Preparations of cereals, flour, starch or milk in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $1.74B in Preparations of cereals, flour, starch or milk, making it the 17th largest exporter of Preparations of cereals, flour, starch or milk in the world. At the same year, Preparations of cereals, flour, starch or milk was the 28th most exported product in South Korea. The main destination of Preparations of cereals, flour, starch or milk exports from South Korea are: United States ($372M), China ($335M), Japan ($165M), Australia ($67.7M), and Chinese Taipei ($65.6M).

The fastest growing export markets for Preparations of cereals, flour, starch or milk of South Korea between 2021 and 2022 were United States ($27.3M), China ($19.3M), and Netherlands ($12.8M).

Imports In 2022, South Korea imported $921M in Preparations of cereals, flour, starch or milk, becoming the 23rd largest importer of Preparations of cereals, flour, starch or milk in the world. At the same year, Preparations of cereals, flour, starch or milk was the 61st most imported product in South Korea. South Korea imports Preparations of cereals, flour, starch or milk primarily from: China ($267M), United States ($89.4M), Italy ($65.2M), Malaysia ($63.7M), and Vietnam ($61.1M).

The fastest growing import markets in Preparations of cereals, flour, starch or milk for South Korea between 2021 and 2022 were Vietnam ($17.3M), China ($9.76M), and Malaysia ($9.43M).

COMPANIES In 2023, leading companies such as CJ Foods (305), Wismettac Asian Foods (26), and Walong Marketing (18) were at the forefront of shipping Preparations of cereals, flour, starch or milk from South Korea to the United States.

Latest Trends

October 2024

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Overview In October 2024 South Korea's Preparations of cereals, flour, starch or milk exports accounted up to $225M and imports accounted up to $100M, resulting in a positive trade balance of $125M. Between October 2023 and October 2024 the exports of South Korea's Preparations of cereals, flour, starch or milk have increased by $47.2M (26.5%) from $178M to $225M, while imports increased by $6.76M (7.24%) from $93.3M to $100M.

Destinations In October 2024, Preparations of cereals, flour, starch or milk were exported mostly to United States ($59.8M), China ($39.3M), Japan ($12.6M), Netherlands ($9.44M), and Canada ($8.62M), and were imported mostly from China ($22.6M), Vietnam ($8.5M), Malaysia ($7.96M), United States ($7.36M), and Germany ($6.98M).

Growth In October 2024, the increase in Preparations of cereals, flour, starch or milk's year-by-year exports was explained primarily by an increase in exports to China ($6.35M or 30.2%), Netherlands ($3.22M or 160%), and Philippines ($724k or 17.1%). In October 2024, the increase in Preparations of cereals, flour, starch or milk's year-by-year imports was explained primarily by an increase in imports from Netherlands ($1.54M or 175%), Thailand ($1.1M or 47%), and Vietnam ($790k or 15.3%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (October 2023 - October 2024)$47.2M(26.5%)

IMPORT GROWTH (October 2023 - October 2024)$6.76M(7.24%)

MAIN DESTINATION (October 2024)United States$59.8M

This section shows Preparations of cereals, flour, starch or milk'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 Preparations of cereals, flour, starch or milk over time.

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