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Trade between Hong Kong and South Korea

In 2024, Hong Kong exported $2.6 billion to South Korea and imported $36.6 billion. Hong Kong ran a deficit of $34 billion with South Korea, compared with a deficit of $27.4 billion in 2019. South Korea was Hong Kong’s 5th largest trading partner (5% of its trade), and Hong Kong was South Korea’s 8th (3%).

Summary

Hong Kong → South Korea
$2.6billion
South Korea → Hong Kong
$36.6billion
Hong Kong’s balance
-$34billion

Balance

Hong Kong’s trade balance with South Korea

Trade between Hong Kong and South Korea grew 3.5-fold since 1995

USD billions (current). Hong Kong’s exports and imports; bars: its balance (green surplus, red deficit).

  • Exports 2.6
  • Imports 36.6
  • Balance -34

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$1 billion$10.3 billion-$9.3 billion
1996$1.5 billion$11.2 billion-$9.8 billion
1997$1 billion$12.2 billion-$11.1 billion
1998$577 million$9.9 billion-$9.4 billion
1999$1.1 billion$9.2 billion-$8.2 billion
2000$1.4 billion$11.8 billion-$10.4 billion
2001$1.3 billion$10.3 billion-$8.9 billion
2002$1.8 billion$10.5 billion-$8.7 billion
2003$2.8 billion$14.5 billion-$11.7 billion
2004$3.4 billion$17.6 billion-$14.2 billion
2005$2.1 billion$14.7 billion-$12.5 billion
2006$2.2 billion$18 billion-$15.8 billion
2007$2.4 billion$17.6 billion-$15.2 billion
2008$2.4 billion$17.3 billion-$15 billion
2009$1.6 billion$17.2 billion-$15.6 billion
2010$2.1 billion$21 billion-$18.9 billion
2011$2.5 billion$25 billion-$22.5 billion
2012$2.2 billion$26.6 billion-$24.4 billion
2013$2.1 billion$22.6 billion-$20.4 billion
2014$2.9 billion$24.4 billion-$21.6 billion
2015$1.7 billion$26 billion-$24.3 billion
2016$1.9 billion$28.1 billion-$26.2 billion
2017$2 billion$34.8 billion-$32.8 billion
2018$2.2 billion$38.3 billion-$36.1 billion
2019$2.2 billion$29.5 billion-$27.4 billion
2020$1.8 billion$32.1 billion-$30.3 billion
2021$2.6 billion$41.8 billion-$39.3 billion
2022$2.3 billion$33.9 billion-$31.6 billion
2023$2.2 billion$28.2 billion-$26 billion
2024$2.6 billion$36.6 billion-$34 billion

What they sell each other

What Hong Kong sells to South Korea

The top 10 headings in 2024, with their share of the total.

  1. Microchips$1 billion · 39.4%
    143 tonnes · Hong Kong’s destinations
  2. Gold$329 million · 12.5%
    4 tonnes · Hong Kong’s destinations
  3. Turbojets and gas turbines$149 million · 5.7%
    97 tonnes · Hong Kong’s destinations
  4. Computer and office machine parts$143 million · 5.5%
    2 thousand tonnes
  5. Cargo and cruise ships$109 million · 4.2%
    88 thousand tonnes · South Korea’s sources
  6. Live fish$88 million · 3.4%
    7 tonnes
  7. Frozen fish$77 million · 2.9%
    15 thousand tonnes
  8. Printed circuit boards$76 million · 2.9%
    736 tonnes
  9. Discs and storage media$59 million · 2.2%
    42 tonnes
  10. Edible offal$44 million · 1.7%
    30 thousand tonnes

What South Korea sells to Hong Kong

The top 10 headings in 2024, with their share of the total.

  1. Microchips$22.6 billion · 61.6%
    6 thousand tonnes · South Korea’s destinations
  2. Computer and office machine parts$2.7 billion · 7.3%
    2 thousand tonnes
  3. Refined petroleum$1.3 billion · 3.6%
    2.2 million tonnes · South Korea’s destinations
  4. Discs and storage media$1.2 billion · 3.4%
    1 thousand tonnes
  5. Gold$947 million · 2.6%
    11 tonnes · South Korea’s destinations
  6. Parts for broadcast equipment$897 million · 2.5%
    302 tonnes
  7. Makeup and skin care$832 million · 2.3%
    19 thousand tonnes · South Korea’s destinations
  8. Gold and silverware$535 million · 1.5%
    8 tonnes
  9. Silver$395 million · 1.1%
    465 tonnes · South Korea’s destinations
  10. Cargo and cruise ships$330 million · 0.9%
    360 thousand tonnes · South Korea’s destinations

How it travels

Hong Kong and South Korea traded $39.3 billion in 2024 (both directions together). They trade mostly by air: 88% of the value travels by plane.

Split by transport mode

  1. Sea$4.7 billion · 12%
  2. Air$34.5 billion · 88%

Mode estimated from value per kilo and geography; both directions together.

How much each matters to the other

South Korea was Hong Kong’s 5th largest trading partner (5% of its trade), and Hong Kong was South Korea’s 8th (3%).

South Korea in Hong Kong’s trade
4.8%
South Korea’s rank among Hong Kong’s partners
5th
Hong Kong in South Korea’s trade
2.8%
Hong Kong’s rank among South Korea’s partners
8th

Compare with

Other partners of Hong Kong

Other partners of South Korea

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. The sea route comes from our own network derived from World Bank shipping density (not from nautical charts), between one main reference port per country (World Port Index); days are the distance at 14 and 18 knots, without port calls or waiting. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.