Wine in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $1.35M in Wine, making it the 71st largest exporter of Wine in the world. At the same year, Wine was the 961st most exported product in South Korea. The main destination of Wine exports from South Korea are: United States ($574k), Hong Kong ($196k), Indonesia ($113k), India ($100k), and Australia ($81.7k).

The fastest growing export markets for Wine of South Korea between 2021 and 2022 were United States ($144k), Indonesia ($113k), and Hong Kong ($72.5k).

Imports In 2018, South Korea imported $573M in Wine, becoming the 17th largest importer of Wine in the world. At the same year, Wine was the 173rd most imported product in South Korea. South Korea imports Wine primarily from: France ($214M), United States ($91.3M), Italy ($80.6M), Chile ($66.8M), and Spain ($33.8M).

The fastest growing import markets in Wine for South Korea between 2021 and 2022 were France ($27.4M), United States ($11.7M), and Singapore ($2.22M).

COMPANIES In 2023, leading companies such as LG Electronics (3) and General Motors (2) were at the forefront of shipping Wine from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Wine exports accounted up to $31k and imports accounted up to $44.3M, resulting in a negative trade balance of $44.3M. Between October 2023 and October 2024 the exports of South Korea's Wine have decreased by $-66k (-68%) from $97k to $31k, while imports increased by $7.58M (20.6%) from $36.7M to $44.3M.

Destinations In October 2024, Wine were exported mostly to Singapore ($26k), China ($5k), South Africa ($0), Cyprus ($0), and Georgia ($0), and were imported mostly from France ($15.9M), United States ($6.82M), Italy ($6.13M), Chile ($5.09M), and New Zealand ($2.65M).

Growth In October 2024, the decrease in Wine's year-by-year exports was explained primarily by a decrease in exports to United States ($-28k or -100%). In October 2024, the increase in Wine's year-by-year imports was explained primarily by an increase in imports from France ($3.14M or 22.8%), Germany ($502k or 167%), and Italy ($464k or 6.24%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (October 2023 - October 2024)$-66k(-68%)

IMPORT GROWTH (October 2023 - October 2024)$7.58M(20.6%)

MAIN DESTINATION (October 2024)Singapore$26k

This section shows Wine'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 Wine over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$1.35M

IMPORTS (2022)$573M

NET TRADE (2022)-$572M

In 2022, South Korea exported $1.35M in Wine. The main destinations of South Korea exports on Wine were United States ($574k), Hong Kong ($196k), Indonesia ($113k), India ($100k), and Australia ($81.7k).

In 2022, South Korea imported $573M in Wine, mainly from France ($214M), United States ($91.3M), Italy ($80.6M), Chile ($66.8M), and Spain ($33.8M).

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