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2022
Exports $21.9MWorld Rnk 30 / 140
Flag Rnk 632 / 1204
2022
Destination $2.35M United Arab Emirates
2021 - 2022
FASTEST GROWING MARKET $2.35MIreland
2022
PRODUCT COMPLEXITY IN Enzymes1.11Rnk 130 / 1025
2022
Imports $103MWorld Rnk 21 / 200
Flag Rnk 506 / 1213
2022
Origin $575k China
2021 - 2022
FASTEST GROWING ORIGIN $575kBelgium
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $21.9M in Enzymes, making it the 30th largest exporter of Enzymes in the world. At the same year, Enzymes was the 632nd most exported product in South Korea. The main destination of Enzymes exports from South Korea are: United Arab Emirates ($4.02M), Ireland ($3.45M), Mexico ($2.44M), United States ($2.15M), and Peru ($1.85M).

The fastest growing export markets for Enzymes of South Korea between 2021 and 2022 were Ireland ($2.35M), United Arab Emirates ($1.92M), and Peru ($1.74M).

Imports In 2022, South Korea imported $103M in Enzymes, becoming the 21st largest importer of Enzymes in the world. At the same year, Enzymes was the 506th most imported product in South Korea. South Korea imports Enzymes primarily from: China ($28.6M), United States ($16.4M), Denmark ($12.6M), Germany ($11.4M), and Japan ($9.39M).

The fastest growing import markets in Enzymes for South Korea between 2021 and 2022 were Belgium ($575k), South Africa ($551k), and Netherlands ($526k).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Enzymes exports accounted up to $2.06M and imports accounted up to $9.2M, resulting in a negative trade balance of $7.15M. Between July 2023 and July 2024 the exports of South Korea's   Enzymes have increased by $721k (54%) from $1.34M to $2.06M, while imports increased by $2.28M (33%) from $6.92M to $9.2M.

Destinations In July 2024, Enzymes were exported mostly to United Arab Emirates ($757k), Ireland ($465k), Mexico ($296k), United States ($238k), and United Kingdom ($131k), and were imported mostly from China ($3.12M), Denmark ($1.57M), United States ($1.1M), Japan ($497k), and Finland ($378k).

Growth In July 2024, the increase in Enzymes's year-by-year exports was explained primarily by an increase in exports to Mexico ($81k or 90%), United Arab Emirates ($61k or 21.3%), and Chinese Taipei ($32k or 533%). In July 2024, the increase in Enzymes's year-by-year imports was explained primarily by an increase in imports from China ($2.47M or 101%), Denmark ($400k or 38.6%), and Finland ($262k or 76.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$721k(54%)
IMPORT GROWTH (July 2023 - July 2024)$2.28M(33%)
MAIN DESTINATION (July 2024)United Arab Emirates$757k

This section shows Enzymes'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 Enzymes over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$21.9M
IMPORTS (2022)$103M
NET TRADE (2022)-$81.4M

In 2022, South Korea exported $21.9M in Enzymes. The main destinations of South Korea exports on Enzymes were United Arab Emirates ($4.02M), Ireland ($3.45M), Mexico ($2.44M), United States ($2.15M), and Peru ($1.85M).

In 2022, South Korea imported $103M in Enzymes, mainly from China ($28.6M), United States ($16.4M), Denmark ($12.6M), Germany ($11.4M), and Japan ($9.39M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Enzymes EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Ireland$2.35M (213%)
United Arab Emirates$1.92M (91.2%)
Peru$1.74M (1.65k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Enzymes BY South Korea WERE (2021 - 2022):
Switzerland-$712k (-99.8%)
Vietnam-$340k (-55.3%)
Canada-$246k (-95%)
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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 Enzymes were:
Denmark $1.54B
United States $1.02B
Netherlands $659M
In 2022, South Korea's main importing competitors in Enzymes were:
United States $1.08B
Germany $605M
Netherlands $556M

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Trade Value of Enzymes by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $1.85M
TOP IMPORT POTENTIALChina+ $6M

Enzymes’s highest export potential is United States. With an export gap of $1.85M.   Enzymes’s highest import potential is China with an import gap of $6M.

See methodology.

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