Cocoa & cocoa preparations in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $70.4M in Cocoa & cocoa preparations, making it the 57th largest exporter of Cocoa & cocoa preparations in the world. At the same year, Cocoa & cocoa preparations was the 78th most exported product in South Korea. The main destination of Cocoa & cocoa preparations exports from South Korea are: Japan ($42M), China ($10.1M), Australia ($2.94M), Malaysia ($2.9M), and Vietnam ($2.25M).

The fastest growing export markets for Cocoa & cocoa preparations of South Korea between 2021 and 2022 were Japan ($6.64M), Vietnam ($493k), and Thailand ($466k).

Imports In 2022, South Korea imported $389M in Cocoa & cocoa preparations, becoming the 32nd largest importer of Cocoa & cocoa preparations in the world. At the same year, Cocoa & cocoa preparations was the 71st most imported product in South Korea. South Korea imports Cocoa & cocoa preparations primarily from: United States ($73.3M), Malaysia ($54.3M), Singapore ($41.5M), China ($35.4M), and Netherlands ($33.8M).

The fastest growing import markets in Cocoa & cocoa preparations for South Korea between 2021 and 2022 were Malaysia ($13.3M), China ($5.77M), and Singapore ($4.18M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS USA (73), BARRY CALLEBAUT USA, LLC (2), and WALONG MARKETING INC. (1) were at the forefront of shipping Cocoa & cocoa preparations from South Korea to the United States.

Latest Trends

March 2024

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Overview In March 2024 South Korea's Cocoa & cocoa preparations exports accounted up to $5.95M and imports accounted up to $34.8M, resulting in a negative trade balance of $28.9M. Between March 2023 and March 2024 the exports of South Korea's Cocoa & cocoa preparations have increased by $133k (2.29%) from $5.82M to $5.95M, while imports decreased by $-4.19M (-10.7%) from $39M to $34.8M.

Destinations In March 2024, Cocoa & cocoa preparations were exported mostly to Japan ($2.8M), China ($818k), Oman ($806k), Australia ($249k), and Vietnam ($210k), and were imported mostly from United States ($9.11M), Singapore ($3.38M), China ($2.55M), Malaysia ($2.48M), and Belgium ($2.47M).

Growth In March 2024, the increase in Cocoa & cocoa preparations's year-by-year exports was explained primarily by an increase in exports to Chinese Taipei ($356k or 1.02k%), Russia ($198k or 566%), and United Arab Emirates ($137k or 13.7k%). In March 2024, the decrease in Cocoa & cocoa preparations's year-by-year imports was explained primarily by a decrease in imports from United States ($-2.68M or -25.1%), Italy ($-2.24M or -35.5%), and Belgium ($-632k or -18.3%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$133k(2.29%)

IMPORT GROWTH (March 2023 - March 2024)$-4.19M(-10.7%)

MAIN DESTINATION (March 2024)Japan$2.8M

This section shows Cocoa & cocoa preparations'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 Cocoa & cocoa preparations over time.

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