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Trade between South Korea and Vietnam

In 2024, South Korea exported $58.3 billion to Vietnam and imported $28.4 billion. South Korea ran a surplus of $29.9 billion with Vietnam, compared with a surplus of $26 billion in 2019. Vietnam was South Korea’s 3rd largest trading partner (6% of its trade), and South Korea was Vietnam’s 3rd (10%).

Summary

South Korea → Vietnam
$58.3billion
Vietnam → South Korea
$28.4billion
South Korea’s balance
$29.9billion

Balance

South Korea’s trade balance with Vietnam

Trade between South Korea and Vietnam grew 56.2-fold since 1995

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

  • Exports 58.3
  • Imports 28.4
  • Balance +29.9

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$1.4 billion$193 million$1.2 billion
1996$1.6 billion$232 million$1.4 billion
1997$1.6 billion$239 million$1.4 billion
1998$1.3 billion$174 million$1.2 billion
1999$1.4 billion$264 million$1.2 billion
2000$2 billion$408 million$1.6 billion
2001$2 billion$477 million$1.5 billion
2002$2.7 billion$550 million$2.1 billion
2003$2.9 billion$603 million$2.3 billion
2004$3.7 billion$729 million$3 billion
2005$4 billion$813 million$3.2 billion
2006$4.4 billion$1 billion$3.4 billion
2007$6.1 billion$1.4 billion$4.7 billion
2008$8 billion$2.1 billion$5.9 billion
2009$7.9 billion$2.4 billion$5.5 billion
2010$10.5 billion$3.3 billion$7.2 billion
2011$14.2 billion$5 billion$9.2 billion
2012$15.6 billion$6 billion$9.5 billion
2013$21.1 billion$7.2 billion$14 billion
2014$21.3 billion$8 billion$13.3 billion
2015$27.5 billion$9.8 billion$17.7 billion
2016$33.6 billion$12.2 billion$21.3 billion
2017$45.9 billion$16.2 billion$29.7 billion
2018$47.2 billion$19.6 billion$27.6 billion
2019$47.1 billion$21.1 billion$26 billion
2020$47 billion$19.8 billion$27.2 billion
2021$56.1 billion$23.9 billion$32.2 billion
2022$61.3 billion$26.6 billion$34.8 billion
2023$52.4 billion$25.9 billion$26.5 billion
2024$58.3 billion$28.4 billion$29.9 billion

What they sell each other

What South Korea sells to Vietnam

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

  1. Microchips$16.6 billion · 28.5%
    2 thousand tonnes · South Korea’s destinations
  2. Cameras and broadcast equipment$11.1 billion · 19%
    16 thousand tonnes
  3. Refined petroleum$2.7 billion · 4.6%
    3.7 million tonnes · South Korea’s destinations
  4. Parts for broadcast equipment$1.5 billion · 2.5%
    4 thousand tonnes
  5. Phones and telecom equipment$1.1 billion · 2%
    3 thousand tonnes
  6. Printed circuit boards$1.1 billion · 1.8%
    4 thousand tonnes
  7. Diodes, transistors and solar cells$879 million · 1.5%
    1 thousand tonnes
  8. Low-voltage switches and connectors$857 million · 1.5%
    11 thousand tonnes
  9. Other industrial machines$838 million · 1.4%
    18 thousand tonnes
  10. Auto parts$729 million · 1.3%
    70 thousand tonnes · South Korea’s destinations

What Vietnam sells to South Korea

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

  1. Computer and office machine parts$3.1 billion · 10.8%
    14 thousand tonnes
  2. Phones and telecom equipment$2.2 billion · 7.9%
    6 thousand tonnes
  3. Cameras and broadcast equipment$1.9 billion · 6.8%
    6 thousand tonnes
  4. Cables and wire$1.2 billion · 4.2%
    56 thousand tonnes · Vietnam’s destinations
  5. Computers$1.1 billion · 3.9%
    2 thousand tonnes · Vietnam’s destinations
  6. Parts for broadcast equipment$910 million · 3.2%
    6 thousand tonnes
  7. Discs and storage media$624 million · 2.2%
    260 tonnes
  8. Monitors and projectors$463 million · 1.6%
    23 thousand tonnes · Vietnam’s destinations
  9. Men's suits and trousers$446 million · 1.6%
    17 thousand tonnes
  10. Textile footwear$431 million · 1.5%
    11 thousand tonnes

How it travels

Estimated sea route from Busan to Phu My.

The estimated sea route between Busan and Phu My is 1,994 nautical miles (3,692 km) long: ≈ 4.5–6 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$35.5 billion · 40.9%
  2. Air$51.3 billion · 59.1%

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

How much each matters to the other

Vietnam was South Korea’s 3rd largest trading partner (6% of its trade), and South Korea was Vietnam’s 3rd (10%).

Vietnam in South Korea’s trade
6.3%
Vietnam’s rank among South Korea’s partners
3rd
South Korea in Vietnam’s trade
9.8%
South Korea’s rank among Vietnam’s partners
3rd

Compare with

Other partners of South Korea

Other partners of Vietnam

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.