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2022
Exports $775MWorld Rnk 20 / 218
Flag Rnk 124 / 1204
2022
Destination $22.6M China
2021 - 2022
FASTEST GROWING MARKET $22.6MVietnam
2022
PRODUCT COMPLEXITY IN Other Edible Preparations0.054Rnk 531 / 1025
2022
Imports $1.73BWorld Rnk 7 / 226
Flag Rnk 57 / 1213
2022
Origin $54.5M United States
2021 - 2022
FASTEST GROWING ORIGIN $54.5MGermany
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $775M in Other Edible Preparations, making it the 20th largest exporter of Other Edible Preparations in the world. At the same year, Other Edible Preparations was the 124th most exported product in South Korea. The main destination of Other Edible Preparations exports from South Korea are: China ($154M), Japan ($122M), Vietnam ($92.2M), United States ($80.4M), and Indonesia ($64M).

The fastest growing export markets for Other Edible Preparations of South Korea between 2021 and 2022 were Vietnam ($22.6M), China ($15.7M), and United States ($11.1M).

Imports In 2022, South Korea imported $1.73B in Other Edible Preparations, becoming the 7th largest importer of Other Edible Preparations in the world. At the same year, Other Edible Preparations was the 57th most imported product in South Korea. South Korea imports Other Edible Preparations primarily from: United States ($780M), Germany ($178M), New Zealand ($129M), China ($102M), and Canada ($84.4M).

The fastest growing import markets in Other Edible Preparations for South Korea between 2021 and 2022 were Germany ($54.5M), New Zealand ($28.9M), and China ($22.3M).

COMPANIES In 2023, leading companies such as Nexen Tire (142), LG Electronics (101), and Samsung (13) were at the forefront of shipping Other Edible Preparations from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Other Edible Preparations exports accounted up to $68.3M and imports accounted up to $172M, resulting in a negative trade balance of $104M. Between September 2023 and September 2024 the exports of South Korea's   Other Edible Preparations have decreased by $-4.88M (-6.66%) from $73.2M to $68.3M, while imports decreased by $-23.5M (-12%) from $196M to $172M.

Destinations In September 2024, Other Edible Preparations were exported mostly to China ($17.4M), Japan ($8.74M), Vietnam ($7.91M), United States ($5.52M), and Indonesia ($3.33M), and were imported mostly from United States ($88.6M), Germany ($18.9M), China ($10.9M), Canada ($7.89M), and New Zealand ($5.84M).

Growth In September 2024, the decrease in Other Edible Preparations's year-by-year exports was explained primarily by a decrease in exports to Malaysia ($-1.64M or -49.7%), Indonesia ($-1.34M or -18.1%), and Philippines ($-647k or -43.9%). In September 2024, the decrease in Other Edible Preparations's year-by-year imports was explained primarily by a decrease in imports from Germany ($-6.2M or -33%), Australia ($-3.22M or -40.4%), and Malaysia ($-1.89M or -42.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-4.88M(-6.66%)
IMPORT GROWTH (September 2023 - September 2024)$-23.5M(-12%)
MAIN DESTINATION (September 2024)China$17.4M

This section shows Other Edible Preparations'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 Edible Preparations over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$775M
IMPORTS (2022)$1.73B
NET TRADE (2022)-$954M

In 2022, South Korea exported $775M in Other Edible Preparations. The main destinations of South Korea exports on Other Edible Preparations were China ($154M), Japan ($122M), Vietnam ($92.2M), United States ($80.4M), and Indonesia ($64M).

In 2022, South Korea imported $1.73B in Other Edible Preparations, mainly from United States ($780M), Germany ($178M), New Zealand ($129M), China ($102M), and Canada ($84.4M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Other Edible Preparations EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Vietnam$22.6M (32.4%)
China$15.7M (11.3%)
United States$11.1M (16.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Other Edible Preparations BY South Korea WERE (2021 - 2022):
Malaysia-$16M (-38.6%)
Japan-$12.7M (-9.45%)
Hong Kong-$9.96M (-23.1%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, South Korea's main exporting competitors in Other Edible Preparations were:
United States $7.48B
Singapore $6.77B
Germany $4.94B
In 2022, South Korea's main importing competitors in Other Edible Preparations were:
United States $8.4B
China $2.83B
Germany $2.64B

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Trade Value of Other Edible Preparations by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $48.2M
TOP IMPORT POTENTIALChina+ $66.2M

Other Edible Preparations’s highest export potential is China. With an export gap of $48.2M.   Other Edible Preparations’s highest import potential is China with an import gap of $66.2M.

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