Crustaceans in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $79.9M in Crustaceans, making it the 41st largest exporter of Crustaceans in the world. At the same year, Crustaceans was the 405th most exported product in South Korea. The main destination of Crustaceans exports from South Korea are: China ($42M), Vietnam ($10.4M), Indonesia ($10.1M), Japan ($7.34M), and Belgium ($1.98M).

The fastest growing export markets for Crustaceans of South Korea between 2021 and 2022 were China ($14.8M), Vietnam ($6.54M), and Indonesia ($5.52M).

Imports In 2022, South Korea imported $858M in Crustaceans, becoming the 7th largest importer of Crustaceans in the world. At the same year, Crustaceans was the 127th most imported product in South Korea. South Korea imports Crustaceans primarily from: Vietnam ($295M), Canada ($104M), China ($90.6M), Russia ($83.4M), and Ecuador ($63.6M).

The fastest growing import markets in Crustaceans for South Korea between 2021 and 2022 were Vietnam ($56.8M), Peru ($33.6M), and India ($16.2M).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (5.87k) and WALONG MARKETING INC. (21) were at the forefront of shipping Crustaceans from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Crustaceans exports accounted up to $11.5M and imports accounted up to $85.2M, resulting in a negative trade balance of $73.7M. Between February 2023 and February 2024 the exports of South Korea's Crustaceans have decreased by $-1.22M (-9.62%) from $12.7M to $11.5M, while imports decreased by $-12.1M (-12.4%) from $97.3M to $85.2M.

Destinations In February 2024, Crustaceans were exported mostly to Vietnam ($2.2M), Hong Kong ($1.99M), Chinese Taipei ($1.59M), China ($1.06M), and Japan ($837k), and were imported mostly from Russia ($38.8M), Vietnam ($12.2M), China ($8.39M), Peru ($5.77M), and Canada ($4.65M).

Growth In February 2024, the decrease in Crustaceans's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-939k or -37.2%), Singapore ($-535k or -49.7%), and Australia ($-11k or -73.3%). In February 2024, the decrease in Crustaceans's year-by-year imports was explained primarily by a decrease in imports from Russia ($-7.02M or -13.3%), Canada ($-5M or -48.3%), and Vietnam ($-3.34M or -16.8%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-1.22M(-9.62%)

IMPORT GROWTH (February 2023 - February 2024)$-12.1M(-12.4%)

MAIN DESTINATION (February 2024)Vietnam$2.2M

This section shows Crustaceans'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 Crustaceans over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$79.9M

IMPORTS (2022)$858M

NET TRADE (2022)-$779M

In 2022, South Korea exported $79.9M in Crustaceans. The main destinations of South Korea exports on Crustaceans were China ($42M), Vietnam ($10.4M), Indonesia ($10.1M), Japan ($7.34M), and Belgium ($1.98M).

In 2022, South Korea imported $858M in Crustaceans, mainly from Vietnam ($295M), Canada ($104M), China ($90.6M), Russia ($83.4M), and Ecuador ($63.6M).

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