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Country import demand

Republic of Korea
import demand

A reported view of Republic of Korea's import scale, sector demand, supplier breadth, economy, and trade history.

Explore import sectors Open country workspace
KOR1995-2024 coverage270 active partner marketsMacro trend resilient
Latest imports$602.8B2024 reported
Import growth-2%Year on year
Population51.8MReported population
GDP per capita$36.2KCurrent-dollar GDP
Trade openness81.8%Exports + imports / GDP

The country import read

What does Republic of Korea import?

In 2024, Republic of Korea recorded $602.8B in reported imports. Imports changed -2% year on year and +0.6% annualized over three years. Electrical machinery was the largest displayed import sector.

Import history

A long view of demand

Latest twelve years from the reported country series.

Reported imports by year

2013
$516.2B
2014
$520.7B
2015
$437.3B
2016
$409.5B
2017
$474.4B
2018
$521.5B
2019
$493.9B
2020
$454.8B
2021
$592.8B
2022
$692.4B
2023
$615.4B
2024
$602.8B

Demand drivers

The economy behind import demand

Macro and structural indicators add context to reported imports.

GDP$1.9T2024 macro context
GDP growth1.4%Five-year CAGR
Population growth-0%Five-year CAGR
Investment rate32.1%National rate
Savings rate33.9%National rate
Trade openness81.8%Exports + imports / GDP

Import portfolio

The sectors shaping demand

All returned HS2 sectors ranked by latest import value.

Import demand by HS2All returned · 2024
Leading import sectors for Republic of Korea
RankSectorImportsShareImport partnersActive HS6
1Electrical machineryHS2 85$118.3B19.6%181262
2VehiclesHS2 87$19.7B3.3%14587
3MachineryHS2 84$64.1B10.6%166515
4Mineral fuelsHS2 27$148.4B24.6%11443
5PlasticsHS2 39$12.5B2.1%144129
6Ships and boatsHS2 89$2.9B0.5%7418
7Iron and steelHS2 72$13.8B2.3%105167
8Organic chemicalsHS2 29$13.5B2.2%124369
9Optical and medical instrumentsHS2 90$21.4B3.5%156142
10Pharmaceutical productsHS2 30$8.8B1.5%12743

Import values are reported observations. Full rows remain in the downloads.

Supply diversification

Where import exposure is spread

Partner breadth, concentration, access, and distance add supplier context.

Supplier markets270Reported partner count
Partner concentration1,005.4Partner HHI
Top 3 partner share48.8%Reported concentration
FTA partner markets58Reported count
Average distance9,523 kmCalculated average
Macro resilienceMacro trend resilientCountry context
Complete country valuesOpen the full import evidenceFull profile, history, and HS2 sector fields remain available here and in the downloads.

Profile fields

Year2,024
Country Iso3KOR
Exports Usd$719.1B
Imports Usd$602.8B
Trade Balance Usd$116.4B
Yoy Exports Growth Pct9%
Yoy Imports Growth Pct-2%
Exports Cagr 3y Pct2.4%
Imports Cagr 3y Pct0.6%
Export Partner Hhi1,005.4
Export Product Hhi224.3
Momentum Score7
Risk Score6.1
Gdp Million Usd1,875,388.2 million USD
Gdp Per Capita Usd$36.2K
Population51,751,065
Labor Force28,233
Investment Rate Pct32.1%
Savings Rate Pct33.9%
Secondary Education Pct97.7%
Tertiary Education Pct60.3%
Total Factor Productivity1,485.6
Trade Openness Pct81.8%
Exports Gdp Pct44.5%
Num Active Partners270
Num Fta Partners58
Num Wto Partners169
Num Eu Partners28
Num Shared Border Partners1%
Num Shared Language Partners1%
Avg Partner Distance Km9,523 km
Avg Partner Gdp Million Usd533,678,518.3 million USD
Avg Partner Gdp Per Capita Usd$15.8
Avg Buyer Biz Entry DaysNot reported
Avg Buyer Biz Entry Cost PctNot reported
Pct Partners With Fta21
Pct Partners Shared Language0.4%
Pct Partners Shared Border0.4%
Avg Applied Tariff Pct0.1%
Avg Mfn Tariff Pct0.1%
Avg Preferential Tariff Pct0%
Tariff Advantage Pp0.1
Avg Distance All Partners Km9,624 km
Num Border Partners20
Num Colonial Partners25
Avg Substitution Elasticity-10.8
Pct Products High Elasticity75.7
Pct Products Low Elasticity2.7
Real Market Potential193,723.9
Foreign Market Potential21,832.5

