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2022
Exports $247MWorld Rnk 15 / 186
Flag Rnk 242 / 1204
2022
Destination $9.28M China
2021 - 2022
FASTEST GROWING MARKET $9.28MIsrael
2022
PRODUCT COMPLEXITY IN Coffee and Tea Extracts-0.5Rnk 703 / 1025
2022
Imports $113MWorld Rnk 26 / 221
Flag Rnk 483 / 1213
2022
Origin $2.36M United States
2021 - 2022
FASTEST GROWING ORIGIN $2.36MColombia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $247M in Coffee and Tea Extracts, making it the 15th largest exporter of Coffee and Tea Extracts in the world. At the same year, Coffee and Tea Extracts was the 242nd most exported product in South Korea. The main destination of Coffee and Tea Extracts exports from South Korea are: China ($41.1M), Israel ($37M), Russia ($20.6M), United States ($19.3M), and South Africa ($18.5M).

The fastest growing export markets for Coffee and Tea Extracts of South Korea between 2021 and 2022 were Israel ($9.28M), South Africa ($4.85M), and Australia ($2.64M).

Imports In 2022, South Korea imported $113M in Coffee and Tea Extracts, becoming the 26th largest importer of Coffee and Tea Extracts in the world. At the same year, Coffee and Tea Extracts was the 483rd most imported product in South Korea. South Korea imports Coffee and Tea Extracts primarily from: United States ($19.3M), Vietnam ($17.6M), Brazil ($16.1M), Colombia ($10.2M), and Germany ($8.02M).

The fastest growing import markets in Coffee and Tea Extracts for South Korea between 2021 and 2022 were Colombia ($2.36M), Vietnam ($2.35M), and Spain ($1.8M).

COMPANIES In 2023, leading companies such as LG Electronics (4), Walong Marketing (1), and Samsung (1) were at the forefront of shipping Coffee and Tea Extracts from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Coffee and Tea Extracts exports accounted up to $18.8M and imports accounted up to $12.6M, resulting in a positive trade balance of $6.23M. Between September 2023 and September 2024 the exports of South Korea's   Coffee and Tea Extracts have decreased by $-1.21M (-6.03%) from $20M to $18.8M, while imports decreased by $-2.25M (-15.2%) from $14.8M to $12.6M.

Destinations In September 2024, Coffee and Tea Extracts were exported mostly to Israel ($2.61M), China ($2.1M), United States ($2.02M), Japan ($1.76M), and Russia ($1.65M), and were imported mostly from Brazil ($3.37M), Vietnam ($1.52M), China ($1.1M), United States ($1.07M), and India ($1M).

Growth In September 2024, the decrease in Coffee and Tea Extracts's year-by-year exports was explained primarily by a decrease in exports to China ($-1.71M or -48.4%), Poland ($-900k or -100%), and Malaysia ($-368k or -43.1%). In September 2024, the decrease in Coffee and Tea Extracts's year-by-year imports was explained primarily by a decrease in imports from Germany ($-1.9M or -54.7%), Japan ($-278k or -48.3%), and Mexico ($-126k or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-1.21M(-6.03%)
IMPORT GROWTH (September 2023 - September 2024)$-2.25M(-15.2%)
MAIN DESTINATION (September 2024)Israel$2.61M

This section shows Coffee and Tea Extracts'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 Coffee and Tea Extracts over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$247M
IMPORTS (2022)$113M
NET TRADE (2022)$134M

In 2022, South Korea exported $247M in Coffee and Tea Extracts. The main destinations of South Korea exports on Coffee and Tea Extracts were China ($41.1M), Israel ($37M), Russia ($20.6M), United States ($19.3M), and South Africa ($18.5M).

In 2022, South Korea imported $113M in Coffee and Tea Extracts, mainly from United States ($19.3M), Vietnam ($17.6M), Brazil ($16.1M), Colombia ($10.2M), and Germany ($8.02M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Coffee and Tea Extracts EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Israel$9.28M (33.4%)
South Africa$4.85M (35.4%)
Australia$2.64M (28.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Coffee and Tea Extracts BY South Korea WERE (2021 - 2022):
Chile-$5.21M (-38.3%)
Japan-$4.98M (-34.8%)
Malaysia-$2.61M (-28.1%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Coffee and Tea Extracts were:
Germany $992M
Brazil $722M
Spain $609M
In 2022, South Korea's main importing competitors in Coffee and Tea Extracts were:
United States $945M
Germany $594M
Philippines $539M

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Trade Value of Coffee and Tea Extracts by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $8.84M
TOP IMPORT POTENTIALChina+ $4.75M

Coffee and Tea Extracts’s highest export potential is China. With an export gap of $8.84M.   Coffee and Tea Extracts’s highest import potential is China with an import gap of $4.75M.

See methodology.

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