South Korea

Compare South Korea →

Rep. of Korea · KR · KOR · BACI 410 · latest data 2024

Exports

$764.0B USD, nominal · 2024

= $763,981 M29.3% over 5 yrs (up)

Imports

$623.6B USD, nominal · 2024

= $623,610 M24.3% over 5 yrs (up)

Trade balancesurplus

$140.4B USD, nominal · 2024

= $140,371 M

Total trade

$1.39T USD, nominal · 2024

= $1,387,591 M27.0% over 5 yrs (up)

World position: #4 of 225 exporters · top 5% · #10 of 225 importers · top 5% · 2024
World export share since 1995: +0.8 pp

Trade timeline

South Korea's exports grew from $129.1B in 1995 to $764.0B in 2024; the 2024 balance was $140.4B.

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Exports, imports, trade balance and total trade of South Korea per year, USD millions.
Year	Exports ($M)	Imports ($M)	Balance ($M)	Total ($M)
1995	$129,142 M	$133,368 M	−$4,225 M	$262,510 M
1996	$133,228 M	$149,081 M	−$15,853 M	$282,308 M
1997	$139,744 M	$144,424 M	−$4,680 M	$284,167 M
1998	$142,389 M	$92,533 M	$49,856 M	$234,921 M
1999	$154,603 M	$119,063 M	$35,540 M	$273,666 M
2000	$187,839 M	$159,273 M	$28,566 M	$347,112 M
2001	$168,837 M	$141,365 M	$27,471 M	$310,202 M
2002	$182,911 M	$151,631 M	$31,279 M	$334,542 M
2003	$220,438 M	$175,020 M	$45,418 M	$395,458 M
2004	$281,886 M	$218,907 M	$62,979 M	$500,793 M
2005	$309,496 M	$256,053 M	$53,443 M	$565,548 M
2006	$370,056 M	$305,817 M	$64,239 M	$675,874 M
2007	$417,799 M	$355,076 M	$62,723 M	$772,876 M
2008	$468,728 M	$428,366 M	$40,362 M	$897,094 M
2009	$403,567 M	$322,472 M	$81,095 M	$726,039 M
2010	$504,931 M	$420,729 M	$84,202 M	$925,659 M
2011	$592,120 M	$504,395 M	$87,725 M	$1,096,515 M
2012	$578,787 M	$504,463 M	$74,323 M	$1,083,250 M
2013	$585,775 M	$505,999 M	$79,777 M	$1,091,774 M
2014	$590,787 M	$521,906 M	$68,881 M	$1,112,693 M
2015	$555,509 M	$435,420 M	$120,089 M	$990,929 M
2016	$526,188 M	$408,574 M	$117,613 M	$934,762 M
2017	$616,470 M	$481,834 M	$134,636 M	$1,098,304 M
2018	$641,884 M	$531,207 M	$110,678 M	$1,173,091 M
2019	$590,890 M	$501,633 M	$89,257 M	$1,092,523 M
2020	$566,439 M	$463,848 M	$102,591 M	$1,030,287 M
2021	$700,137 M	$604,445 M	$95,692 M	$1,304,582 M
2022	$769,041 M	$707,789 M	$61,252 M	$1,476,830 M
2023	$644,859 M	$481,051 M	$163,808 M	$1,125,909 M
2024	$763,981 M	$623,610 M	$140,371 M	$1,387,591 M

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World share & rank

World export share moved from 2.5% in 1995 to 3.3% in 2024; export rank #11 → #4.

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World export and import share in percent, and world ranks, of South Korea per year.
Year	Export share (%)	Import share (%)	Export rank	Import rank
1995	2.55%	2.63%	#11	#12
1996	2.48%	2.78%	#11	#11
1997	2.50%	2.58%	#11	#11
1998	2.56%	1.67%	#11	#15
1999	2.69%	2.07%	#10	#14
2000	2.89%	2.45%	#9	#14
2001	2.68%	2.24%	#10	#14
2002	2.76%	2.29%	#10	#14
2003	2.88%	2.29%	#10	#13
2004	3.05%	2.37%	#9	#13
2005	2.95%	2.44%	#10	#13
2006	3.06%	2.53%	#9	#13
2007	2.99%	2.54%	#8	#13
2008	2.90%	2.65%	#8	#10
2009	3.24%	2.59%	#6	#11
2010	3.36%	2.80%	#6	#10
2011	3.30%	2.81%	#5	#10
2012	3.21%	2.80%	#5	#9
2013	3.22%	2.78%	#5	#9
2014	3.22%	2.84%	#5	#9
2015	3.46%	2.71%	#5	#9
2016	3.36%	2.61%	#5	#10
2017	3.51%	2.75%	#5	#9
2018	3.36%	2.78%	#5	#9
2019	3.19%	2.71%	#5	#9
2020	3.31%	2.71%	#5	#9
2021	3.27%	2.82%	#5	#9
2022	3.19%	2.93%	#5	#8
2023	2.85%	2.13%	#5	#13
2024	3.35%	2.73%	#4	#10

