Sugars & confectioneries in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $344M in Sugars & confectioneries, making it the 33rd largest exporter of Sugars & confectioneries in the world. At the same year, Sugars & confectioneries was the 60th most exported product in South Korea. The main destination of Sugars & confectioneries exports from South Korea are: China ($118M), Japan ($83.3M), Hong Kong ($45.6M), Vietnam ($24.3M), and Philippines ($14.8M).

The fastest growing export markets for Sugars & confectioneries of South Korea between 2021 and 2022 were China ($9.2M), Japan ($7.46M), and Philippines ($2.51M).

Imports In 2022, South Korea imported $1.31B in Sugars & confectioneries, becoming the 9th largest importer of Sugars & confectioneries in the world. At the same year, Sugars & confectioneries was the 50th most imported product in South Korea. South Korea imports Sugars & confectioneries primarily from: Australia ($428M), Thailand ($356M), China ($134M), Nicaragua ($49.6M), and Germany ($48.7M).

The fastest growing import markets in Sugars & confectioneries for South Korea between 2021 and 2022 were Thailand ($221M), Nicaragua ($28.3M), and China ($21.8M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS USA (102), GENERAL MOTORS LLC (17), and VOLVO GROUP NORTH AMERICA LLC (4) were at the forefront of shipping Sugars & confectioneries from South Korea to the United States.

Latest Trends

March 2024

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Overview In March 2024 South Korea's Sugars & confectioneries exports accounted up to $21.3M and imports accounted up to $107M, resulting in a negative trade balance of $85.7M. Between March 2023 and March 2024 the exports of South Korea's Sugars & confectioneries have decreased by $-3.54M (-14.3%) from $24.8M to $21.3M, while imports decreased by $-30M (-21.9%) from $137M to $107M.

Destinations In March 2024, Sugars & confectioneries were exported mostly to Japan ($5.31M), Hong Kong ($4.49M), China ($3.31M), Vietnam ($2.02M), and United States ($1.11M), and were imported mostly from Thailand ($39.8M), China ($20.3M), Australia ($18.2M), United States ($3.72M), and Germany ($3.69M).

Growth In March 2024, the decrease in Sugars & confectioneries's year-by-year exports was explained primarily by a decrease in exports to Japan ($-1.69M or -21.3%), Vietnam ($-1.25M or -55.6%), and Hong Kong ($-375k or -8.32%). In March 2024, the decrease in Sugars & confectioneries's year-by-year imports was explained primarily by a decrease in imports from Australia ($-21.7M or -34.3%), China ($-4.53M or -29.4%), and Indonesia ($-3.1M or -51.1%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-3.54M(-14.3%)

IMPORT GROWTH (March 2023 - March 2024)$-30M(-21.9%)

MAIN DESTINATION (March 2024)Japan$5.31M

This section shows Sugars & confectioneries'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 Sugars & confectioneries over time.

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