South Korea

U.S. Trade with South Korea in 2021

Export Market Rank
#6 Among U.S. Agricultural Export Markets
Total Export Value
$9.85 Billion
3-Year Average
$8.79 Billion
Compound Average Growth
4% (2012-2021)
Total Export Value 2012 - 2021
Export Value by Commodity 2021

Top 10 Exports to South Korea in 2021

Commodity Total Value (USD) Total Volume (Metric Tons) 10-Year Average Value (USD) 10-Year Growth
Beef & Beef Products $2.36 Billion 277,443 $1.28 Billion 305%
Corn $858.91 Million 3.23 Million $722.82 Million 41%
Pork & Pork Products $557.95 Million 167,623 $472.59 Million 32%
Wheat $498.11 Million 1.73 Million $380.01 Million -23%
Food Preparations $491.93 Million 16,450 $324.16 Million 152%
Fresh Fruit $429.82 Million 181,268 $411.31 Million 16%
Dairy Products $420.94 Million 125,661 $316.75 Million 87%
Fish and Seafood $418.9 Million 145,704 $486.26 Million -1%
Tree Nuts $343.93 Million 59,147 $310.26 Million 28%
Ethanol (non-bev.) $333.4 Million --- $125 Million 1036%

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Data and Analysis

On November 4, 2022, the Korea Agro-Fisheries & Food Trade Corporation (aT) announced the results of the 2022 U.S. orange tariff rate quota (TRQ) allocations. Korea switched to a new license allocation system this year, replacing the import rights auction process used in prior years. A key piece of the new allocation system is that 80 percent of the total TRQ is reserved for importers with historical import volumes, while the remaining 20 percent is reserved for new importers.
FY2022 agricultural exports reach record levels.
Attaché Report (GAIN)

South Korea: Fresh Deciduous Fruit Annual

Korea’s 2022/23 pear production is projected to increase by 16 percent, driven mostly by increased yields due to favorable weather. Korean pear consumption is projected to rise by 14.3 percent following a 6 percent fall in market prices, with the balance of increased production going to exports. Fresh pear imports (including U.S. origin) are not allowed under Korea’s existing phytosanitary regulations.

News and Features

Australia, Canada, Japan, New Zealand, the Republic of Korea, and the United States issued a joint statement following the conclusion of the 2022 APEC Food Security Ministers Meeting hosted by Thailand.
The American agricultural industry posted its highest annual export levels ever recorded in 2021, Secretary of Agriculture Tom Vilsack announced today.
The quarterly trade forecast released today projects fiscal year 2021 U.S. farm exports at $164 billion – the highest total on record. This represents an increase of $28 billion from last fiscal year and $7 billion from USDA’s previous forecast.

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