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 Exports to United States was US$128.37 Billion during 2024, according to the United Nations COMTRADE database on international trade. South Korea Exports to United States - data, historical chart and statistics - was last updated on December of 2025.

The timeline shows the total value of U.S. trade in goods (export and import) with South Korea from 2000 to 2023. In 2023, the total value of U.S. trade in goods with South Korea amounted to *** billion U.S. dollars; composed of exports worth ** billion U.S. dollars and imports of *** billion U.S. dollars.

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 December of 2025.

United States Exports to North Korea was US$1.53 Million during 2024, according to the United Nations COMTRADE database on international trade. United States Exports to North Korea - data, historical chart and statistics - was last updated on November of 2025.

South Korea: Trade balance, billion USD: The latest value from 2024 is 76.43 billion U.S. dollars, an increase from 10.83 billion U.S. dollars in 2023. In comparison, the world average is 4.90 billion U.S. dollars, based on data from 109 countries. Historically, the average for South Korea from 1976 to 2024 is 22.52 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.

This graph shows the growth in the U.S. import volume of trade goods from South Korea from 1985 to 2023. In 2023, U.S. imports from South Korea amounted to approximately 116.23 billion U.S. dollars, marking a significant increase compared to the previous year.

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.

As of March 2025, South Korea's trade balance with North Korea was **** U.S. dollars. Trade between South and North Korea drastically declined after the closure of the Kaesong Industrial Complex in 2016, a joint inter-Korean economic project.

United States Exports to South Korea was US$65.54 Billion during 2024, according to the United Nations COMTRADE database on international trade. United States Exports to South Korea - data, historical chart and statistics - was last updated on December of 2025.

South Korea Exports: Volume: USA: Articles of Iron or Steel data was reported at 140,678.700 Ton th in Mar 2025. This records an increase from the previous number of 127,241.900 Ton th for Feb 2025. South Korea Exports: Volume: USA: Articles of Iron or Steel data is updated monthly, averaging 98,926.900 Ton th from Jan 2000 (Median) to Mar 2025, with 303 observations. The data reached an all-time high of 303,539.200 Ton th in Nov 2014 and a record low of 26,334.100 Ton th in Aug 2009. South Korea Exports: Volume: USA: Articles of Iron or Steel 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.JA010: Trade Statistics: Export: Volume: HS Code: 2 Digits: Top 20 Countries.

South Korea Exports: Volume: USA: Products of Animal Origin data was reported at 0.000 Ton th in Mar 2025. This records a decrease from the previous number of 0.600 Ton th for Feb 2025. South Korea Exports: Volume: USA: Products of Animal Origin data is updated monthly, averaging 1.200 Ton th from Jan 2000 (Median) to Mar 2025, with 303 observations. The data reached an all-time high of 288.100 Ton th in Mar 2004 and a record low of 0.000 Ton th in Mar 2025. South Korea Exports: Volume: USA: Products of Animal Origin 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.JA010: Trade Statistics: Export: Volume: HS Code: 2 Digits: Top 20 Countries.

Korea Exports: USA: Machinery and Transport Equipment (MTE) data was reported at 4.330 USD bn in Jun 2018. This records an increase from the previous number of 4.165 USD bn for May 2018. Korea Exports: USA: Machinery and Transport Equipment (MTE) data is updated monthly, averaging 2.299 USD bn from Jan 1991 (Median) to Jun 2018, with 330 observations. The data reached an all-time high of 4.890 USD bn in Mar 2016 and a record low of 519.414 USD mn in Jan 1991. Korea Exports: USA: Machinery and Transport Equipment (MTE) data remains active status in CEIC and is reported by Korea International Trade Association. The data is categorized under Global Database’s Korea – Table KR.JA007: Trade Statistics: Export: Value: SITC Classification: USA and Japan.

Korea Imports: USA: Misc Mfg Articles: Scientific and Control Instrument data was reported at 318.285 USD mn in Jun 2018. This records an increase from the previous number of 293.688 USD mn for May 2018. Korea Imports: USA: Misc Mfg Articles: Scientific and Control Instrument data is updated monthly, averaging 113.460 USD mn from Jan 1977 (Median) to Jun 2018, with 498 observations. The data reached an all-time high of 382.483 USD mn in Apr 2018 and a record low of 6.166 USD mn in Jan 1977. Korea Imports: USA: Misc Mfg Articles: Scientific and Control Instrument data remains active status in CEIC and is reported by Korea International Trade Association. The data is categorized under Global Database’s Korea – Table KR.JA015: Trade Statistics: Import: Value: SITC Classification: USA and Japan.

This data package includes the underlying data and programs to replicate the calculations, regressions, charts, and tables presented in Collateral benefits? South Korean exports to the United States and the US-China trade war, PIIE Policy Brief 21-18.

If you use the data, please cite as: Lovely, Mary E., David Xu, and Yinhan Zhang. 2021. Collateral benefits? South Korean exports to the United States and the US-China trade war. PIIE Policy Brief 21-18. Washington: Peterson Institute for International Economics.

Korea Imports: First 20 days: USA data was reported at 3.450 USD bn in Jun 2018. This records an increase from the previous number of 3.062 USD bn for May 2018. Korea Imports: First 20 days: USA data is updated monthly, averaging 2.358 USD bn from Feb 2007 (Median) to Jun 2018, with 137 observations. The data reached an all-time high of 3.450 USD bn in Jun 2018 and a record low of 1.196 USD bn in Jan 2009. Korea Imports: First 20 days: USA 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 .

South Korea recorded a trade surplus of 9740 USD Million in November 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.

Korea Exports: USA: FLA: Misc Edible Products data was reported at 22.574 USD mn in Jun 2018. This records a decrease from the previous number of 24.819 USD mn for May 2018. Korea Exports: USA: FLA: Misc Edible Products data is updated monthly, averaging 7.783 USD mn from Jan 1991 (Median) to Jun 2018, with 330 observations. The data reached an all-time high of 26.883 USD mn in Nov 2017 and a record low of 1.401 USD mn in Jan 1991. Korea Exports: USA: FLA: Misc Edible Products data remains active status in CEIC and is reported by Korea International Trade Association. The data is categorized under Global Database’s Korea – Table KR.JA007: Trade Statistics: Export: Value: SITC Classification: USA and Japan.

The statistic shows South Korea's trade balance of goods from 2014 to 2024. 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 2024, South Korea's trade deficit amounted to around ***** billion 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 *********. In 2017, South Korea has been in a trade deficit about **** billion U.S. dollars with the EU.