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Trade between South Korea and the United States

In 2024, South Korea exported $134.6 billion to the United States and imported $71.4 billion. South Korea ran a surplus of $63.2 billion with the United States, compared with a surplus of $17 billion in 2019. The United States was South Korea’s 2nd largest trading partner (15% of its trade), and South Korea was the United States’ 6th (4%).

Summary

South Korea → United States
$134.6billion
United States → South Korea
$71.4billion
South Korea’s balance
$63.2billion

Balance

South Korea’s trade balance with the United States

Trade between South Korea and the United States grew 3.7-fold since 1995

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

  • Exports 135
  • Imports 71.4
  • Balance +63.2

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$25.4 billion$30.1 billion-$4.7 billion
1996$21.8 billion$32.2 billion-$10.4 billion
1997$23.9 billion$29.8 billion-$5.9 billion
1998$25.1 billion$20.8 billion$4.3 billion
1999$32.7 billion$24.6 billion$8 billion
2000$40.9 billion$28.9 billion$12 billion
2001$35 billion$23.6 billion$11.4 billion
2002$36.8 billion$22.9 billion$13.9 billion
2003$38.4 billion$24.3 billion$14.1 billion
2004$47.5 billion$28.3 billion$19.1 billion
2005$46.1 billion$30 billion$16.2 billion
2006$48.9 billion$33.3 billion$15.6 billion
2007$49.8 billion$36.4 billion$13.4 billion
2008$50 billion$37.5 billion$12.4 billion
2009$40.1 billion$28.7 billion$11.5 billion
2010$50.2 billion$39.8 billion$10.5 billion
2011$58.9 billion$44.5 billion$14.5 billion
2012$62.2 billion$42.8 billion$19.4 billion
2013$63.7 billion$40.6 billion$23.2 billion
2014$71.9 billion$44.5 billion$27.4 billion
2015$73.3 billion$43.1 billion$30.2 billion
2016$70.9 billion$41.4 billion$29.5 billion
2017$71.9 billion$49.9 billion$22 billion
2018$74.6 billion$58 billion$16.6 billion
2019$78.1 billion$61 billion$17 billion
2020$76.7 billion$56.8 billion$19.9 billion
2021$96.4 billion$72.2 billion$24.3 billion
2022$117 billion$77.2 billion$39.8 billion
2023$116.7 billion$68.2 billion$48.6 billion
2024$134.6 billion$71.4 billion$63.2 billion

What they sell each other

What South Korea sells to the United States

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

  1. Cars$37.6 billion · 28%
    2.2 million tonnes · South Korea’s destinations
  2. Computer and office machine parts$7.5 billion · 5.6%
    7 thousand tonnes
  3. Auto parts$6.7 billion · 5%
    715 thousand tonnes · South Korea’s destinations
  4. Discs and storage media$5.4 billion · 4%
    8 thousand tonnes
  5. Refined petroleum$4.8 billion · 3.6%
    6.3 million tonnes · South Korea’s destinations
  6. Batteries$3.9 billion · 2.9%
    353 thousand tonnes · South Korea’s destinations
  7. Vaccines, blood and antisera$3.4 billion · 2.5%
    380 tonnes · South Korea’s destinations
  8. Other industrial machines$3.1 billion · 2.3%
    48 thousand tonnes
  9. Microchips$2.3 billion · 1.8%
    722 tonnes · South Korea’s destinations
  10. Refrigerators, freezers and heat pumps$2 billion · 1.5%
    300 thousand tonnes · South Korea’s destinations

What the United States sells to South Korea

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

  1. Crude petroleum$14.2 billion · 19.9%
    21.8 million tonnes · the United States’ destinations
  2. Natural gas and LPG$7.4 billion · 10.4%
    12.7 million tonnes
  3. Other industrial machines$3.9 billion · 5.4%
    9 thousand tonnes
  4. Microchips$2.9 billion · 4.1%
    28 thousand tonnes · the United States’ destinations
  5. Cars$2.1 billion · 2.9%
    95 thousand tonnes · the United States’ destinations
  6. Turbojets and gas turbines$1.8 billion · 2.5%
    2 thousand tonnes · the United States’ destinations
  7. Airplanes and helicopters$1.6 billion · 2.2%
    1 thousand tonnes · the United States’ destinations
  8. Frozen beef$1.2 billion · 1.7%
    156 thousand tonnes
  9. Other food preparations$1 billion · 1.5%
    22 thousand tonnes
  10. Medicines in measured doses or retail packs$938 million · 1.3%
    3 thousand tonnes · the United States’ destinations

How it travels

Estimated sea route from Busan to Los Angeles.

The estimated sea route between Busan and Los Angeles is 5,468 nautical miles (10,126 km) long: ≈ 12.5–16.5 days at sea (at 18 and 14 knots).

It does not cross any major canal or strait.

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$145.4 billion · 70.6%
  2. Air$60.6 billion · 29.4%

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

How much each matters to the other

The United States was South Korea’s 2nd largest trading partner (15% of its trade), and South Korea was the United States’ 6th (4%).

The United States in South Korea’s trade
14.8%
The United States’ rank among South Korea’s partners
2nd
South Korea in the United States’ trade
4.1%
South Korea’s rank among the United States’ partners
6th

Compare with

Other partners of South Korea

Other partners of the United States

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.