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2022
Exports $38.8kWorld Rnk 63 / 121
Flag Rnk 1150 / 1204
2022
Destination $16.7k Mongolia
2021 - 2022
FASTEST GROWING MARKET $16.7kMongolia
2022
PRODUCT COMPLEXITY IN Vanilla-1.9Rnk 988 / 1025
2022
Imports $3.15MWorld Rnk 20 / 198
Flag Rnk 1066 / 1213
2022
Origin $318k Madagascar
2021 - 2022
FASTEST GROWING ORIGIN $318kIndonesia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $38.8k in Vanilla, making it the 63rd largest exporter of Vanilla in the world. At the same year, Vanilla was the 1150th most exported product in South Korea. The main destination of Vanilla exports from South Korea are: Mongolia ($24.4k), Singapore ($6.89k), United Kingdom ($6.69k), Slovenia ($300), and Italy ($280).

The fastest growing export markets for Vanilla of South Korea between 2021 and 2022 were Mongolia ($16.7k), United Kingdom ($6.69k), and Italy ($280).

Imports In 2022, South Korea imported $3.15M in Vanilla, becoming the 20th largest importer of Vanilla in the world. At the same year, Vanilla was the 1066th most imported product in South Korea. South Korea imports Vanilla primarily from: Madagascar ($1.89M), Indonesia ($520k), Papua New Guinea ($246k), Mauritius ($147k), and Australia ($122k).

The fastest growing import markets in Vanilla for South Korea between 2021 and 2022 were Indonesia ($318k), Mauritius ($147k), and Australia ($107k).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Vanilla exports accounted up to $1k and imports accounted up to $306k, resulting in a negative trade balance of $305k. Between October 2023 and October 2024 the exports of South Korea's   Vanilla have remained the same by $0 (0%) from $1k to $1k, while imports increased by $131k (74.9%) from $175k to $306k.

Destinations In October 2024, Vanilla were exported mostly to Singapore ($1k), Madagascar ($0), Uganda ($0), United Arab Emirates ($0), and Indonesia ($0), and were imported mostly from Madagascar ($248k), Indonesia ($27k), United States ($17k), Papua New Guinea ($7k), and Uganda ($5k).

Growth In October 2024, the change in Vanilla's year-by-year exports was explained primarily by a decrease in exports to . In October 2024, the increase in Vanilla's year-by-year imports was explained primarily by an increase in imports from Madagascar ($50k or 22.8%) and Papua New Guinea ($2k or 28.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
IMPORT GROWTH (October 2023 - October 2024)$131k(74.9%)
MAIN DESTINATION (October 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 (2022)$38.8k
IMPORTS (2022)$3.15M
NET TRADE (2022)-$3.11M

In 2022, South Korea exported $38.8k in Vanilla. The main destinations of South Korea exports on Vanilla were Mongolia ($24.4k), Singapore ($6.89k), United Kingdom ($6.69k), Slovenia ($300), and Italy ($280).

In 2022, South Korea imported $3.15M in Vanilla, mainly from Madagascar ($1.89M), Indonesia ($520k), Papua New Guinea ($246k), Mauritius ($147k), and Australia ($122k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Vanilla EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Mongolia$16.7k (217%)
United Kingdom$6.69k (1%)
Italy$280 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Vanilla BY South Korea WERE (2021 - 2022):
Madagascar-$4.62k (-100%)
Hong Kong-$4.02k (-100%)
Morocco-$3.07k (-100%)
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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 Vanilla were:
Madagascar $583M
France $60.3M
Uganda $44.5M
In 2022, South Korea's main importing competitors in Vanilla were:
United States $348M
France $203M
Germany $73.7M

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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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