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2022
Exports $18.1MWorld Rnk 45 / 192
Flag Rnk 659 / 1204
2022
Destination $858k United States
2021 - 2022
FASTEST GROWING MARKET $858kUnited States
2022
PRODUCT COMPLEXITY IN Packing Bags-1.76Rnk 978 / 1025
2022
Imports $339MWorld Rnk 4 / 223
Flag Rnk 250 / 1213
2022
Origin $16M Vietnam
2021 - 2022
FASTEST GROWING ORIGIN $16MVietnam
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $18.1M in Packing Bags, making it the 45th largest exporter of Packing Bags in the world. At the same year, Packing Bags was the 659th most exported product in South Korea. The main destination of Packing Bags exports from South Korea are: United States ($7.9M), Russia ($2.09M), Vietnam ($1.91M), Mauritius ($1.76M), and China ($1.03M).

The fastest growing export markets for Packing Bags of South Korea between 2021 and 2022 were United States ($858k), Russia ($832k), and United Arab Emirates ($478k).

Imports In 2022, South Korea imported $339M in Packing Bags, becoming the 4th largest importer of Packing Bags in the world. At the same year, Packing Bags was the 250th most imported product in South Korea. South Korea imports Packing Bags primarily from: Vietnam ($240M), China ($93M), India ($1.76M), Belgium ($1.07M), and United States ($569k).

The fastest growing import markets in Packing Bags for South Korea between 2021 and 2022 were Vietnam ($16M), Belgium ($332k), and United States ($268k).

COMPANIES In 2023, leading companies such as Samsung (83) were at the forefront of shipping Packing Bags from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Packing Bags exports accounted up to $1.06M and imports accounted up to $29.7M, resulting in a negative trade balance of $28.6M. Between October 2023 and October 2024 the exports of South Korea's   Packing Bags have decreased by $-567k (-34.8%) from $1.63M to $1.06M, while imports increased by $1.98M (7.13%) from $27.7M to $29.7M.

Destinations In October 2024, Packing Bags were exported mostly to Russia ($286k), United States ($269k), Mauritius ($203k), Vietnam ($104k), and China ($78k), and were imported mostly from Vietnam ($22.1M), China ($7.1M), Belgium ($216k), France ($71k), and Indonesia ($66k).

Growth In October 2024, the decrease in Packing Bags's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-119k or -52.4%), China ($-63k or -39.4%), and United States ($-62k or -8.41%). In October 2024, the increase in Packing Bags's year-by-year imports was explained primarily by an increase in imports from Vietnam ($1.54M or 8.23%), United States ($118k or 328%), and France ($40k or 364%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-567k(-34.8%)
IMPORT GROWTH (October 2023 - October 2024)$1.98M(7.13%)
MAIN DESTINATION (October 2024)Russia$286k

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 (2022)$18.1M
IMPORTS (2022)$339M
NET TRADE (2022)-$321M

In 2022, South Korea exported $18.1M in Packing Bags. The main destinations of South Korea exports on Packing Bags were United States ($7.9M), Russia ($2.09M), Vietnam ($1.91M), Mauritius ($1.76M), and China ($1.03M).

In 2022, South Korea imported $339M in Packing Bags, mainly from Vietnam ($240M), China ($93M), India ($1.76M), Belgium ($1.07M), and United States ($569k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Packing Bags EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$858k (12.2%)
Russia$832k (66%)
United Arab Emirates$478k (343%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packing Bags BY South Korea WERE (2021 - 2022):
Australia-$1M (-98.6%)
China-$491k (-32.3%)
Vietnam-$336k (-14.9%)
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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 Packing Bags were:
China $1.74B
India $1.39B
Vietnam $639M
In 2022, South Korea's main importing competitors in Packing Bags were:
United States $894M
Japan $472M
Germany $351M

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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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