Tea in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $13.4M in Tea, making it the 40th largest exporter of Tea in the world. At the same year, Tea was the 699th most exported product in South Korea. The main destination of Tea exports from South Korea are: Japan ($5.71M), United States ($4.08M), Germany ($492k), Singapore ($413k), and Chinese Taipei ($293k).

The fastest growing export markets for Tea of South Korea between 2021 and 2022 were Chinese Taipei ($225k), United States ($112k), and Singapore ($110k).

Imports In 2022, South Korea imported $24.2M in Tea, becoming the 57th largest importer of Tea in the world. At the same year, Tea was the 808th most imported product in South Korea. South Korea imports Tea primarily from: Vietnam ($3.03M), Singapore ($2.75M), Sri Lanka ($2.61M), China ($2.34M), and Chinese Taipei ($2.33M).

The fastest growing import markets in Tea for South Korea between 2021 and 2022 were Vietnam ($2.87M), Chinese Taipei ($748k), and Sri Lanka ($685k).

COMPANIES In 2023, leading companies such as WALONG MARKETING INC. (3) were at the forefront of shipping Tea from South Korea to the United States.

Latest Trends

March 2024

About

Overview In March 2024 South Korea's Tea exports accounted up to $694k and imports accounted up to $1.69M, resulting in a negative trade balance of $991k. Between March 2023 and March 2024 the exports of South Korea's Tea have decreased by $-466k (-40.2%) from $1.16M to $694k, while imports decreased by $-345k (-17%) from $2.03M to $1.69M.

Destinations In March 2024, Tea were exported mostly to Japan ($178k), United States ($146k), Australia ($140k), Germany ($60k), and Canada ($54k), and were imported mostly from Singapore ($331k), Sri Lanka ($215k), China ($180k), India ($178k), and Chinese Taipei ($128k).

Growth In March 2024, the decrease in Tea's year-by-year exports was explained primarily by a decrease in exports to Japan ($-184k or -34.8%), United States ($-160k or -19.3%), and United Kingdom ($-43k or -97.7%). In March 2024, the decrease in Tea's year-by-year imports was explained primarily by a decrease in imports from China ($-557k or -70.3%), Poland ($-130k or -95.6%), and Hong Kong ($-121k or -100%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-466k(-40.2%)

IMPORT GROWTH (March 2023 - March 2024)$-345k(-17%)

MAIN DESTINATION (March 2024)Japan$178k

This section shows Tea'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 Tea over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$13.4M

IMPORTS (2022)$24.2M

NET TRADE (2022)-$10.8M

In 2022, South Korea exported $13.4M in Tea. The main destinations of South Korea exports on Tea were Japan ($5.71M), United States ($4.08M), Germany ($492k), Singapore ($413k), and Chinese Taipei ($293k).

In 2022, South Korea imported $24.2M in Tea, mainly from Vietnam ($3.03M), Singapore ($2.75M), Sri Lanka ($2.61M), China ($2.34M), and Chinese Taipei ($2.33M).

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