Cereals in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $36.5M in Cereals, making it the 67th largest exporter of Cereals in the world. At the same year, Cereals was the 87th most exported product in South Korea. The main destination of Cereals exports from South Korea are: Kenya ($10.8M), Ethiopia ($8.79M), United States ($4.23M), Yemen ($3.55M), and Vietnam ($1.24M).

The fastest growing export markets for Cereals of South Korea between 2021 and 2022 were Kenya ($8.51M), Ethiopia ($4.11M), and United States ($2.25M).

Imports In 2022, South Korea imported $5.27B in Cereals, becoming the 6th largest importer of Cereals in the world. At the same year, Cereals was the 20th most imported product in South Korea. South Korea imports Cereals primarily from: Argentina ($1.31B), United States ($1.19B), Australia ($757M), Brazil ($647M), and India ($224M).

The fastest growing import markets in Cereals for South Korea between 2021 and 2022 were Brazil ($397M), Australia ($381M), and India ($199M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (12.5k), COSTCO WHOLESALE COPRORATION (290), and AMAZON SERVICES LLC (232) were at the forefront of shipping Cereals from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Cereals exports accounted up to $1.13M and imports accounted up to $383M, resulting in a negative trade balance of $382M. Between February 2023 and February 2024 the exports of South Korea's Cereals have decreased by $-512k (-31.3%) from $1.64M to $1.13M, while imports decreased by $-65.2M (-14.6%) from $448M to $383M.

Destinations In February 2024, Cereals were exported mostly to United States ($749k), Australia ($101k), Germany ($56k), United Arab Emirates ($47k), and Netherlands ($44k), and were imported mostly from Brazil ($96.9M), United States ($61.2M), Ukraine ($45.9M), Romania ($41.5M), and Australia ($25.1M).

Growth In February 2024, the decrease in Cereals's year-by-year exports was explained primarily by a decrease in exports to Australia ($-112k or -65.1%), Singapore ($-39k or -78%), and Germany ($-32k or -72.7%). In February 2024, the decrease in Cereals's year-by-year imports was explained primarily by a decrease in imports from Argentina ($-55.3M or -33.8%), China ($-13.1M or -89.2%), and Vietnam ($-12.1M or -100%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-512k(-31.3%)

IMPORT GROWTH (February 2023 - February 2024)$-65.2M(-14.6%)

MAIN DESTINATION (February 2024)United States$749k

This section shows Cereals'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 Cereals over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$36.5M

IMPORTS (2022)$5.27B

NET TRADE (2022)-$5.24B

In 2022, South Korea exported $36.5M in Cereals. The main destinations of South Korea exports on Cereals were Kenya ($10.8M), Ethiopia ($8.79M), United States ($4.23M), Yemen ($3.55M), and Vietnam ($1.24M).

In 2022, South Korea imported $5.27B in Cereals, mainly from Argentina ($1.31B), United States ($1.19B), Australia ($757M), Brazil ($647M), and India ($224M).

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