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Trade between South Korea and the United Kingdom

In 2024, South Korea exported $7.8 billion to the United Kingdom and imported $4.5 billion. South Korea ran a surplus of $3.3 billion with the United Kingdom, compared with a surplus of $1.5 billion in 2019. The United Kingdom was South Korea’s 24th largest trading partner (0.9% of its trade), and South Korea was the United Kingdom’s 24th (1%).

Summary

South Korea → United Kingdom
$7.8billion
United Kingdom → South Korea
$4.5billion
South Korea’s balance
$3.3billion

Balance

South Korea’s trade balance with the United Kingdom

Trade between South Korea and the United Kingdom grew 2.3-fold since 1995

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

  • Exports 7.8
  • Imports 4.5
  • Balance +3.3

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$2.9 billion$2.4 billion$542 million
1996$3.4 billion$3.1 billion$355 million
1997$4.1 billion$3.4 billion$673 million
1998$4.3 billion$1.8 billion$2.5 billion
1999$5.1 billion$2.2 billion$2.9 billion
2000$7 billion$2.6 billion$4.4 billion
2001$5 billion$2.4 billion$2.6 billion
2002$5.4 billion$2.5 billion$2.9 billion
2003$5.6 billion$2.7 billion$2.8 billion
2004$7.5 billion$3.7 billion$3.8 billion
2005$7.2 billion$3.1 billion$4.1 billion
2006$7.6 billion$3 billion$4.6 billion
2007$8.3 billion$3.5 billion$4.8 billion
2008$7.5 billion$3.7 billion$3.8 billion
2009$4.9 billion$2.9 billion$1.9 billion
2010$4.9 billion$3.3 billion$1.6 billion
2011$6.4 billion$3.8 billion$2.7 billion
2012$5.4 billion$6.2 billion-$880 million
2013$5.3 billion$6.5 billion-$1.2 billion
2014$7 billion$7.5 billion-$495 million
2015$9.3 billion$6.1 billion$3.3 billion
2016$6.9 billion$5.1 billion$1.8 billion
2017$9.3 billion$6.3 billion$3.1 billion
2018$6.7 billion$6.6 billion$111 million
2019$6 billion$4.5 billion$1.5 billion
2020$4.7 billion$4.3 billion$475 million
2021$6.4 billion$5.6 billion$804 million
2022$8.4 billion$5.7 billion$2.7 billion
2023$7.9 billion$5 billion$2.9 billion
2024$7.8 billion$4.5 billion$3.3 billion

What they sell each other

What South Korea sells to the United Kingdom

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

  1. Cars$2.3 billion · 29.8%
    132 thousand tonnes · South Korea’s destinations
  2. Cameras and broadcast equipment$433 million · 5.6%
    399 tonnes
  3. Refined petroleum$391 million · 5%
    356 thousand tonnes · South Korea’s destinations
  4. Vaccines, blood and antisera$337 million · 4.3%
    113 tonnes · South Korea’s destinations
  5. Dredgers and floating cranes$315 million · 4%
    65 thousand tonnes
  6. Aircraft parts$232 million · 3%
    3 thousand tonnes
  7. Coated flat steel$210 million · 2.7%
    215 thousand tonnes
  8. Cargo and cruise ships$180 million · 2.3%
    55 thousand tonnes · South Korea’s destinations
  9. Makeup and skin care$167 million · 2.2%
    4 thousand tonnes · South Korea’s destinations
  10. Turbojets and gas turbines$167 million · 2.1%
    97 tonnes · South Korea’s destinations

What the United Kingdom sells to South Korea

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

  1. Cars$610 million · 13.6%
    18 thousand tonnes · the United Kingdom’s destinations
  2. Crude petroleum$469 million · 10.5%
    725 thousand tonnes · the United Kingdom’s destinations
  3. Platinum$261 million · 5.8%
    6 tonnes · the United Kingdom’s destinations
  4. Spirits$203 million · 4.5%
    22 thousand tonnes
  5. Medicines in measured doses or retail packs$189 million · 4.2%
    620 tonnes · the United Kingdom’s destinations
  6. Physical and chemical analysis instruments$104 million · 2.3%
    190 tonnes
  7. Nitrogen heterocyclic compounds$92 million · 2.1%
    590 tonnes
  8. Other industrial machines$78 million · 1.7%
    711 tonnes
  9. Turbojets and gas turbines$76 million · 1.7%
    72 tonnes · the United Kingdom’s destinations
  10. Diesel engines$66 million · 1.5%
    3 thousand tonnes

How it travels

Estimated sea route from Busan to Felixstowe.

The estimated sea route between Busan and Felixstowe is 14,433 nautical miles (26,730 km) long: ≈ 33.5–43 days at sea (at 18 and 14 knots).

Because of the 2024 disruptions, traffic is split: 85% via the Strait of Malacca and Singapore, the Cape of Good Hope and the Strait of Dover (14,433 nautical miles); and 15% via the Strait of Malacca and Singapore, the Bab-el-Mandeb Strait, the Suez Canal, the Strait of Gibraltar and the Strait of Dover (11,000 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$7.9 billion · 64.2%
  2. Air$4.4 billion · 35.8%

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

How much each matters to the other

The United Kingdom was South Korea’s 24th largest trading partner (0.9% of its trade), and South Korea was the United Kingdom’s 24th (1%).

The United Kingdom in South Korea’s trade
0.9%
The United Kingdom’s rank among South Korea’s partners
24th
South Korea in the United Kingdom’s trade
1.1%
South Korea’s rank among the United Kingdom’s partners
24th

Compare with

Other partners of South Korea

Other partners of the United Kingdom

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.