Exports in South Korea increased to 59800 USD Million in June from 57270 USD Million in May of 2025. This dataset provides the latest reported value for - South Korea Exports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

South Korea recorded a trade surplus of 6940 USD Million in May of 2025. This dataset provides the latest reported value for - South Korea Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

Historical chart and dataset showing South Korea trade balance by year from 1960 to 2023.

In 2023, South Korea's exports and imports of goods and services as a share of the country's GDP stood at almost ** percent. This was down from about ** percent of GDP in the previous year. After the Korean War (1950-1953), South Korea developed into an export-oriented country, which was, among other things, an important factor for the country's economic growth. South Korea's share of imports and exports in its GDP is relatively high compared to other member countries of the Organization for Economic Cooperation and Development (OECD).

South Korea's total Exports in 2024 were valued at US$683.13 Billion, according to the United Nations COMTRADE database on international trade. South Korea's main export partners were: China, the United States and Vietnam. The top three export commodities were: Electrical, electronic equipment; Vehicles other than railway, tramway and Machinery, nuclear reactors, boilers. Total Imports were valued at US$631.73 Billion. In 2024, South Korea had a trade surplus of US$51.40 Billion.

Trade (% of GDP) in South Korea was reported at 87.94 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Trade (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

As of January 2025, South Korea had 22 Free Trade Agreements (FTAs) in effect with 59 countries. More are in the stage of negotiation and talks on conditions.

Korea Exports: CI: Music data was reported at 455,386.000 USD th in 2017. This records an increase from the previous number of 442,566.000 USD th for 2016. Korea Exports: CI: Music data is updated yearly, averaging 139,687.500 USD th from Dec 2004 (Median) to 2017, with 14 observations. The data reached an all-time high of 455,386.000 USD th in 2017 and a record low of 13,885.000 USD th in 2007. Korea Exports: CI: Music data remains active status in CEIC and is reported by Korea Creative Content Agency. The data is categorized under Global Database’s South Korea – Table KR.JA051: Trade Statistics: Contents Industry.

South Korea: Trade balance, billion USD: The latest value from 2023 is 8.43 billion U.S. dollars, an increase from 8.37 billion U.S. dollars in 2022. In comparison, the world average is 4.81 billion U.S. dollars, based on data from 148 countries. Historically, the average for South Korea from 1976 to 2023 is 21.35 billion U.S. dollars. The minimum value, -21.98 billion U.S. dollars, was reached in 1996 while the maximum of 105.65 billion U.S. dollars was recorded in 2015.

Exports: First 20 days: Taiwan data was reported at 897.000 USD mn in Jun 2018. This records an increase from the previous number of 805.000 USD mn for May 2018. Exports: First 20 days: Taiwan data is updated monthly, averaging 697.000 USD mn from Feb 2007 (Median) to Jun 2018, with 137 observations. The data reached an all-time high of 1.072 USD bn in Apr 2013 and a record low of 255.000 USD mn in Jan 2009. Exports: First 20 days: Taiwan data remains active status in CEIC and is reported by Ministry of Trade, Industry and Energy. The data is categorized under Global Database’s Korea – Table KR.JA002: Trade Statistics: First 20 days .

The statistic shows South Korea's trade balance of goods from 2013 to 2023. Trade balance is the value of exported goods minus the value of imported goods. A positive trade balance signifies a trade surplus, while a negative value signifies a trade deficit. In 2023, South Korea's trade deficit amounted to around ***** billion U.S. dollars.

Japan Exports to South Korea was US$46.38 Billion during 2024, according to the United Nations COMTRADE database on international trade. Japan Exports to South Korea - data, historical chart and statistics - was last updated on July of 2025.

This data package includes the underlying data to replicate the charts and calculations presented in Korea’s trade policy agenda in an uncertain US trade environment, PIIE Working Paper 24-19.

If you use the data, please cite as:

Wolff, Alan Wm., and Han-koo Yeo. 2024. Korea’s trade policy agenda in an uncertain US trade environment. PIIE Working Paper 24-19. Washington: Peterson Institute for International Economics.

Trade in services (% of GDP) in South Korea was reported at 16.24 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Trade in services (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Exports: First 20 days: YoY: Semiconductors data was reported at 20.300 % in Mar 2020. This records an increase from the previous number of 15.400 % for Feb 2020. Exports: First 20 days: YoY: Semiconductors data is updated monthly, averaging 12.400 % from Jul 2016 (Median) to Mar 2020, with 42 observations. The data reached an all-time high of 80.900 % in Sep 2017 and a record low of -39.800 % in Sep 2019. Exports: First 20 days: YoY: Semiconductors data remains active status in CEIC and is reported by Korea Customs Service. The data is categorized under Global Database’s South Korea – Table KR.JA004: Trade Statistics: First 20 days.

United States Imports from South Korea was US$135.46 Billion during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from South Korea - data, historical chart and statistics - was last updated on July of 2025.

Korea Exports: Latin America: Colombia data was reported at 67,313.000 USD th in Jun 2018. This records a decrease from the previous number of 105,103.000 USD th for May 2018. Korea Exports: Latin America: Colombia data is updated monthly, averaging 52,817.000 USD th from Jan 1993 (Median) to Jun 2018, with 306 observations. The data reached an all-time high of 206,856.000 USD th in Oct 2014 and a record low of 6,672.000 USD th in Feb 1999. Korea Exports: Latin America: Colombia data remains active status in CEIC and is reported by Korea Customs Service. The data is categorized under Global Database’s Korea – Table KR.JA004: Trade Statistics: Export: Value: By Country.

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.