Honey in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $145k in Honey, making it the 89th largest exporter of Honey in the world. At the same year, Honey was the 1105th most exported product in South Korea. The main destination of Honey exports from South Korea are: Hong Kong ($57.7k), Vietnam ($30.8k), Singapore ($21.4k), Philippines ($13k), and United States ($9.26k).

The fastest growing export markets for Honey of South Korea between 2021 and 2022 were Vietnam ($30.5k), Hong Kong ($24.2k), and Philippines ($8.33k).

Imports In 2022, South Korea imported $12.9M in Honey, becoming the 31st largest importer of Honey in the world. At the same year, Honey was the 900th most imported product in South Korea. South Korea imports Honey primarily from: New Zealand ($5.49M), United States ($3.12M), Australia ($1.03M), Canada ($847k), and Greece ($788k).

The fastest growing import markets in Honey for South Korea between 2021 and 2022 were New Zealand ($1.55M), China ($253k), and Canada ($154k).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Honey exports accounted up to $1k and imports accounted up to $1.69M, resulting in a negative trade balance of $1.68M. Between October 2023 and October 2024 the exports of South Korea's Honey have decreased by $-10k (-90.9%) from $11k to $1k, while imports increased by $523k (45%) from $1.16M to $1.69M.

Destinations In October 2024, Honey were exported mostly to United States ($1k), South Africa ($0), China ($0), Hong Kong ($0), and Indonesia ($0), and were imported mostly from United States ($788k), New Zealand ($430k), Canada ($241k), Vietnam ($97k), and Australia ($84k).

Growth In October 2024, the decrease in Honey's year-by-year exports was explained primarily by a decrease in exports to Singapore ($-5k or -100%). In October 2024, the increase in Honey's year-by-year imports was explained primarily by an increase in imports from Thailand ($1k or 33.3%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (October 2023 - October 2024)$-10k(-90.9%)

IMPORT GROWTH (October 2023 - October 2024)$523k(45%)

MAIN DESTINATION (October 2024)United States$1k

This section shows Honey'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 Honey over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$145k

IMPORTS (2022)$12.9M

NET TRADE (2022)-$12.7M

In 2022, South Korea exported $145k in Honey. The main destinations of South Korea exports on Honey were Hong Kong ($57.7k), Vietnam ($30.8k), Singapore ($21.4k), Philippines ($13k), and United States ($9.26k).

In 2022, South Korea imported $12.9M in Honey, mainly from New Zealand ($5.49M), United States ($3.12M), Australia ($1.03M), Canada ($847k), and Greece ($788k).

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