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Korea, Rep. Trade Summary

2022

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. 2022

Overall Exports and Imports for Korea, Rep. 2022

Exports and imports of Korea, Rep. in 2022 are below, along with number of countries and products

  • The total value of exports (FoB) was 683,551 million.
  • The total value of imports (CIF) was 731,361 million.
  • At the HS6 digit level, 4,257 products were exported to 225 countries and 4,457 products were imported from 230 countries.

Korea, Rep. top 5 Export and Import partners 2022

Top five countries to which Korea, Rep. exported in 2022 are below, along with the percent of total exports that went to that country:

  1. Korea, Rep. exports to China worth US$ 155,789 million, with a partner share of 22.79 percent.
  2. Korea, Rep. exports to United States worth US$ 110,171 million, with a partner share of 16.12 percent.
  3. Korea, Rep. exports to Vietnam worth US$ 60,964 million, with a partner share of 8.92 percent.
  4. Korea, Rep. exports to Japan worth US$ 30,606 million, with a partner share of 4.48 percent.
  5. Korea, Rep. exports to Hong Kong, China worth US$ 27,650 million, with a partner share of 4.05 percent.

Top five countries from which Korea, Rep. imported goods in 2022 are below, along with percent of total imports that came from the country :

  1. Korea, Rep. imports from China worth US$ 154,576 million, with a partner share of 21.14 percent.
  2. Korea, Rep. imports from United States worth US$ 82,134 million, with a partner share of 11.23 percent.
  3. Korea, Rep. imports from Japan worth US$ 54,712 million, with a partner share of 7.48 percent.
  4. Korea, Rep. imports from Australia worth US$ 44,929 million, with a partner share of 6.14 percent.
  5. Korea, Rep. imports from Saudi Arabia worth US$ 41,640 million, with a partner share of 5.69 percent.

Korea, Rep. Top 5 Productsexports imports at HS 6 digit level 2022

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 112,407,099.04 (US$ Thousands).
  2. Korea, Rep. exported Petroleum oils, etc, (excl. crude); preparation , worth 61,560,257.46 (US$ Thousands).
  3. Korea, Rep. exported Transmission apparatus, for radioteleph incorpo , worth 24,942,280.18 (US$ Thousands).
  4. Korea, Rep. exported Automobiles with reciprocating piston engine di , worth 17,491,799.38 (US$ Thousands).
  5. Korea, Rep. exported Automobiles nes including gas turbine powered , worth 16,082,477.45 (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 105,963,515.69 (US$ Thousands).
  2. Korea, Rep. imported Monolithic integrated circuits, digital , worth 62,349,978.23 (US$ Thousands).
  3. Korea, Rep. imported Natural gas, liquefied , worth 50,022,187.60 (US$ Thousands).
  4. Korea, Rep. imported Petroleum oils, etc, (excl. crude); preparation , worth 26,325,116.16 (US$ Thousands).
  5. Korea, Rep. imported Bituminous coal, not agglomerated , worth 26,230,598.69 (US$ Thousands).

Exports and Imports of Product Groups 2022

Exports and imports of products by stages of processing in 2022 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2022

Tariffs imposed by Korea, Rep. in 2022 are below

  • The maximum rate of tariff in percentage on any product was 887.40 percent.
  • The simple average tariff across all products was 11.26 percent.
  • The trade weighted average tariff was 8.88 .
  • The total duty free imports in thousands of US dollars were 232,693,424.42 and duty free tariff line items share was 23.68 percent.

Development Indicators 2022

Key Development Indicators of Korea, Rep. in 2022 are below

  • Korea, Rep. GDP in current US dollar was 1,665,246 million.
  • GNI per capita, Atlas method (current US$) was 35,990.00 .
  • Korea, Rep. Trade balance: as % of GDP was -0.27.
  • Trade balance in current US$ was -4,496.00 million.
  • Trade as percentage of GDP was 96.78 .
  • Trade in services as percentage of GDP was 15.97 .

Trade Indicators 2022

Trade Indicators for Korea, Rep. in 2022 are below

  • Hirschman Herfindahl market concentration index was 0.10.
  • Index of export market penetration was 20.72.
  • World Growth in percentage was 5.18 and Korea, Rep. Country Growth was 3.62 .