Japan (JPN) and South Korea (KOR) Trade | OEC - The Observatory of Economic Complexity

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Japan-South Korea In 2020, Japan exported $42.9B to South Korea. The main products that Japan exported to South Korea are Photo Lab Equipment ($2.74B), Integrated Circuits ($2.26B), and Machinery Having Individual Functions ($2.19B). During the last 25 years the exports of Japan to South Korea have increased at an annualized rate of 1.36%, from $30.6B in 1995 to $42.9B in 2020.

In 2009, Japan exported services to South Korea worth $8.05B, with Services not allocated ($3.91B), Transportation ($2.32B), and Travel ($1.64B) being the largest in terms of value.

South Korea-Japan In 2020, South Korea exported $25.1B to Japan. The main products that South Korea exported to Japan were Refined Petroleum ($2.75B), Silver ($945M), and Integrated Circuits ($728M). During the last 25 years the exports of South Korea to Japan have increased at an annualized rate of 1.5%, from $17.3B in 1995 to $25.1B in 2020.

In 2005, South Korea exported services to Japan worth $6.48B, with Transportation ($2.43B), Travel ($2.16B), and Other business services ($1.64B) being the largest in terms of value.

Comparison In 2020, Japan ranked 1 in the Economic Complexity Index (ECI 2.19), and 4 in total exports ($623B). That same year, South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B).

Latest Trends

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December, 2022

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Overview In December 2022, Japan exported ¥603B and imported ¥358B from South Korea, resulting in a positive trade balance of ¥245B. Between December 2021 and December 2022 the exports of Japan have increased by ¥50.1B (9.07%) from ¥553B to ¥603B, while imports increased by ¥14.1B (4.1%) from ¥344B to ¥358B.

Trade In December 2022, the top exports of Japan to South Korea were Machines and apparatus of a kind... (¥41.2B), Commodities not elsewhere specified (¥40.7B), Refined Petroleum (¥30.4B), Integrated Circuits (¥24.6B), and Hot-Rolled Iron (¥20.5B). In December 2022 the top imports of Japan from South Korea were Refined Petroleum (¥53.8B), Integrated Circuits (¥26.6B), Hot-Rolled Iron (¥12.1B), Silver (¥10.7B), and Commodities not elsewhere specified (¥9.64B).

Origins In December 2022 the exports of Japan were mainly from Chiba (¥143B), Fukuoka (¥86.2B), Osaka (¥72.5B), Yamaguchi (¥64.8B), and Kanagawa (¥42.5B), while imports destinations were mainly Tokyo (¥59.3B), Osaka (¥55.2B), Chiba (¥54B), Kanagawa (¥32.4B), and Aichi (¥28B).

Growth In December 2022, the increase in Japan's year-by-year exports to South Korea was explained primarily by an increase in product exports in Commodities not elsewhere specified (¥22.5B or 124%), Hot-Rolled Iron (¥11.8B or 135%), and Scrap Iron (¥7.79B or 107%). In December 2022, the increase in Japan's year-by-year imports from South Korea was explained primarily by an increase in product imports in Refined Petroleum (¥16.1B or 42.6%), Integrated Circuits (¥14B or 111%), and Hot-Rolled Iron (¥5.96B or 97.6%).

Latest Trade

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Flow

Time Scale

Depth

Value

EXPORT GROWTH (December 2021 - December 2022): ¥50.1B, (9.07%)

IMPORT GROWTH (December 2021 - December 2022): ¥14.1B, (4.1%)

MAIN EXPORTER (December 2022): Chiba, ¥143B

This section shows exports and imports data at subnational level for Japan. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Japan over time.

To check South Korea and Japan trade dynamics, check the bilateral page.

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Historical Data

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Bilateral Trade by Products

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Depth

Value

Year

In 2020, Japan exported $42.9B to South Korea. The main products exported from Japan to South Korea were Photo Lab Equipment ($2.74B), Integrated Circuits ($2.26B), and Machinery Having Individual Functions ($2.19B). During the last 25 years the exports of Japan to South Korea have increased at an annualized rate of 1.36%, from $30.6B in 1995 to $42.9B in 2020.

In 2020, South Korea exported $25.1B to Japan. The main products exported from South Korea to Japan were Refined Petroleum ($2.75B), Silver ($945M), and Integrated Circuits ($728M). During the last 25 years the exports of South Korea to Japan have increased at an annualized rate of 1.5%, from $17.3B in 1995 to $25.1B in 2020.

Market Competitiveness

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Measure

SectionYear

Japan
Top Destination: China, $133B

South Korea
Top Destination: China, $131B

This map shows whether countries import more from Japan or South Korea. Each country is colored based on the difference in imports they receive from Japan and South Korea or the difference in the growth in imports.

In 2019, countries that imported more from Japan than South Korea were United States ($112B), Chinese Taipei ($42.7B), and Thailand ($24.5B).

In 2019, countries that imported more from South Korea than Japan were Vietnam ($48B), Hong Kong ($30.9B), and Marshall Islands ($4.84B).

Comparative Advantage Japan - South Korea

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Flow

Scale

Year

This chart compares trade between Japan and South Korea by product, considering products traded by both, Japan and South Korea.

During 2020, Japan had a large net trade with South Korea in the exports of Machines ($13.8B), Chemical Products ($7.53B), and Instruments ($6.03B).

During 2020, South Korea had a large net trade with Japan in the exports of Machines ($6.68B), Metals ($4.03B), and Chemical Products ($3.2B).

Service Trade

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Bilateral Service Trade

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Kor YearJpn Year

In 2009, Japan exported services to South Korea worth $8.05B, with Services not allocated ($3.91B), Transportation ($2.32B), and Travel ($1.64B) being the largest in terms of value.

In 2005, South Korea exported services to Japan worth $6.48B, with Transportation ($2.43B), Travel ($2.16B), and Other business services ($1.64B) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Japan has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Japan.

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Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage Japan - South Korea

Service Trade

Bilateral Service Trade

Economic Complexity

Competitive Landscape

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