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2022
Exports $3.08MWorld Rnk 46 / 154
Flag Rnk 882 / 1204
2022
Destination $39.7k United States
2021 - 2022
FASTEST GROWING MARKET $39.7kPhilippines
2022
PRODUCT COMPLEXITY IN Root Vegetables-0.71Rnk 758 / 1025
2022
Imports $89.3MWorld Rnk 7 / 212
Flag Rnk 536 / 1213
2022
Origin $7.14M China
2021 - 2022
FASTEST GROWING ORIGIN $7.14MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $3.08M in Root Vegetables, making it the 46th largest exporter of Root Vegetables in the world. At the same year, Root Vegetables was the 882nd most exported product in South Korea. The main destination of Root Vegetables exports from South Korea are: United States ($2.04M), Canada ($212k), Guam ($143k), Hong Kong ($103k), and Vietnam ($100k).

The fastest growing export markets for Root Vegetables of South Korea between 2021 and 2022 were Philippines ($39.7k), China ($14.7k), and Kazakhstan ($7.5k).

Imports In 2022, South Korea imported $89.3M in Root Vegetables, becoming the 7th largest importer of Root Vegetables in the world. At the same year, Root Vegetables was the 536th most imported product in South Korea. South Korea imports Root Vegetables primarily from: China ($84.6M), Vietnam ($3.99M), Japan ($516k), Netherlands ($39.3k), and Indonesia ($35.7k).

The fastest growing import markets in Root Vegetables for South Korea between 2021 and 2022 were China ($7.14M), Japan ($104k), and Vietnam ($52.9k).

COMPANIES In 2023, leading companies such as Wismettac Asian Foods (16) and Walong Marketing (1) were at the forefront of shipping Root Vegetables from South Korea to the United States.

Latest Trends

November 2024

About

Overview In November 2024 South Korea's Root Vegetables exports accounted up to $738k and imports accounted up to $10.2M, resulting in a negative trade balance of $9.45M. Between November 2023 and November 2024 the exports of South Korea's   Root Vegetables have decreased by $-136k (-15.6%) from $874k to $738k, while imports increased by $4.1M (67.5%) from $6.08M to $10.2M.

Destinations In November 2024, Root Vegetables were exported mostly to United States ($544k), Russia ($58k), Guam ($29k), Canada ($22k), and United Kingdom ($20k), and were imported mostly from China ($10.1M), Japan ($59k), Netherlands ($22k), Uzbekistan ($2k), and Vietnam ($1k).

Growth In November 2024, the decrease in Root Vegetables's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-15k or -100%), Netherlands ($-12k or -57.1%), and Hong Kong ($-10k or -71.4%). In November 2024, the increase in Root Vegetables's year-by-year imports was explained primarily by an increase in imports from Netherlands ($14k or 700%) and Austria ($1k or 100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$-136k(-15.6%)
IMPORT GROWTH (November 2023 - November 2024)$4.1M(67.5%)
MAIN DESTINATION (November 2024)United States$544k

This section shows Root Vegetables'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 Root Vegetables over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$3.08M
IMPORTS (2022)$89.3M
NET TRADE (2022)-$86.2M

In 2022, South Korea exported $3.08M in Root Vegetables. The main destinations of South Korea exports on Root Vegetables were United States ($2.04M), Canada ($212k), Guam ($143k), Hong Kong ($103k), and Vietnam ($100k).

In 2022, South Korea imported $89.3M in Root Vegetables, mainly from China ($84.6M), Vietnam ($3.99M), Japan ($516k), Netherlands ($39.3k), and Indonesia ($35.7k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Root Vegetables EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Philippines$39.7k (578%)
China$14.7k (1%)
Kazakhstan$7.5k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Root Vegetables BY South Korea WERE (2021 - 2022):
United States-$225k (-9.93%)
Russia-$73.6k (-62.1%)
Canada-$51.2k (-19.4%)
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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 Root Vegetables were:
China $455M
Netherlands $284M
United States $150M
In 2022, South Korea's main importing competitors in Root Vegetables were:
Germany $235M
United States $235M
Canada $150M

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Trade Value of Root Vegetables by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $148k
TOP IMPORT POTENTIALNetherlands+ $294k

Root Vegetables’s highest export potential is United States. With an export gap of $148k.   Root Vegetables’s highest import potential is Netherlands with an import gap of $294k.

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