2023
Exports
$19.8MWorld Rnk 26 / 113
Flag Rnk 606 / 1188
2023
PRODUCT COMPLEXITY IN Whey and other milk products
0.4Rnk 412 / 1025
2023
Imports
$178MWorld Rnk 6 / 203
Flag Rnk 347 / 1208
2023
ECONOMIC COMPLEXITY of South Korea
1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $19.8M in Whey and other milk products, making it the 26th largest exporter of Whey and other milk products in the world. At the same year, Whey and other milk products was the 606th most exported product in South Korea. The main destination of Whey and other milk products exports from South Korea are: Japan ($18.3M), Netherlands ($892k), Singapore ($498k), United States ($103k), and New Zealand ($17.7k).

The fastest growing export markets for Whey and other milk products of South Korea between 2022 and 2023 were Japan ($1.51M), Netherlands ($892k), and United States ($65.6k).

Imports In 2023, South Korea imported $178M in Whey and other milk products, becoming the 6th largest importer of Whey and other milk products in the world. At the same year, Whey and other milk products was the 347th most imported product in South Korea. South Korea imports Whey and other milk products primarily from: Netherlands ($123M), United States ($13.5M), New Zealand ($9.71M), Germany ($9.61M), and France ($3.99M).

The fastest growing import markets in Whey and other milk products for South Korea between 2022 and 2023 were New Zealand ($1.77M), Austria ($913k), and Malaysia ($643k).

COMPANIES In 2024, leading companies such as LG Electronics (1) were at the forefront of shipping Whey and other milk products from South Korea to the United States.

Latest Trends

December 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$446k(67.1%)
IMPORT GROWTH (December 2023 - December 2024)$-3.01M(-18.8%)
MAIN DESTINATION (December 2024)Japan$1.11M

This section shows Whey and other milk products'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 Whey and other milk products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$19.8M
IMPORTS (2023)$178M
NET TRADE (2023)-$158M

In 2023, South Korea exported $19.8M in Whey and other milk products. The main destinations of South Korea exports on Whey and other milk products were Japan ($18.3M), Netherlands ($892k), Singapore ($498k), United States ($103k), and New Zealand ($17.7k).

In 2023, South Korea imported $178M in Whey and other milk products, mainly from Netherlands ($123M), United States ($13.5M), New Zealand ($9.71M), Germany ($9.61M), and France ($3.99M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Whey and other milk products EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Japan$1.51M (9.01%)
Netherlands$892k (1%)
United States$65.6k (176%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Whey and other milk products BY South Korea WERE (2022 - 2023):
China-$638k (-100%)
Vietnam-$139k (-100%)
Singapore-$137k (-21.6%)

Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Whey and other milk products were:
In 2023, South Korea's main importing competitors in Whey and other milk products were:

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Trade Value of Whey and other milk products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $320k
TOP IMPORT POTENTIALGermany+ $3.88M

Whey and other milk products’s highest export potential is China. With an export gap of $320k.   Whey and other milk products’s highest import potential is Germany with an import gap of $3.88M.

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