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2022
Exports $104MWorld Rnk 33 / 195
Flag Rnk 370 / 1204
2022
Destination $10M Japan
2021 - 2022
FASTEST GROWING MARKET $10MJapan
2022
PRODUCT COMPLEXITY IN Confectionery Sugar-0.72Rnk 763 / 1025
2022
Imports $201MWorld Rnk 14 / 224
Flag Rnk 357 / 1213
2022
Origin $10.4M China
2021 - 2022
FASTEST GROWING ORIGIN $10.4MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $104M in Confectionery Sugar, making it the 33rd largest exporter of Confectionery Sugar in the world. At the same year, Confectionery Sugar was the 370th most exported product in South Korea. The main destination of Confectionery Sugar exports from South Korea are: Japan ($61.2M), China ($17.3M), Vietnam ($5.96M), United States ($4.67M), and Australia ($3.52M).

The fastest growing export markets for Confectionery Sugar of South Korea between 2021 and 2022 were Japan ($10M), United States ($827k), and Vietnam ($797k).

Imports In 2022, South Korea imported $201M in Confectionery Sugar, becoming the 14th largest importer of Confectionery Sugar in the world. At the same year, Confectionery Sugar was the 357th most imported product in South Korea. South Korea imports Confectionery Sugar primarily from: China ($55.2M), Germany ($42M), Turkey ($13.3M), Spain ($11.6M), and United States ($11.3M).

The fastest growing import markets in Confectionery Sugar for South Korea between 2021 and 2022 were China ($10.4M), Germany ($6.69M), and Japan ($3.07M).

COMPANIES In 2023, leading companies such as LG Electronics (60), CJ Foods (4), and Nexen Tire (2) were at the forefront of shipping Confectionery Sugar from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Confectionery Sugar exports accounted up to $8.8M and imports accounted up to $26.3M, resulting in a negative trade balance of $17.5M. Between July 2023 and July 2024 the exports of South Korea's   Confectionery Sugar have increased by $1.66M (23.3%) from $7.14M to $8.8M, while imports increased by $2.4M (10%) from $23.9M to $26.3M.

Destinations In July 2024, Confectionery Sugar were exported mostly to Japan ($4.14M), United States ($951k), China ($723k), Australia ($527k), and Vietnam ($491k), and were imported mostly from China ($6.89M), Germany ($4.93M), Turkey ($2.46M), Japan ($2.19M), and Spain ($1.12M).

Growth In July 2024, the increase in Confectionery Sugar's year-by-year exports was explained primarily by an increase in exports to China ($1.2M or 126%), Australia ($325k or 677%), and Vietnam ($101k or 49.5%). In July 2024, the increase in Confectionery Sugar's year-by-year imports was explained primarily by an increase in imports from Germany ($585k or 10.4%), Japan ($495k or 71.4%), and Thailand ($428k or 169%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$1.66M(23.3%)
IMPORT GROWTH (July 2023 - July 2024)$2.4M(10%)
MAIN DESTINATION (July 2024)Japan$4.14M

This section shows Confectionery Sugar'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 Confectionery Sugar over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$104M
IMPORTS (2022)$201M
NET TRADE (2022)-$97.8M

In 2022, South Korea exported $104M in Confectionery Sugar. The main destinations of South Korea exports on Confectionery Sugar were Japan ($61.2M), China ($17.3M), Vietnam ($5.96M), United States ($4.67M), and Australia ($3.52M).

In 2022, South Korea imported $201M in Confectionery Sugar, mainly from China ($55.2M), Germany ($42M), Turkey ($13.3M), Spain ($11.6M), and United States ($11.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Confectionery Sugar EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Japan$10M (19.6%)
United States$827k (21.5%)
Vietnam$797k (15.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Confectionery Sugar BY South Korea WERE (2021 - 2022):
China-$2.12M (-10.9%)
Thailand-$782k (-55%)
Hong Kong-$517k (-42.9%)
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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 Confectionery Sugar were:
Germany $1.76B
China $1.38B
Mexico $1.12B
In 2022, South Korea's main importing competitors in Confectionery Sugar were:
United States $3.01B
Germany $834M
United Kingdom $736M

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Trade Value of Confectionery Sugar by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $5.57M
TOP IMPORT POTENTIALChina+ $13.1M

Confectionery Sugar’s highest export potential is United States. With an export gap of $5.57M.   Confectionery Sugar’s highest import potential is China with an import gap of $13.1M.

See methodology.

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