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2022
Exports $6.8kWorld Rnk 92 / 112
Flag Rnk 1178 / 1204
2022
Destination $6.22k Netherlands
2021 - 2022
FASTEST GROWING MARKET $6.22kNetherlands
2022
PRODUCT COMPLEXITY IN Forage Crops-0.89Rnk 805 / 1025
2022
Imports $476MWorld Rnk 4 / 171
Flag Rnk 198 / 1213
2022
Origin $56.7M United States
2021 - 2022
FASTEST GROWING ORIGIN $56.7MUnited States
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $6.8k in Forage Crops, making it the 92nd largest exporter of Forage Crops in the world. At the same year, Forage Crops was the 1178th most exported product in South Korea. The main destination of Forage Crops exports from South Korea are: Netherlands ($6.22k) and Vietnam ($574).

The fastest growing export markets for Forage Crops of South Korea between 2021 and 2022 were Netherlands ($6.22k) and Vietnam ($574).

Imports In 2022, South Korea imported $476M in Forage Crops, becoming the 4th largest importer of Forage Crops in the world. At the same year, Forage Crops was the 198th most imported product in South Korea. South Korea imports Forage Crops primarily from: United States ($328M), Australia ($94.7M), Canada ($24.2M), Spain ($21.6M), and Italy ($3.96M).

The fastest growing import markets in Forage Crops for South Korea between 2021 and 2022 were United States ($56.7M), Spain ($7.3M), and Canada ($6.48M).

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Forage Crops exports accounted up to $0 and imports accounted up to $33.6M, resulting in a negative trade balance of $33.6M. Between July 2023 and July 2024 the exports of South Korea's   Forage Crops have remained the same by $0 (N/A%) from $0 to $0, while imports increased by $5.74M (20.6%) from $27.9M to $33.6M.

Destinations In July 2024, Forage Crops were exported mostly to Japan ($0), Pakistan ($0), Germany ($0), Spain ($0), and Italy ($0), and were imported mostly from United States ($23.7M), Australia ($7.02M), Canada ($1.68M), Spain ($1.07M), and Italy ($134k).

Growth In July 2024, the change in Forage Crops's year-by-year exports was explained primarily by a decrease in exports to . In July 2024, the increase in Forage Crops's year-by-year imports was explained primarily by an increase in imports from United States ($4.9M or 26%) and Australia ($113k or 2.59%).

Subnational Monthly Trade

Time Scale
Flow
Color
IMPORT GROWTH (July 2023 - July 2024)$5.74M(20.6%)
MAIN DESTINATION (July 2024)Japan$0

This section shows Forage Crops'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 Forage Crops over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$6.8k
IMPORTS (2022)$476M
NET TRADE (2022)-$476M

In 2022, South Korea exported $6.8k in Forage Crops. The main destinations of South Korea exports on Forage Crops were Netherlands ($6.22k) and Vietnam ($574).

In 2022, South Korea imported $476M in Forage Crops, mainly from United States ($328M), Australia ($94.7M), Canada ($24.2M), Spain ($21.6M), and Italy ($3.96M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Forage Crops EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Netherlands$6.22k (1%)
Vietnam$574 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Forage Crops BY South Korea WERE (2021 - 2022):
United States-$2.74k (-100%)
Singapore-$1.52k (-100%)
Guatemala-$2 (-100%)
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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 Forage Crops were:
United States $2.03B
Australia $555M
Spain $452M
In 2022, South Korea's main importing competitors in Forage Crops were:
China $993M
Japan $926M
United Arab Emirates $482M

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Trade Value of Forage Crops by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALNetherlands+ $3.16k
TOP IMPORT POTENTIALItaly+ $2.22M

Forage Crops’s highest export potential is Netherlands. With an export gap of $3.16k.   Forage Crops’s highest import potential is Italy with an import gap of $2.22M.

See methodology.

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