30 rows

Trading partners

China was South Korea's top trading partner in 2024, at 21.2% of total trade; the top five partners covered 52.9%.

Year

Top partner share: 21.2%
Top-5 share: 52.9%
Partners: 223
Partner HHI (0–1): 0.084

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China $155.2B

United States $134.6B

Vietnam $58.3B

Other Asia, nes $41.9B

Hong Kong $36.6B

Singapore $29.5B

Japan $28.7B

India $21.2B

Mexico $19.3B

Australia $16.6B

Germany $13.3B

Malaysia $11.9B

Indonesia $8.9B

Saudi Arabia $6.1B

United Arab Emirates $4.9B

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Top partners of South Korea in 2024, USD millions.
Rank	Partner	Exports to ($M)	Imports from ($M)	Total ($M)	Balance ($M)
#1	China	$155,165 M	$139,000 M	$294,165 M	$16,165 M
#2	United States	$134,581 M	$71,403 M	$205,984 M	$63,178 M
#3	Vietnam	$58,316 M	$28,444 M	$86,759 M	$29,872 M
#4	Japan	$28,734 M	$46,754 M	$75,488 M	−$18,021 M
#5	Other Asia, nes	$41,936 M	$29,788 M	$71,724 M	$12,148 M
#6	Australia	$16,643 M	$29,350 M	$45,993 M	−$12,708 M
#7	Singapore	$29,541 M	$10,822 M	$40,363 M	$18,720 M
#8	Hong Kong	$36,632 M	$2,623 M	$39,255 M	$34,008 M
#9	Saudi Arabia	$6,071 M	$31,476 M	$37,547 M	−$25,404 M
#10	Germany	$13,280 M	$21,720 M	$35,000 M	−$8,440 M
#11	India	$21,213 M	$6,868 M	$28,081 M	$14,345 M
#12	Mexico	$19,257 M	$7,374 M	$26,631 M	$11,883 M
#13	Malaysia	$11,851 M	$12,596 M	$24,447 M	−$744 M
#14	United Arab Emirates	$4,934 M	$17,931 M	$22,865 M	−$12,997 M
#15	Indonesia	$8,894 M	$12,608 M	$21,501 M	−$3,714 M

15 rows

Products & sectors

Product composition of South Korea's trade in 2024.

Year

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Concentration & risk

South Korea's export partners concentrated over 1995–2024 — HHI 0.080 → 0.091, a diversified export base across 218 partners in 2024.

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Export and import partner HHI (0–1) and partner counts of South Korea per year.
Year	Export HHI	Import HHI	Export partners	Import partners
1995	0.080	0.117	195	171
1996	0.069	0.104	198	182
1997	0.070	0.094	200	189
1998	0.064	0.098	202	178
1999	0.079	0.099	207	188
2000	0.086	0.091	217	213
2001	0.081	0.084	215	208
2002	0.082	0.086	215	209
2003	0.084	0.087	214	212
2004	0.085	0.087	218	213
2005	0.083	0.083	216	211
2006	0.081	0.079	214	215
2007	0.083	0.080	216	213
2008	0.076	0.076	216	215
2009	0.079	0.073	219	215
2010	0.085	0.075	215	215
2011	0.085	0.070	219	212
2012	0.081	0.065	218	218
2013	0.087	0.064	220	215
2014	0.088	0.065	216	218
2015	0.090	0.077	215	220
2016	0.088	0.082	215	221
2017	0.094	0.078	218	220
2018	0.107	0.076	217	221
2019	0.099	0.084	216	220
2020	0.104	0.091	218	222
2021	0.104	0.087	219	222
2022	0.090	0.078	220	221
2023	0.109	0.129	142	132
2024	0.091	0.083	218	222

30 rows

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