Sign In
Pricing

2022
Exports $43MWorld Rnk 29 / 141
Flag Rnk 518 / 1204
2022
Destination $9.27M Singapore
2021 - 2022
FASTEST GROWING MARKET $9.27MSingapore
2022
PRODUCT COMPLEXITY IN Inedible Fats and Oils-0.34Rnk 660 / 1025
2022
Imports $109MWorld Rnk 19 / 186
Flag Rnk 496 / 1213
2022
Origin $18.8M China
2021 - 2022
FASTEST GROWING ORIGIN $18.8MJapan
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $43M in Inedible Fats and Oils, making it the 29th largest exporter of Inedible Fats and Oils in the world. At the same year, Inedible Fats and Oils was the 518th most exported product in South Korea. The main destination of Inedible Fats and Oils exports from South Korea are: Singapore ($24.9M), Malaysia ($12.2M), Netherlands ($1.75M), Japan ($1.42M), and Hong Kong ($582k).

The fastest growing export markets for Inedible Fats and Oils of South Korea between 2021 and 2022 were Singapore ($9.27M), Malaysia ($7.15M), and United Kingdom ($424k).

Imports In 2022, South Korea imported $109M in Inedible Fats and Oils, becoming the 19th largest importer of Inedible Fats and Oils in the world. At the same year, Inedible Fats and Oils was the 496th most imported product in South Korea. South Korea imports Inedible Fats and Oils primarily from: China ($34.3M), Japan ($32.9M), Chinese Taipei ($14.7M), Vietnam ($9.21M), and Indonesia ($8.94M).

The fastest growing import markets in Inedible Fats and Oils for South Korea between 2021 and 2022 were Japan ($18.8M), Vietnam ($9.14M), and Chinese Taipei ($3.22M).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Inedible Fats and Oils exports accounted up to $19.4M and imports accounted up to $6.82M, resulting in a positive trade balance of $12.6M. Between July 2023 and July 2024 the exports of South Korea's   Inedible Fats and Oils have increased by $17.2M (764%) from $2.25M to $19.4M, while imports increased by $2.6M (61.7%) from $4.22M to $6.82M.

Destinations In July 2024, Inedible Fats and Oils were exported mostly to United States ($15.8M), Singapore ($1.85M), Malaysia ($1.35M), Vietnam ($149k), and India ($105k), and were imported mostly from Japan ($3.52M), China ($1.38M), Russia ($672k), Chinese Taipei ($545k), and Chile ($172k).

Growth In July 2024, the increase in Inedible Fats and Oils's year-by-year exports was explained primarily by an increase in exports to Vietnam ($31k or 443%). In July 2024, the increase in Inedible Fats and Oils's year-by-year imports was explained primarily by an increase in imports from Japan ($2.27M or 91.3%), Belgium ($34k or 85%), and Spain ($13k or 108%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$17.2M(764%)
IMPORT GROWTH (July 2023 - July 2024)$2.6M(61.7%)
MAIN DESTINATION (July 2024)United States$15.8M

This section shows Inedible Fats and Oils'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 Inedible Fats and Oils over time.

For full datasets download visit Bulk Download page.

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Trade Balance

Color
EXPORTS (2022)$43M
IMPORTS (2022)$109M
NET TRADE (2022)-$65.7M

In 2022, South Korea exported $43M in Inedible Fats and Oils. The main destinations of South Korea exports on Inedible Fats and Oils were Singapore ($24.9M), Malaysia ($12.2M), Netherlands ($1.75M), Japan ($1.42M), and Hong Kong ($582k).

In 2022, South Korea imported $109M in Inedible Fats and Oils, mainly from China ($34.3M), Japan ($32.9M), Chinese Taipei ($14.7M), Vietnam ($9.21M), and Indonesia ($8.94M).

Explore Visualizations

Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Inedible Fats and Oils EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Singapore$9.27M (59.4%)
Malaysia$7.15M (142%)
United Kingdom$424k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Inedible Fats and Oils BY South Korea WERE (2021 - 2022):
Finland-$2.99M (-100%)
Netherlands-$2.81M (-61.6%)
Italy-$1.19M (-100%)
Explore Visualizations

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Inedible Fats and Oils were:
China $2.4B
Netherlands $1.68B
Malaysia $942M
In 2022, South Korea's main importing competitors in Inedible Fats and Oils were:
Netherlands $2.47B
Singapore $1.19B
Spain $1.03B

Explore Visualizations

Trade Value of Inedible Fats and Oils by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALNetherlands+ $1.52M
TOP IMPORT POTENTIALChina+ $13.3M

Inedible Fats and Oils’s highest export potential is Netherlands. With an export gap of $1.52M.   Inedible Fats and Oils’s highest import potential is China with an import gap of $13.3M.

See methodology.

Subscribe today to OEC pro and access the latest data

Sign Up

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms