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2022
Exports $31.1MWorld Rnk 36 / 167
Flag Rnk 571 / 1204
2022
Destination $2.7M Hong Kong
2021 - 2022
FASTEST GROWING MARKET $2.7MUnited States
2022
PRODUCT COMPLEXITY IN Wheat Flours-1.56Rnk 954 / 1025
2022
Imports $12.7MWorld Rnk 80 / 222
Flag Rnk 902 / 1213
2022
Origin $441k France
2021 - 2022
FASTEST GROWING ORIGIN $441kTurkey
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $31.1M in Wheat Flours, making it the 36th largest exporter of Wheat Flours in the world. At the same year, Wheat Flours was the 571st most exported product in South Korea. The main destination of Wheat Flours exports from South Korea are: Hong Kong ($9.14M), United States ($8.1M), Thailand ($3.52M), China ($2.94M), and Singapore ($1.99M).

The fastest growing export markets for Wheat Flours of South Korea between 2021 and 2022 were United States ($2.7M), Hong Kong ($1.62M), and Poland ($661k).

Imports In 2022, South Korea imported $12.7M in Wheat Flours, becoming the 80th largest importer of Wheat Flours in the world. At the same year, Wheat Flours was the 902nd most imported product in South Korea. South Korea imports Wheat Flours primarily from: France ($3.6M), United States ($1.42M), Canada ($1.39M), Turkey ($1.37M), and Italy ($1.22M).

The fastest growing import markets in Wheat Flours for South Korea between 2021 and 2022 were Turkey ($441k), Italy ($395k), and United States ($351k).

COMPANIES In 2023, leading companies such as Wismettac Asian Foods (15) were at the forefront of shipping Wheat Flours from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Wheat Flours exports accounted up to $1.73M and imports accounted up to $1.54M, resulting in a positive trade balance of $189k. Between July 2023 and July 2024 the exports of South Korea's   Wheat Flours have decreased by $-191k (-9.96%) from $1.92M to $1.73M, while imports increased by $487k (46.3%) from $1.05M to $1.54M.

Destinations In July 2024, Wheat Flours were exported mostly to United States ($594k), Hong Kong ($368k), China ($310k), Singapore ($115k), and Russia ($108k), and were imported mostly from Japan ($468k), France ($457k), United States ($168k), Italy ($151k), and Turkey ($87k).

Growth In July 2024, the decrease in Wheat Flours's year-by-year exports was explained primarily by a decrease in exports to Hong Kong ($-279k or -38.6%), Thailand ($-171k or -100%), and United States ($-96k or -17.3%). In July 2024, the increase in Wheat Flours's year-by-year imports was explained primarily by an increase in imports from Japan ($43k or 55.8%), Canada ($22k or 32.4%), and Vietnam ($11k or 42.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-191k(-9.96%)
IMPORT GROWTH (July 2023 - July 2024)$487k(46.3%)
MAIN DESTINATION (July 2024)United States$594k

This section shows Wheat Flours'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 Wheat Flours over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$31.1M
IMPORTS (2022)$12.7M
NET TRADE (2022)$18.4M

In 2022, South Korea exported $31.1M in Wheat Flours. The main destinations of South Korea exports on Wheat Flours were Hong Kong ($9.14M), United States ($8.1M), Thailand ($3.52M), China ($2.94M), and Singapore ($1.99M).

In 2022, South Korea imported $12.7M in Wheat Flours, mainly from France ($3.6M), United States ($1.42M), Canada ($1.39M), Turkey ($1.37M), and Italy ($1.22M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Wheat Flours EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$2.7M (50%)
Hong Kong$1.62M (21.6%)
Poland$661k (1.69k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Wheat Flours BY South Korea WERE (2021 - 2022):
Thailand-$270k (-7.13%)
Indonesia-$125k (-7.56%)
Northern Mariana Islands-$94.8k (-32%)
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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 Wheat Flours were:
Turkey $1.49B
Kazakhstan $752M
Germany $515M
In 2022, South Korea's main importing competitors in Wheat Flours were:
Afghanistan $843M
Iraq $614M
Netherlands $338M

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Trade Value of Wheat Flours by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $1.1M
TOP IMPORT POTENTIALTurkey+ $1.05M

Wheat Flours’s highest export potential is China. With an export gap of $1.1M.   Wheat Flours’s highest import potential is Turkey with an import gap of $1.05M.

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