In 2024, South Korea's trade balance with the United States recorded a surplus that amounted to around ***** billion U.S. dollars. South Korea has become one of the United States’ largest trade partners. The Free Trade Agreement between the two governments came into force in March 2012. As of May 2025, South Korea seeks to delay a decision about tariffs until new presidential elections in June 2025. Korea’s export trade with the U.S. In 2024, the United States was the second most important export trade destination after China. In accordance with the high trade surplus recorded by South Korea, the value of goods exports to the U.S. continued to increase every year. Historically, China and the U.S. were the most important export partner for South Korea, with changes only happening due to domestic or bilateral politics. The effect of U.S. president Trump’s increase of tariffs on the economic relations between the two nations remains to be seen. Korea’s imports from the U.S. Despite the trade balance tipping in clear favor of South Korea, the United States was still one of the most important partners for imports. Overall, the value of goods imported into the country has increased, with a quick recovery from occasional decreases. Next to the imports of goods, the United States have become one of the most important suppliers of foreign direct investment (FDI) for South Korea. Despite this importance, the actual investments were notably lower than the pledged amount.

This statistic shows the trade balance of South Korea with Canada up to 2017, since the Free Trade Agreement came into force in 2015. In 2017, South Korea 's trade deficit with Canada amounted to about ****** million U.S. dollars.

This statistic shows the trade balance of South Korea with the EU up to 2017, since the Free Trade Agreement came into force in July 2011. In 2017, South Korea has been in a trade deficit about 3.23 billion U.S. dollars with the EU.

In 2024, South Korea's trade balance with China amounted to a deficit of about **** billion U.S. dollars. The Free Trade Agreement between the two governments came into force in December 2015.

This statistic shows the trade balance of South Korea with the EFTA states up to 2017, since the Free Trade Agreement came into force in September 2006. In 2017, South Korea's trade surplus with the EFTA states amounted to **** U.S. billion dollars.

This statistic shows the trade balance of South Korea with Chile up to 2017, since the Free Trade Agreement came into force in 2004. In 2017, South Korea has been in a trade deficit of about **** billion U.S. dollars with Chile.

This statistic shows the trade balance of South Korea with the ASEAN countries up to 2017, since the Free Trade Agreement came into force in June 2007. In 2017, South Korea's trade surplus amounted to about ***** billion U.S. dollars.

This statistic shows the trade balance of South Korea with Australia up to 2017, since the Free Trade Agreement came into force in December 2014. In 2017, South Korea has been in a trade surplus of about 0.73 billion U.S. dollars with Australia.

In 2023, electronics, computers, and components exports had the largest value amongst Vietnam's major commodities, at approximately 57.3 billion U.S. dollars. Meanwhile, phones and related components contributed around 52.4 billion U.S. dollars to total export earnings that year.

Vietnam – An export-driven country

Vietnam had greatly increased its volume and value of international trade since implementing economic reforms, or Đổi Mới in 1986. After Đổi Mới, Vietnam's trade balance recorded its first trade surplus in 2012 at around 750 million U.S. dollars. In 2019, Vietnam saw a negative growth rate of worldwide exports for the first time since 2010, with a total export value reaching over 361.93 billion U.S. dollars that year. The country’s main export partners include the United States, the European Union, China, Japan, and South Korea.

International trade agreements

In 2019, Vietnam signed several significant trade agreements such as the EU-Vietnam Free Trade Agreement (EVFTA), which led to the reduction of tariffs and customs duties for both Vietnam and the European Union, as well as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which not only gave Canada access to the Vietnamese market, but also facilitated the integration of Vietnam in the global value chain.

This statistic shows the trade balance of South Korea with Singapore up to 2018, since the Free Trade Agreement came into force in 2006. In 2018, South Korea's trade surplus with Singapore amounted to about **** billion U.S. dollars.

This statistic shows the trade balance of South Korea with New Zealand up to 2017, since the Free Trade Agreement came into force in *************. In 2017, South Korea's trade surplus with New Zealand amounted to ***** million U.S. dollars.

This statistic shows the trade balance of South Korea with India up to 2017, since the Comprehensive Economic Partnership Agreement came into force in 2010. In 2017, South Korea's trade surplus with India amounted to about ***** billion U.S. dollars.