Products of the milling industry in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $56.7M in Products of the milling industry, making it the 56th largest exporter of Products of the milling industry in the world. At the same year, Products of the milling industry was the 83rd most exported product in South Korea. The main destination of Products of the milling industry exports from South Korea are: United States ($10.3M), Hong Kong ($10.2M), Malaysia ($9.93M), Chinese Taipei ($5.74M), and Thailand ($3.53M).

The fastest growing export markets for Products of the milling industry of South Korea between 2021 and 2022 were United States ($2.67M), Hong Kong ($2.01M), and Chinese Taipei ($1.57M).

Imports In 2022, South Korea imported $327M in Products of the milling industry, becoming the 23rd largest importer of Products of the milling industry in the world. At the same year, Products of the milling industry was the 76th most imported product in South Korea. South Korea imports Products of the milling industry primarily from: China ($63.3M), Australia ($46.2M), Germany ($37.6M), Denmark ($20.9M), and Poland ($20.5M).

The fastest growing import markets in Products of the milling industry for South Korea between 2021 and 2022 were China ($17.1M), Australia ($16.9M), and Thailand ($11.5M).

COMPANIES In 2023, leading companies such as WISMETTAC ASIAN FOODS,INC. (31) and COSTCO WHOLESALE COPRORATION (12) were at the forefront of shipping Products of the milling industry from South Korea to the United States.

Latest Trends

March 2024

About

Overview In March 2024 South Korea's Products of the milling industry exports accounted up to $4.39M and imports accounted up to $28.6M, resulting in a negative trade balance of $24.2M. Between March 2023 and March 2024 the exports of South Korea's Products of the milling industry have decreased by $-475k (-9.77%) from $4.86M to $4.39M, while imports decreased by $-14M (-32.8%) from $42.6M to $28.6M.

Destinations In March 2024, Products of the milling industry were exported mostly to Malaysia ($1.12M), United States ($1.04M), Hong Kong ($534k), Chinese Taipei ($366k), and China ($300k), and were imported mostly from Australia ($6.45M), China ($5.62M), Germany ($2.34M), India ($2.26M), and Denmark ($2.12M).

Growth In March 2024, the decrease in Products of the milling industry's year-by-year exports was explained primarily by a decrease in exports to Malaysia ($-341k or -53%), Hong Kong ($-271k or -35%), and Thailand ($-172k or -100%). In March 2024, the decrease in Products of the milling industry's year-by-year imports was explained primarily by a decrease in imports from Vietnam ($-308k or -88.5%), Finland ($-219k or -72.8%), and Poland ($-206k or -9.91%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-475k(-9.77%)

IMPORT GROWTH (March 2023 - March 2024)$-14M(-32.8%)

MAIN DESTINATION (March 2024)Malaysia$1.12M

This section shows Products of the milling industry'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 Products of the milling industry over time.

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