Pure Olive Oil in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $1.11M in Pure Olive Oil, making it the 53rd largest exporter of Pure Olive Oil in the world. At the same year, Pure Olive Oil was the 975th most exported product in South Korea. The main destination of Pure Olive Oil exports from South Korea are: China ($334k), Philippines ($317k), United States ($111k), Indonesia ($78.9k), and Mongolia ($75.2k).

The fastest growing export markets for Pure Olive Oil of South Korea between 2021 and 2022 were Philippines ($254k), China ($72k), and Indonesia ($47.6k).

Imports In 2022, South Korea imported $135M in Pure Olive Oil, becoming the 14th largest importer of Pure Olive Oil in the world. At the same year, Pure Olive Oil was the 448th most imported product in South Korea. South Korea imports Pure Olive Oil primarily from: Spain ($94.2M), Italy ($30.4M), Turkey ($2.75M), France ($2.58M), and Greece ($2.27M).

The fastest growing import markets in Pure Olive Oil for South Korea between 2021 and 2022 were Spain ($21.7M), Italy ($2.59M), and France ($1.33M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (890) and POLYPLEX USA LLC (8) were at the forefront of shipping Pure Olive Oil from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Pure Olive Oil exports accounted up to $83k and imports accounted up to $6.27M, resulting in a negative trade balance of $6.19M. Between February 2023 and February 2024 the exports of South Korea's Pure Olive Oil have decreased by $-43k (-34.1%) from $126k to $83k, while imports decreased by $-2.82M (-31%) from $9.1M to $6.27M.

Destinations In February 2024, Pure Olive Oil were exported mostly to Philippines ($42k), Mongolia ($13k), United States ($12k), Indonesia ($4k), and Kazakhstan ($4k), and were imported mostly from Spain ($3.04M), Italy ($2.38M), Greece ($397k), France ($145k), and Turkey ($97k).

Growth In February 2024, the decrease in Pure Olive Oil's year-by-year exports was explained primarily by a decrease in exports to Australia ($-8k or -80%), China ($-7k or -46.7%), and Vietnam ($-2k or -40%). In February 2024, the decrease in Pure Olive Oil's year-by-year imports was explained primarily by a decrease in imports from Spain ($-3.79M or -38.6%), Italy ($-1.6M or -39.3%), and Turkey ($-219k or -94.8%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-43k(-34.1%)

IMPORT GROWTH (February 2023 - February 2024)$-2.82M(-31%)

MAIN DESTINATION (February 2024)Philippines$42k

This section shows Pure Olive Oil'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 Pure Olive Oil over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$1.11M

IMPORTS (2022)$135M

NET TRADE (2022)-$134M

In 2022, South Korea exported $1.11M in Pure Olive Oil. The main destinations of South Korea exports on Pure Olive Oil were China ($334k), Philippines ($317k), United States ($111k), Indonesia ($78.9k), and Mongolia ($75.2k).

In 2022, South Korea imported $135M in Pure Olive Oil, mainly from Spain ($94.2M), Italy ($30.4M), Turkey ($2.75M), France ($2.58M), and Greece ($2.27M).

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