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2023
Exports $11.6MWorld Rnk 51 / 190
Flag Rnk 674 / 1188
2023
Destination $150k United States
2022 - 2023
FASTEST GROWING MARKET $150kAustralia
2023
PRODUCT COMPLEXITY IN Packing Bags-1.73Rnk 976 / 1025
2023
Imports $103MWorld Rnk 13 / 222
Flag Rnk 472 / 1208
2023
Origin $818k China
2022 - 2023
FASTEST GROWING ORIGIN $818kSingapore
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $11.6M in Packing Bags, making it the 51st largest exporter of Packing Bags in the world. At the same year, Packing Bags was the 674th most exported product in South Korea. The main destination of Packing Bags exports from South Korea are: United States ($7.14M), Mauritius ($1.12M), Norway ($640k), Indonesia ($453k), and Czechia ($441k).

The fastest growing export markets for Packing Bags of South Korea between 2022 and 2023 were Australia ($150k), Norway ($128k), and United Kingdom ($102k).

Imports In 2023, South Korea imported $103M in Packing Bags, becoming the 13th largest importer of Packing Bags in the world. At the same year, Packing Bags was the 472nd most imported product in South Korea. South Korea imports Packing Bags primarily from: China ($96.3M), India ($1.49M), France ($1.2M), Singapore ($878k), and United States ($550k).

The fastest growing import markets in Packing Bags for South Korea between 2022 and 2023 were Singapore ($818k), France ($652k), and Hong Kong ($186k).

COMPANIES In 2024, leading companies such as Samsung (48), General Motors (2), and LG Electronics (1) were at the forefront of shipping Packing Bags from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Packing Bags exports accounted up to $1.21M and imports accounted up to $30.5M, resulting in a negative trade balance of $29.3M. Between December 2023 and December 2024 the exports of South Korea's   Packing Bags have decreased by $-489k (-28.7%) from $1.7M to $1.21M, while imports increased by $2.02M (7.09%) from $28.5M to $30.5M.

Destinations In December 2024, Packing Bags were exported mostly to United States ($684k), Russia ($124k), Vietnam ($107k), Mauritius ($83k), and China ($48k), and were imported mostly from Vietnam ($19.4M), China ($10.6M), Belgium ($123k), Thailand ($109k), and India ($70k).

Growth In December 2024, the decrease in Packing Bags's year-by-year exports was explained primarily by a decrease in exports to China ($-59k or -60.8%), Italy ($-35k or -100%), and India ($-3k or -75%). In December 2024, the increase in Packing Bags's year-by-year imports was explained primarily by an increase in imports from China ($2.28M or 31.7%), Italy ($229k or 1.27k%), and United States ($93k or 60.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-489k(-28.7%)
IMPORT GROWTH (December 2023 - December 2024)$2.02M(7.09%)
MAIN DESTINATION (December 2024)United States$684k

This section shows Packing Bags'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 Packing Bags over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$11.6M
IMPORTS (2023)$103M
NET TRADE (2023)-$91.4M

In 2023, South Korea exported $11.6M in Packing Bags. The main destinations of South Korea exports on Packing Bags were United States ($7.14M), Mauritius ($1.12M), Norway ($640k), Indonesia ($453k), and Czechia ($441k).

In 2023, South Korea imported $103M in Packing Bags, mainly from China ($96.3M), India ($1.49M), France ($1.2M), Singapore ($878k), and United States ($550k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Packing Bags EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Australia$150k (435%)
Norway$128k (24.9%)
United Kingdom$102k (25.5k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packing Bags BY South Korea WERE (2022 - 2023):
United States-$2.92M (-29%)
Russia-$2.09M (-100%)
Vietnam-$1.86M (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Packing Bags were:
China $1.42B
India $1.14B
Vietnam $331M
In 2023, South Korea's main importing competitors in Packing Bags were:
United States $658M
Japan $393M
France $253M

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Trade Value of Packing Bags by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $920k
TOP IMPORT POTENTIALChina+ $15.8M

Packing Bags’s highest export potential is United States. With an export gap of $920k.   Packing Bags’s highest import potential is China with an import gap of $15.8M.

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