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South Korea trade in 2024

In 2024, South Korea exported $764 billion and imported $623.6 billion, a trade surplus of $140.4 billion. It was the world's 4th-largest exporter, with 3.3% of world exports. Its top export was microchips (22.1% of the total) and its main trading partner was China (21.2% of its trade).

Summary

Exports
$764billion
Imports
$623.6billion
Trade balance
+$140.4billion
Routes to the main partners. Width: trade value; color: estimated transport mode.SeaAirLand
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Products

What it exports

Microchips (22.1%) and cars (9.2%) together make up 31.3% of its exports.

  1. Microchips$168.7 billion · 22.1%
    Main partner: China
  2. Cars$70.3 billion · 9.2%
    Main partner: United States
  3. Refined petroleum$50.7 billion · 6.6%
    Main partner: Australia
  4. Cargo and cruise ships$25.2 billion · 3.3%
    Main partner: Liberia
  5. Cameras and broadcast equipment$24.1 billion · 3.2%
    Main partner: Vietnam
  6. Computer and office machine parts$23.4 billion · 3.1%
    Main partner: United States
  7. Auto parts$18.7 billion · 2.5%
    Main partner: United States
  8. Other industrial machines$14.9 billion · 2%
    Main partner: China
  9. Parts for broadcast equipment$11.3 billion · 1.5%
    Main partner: China
  10. Vaccines, blood and antisera$11.2 billion · 1.5%
    Main partner: United States

What it imports

Crude petroleum (13.6%) and microchips (9.6%) together make up 23.1% of its imports.

