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How dependent is South Korea on China?

In 2024, China sold $139 billion to South Korea, 22.3% of its imports, ranking 1st among its suppliers. Its share was 21.9% in 2019 and 5.8% in 1995. In 344 products it sells more than 50% of what South Korea buys of them (in 125, more than 75%); what South Korea buys from China in those products (dominated value) adds up to $59.4 billion, 9.5% of its imports.

Summary

Share of its imports
22.3%
Value imported
$139billion
Rank among its suppliers
1st
Products where it sells over 50%
344
Products where it sells over 75%
125
Dominated value
$59.4billion
Share of total imports
9.5%

Trend

Trend in shares

China went from 5.8% to 22.3% of what South Korea buys

Share (%)

  • China 22.3%

Source: CEPII BACI

Show the numbers
YearValue (USD millions)ShareRank
19957,7365.8%3
19968,7915.9%3
199710,2067.1%3
19986,6877.2%3
19999,0097.6%3
200013,0258.2%3
200113,4609.5%3
200217,61511.6%3
200321,50412.3%3
200430,06813.7%2
200537,66714.7%2
200647,66115.6%2
200761,66317.3%1
200874,86417.5%1
200952,49316.2%1
201070,39116.7%1
201183,54116.5%1
201279,52915.8%1
201382,27116.3%1
201489,96817.2%1
201590,55920.8%1
201688,15421.6%1
201798,77320.4%1
2018107,08420.2%1
2019110,12921.9%1
2020108,36523.4%1
2021138,09822.9%1
2022148,76121.1%1
2023140,06022.3%1
2024139,00022.3%1

Products where China sells more than half

ProductSupplierShareSecondValue
Cameras and broadcast equipmentChina64.9%Vietnam · 19.9%$6.3 billion
BatteriesChina83%over 75%Indonesia · 9.5%$4.3 billion
ComputersChina54.3%Vietnam · 15.7%$3.9 billion
Cables and wireChina51.5%Vietnam · 26.5%$2.3 billion
Steel structuresChina86.4%over 75%Brazil · 4.7%$1.8 billion
Lithium hydroxide and other metal oxidesChina74.9%Chile · 8.9%$1.5 billion
Seats and chairsChina77%over 75%Vietnam · 13.1%$1.5 billion
Coated flat steelChina86.5%over 75%Japan · 9.9%$1.4 billion
Sweaters and pulloversChina59.9%Vietnam · 11.2%$1.3 billion
Worked stoneChina96%over 75%Vietnam · 0.94%$1.2 billion
Other iron or steel articlesChina54.6%Japan · 18.3%$1.1 billion
Women's suits and dressesChina56.5%Vietnam · 19.9%$1.1 billion
Chromates, permanganates and other metal saltsChina85.2%over 75%Japan · 8.9%$1 billion
Aluminum sheetChina67.4%United States · 13.3%$961 million
Electric heaters and hair dryersChina61.4%Malaysia · 8.2%$856 million
FurnitureChina64.8%Vietnam · 11.1%$698 million
ToysChina84.2%over 75%Japan · 4.8%$674 million
Plastic packagingChina56.7%Vietnam · 11.6%$670 million
Microphones and speakersChina59.1%Vietnam · 14.2%$660 million
Air conditionersChina70.4%Thailand · 16.1%$655 million
Refrigerators, freezers and heat pumpsChina74.3%Vietnam · 4.6%$636 million
Home appliancesChina69.6%Vietnam · 11.4%$594 million
Lamps and light fittingsChina86.7%over 75%Germany · 2.4%$585 million
Parts for cranes and excavatorsChina57.6%Germany · 11.9%$574 million
Synthetic filament yarnChina65.7%Vietnam · 17.6%$527 million
Massage and respiratory therapy devicesChina81.7%over 75%Australia · 3.5%$422 million
Seamless steel pipesChina60.8%Japan · 23.9%$391 million
Polyamides (nylon)China62.4%United States · 16.5%$380 million
Magnets and electromagnetsChina79.7%over 75%Philippines · 7.1%$377 million
Mattresses, pillows and quiltsChina74.9%Denmark · 8.4%$369 million

and 314 more

A product has a dominant supplier when a single country sells more than 50% of what is bought of it; we flag it separately above 75%.

Are there other suppliers in the world?

Exports from the rest of the world already have buyers; the figure shows scale, not availability.

Seen from China

South Korea is China’s 6th-largest customer, with 3.9% of its exports.

Sources and method

Sources and licenses

Methodology

The data come from CEPII BACI (Etalab 2.0 licence), which reconciles what the exporting and the importing country report, in current USD, FOB. Data up to 2024.

Dependence is the share of a country’s imports (or exports) that each partner accounts for. It does not measure whether a product has a substitute or how much it would cost to change supplier.

The concentration index (HHI) adds up the square of each partner’s share, in percent: it runs from 0 to 10,000. Its equivalent is 10,000 ÷ HHI, the number of partners of the same size that would give that value.

Products are HS4 headings of the 1992 nomenclature (some combine different goods), with a floor of $1 million per product and country.

The EU is the 27 current members in every year; the United Kingdom is outside the EU throughout the series.

Re-exports: countries that act as redistribution hubs carry their notice and the figures are not corrected.