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2022
Exports $23.3MWorld Rnk 6 / 172
Flag Rnk 617 / 1204
2022
Destination $400k United States
2021 - 2022
FASTEST GROWING MARKET $400kItaly
2022
PRODUCT COMPLEXITY IN Other Cutlery-0.49Rnk 697 / 1025
2022
Imports $35.4MWorld Rnk 5 / 219
Flag Rnk 742 / 1213
2022
Origin $1.2M China
2021 - 2022
FASTEST GROWING ORIGIN $1.2MVietnam
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $23.3M in Other Cutlery, making it the 6th largest exporter of Other Cutlery in the world. At the same year, Other Cutlery was the 617th most exported product in South Korea. The main destination of Other Cutlery exports from South Korea are: United States ($2.82M), Hong Kong ($2.43M), Japan ($1.44M), Italy ($1.41M), and Thailand ($1.35M).

The fastest growing export markets for Other Cutlery of South Korea between 2021 and 2022 were Italy ($400k), Saudi Arabia ($353k), and Iraq ($226k).

Imports In 2022, South Korea imported $35.4M in Other Cutlery, becoming the 5th largest importer of Other Cutlery in the world. At the same year, Other Cutlery was the 742nd most imported product in South Korea. South Korea imports Other Cutlery primarily from: China ($22.3M), Vietnam ($8.41M), Japan ($2.06M), Germany ($1.21M), and Pakistan ($397k).

The fastest growing import markets in Other Cutlery for South Korea between 2021 and 2022 were Vietnam ($1.2M), Japan ($149k), and Italy ($57.9k).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Other Cutlery exports accounted up to $1.69M and imports accounted up to $2.15M, resulting in a negative trade balance of $461k. Between July 2023 and July 2024 the exports of South Korea's   Other Cutlery have decreased by $-132k (-7.26%) from $1.82M to $1.69M, while imports increased by $348k (19.4%) from $1.8M to $2.15M.

Destinations In July 2024, Other Cutlery were exported mostly to China ($393k), United States ($316k), Germany ($294k), Canada ($117k), and Japan ($99k), and were imported mostly from China ($1.53M), Japan ($256k), Vietnam ($218k), Pakistan ($41k), and Germany ($37k).

Growth In July 2024, the decrease in Other Cutlery's year-by-year exports was explained primarily by a decrease in exports to Hong Kong ($-175k or -87.9%), France ($-58k or -77.3%), and Singapore ($-57k or -75%). In July 2024, the increase in Other Cutlery's year-by-year imports was explained primarily by an increase in imports from Pakistan ($47k or 235%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-132k(-7.26%)
IMPORT GROWTH (July 2023 - July 2024)$348k(19.4%)
MAIN DESTINATION (July 2024)China$393k

This section shows Other Cutlery'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 Other Cutlery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$23.3M
IMPORTS (2022)$35.4M
NET TRADE (2022)-$12.1M

In 2022, South Korea exported $23.3M in Other Cutlery. The main destinations of South Korea exports on Other Cutlery were United States ($2.82M), Hong Kong ($2.43M), Japan ($1.44M), Italy ($1.41M), and Thailand ($1.35M).

In 2022, South Korea imported $35.4M in Other Cutlery, mainly from China ($22.3M), Vietnam ($8.41M), Japan ($2.06M), Germany ($1.21M), and Pakistan ($397k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Other Cutlery EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Italy$400k (39.4%)
Saudi Arabia$353k (90.9%)
Iraq$226k (708%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Other Cutlery BY South Korea WERE (2021 - 2022):
United States-$1.45M (-34%)
Hong Kong-$808k (-25%)
Japan-$411k (-22.2%)
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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 Other Cutlery were:
China $940M
Germany $76.4M
United States $30.7M
In 2022, South Korea's main importing competitors in Other Cutlery were:
United States $230M
Germany $70.6M
Malaysia $53.9M

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Trade Value of Other Cutlery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $520k
TOP IMPORT POTENTIALChina+ $3.5M

Other Cutlery’s highest export potential is China. With an export gap of $520k.   Other Cutlery’s highest import potential is China with an import gap of $3.5M.

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