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2022
Exports $1.47MWorld Rnk 52 / 194
Flag Rnk 955 / 1204
2022
Destination $123k Vietnam
2021 - 2022
FASTEST GROWING MARKET $123kSwitzerland
2022
PRODUCT COMPLEXITY IN Wood Ornaments-0.4Rnk 674 / 1025
2022
Imports $29.9MWorld Rnk 16 / 217
Flag Rnk 769 / 1213
2022
Origin $4.02M China
2021 - 2022
FASTEST GROWING ORIGIN $4.02MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $1.47M in Wood Ornaments, making it the 52nd largest exporter of Wood Ornaments in the world. At the same year, Wood Ornaments was the 955th most exported product in South Korea. The main destination of Wood Ornaments exports from South Korea are: Vietnam ($641k), United States ($240k), Switzerland ($143k), Chinese Taipei ($114k), and China ($103k).

The fastest growing export markets for Wood Ornaments of South Korea between 2021 and 2022 were Switzerland ($123k), Chinese Taipei ($95.9k), and Lebanon ($15.7k).

Imports In 2022, South Korea imported $29.9M in Wood Ornaments, becoming the 16th largest importer of Wood Ornaments in the world. At the same year, Wood Ornaments was the 769th most imported product in South Korea. South Korea imports Wood Ornaments primarily from: China ($20.7M), Vietnam ($3.53M), Indonesia ($1.64M), France ($720k), and Italy ($539k).

The fastest growing import markets in Wood Ornaments for South Korea between 2021 and 2022 were China ($4.02M), Denmark ($380k), and France ($286k).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Wood Ornaments exports accounted up to $189k and imports accounted up to $1.93M, resulting in a negative trade balance of $1.74M. Between July 2023 and July 2024 the exports of South Korea's   Wood Ornaments have increased by $73k (62.9%) from $116k to $189k, while imports increased by $25k (1.31%) from $1.91M to $1.93M.

Destinations In July 2024, Wood Ornaments were exported mostly to Hong Kong ($91k), United States ($43k), Vietnam ($33k), Japan ($15k), and France ($6k), and were imported mostly from China ($1.14M), Vietnam ($381k), Italy ($110k), Indonesia ($70k), and France ($52k).

Growth In July 2024, the increase in Wood Ornaments's year-by-year exports was explained primarily by an increase in exports to China ($62k or 1.24k%). In July 2024, the increase in Wood Ornaments's year-by-year imports was explained primarily by an increase in imports from Italy ($101k or 206%), Chinese Taipei ($34k or 3.4k%), and Japan ($32k or 640%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$73k(62.9%)
IMPORT GROWTH (July 2023 - July 2024)$25k(1.31%)
MAIN DESTINATION (July 2024)Hong Kong$91k

This section shows Wood Ornaments'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 Wood Ornaments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.47M
IMPORTS (2022)$29.9M
NET TRADE (2022)-$28.4M

In 2022, South Korea exported $1.47M in Wood Ornaments. The main destinations of South Korea exports on Wood Ornaments were Vietnam ($641k), United States ($240k), Switzerland ($143k), Chinese Taipei ($114k), and China ($103k).

In 2022, South Korea imported $29.9M in Wood Ornaments, mainly from China ($20.7M), Vietnam ($3.53M), Indonesia ($1.64M), France ($720k), and Italy ($539k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Wood Ornaments EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Switzerland$123k (605%)
Chinese Taipei$95.9k (532%)
Lebanon$15.7k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Wood Ornaments BY South Korea WERE (2021 - 2022):
United States-$232k (-49.1%)
Japan-$89.9k (-62.8%)
Hong Kong-$61.5k (-58.7%)
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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 Wood Ornaments were:
China $1.65B
Germany $83.5M
Indonesia $77.4M
In 2022, South Korea's main importing competitors in Wood Ornaments were:
United States $984M
Germany $226M
France $134M

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Trade Value of Wood Ornaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $287k
TOP IMPORT POTENTIALChina+ $6.22M

Wood Ornaments’s highest export potential is United States. With an export gap of $287k.   Wood Ornaments’s highest import potential is China with an import gap of $6.22M.

See methodology.

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