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2022
Exports $130kWorld Rnk 91 / 136
Flag Rnk 1110 / 1204
2022
Destination $12.5k Italy
2021 - 2022
FASTEST GROWING MARKET $12.5kUnited Arab Emirates
2022
PRODUCT COMPLEXITY IN Molasses-1.56Rnk 955 / 1025
2022
Imports $86MWorld Rnk 5 / 193
Flag Rnk 542 / 1213
2022
Origin $17.7M Indonesia
2021 - 2022
FASTEST GROWING ORIGIN $17.7MIndonesia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $130k in Molasses, making it the 91st largest exporter of Molasses in the world. At the same year, Molasses was the 1110th most exported product in South Korea. The main destination of Molasses exports from South Korea are: Italy ($96.3k), United Arab Emirates ($15.8k), Netherlands ($7.51k), Kuwait ($6.2k), and United States ($2.05k).

The fastest growing export markets for Molasses of South Korea between 2021 and 2022 were United Arab Emirates ($12.5k), Netherlands ($7.14k), and Kuwait ($6.2k).

Imports In 2022, South Korea imported $86M in Molasses, becoming the 5th largest importer of Molasses in the world. At the same year, Molasses was the 542nd most imported product in South Korea. South Korea imports Molasses primarily from: Indonesia ($27.7M), Australia ($24.2M), India ($18.3M), Pakistan ($6.36M), and Thailand ($4.77M).

The fastest growing import markets in Molasses for South Korea between 2021 and 2022 were Indonesia ($17.7M), Pakistan ($6.36M), and Australia ($3.02M).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Molasses exports accounted up to $0 and imports accounted up to $10.5M, resulting in a negative trade balance of $10.5M. Between October 2023 and October 2024 the exports of South Korea's   Molasses have remained the same by $0 (N/A%) from $0 to $0, while imports increased by $4.36M (70.8%) from $6.15M to $10.5M.

Destinations In October 2024, Molasses were exported mostly to China ($0), Pakistan ($0), Philippines ($0), Singapore ($0), and Thailand ($0), and were imported mostly from Australia ($6.63M), Pakistan ($2.19M), Thailand ($1.18M), Vietnam ($444k), and Canada ($41k).

Growth In October 2024, the change in Molasses's year-by-year exports was explained primarily by a decrease in exports to . In October 2024, the increase in Molasses's year-by-year imports was explained primarily by an increase in imports from India ($3.18M or 153%), Australia ($2.88M or 348%), and Canada ($9k or 30%).

Subnational Monthly Trade

Time Scale
Flow
Color
IMPORT GROWTH (October 2023 - October 2024)$4.36M(70.8%)
MAIN DESTINATION (October 2024)China$0

This section shows Molasses'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 Molasses over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$130k
IMPORTS (2022)$86M
NET TRADE (2022)-$85.9M

In 2022, South Korea exported $130k in Molasses. The main destinations of South Korea exports on Molasses were Italy ($96.3k), United Arab Emirates ($15.8k), Netherlands ($7.51k), Kuwait ($6.2k), and United States ($2.05k).

In 2022, South Korea imported $86M in Molasses, mainly from Indonesia ($27.7M), Australia ($24.2M), India ($18.3M), Pakistan ($6.36M), and Thailand ($4.77M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Molasses EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United Arab Emirates$12.5k (374%)
Netherlands$7.14k (1.92k%)
Kuwait$6.2k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Molasses BY South Korea WERE (2021 - 2022):
Italy-$50.9k (-34.6%)
Paraguay-$3.15k (-100%)
New Zealand-$295 (-100%)
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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 Molasses were:
India $348M
Indonesia $117M
Russia $80.8M
In 2022, South Korea's main importing competitors in Molasses were:
United States $180M
United Kingdom $135M
Netherlands $112M

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Trade Value of Molasses by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALNetherlands+ $9.32k
TOP IMPORT POTENTIALIndia+ $2.96M

Molasses’s highest export potential is Netherlands. With an export gap of $9.32k.   Molasses’s highest import potential is India with an import gap of $2.96M.

See methodology.

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