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2022
Exports $2.17MWorld Rnk 26 / 132
Flag Rnk 914 / 1204
2022
Destination $237k Japan
2021 - 2022
FASTEST GROWING MARKET $237kMalaysia
2022
PRODUCT COMPLEXITY IN Cooking Hand Tools0.5Rnk 368 / 1025
2022
Imports $22MWorld Rnk 4 / 209
Flag Rnk 819 / 1213
2022
Origin $7.72M China
2021 - 2022
FASTEST GROWING ORIGIN $7.72MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $2.17M in Cooking Hand Tools, making it the 26th largest exporter of Cooking Hand Tools in the world. At the same year, Cooking Hand Tools was the 914th most exported product in South Korea. The main destination of Cooking Hand Tools exports from South Korea are: Japan ($1.08M), United States ($344k), Malaysia ($241k), Chinese Taipei ($112k), and Canada ($77.6k).

The fastest growing export markets for Cooking Hand Tools of South Korea between 2021 and 2022 were Malaysia ($237k), Chinese Taipei ($88.7k), and Canada ($41k).

Imports In 2022, South Korea imported $22M in Cooking Hand Tools, becoming the 4th largest importer of Cooking Hand Tools in the world. At the same year, Cooking Hand Tools was the 819th most imported product in South Korea. South Korea imports Cooking Hand Tools primarily from: China ($18.5M), Germany ($791k), United States ($709k), Japan ($324k), and Sweden ($290k).

The fastest growing import markets in Cooking Hand Tools for South Korea between 2021 and 2022 were China ($7.72M), Sweden ($288k), and Germany ($130k).

COMPANIES In 2023, leading companies such as Walong Marketing (32), Amazon (2), and Wismettac Asian Foods (1) were at the forefront of shipping Cooking Hand Tools from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Cooking Hand Tools exports accounted up to $47k and imports accounted up to $1.46M, resulting in a negative trade balance of $1.41M. Between July 2023 and July 2024 the exports of South Korea's   Cooking Hand Tools have decreased by $-161k (-77.4%) from $208k to $47k, while imports increased by $512k (54%) from $948k to $1.46M.

Destinations In July 2024, Cooking Hand Tools were exported mostly to Japan ($21k), United States ($19k), Singapore ($2k), United Kingdom ($2k), and Australia ($2k), and were imported mostly from China ($1.12M), Germany ($119k), Portugal ($80k), Japan ($42k), and France ($31k).

Growth In July 2024, the decrease in Cooking Hand Tools's year-by-year exports was explained primarily by a decrease in exports to Chinese Taipei ($-20k or -100%), Canada ($-14k or -56%), and Belgium ($-11k or -100%). In July 2024, the increase in Cooking Hand Tools's year-by-year imports was explained primarily by an increase in imports from China ($362k or 26.4%), Japan ($51k or 170%), and Israel ($23k or 230%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-161k(-77.4%)
IMPORT GROWTH (July 2023 - July 2024)$512k(54%)
MAIN DESTINATION (July 2024)Japan$21k

This section shows Cooking Hand Tools'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 Cooking Hand Tools over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$2.17M
IMPORTS (2022)$22M
NET TRADE (2022)-$19.8M

In 2022, South Korea exported $2.17M in Cooking Hand Tools. The main destinations of South Korea exports on Cooking Hand Tools were Japan ($1.08M), United States ($344k), Malaysia ($241k), Chinese Taipei ($112k), and Canada ($77.6k).

In 2022, South Korea imported $22M in Cooking Hand Tools, mainly from China ($18.5M), Germany ($791k), United States ($709k), Japan ($324k), and Sweden ($290k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Cooking Hand Tools EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Malaysia$237k (6.14k%)
Chinese Taipei$88.7k (389%)
Canada$41k (112%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cooking Hand Tools BY South Korea WERE (2021 - 2022):
Japan-$507k (-31.9%)
United States-$481k (-58.3%)
China-$397k (-92.1%)
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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 Cooking Hand Tools were:
China $357M
Germany $40.9M
France $33.7M
In 2022, South Korea's main importing competitors in Cooking Hand Tools were:
United States $105M
Germany $48.9M
Canada $22M

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Trade Value of Cooking Hand Tools by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $192k
TOP IMPORT POTENTIALChina+ $434k

Cooking Hand Tools’s highest export potential is United States. With an export gap of $192k.   Cooking Hand Tools’s highest import potential is China with an import gap of $434k.

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