  1. Crude petroleum$84.7 billion · 13.6%
    Main partner: Saudi Arabia
  2. Microchips$59.6 billion · 9.6%
    Main partner: Taiwan
  3. Natural gas and LPG$34.7 billion · 5.6%
    Main partner: United States
  4. Refined petroleum$24.4 billion · 3.9%
    Main partner: United Arab Emirates
  5. Other industrial machines$19.7 billion · 3.2%
    Main partner: Netherlands
  6. Coal$15.5 billion · 2.5%
    Main partner: Australia
  7. Cars$12.2 billion · 2%
    Main partner: Germany
  8. Cameras and broadcast equipment$9.7 billion · 1.6%
    Main partner: China
  9. Computer and office machine parts$8.5 billion · 1.4%
    Main partner: China
  10. Iron ore$7.7 billion · 1.2%
    Main partner: Australia
By Harmonized System chapter (96)
ChapterExportsImports
85 · Electrical and electronic equipment$267.9 billion$120.3 billion
87 · Vehicles$94.3 billion$19.8 billion
84 · Mechanical machinery$90 billion$66.3 billion
27 · Oil, gas and coal$54.2 billion$160.2 billion
39 · Plastics$37.8 billion$13.7 billion
89 · Ships and boats$28.3 billion$3.2 billion
72 · Iron and steel$24.2 billion$13.9 billion
29 · Organic chemicals$23.7 billion$14.1 billion
90 · Precision and medical instruments$15.1 billion$22.4 billion
30 · Pharmaceuticals$12.8 billion$9.2 billion
33 · Perfumes and cosmetics$10 billion$2 billion
73 · Iron and steel products$9.7 billion$8 billion
38 · Miscellaneous chemicals$8.6 billion$7.8 billion
40 · Rubber$8.5 billion$3 billion
28 · Inorganic chemicals$6.7 billion$9.8 billion
71 · Gems and precious metals$6 billion$6.4 billion
74 · Copper$5.9 billion$7.1 billion
76 · Aluminum$5.2 billion$8.7 billion
48 · Paper and paperboard$3.1 billion$2.4 billion
32 · Dyes, paints and tanning agents$2.8 billion$2.3 billion
70 · Glass$2.8 billion$2.5 billion
19 · Baked goods and cereal products$2.4 billion$1.1 billion
93 · Weapons and ammunition$2.3 billion$255 million
54 · Synthetic filaments$2 billion$1.1 billion
82 · Tools and cutlery$2 billion$988 million
88 · Aircraft and spacecraft$2 billion$4.2 billion
83 · Miscellaneous metal goods$1.9 billion$950 million
34 · Soap and cleaning products$1.9 billion$1.1 billion
21 · Food preparations$1.8 billion$2.7 billion
60 · Knitted fabric$1.8 billion$116 million
24 · Tobacco$1.6 billion$490 million
55 · Synthetic staple fibers$1.5 billion$592 million
03 · Fish and seafood$1.5 billion$4.1 billion
79 · Zinc$1.4 billion$164 million
94 · Furniture and lighting$1.4 billion$4.2 billion
20 · Preserved fruit and vegetables$1.4 billion$1.7 billion
22 · Beverages and spirits$1.2 billion$1.9 billion
59 · Coated and technical textiles$1.2 billion$476 million
68 · Stone, plaster and cement articles$1.1 billion$2.2 billion
86 · Railway equipment$1 billion$546 million
35 · Glues, starches and enzymes$1 billion$964 million
37 · Photographic goods$1 billion$1 billion
62 · Woven clothing$824 million$7.6 billion
78 · Lead$778 million$391 million
56 · Felt, nonwovens and rope$760 million$674 million
61 · Knitted clothing$739 million$5.7 billion
26 · Ores and slag$694 million$19.5 billion
95 · Toys and sports gear$610 million$2.3 billion
63 · Home textiles and used clothing$523 million$1.3 billion
16 · Prepared meat and fish$465 million$1.8 billion
31 · Fertilizers$445 million$737 million
96 · Other manufactured goods$432 million$868 million
25 · Salt, stone and cement$431 million$1 billion
69 · Ceramics$403 million$1.5 billion
49 · Books and printed matter$397 million$283 million
81 · Other base metals$390 million$1.4 billion
23 · Animal feed and food waste$375 million$2.6 billion
41 · Hides and leather$371 million$243 million
42 · Leather goods and bags$368 million$3.7 billion
97 · Art and antiques$337 million$490 million
52 · Cotton$328 million$781 million
17 · Sugar and sweets$311 million$1.6 billion
64 · Footwear$280 million$3.6 billion
15 · Fats and oils$279 million$2.4 billion
58 · Special fabrics and lace$248 million$86 million
75 · Nickel$233 million$1.4 billion
08 · Fruit and nuts$225 million$2.1 billion
47 · Wood pulp$133 million$1.5 billion
12 · Oilseeds and grains$132 million$1.7 billion
07 · Vegetables$130 million$847 million
91 · Watches and clocks$125 million$1.1 billion
92 · Musical instruments$115 million$205 million
65 · Hats$102 million$301 million
13 · Gums and plant extracts$88 million$309 million
57 · Carpets and rugs$87 million$123 million
18 · Cocoa and chocolate$79 million$506 million
02 · Meat and offal$79 million$6.7 billion
05 · Other animal products$78 million$324 million
36 · Explosives and matches$77 million$66 million
04 · Dairy, eggs and honey$73 million$1.3 billion
10 · Cereals$70 million$4.3 billion
80 · Tin$66 million$444 million
09 · Coffee, tea and spices$59 million$1.4 billion
44 · Wood$59 million$2.9 billion
51 · Wool$58 million$225 million
11 · Milling products and malt$51 million$338 million
67 · Feathers and artificial flowers$31 million$95 million
50 · Silk$20 million$28 million
06 · Live plants and flowers$11 million$164 million
53 · Other plant fibers$9 million$57 million
43 · Fur and fur goods$8 million$129 million
01 · Live animals$5 million$79 million
66 · Umbrellas and canes$3 million$158 million
45 · Cork$1 million$4 million
46 · Wicker and basketware$888 thousand$26 million
14 · Other plant products$572 thousand$46 million

Trading partners

China is its main destination (20.3% of exports) and source (22.3% of imports).

Who it sells to

PartnerValue (USD billions)ShareMode
China15520.3%Air
United States13517.6%Sea
Vietnam58.37.6%Air
Taiwan41.95.5%Air
Hong Kong36.64.8%Air
Singapore29.53.9%Air
Japan28.73.8%Sea
India21.22.8%Sea
Mexico19.32.5%Sea
Australia16.62.2%Sea

Who it buys from

PartnerValue (USD billions)ShareMode
China13922.3%Sea
United States71.411.5%Sea
Japan46.87.5%Air
Saudi Arabia31.55.1%Sea
Taiwan29.84.8%Air
Australia29.44.7%Sea
Vietnam28.44.6%Sea
Germany21.73.5%Sea
United Arab Emirates17.92.9%Sea
Qatar14.12.3%Sea

Overview 1995–2024

In 2024, South Korea accounted for 3.3% of world exports, compared with 2.5% in 1995.

