Milk in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $7.84M in Milk, making it the 57th largest exporter of Milk in the world. At the same year, Milk was the 767th most exported product in South Korea. The main destination of Milk exports from South Korea are: China ($7.03M), Vietnam ($201k), Philippines ($164k), Hong Kong ($154k), and Italy ($105k).

The fastest growing export markets for Milk of South Korea between 2021 and 2022 were Vietnam ($133k), Italy ($42.1k), and Malaysia ($29.4k).

Imports In 2022, South Korea imported $181M in Milk, becoming the 10th largest importer of Milk in the world. At the same year, Milk was the 389th most imported product in South Korea. South Korea imports Milk primarily from: Italy ($70.5M), France ($28.2M), Germany ($25.1M), Poland ($16.7M), and Spain ($11.6M).

The fastest growing import markets in Milk for South Korea between 2021 and 2022 were Italy ($35.5M), Spain ($6.51M), and Poland ($5.52M).

COMPANIES In 2023, leading companies such as Samsung (17), LG Electronics (2), and General Motors (1) were at the forefront of shipping Milk from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Milk exports accounted up to $464k and imports accounted up to $14.8M, resulting in a negative trade balance of $14.3M. Between September 2023 and September 2024 the exports of South Korea's Milk have decreased by $-94k (-16.8%) from $558k to $464k, while imports increased by $2.44M (19.8%) from $12.4M to $14.8M.

Destinations In September 2024, Milk were exported mostly to China ($400k), Philippines ($23k), Vietnam ($16k), Singapore ($7k), and Hong Kong ($6k), and were imported mostly from France ($4.69M), Italy ($4.41M), Germany ($1.55M), Poland ($1.16M), and Australia ($810k).

Growth In September 2024, the decrease in Milk's year-by-year exports was explained primarily by a decrease in exports to China ($-281k or -35.9%), Australia ($-11k or -100%), and Philippines ($-6k or -30%). In September 2024, the increase in Milk's year-by-year imports was explained primarily by an increase in imports from Italy ($3.45M or 117%), Australia ($1.08M or 190%), and Spain ($1.03M or 336%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (September 2023 - September 2024)$-94k(-16.8%)

IMPORT GROWTH (September 2023 - September 2024)$2.44M(19.8%)

MAIN DESTINATION (September 2024)China$400k

This section shows Milk'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 Milk over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$7.84M

IMPORTS (2022)$181M

NET TRADE (2022)-$173M

In 2022, South Korea exported $7.84M in Milk. The main destinations of South Korea exports on Milk were China ($7.03M), Vietnam ($201k), Philippines ($164k), Hong Kong ($154k), and Italy ($105k).

In 2022, South Korea imported $181M in Milk, mainly from Italy ($70.5M), France ($28.2M), Germany ($25.1M), Poland ($16.7M), and Spain ($11.6M).

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