Wine in South Korea | The Observatory of Economic Complexity

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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 2022, 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

September 2024

About

Overview In September 2024 South Korea's Wine exports accounted up to $35k and imports accounted up to $35.2M, resulting in a negative trade balance of $35.1M. Between September 2023 and September 2024 the exports of South Korea's Wine have increased by $25k (250%) from $10k to $35k, while imports decreased by $-3.11M (-8.13%) from $38.3M to $35.2M.

Destinations In September 2024, Wine were exported mostly to Singapore ($26k), China ($8k), Thailand ($1k), South Africa ($0), and Armenia ($0), and were imported mostly from France ($14.9M), United States ($5.05M), Italy ($3.91M), Chile ($3.26M), and Spain ($2.4M).

Growth In September 2024, the increase in Wine's year-by-year exports was explained primarily by an increase in exports to . In September 2024, the decrease in Wine's year-by-year imports was explained primarily by a decrease in imports from Chile ($-1.7M or -28.9%), Australia ($-746k or -24.1%), and Argentina ($-405k or -30.4%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (September 2023 - September 2024)$25k(250%)

IMPORT GROWTH (September 2023 - September 2024)$-3.11M(-8.13%)

MAIN DESTINATION (September 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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