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Korea, Rep. Trade Summary

2021

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. 2021

Overall Exports and Imports for Korea, Rep. 2021

Exports and imports of Korea, Rep. in 2021 are below, along with number of countries and products

  • The total value of exports (FoB) was 644,373 million.
  • The total value of imports (CIF) was 615,073 million.
  • At the HS6 digit level, 4,293 products were exported to 224 countries and 4,482 products were imported from 231 countries.

Korea, Rep. top 5 Export and Import partners 2021

Top five countries to which Korea, Rep. exported in 2021 are below, along with the percent of total exports that went to that country:

  1. Korea, Rep. exports to China worth US$ 162,913 million, with a partner share of 25.28 percent.
  2. Korea, Rep. exports to United States worth US$ 96,299 million, with a partner share of 14.94 percent.
  3. Korea, Rep. exports to Vietnam worth US$ 56,729 million, with a partner share of 8.80 percent.
  4. Korea, Rep. exports to Hong Kong, China worth US$ 37,465 million, with a partner share of 5.81 percent.
  5. Korea, Rep. exports to Japan worth US$ 30,062 million, with a partner share of 4.67 percent.

Top five countries from which Korea, Rep. imported goods in 2021 are below, along with percent of total imports that came from the country :

  1. Korea, Rep. imports from China worth US$ 138,627 million, with a partner share of 22.54 percent.
  2. Korea, Rep. imports from United States worth US$ 73,659 million, with a partner share of 11.98 percent.
  3. Korea, Rep. imports from Japan worth US$ 54,641 million, with a partner share of 8.88 percent.
  4. Korea, Rep. imports from Australia worth US$ 32,916 million, with a partner share of 5.35 percent.
  5. Korea, Rep. imports from Saudi Arabia worth US$ 24,271 million, with a partner share of 3.95 percent.

Korea, Rep. Top 5 Productsexports imports at HS 6 digit level 2021

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 108,933,833.10 (US$ Thousands).
  2. Korea, Rep. exported Petroleum oils, etc, (excl. crude); preparation , worth 37,019,892.07 (US$ Thousands).
  3. Korea, Rep. exported Automobiles with reciprocating piston engine di , worth 16,415,829.86 (US$ Thousands).
  4. Korea, Rep. exported Parts and accessories of automatic data process , worth 16,000,186.62 (US$ Thousands).
  5. Korea, Rep. exported Parts of electrical apparatus for line telephon , worth 15,965,292.97 (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 67,012,528.18 (US$ Thousands).
  2. Korea, Rep. imported Monolithic integrated circuits, digital , worth 50,319,734.18 (US$ Thousands).
  3. Korea, Rep. imported Natural gas, liquefied , worth 25,452,783.23 (US$ Thousands).
  4. Korea, Rep. imported Petroleum oils, etc, (excl. crude); preparation , worth 23,543,964.40 (US$ Thousands).
  5. Korea, Rep. imported Apparatus and equipment for photographic (incl , worth 16,404,465.82 (US$ Thousands).

Exports and Imports of Product Groups 2021

Exports and imports of products by stages of processing in 2021 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2021

Tariffs imposed by Korea, Rep. in 2021 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 percent.
  • The trade weighted average tariff was 4.85 .
  • The total duty free imports in thousands of US dollars were 306,767,908.68 and duty free tariff line items share was 73.99 percent.

Development Indicators 2021

Key Development Indicators of Korea, Rep. in 2021 are below

  • Korea, Rep. GDP in current US dollar was 1,810,956 million.
  • GNI per capita, Atlas method (current US$) was 35,110.00 .
  • Korea, Rep. Trade balance: as % of GDP was 3.58.
  • Trade balance in current US$ was 64,808.00 million.
  • Trade as percentage of GDP was 80.49 .
  • Trade in services as percentage of GDP was 13.54 .

Trade Indicators 2021

Trade Indicators for Korea, Rep. in 2021 are below

  • Hirschman Herfindahl market concentration index was 0.12.
  • Index of export market penetration was 21.83.
  • World Growth in percentage was 12.50 and Korea, Rep. Country Growth was 12.66 .