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2022
Exports $13.2kWorld Rnk 55 / 71
Flag Rnk 1167 / 1204
2022
Destination $13.2k Hong Kong
2021 - 2022
FASTEST GROWING MARKET $13.2kHong Kong
2022
PRODUCT COMPLEXITY IN Animal Fat0.41Rnk 403 / 1025
2022
Imports $20.5MWorld Rnk 15 / 154
Flag Rnk 828 / 1213
2022
Origin $6.23M United States
2021 - 2022
FASTEST GROWING ORIGIN $6.23MSpain
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $13.2k in Animal Fat, making it the 55th largest exporter of Animal Fat in the world. At the same year, Animal Fat was the 1167th most exported product in South Korea. The main destination of Animal Fat exports from South Korea are: Hong Kong ($13.2k).

The fastest growing export markets for Animal Fat of South Korea between 2021 and 2022 were Hong Kong ($13.2k).

Imports In 2018, South Korea imported $20.5M in Animal Fat, becoming the 15th largest importer of Animal Fat in the world. At the same year, Animal Fat was the 828th most imported product in South Korea. South Korea imports Animal Fat primarily from: United States ($6.78M), Spain ($6.73M), Canada ($3.87M), Denmark ($2.07M), and Netherlands ($475k).

The fastest growing import markets in Animal Fat for South Korea between 2021 and 2022 were Spain ($6.23M), Canada ($520k), and Chile ($129k).

Latest Trends

November 2024

About

Overview In November 2024 South Korea's Animal Fat exports accounted up to $1k and imports accounted up to $135k, resulting in a negative trade balance of $134k. Between November 2023 and November 2024 the exports of South Korea's   Animal Fat have increased by $1k (N/A%) from $0 to $1k, while imports decreased by $-753k (-84.8%) from $888k to $135k.

Destinations In November 2024, Animal Fat were exported mostly to United Arab Emirates ($1k), Denmark ($0), Spain ($0), and France ($0), and were imported mostly from Spain ($120k), Denmark ($14k), France ($1k), and United Arab Emirates ($0).

Growth In November 2024, the increase in Animal Fat's year-by-year exports was explained primarily by an increase in exports to . In November 2024, the decrease in Animal Fat's year-by-year imports was explained primarily by a decrease in imports from Canada ($-397k or -90%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$1k(N/A%)
IMPORT GROWTH (November 2023 - November 2024)$-753k(-84.8%)
MAIN DESTINATION (November 2024)United Arab Emirates$1k

This section shows Animal Fat'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 Animal Fat over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$13.2k
IMPORTS (2022)$20.5M
NET TRADE (2022)-$20.5M

In 2022, South Korea exported $13.2k in Animal Fat. The main destinations of South Korea exports on Animal Fat were Hong Kong ($13.2k).

In 2022, South Korea imported $20.5M in Animal Fat, mainly from United States ($6.78M), Spain ($6.73M), Canada ($3.87M), Denmark ($2.07M), and Netherlands ($475k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Animal Fat EXPORT MARKETS FOR South Korea WERE (2021 - 2022):Hong Kong$13.2k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Animal Fat BY South Korea WERE (2021 - 2022):Macau-$596 (-100%)
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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 Animal Fat were:
Spain $162M
Germany $140M
Canada $92.6M
In 2022, South Korea's main importing competitors in Animal Fat were:
Philippines $76.1M
Japan $59.2M
Belgium $51.3M

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Trade Value of Animal Fat by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $766
TOP IMPORT POTENTIALNetherlands+ $277k

Animal Fat’s highest export potential is China. With an export gap of $766.   Animal Fat’s highest import potential is Netherlands with an import gap of $277k.

See methodology.

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