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Korea, Rep. Trade Summary

2020

Korea, Rep. exports, imports, tariff by year.

Country and Region
Year
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Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.

Imports/Exports


Products

TRADE SUMMARY FOR KOREA, REP. 2020

Overall Exports and Imports for Korea, Rep. 2020

Exports and imports of Korea, Rep. in 2020 are below, along with number of countries and products

  • The total value of exports (FoB) was 512,419 million.
  • The total value of imports (CIF) was 467,591 million.
  • At the HS6 digit level, 4,294 products were exported to 225 countries and 4,465 products were imported from 230 countries.

Korea, Rep. top 5 Export and Import partners 2020

Top five countries to which Korea, Rep. exported in 2020 are below, along with the percent of total exports that went to that country:

  1. Korea, Rep. exports to China worth US$ 132,565 million, with a partner share of 25.87 percent.
  2. Korea, Rep. exports to United States worth US$ 74,353 million, with a partner share of 14.51 percent.
  3. Korea, Rep. exports to Vietnam worth US$ 48,511 million, with a partner share of 9.47 percent.
  4. Korea, Rep. exports to Hong Kong, China worth US$ 30,624 million, with a partner share of 5.98 percent.
  5. Korea, Rep. exports to Japan worth US$ 25,098 million, with a partner share of 4.90 percent.

Top five countries from which Korea, Rep. imported goods in 2020 are below, along with percent of total imports that came from the country :

  1. Korea, Rep. imports from China worth US$ 108,884 million, with a partner share of 23.29 percent.
  2. Korea, Rep. imports from United States worth US$ 57,780 million, with a partner share of 12.36 percent.
  3. Korea, Rep. imports from Japan worth US$ 46,023 million, with a partner share of 9.84 percent.
  4. Korea, Rep. imports from Germany worth US$ 20,676 million, with a partner share of 4.42 percent.
  5. Korea, Rep. imports from Vietnam worth US$ 20,579 million, with a partner share of 4.40 percent.

Korea, Rep. Top 5 Productsexports imports at HS 6 digit level 2020

The top five exported HS 6 digit level products to world by Korea, Rep. along with trade value are:

  1. Korea, Rep. exported Monolithic integrated circuits, digital , worth 82,629,670.09 (US$ Thousands).
  2. Korea, Rep. exported Petroleum oils, etc, (excl. crude); preparation , worth 23,212,082.04 (US$ Thousands).
  3. Korea, Rep. exported Automobiles with reciprocating piston engine di , worth 15,348,326.59 (US$ Thousands).
  4. Korea, Rep. exported Parts and accessories of automatic data process , worth 13,917,414.71 (US$ Thousands).
  5. Korea, Rep. exported Parts of electrical apparatus for line telephon , worth 12,834,702.62 (US$ Thousands).

The top five imported HS 6 digit level products from world by Korea, Rep. along with trade value are

  1. Korea, Rep. imported Petroleum oils and oils obtained from bituminou , worth 44,455,595.82 (US$ Thousands).
  2. Korea, Rep. imported Monolithic integrated circuits, digital , worth 40,314,135.74 (US$ Thousands).
  3. Korea, Rep. imported Natural gas, liquefied , worth 15,716,276.20 (US$ Thousands).
  4. Korea, Rep. imported Petroleum oils, etc, (excl. crude); preparation , worth 12,743,220.40 (US$ Thousands).
  5. Korea, Rep. imported Apparatus and equipment for photographic (incl , worth 10,352,372.41 (US$ Thousands).

Exports and Imports of Product Groups 2020

Exports and imports of products by stages of processing in 2020 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2020

Tariffs imposed by Korea, Rep. in 2020 are below

  • The maximum rate of tariff in percentage on any product was 887.40 percent.
  • The simple average tariff across all products was 5.29 percent.
  • The trade weighted average tariff was 5.48 .
  • The total duty free imports in thousands of US dollars were 253,958,875.21 and duty free tariff line items share was 69.63 percent.

Development Indicators 2020

Key Development Indicators of Korea, Rep. in 2020 are below

  • Korea, Rep. GDP in current US dollar was 1,644,313 million.
  • GNI per capita, Atlas method (current US$) was 33,040.00 .
  • Korea, Rep. Trade balance: as % of GDP was 3.69.
  • Trade balance in current US$ was 60,595.00 million.
  • Trade as percentage of GDP was 69.03 .
  • Trade in services as percentage of GDP was 11.79 .

Trade Indicators 2020

Trade Indicators for Korea, Rep. in 2020 are below

  • Hirschman Herfindahl market concentration index was 0.12.
  • Index of export market penetration was 21.36.
  • World Growth in percentage was -3.77 and Korea, Rep. Country Growth was -1.55 .