Laos ($1.42M or 39.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-860k(-14.1%)
IMPORT GROWTH (October 2023 - October 2024)$2.06M(0.8%)
MAIN DESTINATION (October 2024)United States$1.17M

This section shows Wood, wood articles, & charcoal'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, wood articles, & charcoal over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$71.5M
IMPORTS (2022)$3.67B
NET TRADE (2022)-$3.6B

In 2022, South Korea exported $71.5M in Wood, wood articles, & charcoal. The main destinations of South Korea exports on Wood, wood articles, & charcoal were Japan ($14.4M), United States ($9.57M), China ($8.84M), Indonesia ($7.51M), and Vietnam ($3.56M).

In 2022, South Korea imported $3.67B in Wood, wood articles, & charcoal, mainly from Vietnam ($985M), Indonesia ($489M), China ($488M), New Zealand ($253M), and Russia ($224M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Wood, wood articles, & charcoal EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
India$2M (190%)
Indonesia$1.43M (23.6%)
United Kingdom$1.14M (123%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Wood, wood articles, & charcoal BY South Korea WERE (2021 - 2022):
United States-$2.4M (-20%)
Russia-$1.92M (-86.3%)
Cambodia-$1.92M (-90.9%)
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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, wood articles, & charcoal were:
Canada $20B
China $18.7B
Germany $12.9B
In 2022, South Korea's main importing competitors in Wood, wood articles, & charcoal were:
United States $34B
China $18B
Germany $11.6B

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Trade Value of Wood, wood articles, & charcoal by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $8.82M
TOP IMPORT POTENTIALChina+ $118M

Wood, wood articles, & charcoal’s highest export potential is United States. With an export gap of $8.82M.   Wood, wood articles, & charcoal’s highest import potential is China with an import gap of $118M.

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