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2022
Exports $154MWorld Rnk 24 / 171
Flag Rnk 319 / 1204
2022
Destination $10.3M China
2021 - 2022
FASTEST GROWING MARKET $10.3MChina
2022
PRODUCT COMPLEXITY IN Raw Sugar-1.78Rnk 979 / 1025
2022
Imports $865MWorld Rnk 7 / 224
Flag Rnk 124 / 1213
2022
Origin $217M Australia
2021 - 2022
FASTEST GROWING ORIGIN $217MThailand
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $154M in Raw Sugar, making it the 24th largest exporter of Raw Sugar in the world. At the same year, Raw Sugar was the 319th most exported product in South Korea. The main destination of Raw Sugar exports from South Korea are: China ($95.7M), Hong Kong ($44.2M), Indonesia ($3.45M), Japan ($1.99M), and Mongolia ($1.47M).

The fastest growing export markets for Raw Sugar of South Korea between 2021 and 2022 were China ($10.3M), Mongolia ($833k), and United States ($565k).

Imports In 2022, South Korea imported $865M in Raw Sugar, becoming the 7th largest importer of Raw Sugar in the world. At the same year, Raw Sugar was the 124th most imported product in South Korea. South Korea imports Raw Sugar primarily from: Australia ($403M), Thailand ($345M), Nicaragua ($49.6M), El Salvador ($20.1M), and Costa Rica ($15.2M).

The fastest growing import markets in Raw Sugar for South Korea between 2021 and 2022 were Thailand ($217M), Nicaragua ($28.3M), and Honduras ($11.1M).

COMPANIES In 2023, leading companies such as LG Electronics (3) were at the forefront of shipping Raw Sugar from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Raw Sugar exports accounted up to $17.7M and imports accounted up to $56.8M, resulting in a negative trade balance of $39.1M. Between July 2023 and July 2024 the exports of South Korea's   Raw Sugar have increased by $3.5M (24.6%) from $14.2M to $17.7M, while imports decreased by $-48M (-45.8%) from $105M to $56.8M.

Destinations In July 2024, Raw Sugar were exported mostly to China ($10.3M), Hong Kong ($3.99M), Thailand ($1.16M), Malaysia ($864k), and Indonesia ($639k), and were imported mostly from Thailand ($55.4M), United States ($282k), Germany ($206k), Malaysia ($204k), and Brazil ($186k).

Growth In July 2024, the increase in Raw Sugar's year-by-year exports was explained primarily by an increase in exports to China ($3.09M or 29.6%), Japan ($115k or 66.1%), and Russia ($55k or 5.5k%). In July 2024, the decrease in Raw Sugar's year-by-year imports was explained primarily by a decrease in imports from Australia ($-24.6M or -39.6%), Germany ($-294k or -85.2%), and Brazil ($-226k or -50.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$3.5M(24.6%)
IMPORT GROWTH (July 2023 - July 2024)$-48M(-45.8%)
MAIN DESTINATION (July 2024)China$10.3M

This section shows Raw Sugar'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 Raw Sugar over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$154M
IMPORTS (2022)$865M
NET TRADE (2022)-$711M

In 2022, South Korea exported $154M in Raw Sugar. The main destinations of South Korea exports on Raw Sugar were China ($95.7M), Hong Kong ($44.2M), Indonesia ($3.45M), Japan ($1.99M), and Mongolia ($1.47M).

In 2022, South Korea imported $865M in Raw Sugar, mainly from Australia ($403M), Thailand ($345M), Nicaragua ($49.6M), El Salvador ($20.1M), and Costa Rica ($15.2M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Raw Sugar EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
China$10.3M (12.1%)
Mongolia$833k (132%)
United States$565k (73%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Raw Sugar BY South Korea WERE (2021 - 2022):
Singapore-$3.72M (-86.8%)
Japan-$3.17M (-61.4%)
Bangladesh-$319k (-33.8%)
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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 Raw Sugar were:
Brazil $11.5B
India $6.03B
Thailand $3.22B
In 2022, South Korea's main importing competitors in Raw Sugar were:
Indonesia $2.37B
China $2.25B
United States $1.94B

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Trade Value of Raw Sugar by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $10.2M
TOP IMPORT POTENTIALBrazil+ $11M

Raw Sugar’s highest export potential is China. With an export gap of $10.2M.   Raw Sugar’s highest import potential is Brazil with an import gap of $11M.

See methodology.

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