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Trade between Israel and South Korea

In 2024, Israel exported $1.3 billion to South Korea and imported $2.5 billion. Israel ran a deficit of $1.3 billion with South Korea, compared with a deficit of $825 million in 2019. South Korea was Israel’s 10th largest trading partner (2% of its trade), and Israel was South Korea’s 41st (0.3%).

Summary

Israel → South Korea
$1.3billion
South Korea → Israel
$2.5billion
Israel’s balance
-$1.3billion

Balance

Israel’s trade balance with South Korea

Trade between Israel and South Korea grew 4.4-fold since 1995

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

  • Exports 1.3
  • Imports 2.5
  • Balance -1.3

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$341 million$529 million-$187 million
1996$439 million$385 million$54 million
1997$647 million$346 million$301 million
1998$474 million$385 million$89 million
1999$618 million$498 million$120 million
2000$496 million$806 million-$310 million
2001$401 million$593 million-$191 million
2002$345 million$588 million-$243 million
2003$367 million$635 million-$267 million
2004$528 million$907 million-$379 million
2005$556 million$879 million-$323 million
2006$598 million$898 million-$300 million
2007$781 million$983 million-$202 million
2008$945 million$1.1 billion-$184 million
2009$791 million$902 million-$111 million
2010$825 million$1.3 billion-$443 million
2011$741 million$2 billion-$1.2 billion
2012$908 million$1.9 billion-$955 million
2013$895 million$1.8 billion-$940 million
2014$934 million$1.4 billion-$422 million
2015$873 million$1.2 billion-$291 million
2016$862 million$1.3 billion-$471 million
2017$1.2 billion$1.2 billion-$28 million
2018$1.3 billion$1.6 billion-$270 million
2019$904 million$1.7 billion-$825 million
2020$1 billion$1.7 billion-$647 million
2021$1.5 billion$2.2 billion-$706 million
2022$1.6 billion$2.7 billion-$1.1 billion
2023$1.6 billion$2.2 billion-$653 million
2024$1.3 billion$2.5 billion-$1.3 billion

What they sell each other

What Israel sells to South Korea

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

  1. Other measuring instruments$283 million · 22.5%
    390 tonnes
  2. Electron microscopes$72 million · 5.7%
    86 tonnes
  3. Microchips$59 million · 4.7%
    2 tonnes · Israel’s destinations
  4. Medical and dental instruments$53 million · 4.2%
    159 tonnes · Israel’s destinations
  5. Other electrical devices$51 million · 4.1%
    10 tonnes
  6. Copper scrap$42 million · 3.4%
    5 thousand tonnes
  7. Aluminum scrap$40 million · 3.2%
    22 thousand tonnes
  8. Computers$31 million · 2.5%
    13 tonnes · South Korea’s sources
  9. Potash fertilizers$30 million · 2.4%
    93 thousand tonnes
  10. Parts for broadcast equipment$29 million · 2.3%
    3 tonnes

What South Korea sells to Israel

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

  1. Cars$893 million · 35.4%
    66 thousand tonnes · South Korea’s destinations
  2. Cameras and broadcast equipment$400 million · 15.9%
    56 thousand tonnes
  3. Microchips$197 million · 7.8%
    6 tonnes · South Korea’s destinations
  4. Parts for switchgear$89 million · 3.5%
    13 tonnes
  5. Aircraft parts$53 million · 2.1%
    44 tonnes
  6. Refrigerators, freezers and heat pumps$46 million · 1.8%
    906 tonnes · South Korea’s destinations
  7. Instant coffee and tea extracts$39 million · 1.6%
    3 thousand tonnes
  8. Bulldozers and excavators$33 million · 1.3%
    7 thousand tonnes · South Korea’s destinations
  9. Other industrial machines$28 million · 1.1%
    182 tonnes
  10. Air conditioners$26 million · 1%
    451 tonnes · South Korea’s destinations

How it travels

Estimated sea route from Haifa to Busan.

The estimated sea route between Haifa and Busan is 15,465 nautical miles (28,642 km) long: ≈ 36–46 days at sea (at 18 and 14 knots).

Because of the 2024 disruptions, traffic is split: 85% via the Strait of Gibraltar, the Cape of Good Hope and the Strait of Malacca and Singapore (15,465 nautical miles); and 15% via the Suez Canal, the Bab-el-Mandeb Strait and the Strait of Malacca and Singapore (7,819 nautical miles).

Sailing estimate without port calls, waiting or transshipment; not a schedule. One main reference port per country: in large countries it does not represent all of its ports.

Split by transport mode

  1. Sea$2.1 billion · 54.9%
  2. Air$1.7 billion · 45.1%

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

How much each matters to the other

South Korea was Israel’s 10th largest trading partner (2% of its trade), and Israel was South Korea’s 41st (0.3%).

South Korea in Israel’s trade
2.5%
South Korea’s rank among Israel’s partners
10th
Israel in South Korea’s trade
0.3%
Israel’s rank among South Korea’s partners
41st

Compare with

Other partners of Israel

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.