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2023
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Exports $162BRnk 1 / 142
2023
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Top Product $65.6BIntegrated Circuits
2023
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Exports $147BRnk 5 / 208
2023
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Top Product $17.8BIntegrated Circuits
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 1.16Rnk 21 / 132
2023
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GDP$1.71TCURRENT US$
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2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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 GDP$17.8TCURRENT US$
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2013-2023
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GDP GROWTH85.9%CURRENT US$
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2023
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GDP PC $33,121CURRENT US$
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2013-2023
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GDP PC GROWTH21.9%CURRENT US$
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2023
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GDP PC$12,614CURRENT US$
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2013-2023
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GDP PC GROWTH79.7%CURRENT US$
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About

South Korea-China Trade: In 2023, South Korea exported $162B to China. The main products that South Korea exported to China were Integrated Circuits ($65.6B), Broadcasting Accessories ($6.89B), and Broadcasting Equipment ($5.68B). Over the past 5 years the exports of South Korea to China have decreased at an annualized rate of 1.84%, from $177B in 2018 to $162B in 2023.

In 2005, South Korea exported services to China worth $5.46B, with Transportation ($4.09B), Travel ($783M), and Other business services ($274M) being the largest in terms of value.

China-South Korea Trade: In 2023, China exported $147B to South Korea. The main products that China exported to South Korea were Integrated Circuits ($17.8B), Electric Batteries ($7.97B), and Inorganic Salts ($5.74B). Over the past 5 years the exports of China to South Korea have increased at an annualized rate of 6.56%,  from $107B in 2018 to $147B in 2023.

In 2023, China did not export any services to South Korea.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, China ranked 21 in the Economic Complexity Index (ECI 1.16), and 1 in total exports ($3.42T).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $11.8B and imported $12.4B from China, resulting in a negative trade balance of $593M. Between December 2023 and December 2024 the exports of South Korea have increased by $940M (8.66%) from $10.8B to $11.8B, while imports increased by $1.5B (13.8%) from $10.9B to $12.4B.

Trade In December 2024, the top exports of South Korea to China were Electrical machinery and electronics ($4.94B), Machinery, mechanical appliances, & parts ($861M), Organic chemicals ($840M), Plastics & articles thereof ($818M), and Optical, photo, & film equipment; medical... ($402M). In December 2024 the top imports of South Korea from China were Electrical machinery and electronics ($4.18B), Machinery, mechanical appliances, & parts ($1.61B), Inorganic chemicals ($808M), Iron & steel ($545M), and Plastics & articles thereof ($455M).

Growth In December 2024, the increase in South Korea's year-by-year exports to China was explained primarily by an increase in product exports in Electrical machinery and electronics ($886M or 21.9%), Machinery, mechanical appliances, & parts ($275M or 47%), and Ships, boats, & floating structures ($166M or 16.6M%). In December 2024, the increase in South Korea's year-by-year imports  from China was explained primarily by an increase in product imports  in Machinery, mechanical appliances, & parts ($112M or 7.52%), Cars, tractors, trucks & parts thereof. ($59.8M or 24.2%), and Plastics & articles thereof ($59.8M or 15.1%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$940M(8.66%)
IMPORT GROWTH (December 2023 - December 2024)$1.5B(13.8%)

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

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

For full datasets download visit Bulk Download page.

Explore China and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $162B to China. The main products exported from South Korea to China were Integrated Circuits ($65.6B), Broadcasting Accessories ($6.89B), and Broadcasting Equipment ($5.68B). During the last 5 years the exports of South Korea to China have decreased at an annualized rate of 1.84%, from $177B in 2018 to $162B in 2023.

In 2018, China exported $147B to South Korea. The main products exported from China to South Korea were Integrated Circuits ($17.8B), Electric Batteries ($7.97B), and Inorganic Salts ($5.74B). During the last 5 years the exports of China to South Korea have increased at an annualized rate of 6.56%, from $107B in 2023 to $147B in 2018.

Exports from South Korea (Flag) to China (Flag) (2023)

Exports from China (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
China
Top DestinationUnited States$436B

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

In 2023, no countries were registered that imported more from South Korea than from China.

In 2023, countries that imported more from China than South Korea included United States ($436B), Hong Kong ($259B), and Germany ($164B).

Difference in imports from China (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - China

Flow
Scale

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

During 2023, South Korea had a large net trade with China in the exports of Machines ($103B), Chemical Products ($21.5B), and Plastics and Rubbers ($11B).

During 2018, China had a large net trade with South Korea in the exports of Machines ($60.9B), Chemical Products ($21.9B), and Metals ($15.2B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea China+$1.46BRefined Petroleum
Top Product Potential China South Korea+$2.16BTelephones

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and China. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over China. Similarly, a dot/product with the flag of China indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and China (Flag) (2023)

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