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Trade between South Korea and Switzerland

In 2024, South Korea exported $2 billion to Switzerland and imported $3.6 billion. South Korea ran a deficit of $1.6 billion with Switzerland, compared with a deficit of $2.3 billion in 2019. Switzerland was South Korea’s 36th largest trading partner (0.4% of its trade), and South Korea was Switzerland’s 27th (0.7%).

Summary

South Korea → Switzerland
$2billion
Switzerland → South Korea
$3.6billion
South Korea’s balance
-$1.6billion

Balance

South Korea’s trade balance with Switzerland

Trade between South Korea and Switzerland grew 3-fold since 1995

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

  • Exports 2
  • Imports 3.6
  • Balance -1.6

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$463 million$1.4 billion-$955 million
1996$665 million$2.2 billion-$1.6 billion
1997$411 million$2.3 billion-$1.8 billion
1998$5 billion$1.5 billion$3.5 billion
1999$1.9 billion$1.1 billion$742 million
2000$587 million$973 million-$386 million
2001$500 million$846 million-$346 million
2002$544 million$992 million-$448 million
2003$462 million$1.4 billion-$973 million
2004$603 million$1.3 billion-$669 million
2005$673 million$1.2 billion-$519 million
2006$907 million$1.3 billion-$439 million
2007$664 million$2 billion-$1.4 billion
2008$657 million$2 billion-$1.3 billion
2009$493 million$1.7 billion-$1.2 billion
2010$481 million$2.1 billion-$1.6 billion
2011$1.3 billion$2.6 billion-$1.3 billion
2012$969 million$2.6 billion-$1.7 billion
2013$1.3 billion$2.7 billion-$1.4 billion
2014$682 million$2.9 billion-$2.2 billion
2015$1.7 billion$2.5 billion-$763 million
2016$858 million$2.4 billion-$1.5 billion
2017$742 million$2.8 billion-$2 billion
2018$793 million$3.1 billion-$2.3 billion
2019$864 million$3.1 billion-$2.3 billion
2020$1.1 billion$2.8 billion-$1.7 billion
2021$2.3 billion$3.4 billion-$1.1 billion
2022$2.3 billion$3.3 billion-$985 million
2023$2.8 billion$3.3 billion-$472 million
2024$2 billion$3.6 billion-$1.6 billion

What they sell each other

What South Korea sells to Switzerland

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

  1. Vaccines, blood and antisera$929 million · 46.1%
    41 tonnes · South Korea’s destinations
  2. Cars$328 million · 16.3%
    17 thousand tonnes · South Korea’s destinations
  3. Nucleic acids and other heterocycles$68 million · 3.4%
    1 tonne
  4. Platinum$43 million · 2.1%
    1 tonne · Switzerland’s sources
  5. Gold$31 million · 1.6%
    1 tonne · South Korea’s destinations
  6. Computer and office machine parts$21 million · 1.1%
    39 tonnes
  7. Printed circuit boards$21 million · 1%
    9 tonnes
  8. Plastic packaging$20 million · 1%
    271 tonnes
  9. New tires$19 million · 0.92%
    3 thousand tonnes · South Korea’s destinations
  10. Medical and dental instruments$18 million · 0.91%
    72 tonnes · South Korea’s destinations

What Switzerland sells to South Korea

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

  1. Other wristwatches$590 million · 16.3%
    64 tonnes
  2. Precious metal watches$295 million · 8.2%
    5 tonnes
  3. Vaccines, blood and antisera$291 million · 8%
    59 tonnes · Switzerland’s destinations
  4. Medicines in measured doses or retail packs$274 million · 7.6%
    515 tonnes · Switzerland’s destinations
  5. Jewelry$215 million · 5.9%
    3 tonnes · Switzerland’s destinations
  6. Coffee$133 million · 3.7%
    4 thousand tonnes · Switzerland’s destinations
  7. Air pumps, compressors and fans$115 million · 3.2%
    2 thousand tonnes
  8. Nitrogen heterocyclic compounds$112 million · 3.1%
    327 tonnes
  9. Gold$100 million · 2.8%
    1 tonne · Switzerland’s destinations
  10. Medical and dental instruments$92 million · 2.6%
    715 tonnes · Switzerland’s destinations

How it travels

South Korea and Switzerland traded $5.6 billion in 2024 (both directions together). They trade mostly by air: 84% of the value travels by plane.

Split by transport mode

  1. Sea$910 million · 16.1%
  2. Air$4.7 billion · 83.9%

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

How much each matters to the other

Switzerland was South Korea’s 36th largest trading partner (0.4% of its trade), and South Korea was Switzerland’s 27th (0.7%).

Switzerland in South Korea’s trade
0.4%
Switzerland’s rank among South Korea’s partners
36th
South Korea in Switzerland’s trade
0.7%
South Korea’s rank among Switzerland’s partners
27th

Compare with

Other partners of South Korea

Other partners of Switzerland

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.