Coffee, tea, mate & spices in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $57.9M in Coffee, tea, mate & spices, making it the 69th largest exporter of Coffee, tea, mate & spices in the world. At the same year, Coffee, tea, mate & spices was the 81st most exported product in South Korea. The main destination of Coffee, tea, mate & spices exports from South Korea are: Japan ($19.9M), United States ($12.9M), Chinese Taipei ($2.65M), Canada ($2.11M), and Philippines ($1.99M).

The fastest growing export markets for Coffee, tea, mate & spices of South Korea between 2021 and 2022 were Japan ($3.73M), United States ($1.63M), and Israel ($1.1M).

Imports In 2022, South Korea imported $1.37B in Coffee, tea, mate & spices, becoming the 13th largest importer of Coffee, tea, mate & spices in the world. At the same year, Coffee, tea, mate & spices was the 48th most imported product in South Korea. South Korea imports Coffee, tea, mate & spices primarily from: Brazil ($205M), Colombia ($175M), United States ($151M), Switzerland ($122M), and Vietnam ($117M).

The fastest growing import markets in Coffee, tea, mate & spices for South Korea between 2021 and 2022 were Brazil ($94.4M), United States ($43.2M), and Colombia ($35.4M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (10.3k), SAMSUNG ELECTRONICS AMERICA (1.37k), and AMAZON SERVICES LLC (116) were at the forefront of shipping Coffee, tea, mate & spices from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Coffee, tea, mate & spices exports accounted up to $3.01M and imports accounted up to $83.8M, resulting in a negative trade balance of $80.8M. Between February 2023 and February 2024 the exports of South Korea's Coffee, tea, mate & spices have decreased by $-378k (-11.2%) from $3.39M to $3.01M, while imports decreased by $-5.18M (-5.82%) from $89M to $83.8M.

Destinations In February 2024, Coffee, tea, mate & spices were exported mostly to United States ($916k), Japan ($632k), Chinese Taipei ($292k), Philippines ($163k), and Singapore ($127k), and were imported mostly from Brazil ($17.6M), Vietnam ($13.4M), United States ($11.1M), Switzerland ($7.14M), and Colombia ($6.19M).

Growth In February 2024, the decrease in Coffee, tea, mate & spices's year-by-year exports was explained primarily by a decrease in exports to United States ($-608k or -35.1%), Philippines ($-172k or -49.1%), and Netherlands ($-161k or -98.8%). In February 2024, the decrease in Coffee, tea, mate & spices's year-by-year imports was explained primarily by a decrease in imports from Peru ($-1.41M or -70.2%), China ($-1.01M or -32.8%), and Switzerland ($-956k or -7.25%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-378k(-11.2%)

IMPORT GROWTH (February 2023 - February 2024)$-5.18M(-5.82%)

MAIN DESTINATION (February 2024)United States$916k

This section shows Coffee, tea, mate & spices'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 Coffee, tea, mate & spices over time.

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