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

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Exports In 2023, South Korea exported $1.78B 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 23rd most exported product in South Korea. The main destination of Preparations of cereals, flour, starch or milk exports from South Korea are: United States ($468M), China ($354M), Japan ($161M), Chinese Taipei ($73.2M), and Australia ($70.8M).

The fastest growing export markets for Preparations of cereals, flour, starch or milk of South Korea between 2022 and 2023 were United States ($56.6M), China ($22.7M), and Netherlands ($20M).

Imports In 2023, South Korea imported $797M in Preparations of cereals, flour, starch or milk, becoming the 28th 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 58th most imported product in South Korea. South Korea imports Preparations of cereals, flour, starch or milk primarily from: China ($211M), United States ($69.7M), Italy ($66.3M), Malaysia ($60.1M), and Germany ($50.8M).

The fastest growing import markets in Preparations of cereals, flour, starch or milk for South Korea between 2022 and 2023 were Indonesia ($6.94M), Ireland ($4.85M), and Italy ($4.13M).

COMPANIES In 2024, leading companies such as CJ Foods (364), Walong Marketing (14), and Wismettac Asian Foods (14) were at the forefront of shipping Preparations of cereals, flour, starch or milk from South Korea to the United States.

Latest Trends

December 2024

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Overview In December 2024 South Korea's Preparations of cereals, flour, starch or milk exports accounted up to $208M and imports accounted up to $94.8M, resulting in a positive trade balance of $113M. Between December 2023 and December 2024 the exports of South Korea's Preparations of cereals, flour, starch or milk have increased by $47.1M (29.3%) from $161M to $208M, while imports increased by $10.9M (13%) from $83.9M to $94.8M.

Destinations In December 2024, Preparations of cereals, flour, starch or milk were exported mostly to United States ($57.4M), China ($37.8M), Netherlands ($9.1M), Japan ($9.07M), and Chinese Taipei ($8.22M), and were imported mostly from China ($22M), Vietnam ($10.7M), Italy ($7.13M), United States ($6.09M), and Malaysia ($6.01M).

Growth In December 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 United States ($13.8M or 51%), Netherlands ($6.14M or 117%), and Australia ($2.64M or 65.2%). In December 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 China ($4.9M or 20.3%), Vietnam ($4.6M or 77.3%), and Germany ($1.19M or 23.9%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2023 - December 2024)$47.1M(29.3%)

IMPORT GROWTH (December 2023 - December 2024)$10.9M(13%)

MAIN DESTINATION (December 2024)United States$57.4M

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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