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Korea, Rep. Trade Summary

2023

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. 2023

Overall Exports and Imports for Korea, Rep. 2023

Exports and imports of Korea, Rep. in 2023 are below, along with number of countries and products

  • The total value of exports (FoB) was 631,804 million.
  • The total value of imports (CIF) was 642,550 million.
  • At the HS6 digit level, 4,268 products were exported to 225 countries and 4,453 products were imported from 228 countries.

Korea, Rep. top 5 Export and Import partners 2023

Top five countries to which Korea, Rep. exported in 2023 are below, along with the percent of total exports that went to that country:

  1. Korea, Rep. exports to China worth US$ 124,656 million, with a partner share of 19.73 percent.
  2. Korea, Rep. exports to United States worth US$ 116,290 million, with a partner share of 18.41 percent.
  3. Korea, Rep. exports to Vietnam worth US$ 53,474 million, with a partner share of 8.46 percent.
  4. Korea, Rep. exports to Japan worth US$ 28,997 million, with a partner share of 4.59 percent.
  5. Korea, Rep. exports to Hong Kong, China worth US$ 25,193 million, with a partner share of 3.99 percent.

Top five countries from which Korea, Rep. imported goods in 2023 are below, along with percent of total imports that came from the country :

  1. Korea, Rep. imports from China worth US$ 142,854 million, with a partner share of 22.23 percent.
  2. Korea, Rep. imports from United States worth US$ 71,732 million, with a partner share of 11.16 percent.
  3. Korea, Rep. imports from Japan worth US$ 47,647 million, with a partner share of 7.42 percent.
  4. Korea, Rep. imports from Australia worth US$ 32,823 million, with a partner share of 5.11 percent.
  5. Korea, Rep. imports from Saudi Arabia worth US$ 32,763 million, with a partner share of 5.10 percent.

Korea, Rep. Top 5 Productsexports imports at HS 6 digit level 2023

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 85,809,142.00 (US$ Thousands).
  2. Korea, Rep. exported Petroleum oils, etc, (excl. crude); preparation , worth 50,890,325.18 (US$ Thousands).
  3. Korea, Rep. exported Automobiles nes including gas turbine powered , worth 24,208,179.45 (US$ Thousands).
  4. Korea, Rep. exported Transmission apparatus, for radioteleph incorpo , worth 21,184,017.00 (US$ Thousands).
  5. Korea, Rep. exported Automobiles with reciprocating piston engine di , worth 19,280,805.08 (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 86,158,418.65 (US$ Thousands).
  2. Korea, Rep. imported Monolithic integrated circuits, digital , worth 51,738,321.03 (US$ Thousands).
  3. Korea, Rep. imported Natural gas, liquefied , worth 36,048,868.66 (US$ Thousands).
  4. Korea, Rep. imported Petroleum oils, etc, (excl. crude); preparation , worth 22,926,029.09 (US$ Thousands).
  5. Korea, Rep. imported Bituminous coal, not agglomerated , worth 18,892,800.92 (US$ Thousands).

Exports and Imports of Product Groups 2023

Exports and imports of products by stages of processing in 2023 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2023

Tariffs imposed by Korea, Rep. in 2023 are below

  • The maximum rate of tariff in percentage on any product was 887.40 percent.
  • The simple average tariff across all products was 5.80 percent.
  • The trade weighted average tariff was 5.82 .
  • The total duty free imports in thousands of US dollars were 347,544,875 and duty free tariff line items share was 68.44 percent.

Development Indicators 2023

Key Development Indicators of Korea, Rep. in 2023 are below

  • Korea, Rep. GDP in current US dollar was 1,712,793 million.
  • GNI per capita, Atlas method (current US$) was 35,490.00 .
  • Korea, Rep. Trade balance: as % of GDP was 0.05.
  • Trade balance in current US$ was 885.00 million.
  • Trade as percentage of GDP was 87.94 .
  • Trade in services as percentage of GDP was 16.24 .

Trade Indicators 2023

Trade Indicators for Korea, Rep. in 2023 are below

  • Hirschman Herfindahl market concentration index was 0.09.
  • Index of export market penetration was 21.14.
  • World Growth in percentage was -3.13 and Korea, Rep. Country Growth was -5.47 .