[1] Primary trade source
OECD Bilateral International Merchandise Trade Statistics, harmonised by Yugalinks at country-year, HS2 and bilateral-corridor levels. Coverage shown here is 1995–2024 where observations are available.
Country intelligence · KOR · 2024
Republic of Korea trade profile
In 2024, Republic of Korea recorded $719.1B in merchandise exports and $602.8B in imports, producing a $116.4B trade surplus. Exports changed +9.0% from the previous year, while imports changed -2.0%.[1]
Exports
$719.1B
+9.0%
Imports
$602.8B
-2.0%
Trade balance
$116.4B
surplus
Active partners
270
58 FTA-linked
Historical evidence
Ten-year trade movement
The bars compare exports and imports on the same scale. The accompanying table preserves the exact values so the trend is usable without interpreting a graphic.
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
ExportsImports
Exact annual values
Leading export sectors
HS2 chapters rank broad product groups by observed export value in 2024.
1$240.4B
HS 85 · Electrical machinery
262 active HS6 lines · 193 export partners
2$92.3B
HS 87 · Vehicles
87 active HS6 lines · 194 export partners
3$83.7B
HS 84 · Machinery
515 active HS6 lines · 195 export partners
4$53.5B
HS 27 · Mineral fuels and oils
43 active HS6 lines · 174 export partners
5$36.0B
HS 39 · HS chapter
129 active HS6 lines · 190 export partners
6$24.8B
HS 89 · HS chapter
18 active HS6 lines · 108 export partners
7$24.6B
HS 72 · HS chapter
167 active HS6 lines · 161 export partners
8$22.5B
HS 29 · Organic chemicals
369 active HS6 lines · 165 export partners
Leading export markets
Destinations rank bilateral export flows from Republic of Korea; growth describes each corridor rather than the whole economy.
1$165.3B
China
Annual change +11.2% · 3-year CAGR -5.9%
2$124.5B
United States
Annual change +10.4% · 3-year CAGR 10.6%
3$61.2B
Vietnam
Annual change +17.1% · 3-year CAGR 3.2%
4$39.8B
Taiwan
Annual change +55.1% · 3-year CAGR 11.6%
5$30.1B
Japan
Annual change +2.7% · 3-year CAGR -0.8%
6$23.0B
Singapore
Annual change +6.7% · 3-year CAGR 8.5%
7$20.0B
Mexico
Annual change +16.0% · 3-year CAGR 6.4%
8$19.2B
India
Annual change +6.4% · 3-year CAGR 6.8%
Sources, definitions and limitations
Calculation notes
USD values are aggregated from reported merchandise records. YoY compares consecutive annual totals; three-year CAGR is the mart-provided compound annual growth rate. Missing values are not inferred.