Exports and imports

Exports grew 6-fold since 1995

USD billions (current). Bars: trade balance (green surplus, red deficit).

  • Exports 764
  • Imports 624
  • Balance +140

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$128 billion$133.3 billion-$5.2 billion
1996$132.1 billion$149.2 billion-$17 billion
1997$139.6 billion$144.6 billion-$5 billion
1998$142.5 billion$92.6 billion$49.9 billion
1999$154.2 billion$119.1 billion$35.1 billion
2000$188.2 billion$159.3 billion$28.9 billion
2001$168.7 billion$141.7 billion$27 billion
2002$183.3 billion$151.8 billion$31.5 billion
2003$221 billion$175.3 billion$45.6 billion
2004$282.2 billion$220 billion$62.2 billion
2005$312.1 billion$256.4 billion$55.7 billion
2006$372.7 billion$306.1 billion$66.6 billion
2007$418.6 billion$355.7 billion$62.9 billion
2008$468.6 billion$429.1 billion$39.5 billion
2009$399.7 billion$323.3 billion$76.3 billion
2010$503.9 billion$420.7 billion$83.2 billion
2011$592.1 billion$505.1 billion$87 billion
2012$577.4 billion$504.9 billion$72.5 billion
2013$588.7 billion$506.2 billion$82.5 billion
2014$588.2 billion$523.9 billion$64.2 billion
2015$555.2 billion$435.9 billion$119.3 billion
2016$526.5 billion$408.9 billion$117.6 billion
2017$617.1 billion$483.7 billion$133.4 billion
2018$643.9 billion$530.9 billion$113 billion
2019$591.7 billion$502.7 billion$89 billion
2020$566.1 billion$464 billion$102 billion
2021$701.8 billion$604.3 billion$97.5 billion
2022$770.5 billion$705.1 billion$65.4 billion
2023$694.1 billion$628.2 billion$65.8 billion
2024$764 billion$623.6 billion$140.4 billion

World rank

South Korea rose from 11th to 4th among the world's exporters

Rank among 222 countries by export value (1st at the top).

  • 11th in 1995
  • 4th in 2024

Source: CEPII BACI

Show the numbers
YearRank
199511th
199611th
199711th
199811th
199910th
200010th
200110th
200210th
200310th
20049th
20059th
20069th
20078th
20088th
20096th
20106th
20115th
20125th
20135th
20146th
20155th
20165th
20175th
20185th
20195th
20205th
20215th
20225th
20235th
20244th

What it sells

Its top export group is still electrical and electronic equipment: 35% in 2024

% of exports by Harmonized System chapter.

  • Other 19%
  • Organic chemicals 3%
  • Iron and steel 3%
  • Ships and boats 4%
  • Plastics 5%
  • Oil, gas and coal 7%
  • Mechanical machinery 12%
  • Vehicles 12%
  • Electrical and electronic equipment 35%

Source: CEPII BACI

Show the numbers
Chapter19952024
Electrical and electronic equipment29.2%35.1%
Vehicles7%12.3%
Mechanical machinery11.8%11.8%
Oil, gas and coal1.8%7.1%
Plastics4.4%5%
Ships and boats4.2%3.7%
Iron and steel4%3.2%
Organic chemicals2.3%3.1%
Other35.4%18.8%

Who it trades with

China went from 7% to 21% of South Korea's trade

% of total trade (exports + imports) with each partner.

  • China 21%
  • United States 15%
  • Vietnam 6%
  • Japan 5%
  • Taiwan 5%

Source: CEPII BACI

Show the numbers
Partner19952024
China7%21.2%
United States21.2%14.8%
Vietnam0.59%6.3%
Japan18.3%5.4%
Taiwan2.5%5.2%

Production hubs

Largest industrial emission sources (Climate TRACE, 2025)

  • POSCO Gwangyang steel plantSteel · 36.5 Mt CO₂e
  • POSCO Pohang steel plantSteel · 28 Mt CO₂e
  • Taean power stationPower · 24.1 Mt CO₂e
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Largest economic production hubs (gridded GDP, 2024)

  • Seoul$1.4 trillion (PPP, 2021 dollars)
  • Busan$376.3 billion (PPP, 2021 dollars)
  • Daejeon$245 billion (PPP, 2021 dollars)
View on the globe

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. Ranks are computed among the countries with data each year. Services are not included. Data up to 2024.

Neighboring countries

Main partners

See all countries