Supplier context

Country Iso3KOR
All History Lane Count58,437
Current Lane Count51,174
Critical Lane Count673
High Attention Lane Count11,215
High Volatility Lane Count29,816
Unrecovered Drawdown Lane Count28,923
Declining Demand Lane Count265
Concentrated Market Lane Count24,774
Access Friction Lane Count8,533
Buyer Macro Weakness Lane Count4,513
Monitored Exports Current Usd$708.9B
Attention Exports Usd$349.1B
Critical Exports Usd$44.2B
High Volatility Exports Usd$388.7B
Unrecovered Drawdown Exports Usd$124.9B
Non Fta Exports Usd$153.2B
Monitored Attention Share Pct49.2%
Monitored Critical Share Pct6.2%
Fta Covered Exports Share Pct78.2%
Export Weighted Volatility Cv1.2
Export Weighted Below Peak Pct23.1%
Export Weighted Distance Km5,696 km
Export Weighted Tariff Pct0.1%
Latest Data Year2,024
First Data Year1,995
Country Years Count30
Total Exports Latest Usd$719.1B
Total Imports Latest Usd$602.8B
Trade Balance Latest Usd$116.4B
Exports Yoy Latest Pct9%
Exports Cagr 3y Latest Pct2.4%
Gdp Latest Million Usd1,875,388.2 million USD
Gdp Per Capita Latest Usd$36.2K
Population Latest51,751,065
Investment Rate Latest Pct32.1%
Savings Rate Latest Pct33.9%
Trade Openness Latest Pct81.8%
Exports Gdp Latest Pct44.5%
Active Partners Latest270
Fta Partners Latest58
Foreign Market Potential Latest21,832.5
Gdp 5y Cagr Pct1.4%
Gdp Per Capita 5y Cagr Pct1.4%
Population 5y Cagr Pct-0%
Partner Hhi Latest1,005.4
Partner Top1 Share Latest Pct23%
Partner Top3 Share Latest Pct48.8%
Partner Hhi All Avg957.3
Partner Hhi All Max1,269.1
Product Hhi Latest224.3
Product Top1 Share Latest Pct9.9%
Product Top3 Share Latest Pct20.9%
Product Hhi All Avg170.3
Product Hhi All Max247.8
Total Exports Attention Share Pct48.5%
Total Exports Critical Share Pct6.2%
Attention LevelWatch
Primary Risk DriverHigh trade volatility
Macro Resilience LabelMacro trend resilient

Annual import history

YearImportsExportsBalanceImports YoY
1995$124.2B$123.6B-$632.3M+0%
1996$136.3B$129.5B-$6.8B+9.7%
1997$130.5B$134.4B$3.9B-4.3%
1998$82.8B$131.2B$48.3B-36.5%
1999$112.4B$144.5B$32.1B+35.7%
2000$154.0B$175.6B$21.6B+37%
2001$135.3B$156.0B$20.6B-12.1%
2002$150.2B$167.5B$17.2B+11%
2003$178.2B$201.8B$23.7B+18.6%
2004$221.3B$262.5B$41.2B+24.2%
2005$254.9B$292.3B$37.4B+15.2%
2006$298.7B$338.9B$40.1B+17.2%
2007$339.3B$383.2B$43.9B+13.6%
2008$420.9B$430.4B$9.5B+24%
2009$316.3B$370.6B$54.4B-24.9%
2010$411.7B$472.5B$60.9B+30.2%
2011$509.0B$555.2B$46.2B+23.7%
2012$512.9B$556.5B$43.6B+0.8%
2013$516.2B$568.3B$52.1B+0.6%
2014$520.7B$585.7B$65.0B+0.9%
2015$437.3B$533.8B$96.5B-16%
2016$409.5B$508.0B$98.6B-6.4%
2017$474.4B$584.6B$110.2B+15.8%
2018$521.5B$611.0B$89.5B+9.9%
2019$493.9B$559.4B$65.6B-5.3%
2020$454.8B$538.0B$83.2B-7.9%
2021$592.8B$670.2B$77.5B+30.3%
2022$692.4B$724.0B$31.6B+16.8%
2023$615.4B$659.8B$44.4B-11.1%
2024$602.8B$719.1B$116.4B-2%

Import sectors

RankHS2SectorImportsShareImport partnersActive HS6
185Electrical machinery$118.3B19.6%181262
287Vehicles$19.7B3.3%14587
384Machinery$64.1B10.6%166515
427Mineral fuels$148.4B24.6%11443
539Plastics$12.5B2.1%144129
689Ships and boats$2.9B0.5%7418
772Iron and steel$13.8B2.3%105167
829Organic chemicals$13.5B2.2%124369
990Optical and medical instruments$21.4B3.5%156142
1030Pharmaceutical products$8.8B1.5%12743

Questions about this profile

Republic of Korea import demand, in context

Short answers for import and supplier research.

What does the Republic of Korea import profile measure?

It combines reported imports, annual history, HS2 sectors, supplier breadth, economy context, and calculated indicators for Republic of Korea.

What is the latest reported import value for Republic of Korea?

Republic of Korea recorded $602.8B in reported imports in 2024.

Which sectors lead Republic of Korea's imports?

Electrical machinery leads by reported import value at $118.3B.

How many years of Republic of Korea import history are available?

This profile contains 30 annual rows covering 1995 through 2024.

What drives import demand?

GDP, population, investment, savings, and trade openness provide demand context.

Are the growth and concentration values forecasts?

No. They are calculated or classified from reported observations, not forecasts or guarantees.

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Data source

OECD trade statistics with CEPII context

OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-29). OECD BIMTS is the primary trade series for this view. Supporting bilateral trade context uses CEPII BACI bilateral trade flows (202601) under Etalab 2.0 Open Licence. Yugalinks presents derived views of reported observations and calculated indicators. Data terms: OECD Terms & Conditions.