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2022
Exports $1.09MWorld Rnk 39 / 146
Flag Rnk 95 / 96
2022
Destination $172k United States
2021 - 2022
FASTEST GROWING MARKET $172kUnited States
2022
PRODUCT COMPLEXITY IN Cork & cork articles-0.17Rnk 605 / 1025
2022
Imports $5.78MWorld Rnk 42 / 208
Flag Rnk 96 / 96
2022
Origin $507k Portugal
2021 - 2022
FASTEST GROWING ORIGIN $507kUnited States
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $1.09M in Cork & cork articles, making it the 39th largest exporter of Cork & cork articles in the world. At the same year, Cork & cork articles was the 95th most exported product in South Korea. The main destination of Cork & cork articles exports from South Korea are: United States ($499k), Belgium ($104k), China ($84.6k), United Arab Emirates ($80.6k), and Japan ($77.6k).

The fastest growing export markets for Cork & cork articles of South Korea between 2021 and 2022 were United States ($172k), United Arab Emirates ($38.7k), and Colombia ($15.2k).

Imports In 2022, South Korea imported $5.78M in Cork & cork articles, becoming the 42nd largest importer of Cork & cork articles in the world. At the same year, Cork & cork articles was the 96th most imported product in South Korea. South Korea imports Cork & cork articles primarily from: Portugal ($2.43M), China ($1.98M), United States ($752k), Italy ($258k), and Japan ($182k).

The fastest growing import markets in Cork & cork articles for South Korea between 2021 and 2022 were United States ($507k), Portugal ($351k), and Italy ($139k).

COMPANIES In 2023, leading companies such as Stelfast (4), LG Electronics (3), and Tesla (2) were at the forefront of shipping Cork & cork articles from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Cork & cork articles exports accounted up to $64k and imports accounted up to $342k, resulting in a negative trade balance of $278k. Between October 2023 and October 2024 the exports of South Korea's   Cork & cork articles have increased by $18k (39.1%) from $46k to $64k, while imports decreased by $-310k (-47.5%) from $652k to $342k.

Destinations In October 2024, Cork & cork articles were exported mostly to United States ($44k), Philippines ($11k), Vietnam ($4k), Australia ($2k), and China ($1k), and were imported mostly from China ($186k), Portugal ($132k), United States ($10k), Japan ($6k), and India ($5k).

Growth In October 2024, the increase in Cork & cork articles's year-by-year exports was explained primarily by an increase in exports to United States ($4k or 33.3%) and United Kingdom ($2k or 100%). In October 2024, the decrease in Cork & cork articles's year-by-year imports was explained primarily by a decrease in imports from China ($-154k or -65.3%) and Italy ($-34k or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$18k(39.1%)
IMPORT GROWTH (October 2023 - October 2024)$-310k(-47.5%)
MAIN DESTINATION (October 2024)United States$44k

This section shows Cork & cork articles'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 Cork & cork articles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.09M
IMPORTS (2022)$5.78M
NET TRADE (2022)-$4.68M

In 2022, South Korea exported $1.09M in Cork & cork articles. The main destinations of South Korea exports on Cork & cork articles were United States ($499k), Belgium ($104k), China ($84.6k), United Arab Emirates ($80.6k), and Japan ($77.6k).

In 2022, South Korea imported $5.78M in Cork & cork articles, mainly from Portugal ($2.43M), China ($1.98M), United States ($752k), Italy ($258k), and Japan ($182k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Cork & cork articles EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$172k (52.5%)
United Arab Emirates$38.7k (92.5%)
Colombia$15.2k (169k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cork & cork articles BY South Korea WERE (2021 - 2022):
Saudi Arabia-$139k (-97.1%)
Qatar-$133k (-100%)
China-$102k (-54.6%)
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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 Cork & cork articles were:
Portugal $1.24B
Spain $428M
France $108M
In 2022, South Korea's main importing competitors in Cork & cork articles were:
France $368M
United States $292M
Portugal $241M

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Trade Value of Cork & cork articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $75.4k
TOP IMPORT POTENTIALChina+ $321k

Cork & cork articles’s highest export potential is United States. With an export gap of $75.4k.   Cork & cork articles’s highest import potential is China with an import gap of $321k.

See methodology.

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