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2023
Exports $161kWorld Rnk 43 / 122
Flag Rnk 1057 / 1188
2023
Destination $144k Madagascar
2022 - 2023
FASTEST GROWING MARKET $144kMadagascar
2023
PRODUCT COMPLEXITY IN Vanilla-2.02Rnk 1000 / 1025
2023
Imports $1.86MWorld Rnk 24 / 190
Flag Rnk 1080 / 1208
2023
Origin $367k Madagascar
2022 - 2023
FASTEST GROWING ORIGIN $367kUnited States
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $161k in Vanilla, making it the 43rd largest exporter of Vanilla in the world. At the same year, Vanilla was the 1057th most exported product in South Korea. The main destination of Vanilla exports from South Korea are: Madagascar ($144k), Switzerland ($10.7k), Hungary ($6.11k), United Arab Emirates ($686), and Slovenia ($187).

The fastest growing export markets for Vanilla of South Korea between 2022 and 2023 were Madagascar ($144k), Switzerland ($10.7k), and Hungary ($6.11k).

Imports In 2023, South Korea imported $1.86M in Vanilla, becoming the 24th largest importer of Vanilla in the world. At the same year, Vanilla was the 1080th most imported product in South Korea. South Korea imports Vanilla primarily from: Madagascar ($897k), United States ($391k), Indonesia ($221k), France ($187k), and Mauritius ($136k).

The fastest growing import markets in Vanilla for South Korea between 2022 and 2023 were United States ($367k), France ($62.1k), and Italy ($1.56k).

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Vanilla exports accounted up to $1k and imports accounted up to $204k, resulting in a negative trade balance of $203k. Between December 2023 and December 2024 the exports of South Korea's   Vanilla have remained the same by $0 (0%) from $1k to $1k, while imports decreased by $-31k (-13.2%) from $235k to $204k.

Destinations In December 2024, Vanilla were exported mostly to Singapore ($1k), Madagascar ($0), Hong Kong ($0), Indonesia ($0), and Mexico ($0), and were imported mostly from Madagascar ($154k), Indonesia ($31k), Mexico ($7k), Papua New Guinea ($5k), and Singapore ($4k).

Growth In December 2024, the change in Vanilla's year-by-year exports was explained primarily by a decrease in exports to . In December 2024, the decrease in Vanilla's year-by-year imports was explained primarily by a decrease in imports from Madagascar ($-230k or -85.5%) and Indonesia ($-15k or -45.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
IMPORT GROWTH (December 2023 - December 2024)$-31k(-13.2%)
MAIN DESTINATION (December 2024)Singapore$1k

This section shows Vanilla'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 Vanilla over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$161k
IMPORTS (2023)$1.86M
NET TRADE (2023)-$1.7M

In 2023, South Korea exported $161k in Vanilla. The main destinations of South Korea exports on Vanilla were Madagascar ($144k), Switzerland ($10.7k), Hungary ($6.11k), United Arab Emirates ($686), and Slovenia ($187).

In 2023, South Korea imported $1.86M in Vanilla, mainly from Madagascar ($897k), United States ($391k), Indonesia ($221k), France ($187k), and Mauritius ($136k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Vanilla EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Madagascar$144k (1%)
Switzerland$10.7k (1%)
Hungary$6.11k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Vanilla BY South Korea WERE (2022 - 2023):
Mongolia-$24.4k (-100%)
United Kingdom-$7.21k (-100%)
Singapore-$1.81k (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Vanilla were:
Madagascar $389M
Uganda $33.1M
France $29.2M
In 2023, South Korea's main importing competitors in Vanilla were:
United States $217M
France $130M
Germany $49.4M

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Trade Value of Vanilla by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited Kingdom+ $4.14k
TOP IMPORT POTENTIALMadagascar+ $638k

Vanilla’s highest export potential is United Kingdom. With an export gap of $4.14k.   Vanilla’s highest import potential is Madagascar with an import gap of $638k.

See methodology.

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