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2022
Exports $3.01MWorld Rnk 56 / 121
Flag Rnk 883 / 1204
2022
Destination $202k Hong Kong
2021 - 2022
FASTEST GROWING MARKET $202kMongolia
2022
PRODUCT COMPLEXITY IN Bovine Meat-0.66Rnk 747 / 1025
2022
Imports $1.38BWorld Rnk 7 / 204
Flag Rnk 78 / 1213
2022
Origin $130k United States
2021 - 2022
FASTEST GROWING ORIGIN $130kNetherlands
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $3.01M in Bovine Meat, making it the 56th largest exporter of Bovine Meat in the world. At the same year, Bovine Meat was the 883rd most exported product in South Korea. The main destination of Bovine Meat exports from South Korea are: Hong Kong ($2.79M), Mongolia ($202k), and Macau ($8.66k).

The fastest growing export markets for Bovine Meat of South Korea between 2021 and 2022 were Mongolia ($202k) and Macau ($3.61k).

Imports In 2022, South Korea imported $1.38B in Bovine Meat, becoming the 7th largest importer of Bovine Meat in the world. At the same year, Bovine Meat was the 78th most imported product in South Korea. South Korea imports Bovine Meat primarily from: United States ($934M), Australia ($438M), Canada ($2.28M), New Zealand ($1.03M), and Netherlands ($151k).

The fastest growing import markets in Bovine Meat for South Korea between 2021 and 2022 were Netherlands ($130k).

COMPANIES In 2023, leading companies such as LG Electronics (1) were at the forefront of shipping Bovine Meat from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Bovine Meat exports accounted up to $269k and imports accounted up to $111M, resulting in a negative trade balance of $111M. Between October 2023 and October 2024 the exports of South Korea's   Bovine Meat have decreased by $-20k (-6.92%) from $289k to $269k, while imports decreased by $-7.47M (-6.28%) from $119M to $111M.

Destinations In October 2024, Bovine Meat were exported mostly to Hong Kong ($257k), Mongolia ($12k), Japan ($0), Canada ($0), and United States ($0), and were imported mostly from United States ($80.2M), Australia ($30.1M), Canada ($1.09M), Hong Kong ($0), and Japan ($0).

Growth In October 2024, the decrease in Bovine Meat's year-by-year exports was explained primarily by a decrease in exports to Hong Kong ($-48k or -42.1%). In October 2024, the decrease in Bovine Meat's year-by-year imports was explained primarily by a decrease in imports from United States ($-30M or -31%), Australia ($-16.6M or -29.5%), and Canada ($-1.47M or -97.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-20k(-6.92%)
IMPORT GROWTH (October 2023 - October 2024)$-7.47M(-6.28%)
MAIN DESTINATION (October 2024)Hong Kong$257k

This section shows Bovine Meat'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 Bovine Meat over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$3.01M
IMPORTS (2022)$1.38B
NET TRADE (2022)-$1.37B

In 2022, South Korea exported $3.01M in Bovine Meat. The main destinations of South Korea exports on Bovine Meat were Hong Kong ($2.79M), Mongolia ($202k), and Macau ($8.66k).

In 2022, South Korea imported $1.38B in Bovine Meat, mainly from United States ($934M), Australia ($438M), Canada ($2.28M), New Zealand ($1.03M), and Netherlands ($151k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Bovine Meat EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Mongolia$202k (1%)
Macau$3.61k (71.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Bovine Meat BY South Korea WERE (2021 - 2022):
Hong Kong-$59.4k (-2.08%)
United Arab Emirates-$22.2k (-100%)
Iraq-$1.85k (-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 Bovine Meat were:
United States $4.32B
Netherlands $2.86B
Australia $2.72B
In 2022, South Korea's main importing competitors in Bovine Meat were:
United States $4.85B
Germany $2.36B
Netherlands $2.18B

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Trade Value of Bovine Meat by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $3.21k
TOP IMPORT POTENTIALCanada+ $5.37M

Bovine Meat’s highest export potential is United States. With an export gap of $3.21k.   Bovine Meat’s highest import potential is Canada with an import gap of $5.37M.

See methodology.

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