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2022
Flag → Flag
Exports $139BRnk 1 / 220
2022
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Top Product $50.3BIntegrated Circuits
2022
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Exports $100BRnk 5 / 211
2022
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Top Product $23.3BIntegrated Circuits
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 1.12Rnk 22 / 133
2022
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GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$18TCURRENT US$
Rnk 2 / 186
2012-2022
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GDP GROWTH111%CURRENT US$
Rnk 11 / 186
2022
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GDP PC $32,255CURRENT US$
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2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$12,720CURRENT US$
Rnk 67 / 186
2012-2022
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GDP PC GROWTH102%CURRENT US$
Rnk 8 / 186

About

South Korea-China Trade: In 2022, South Korea exported $139B to China. The main products that South Korea exported to China were Integrated Circuits ($50.3B), Cyclic Hydrocarbons ($6.28B), and Broadcasting Equipment ($6.13B). Over the past 5 years the exports of South Korea to China have increased at an annualized rate of 70.8%, from $9.58B in 2017 to $139B in 2022.

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 2022, China exported $100B to South Korea. The main products that China exported to South Korea were Integrated Circuits ($23.3B), Broadcasting Equipment ($5.92B), and Electric Batteries ($5.52B). Over the past 5 years the exports of China to South Korea have increased at an annualized rate of 68.5%,  from $7.38B in 2017 to $100B in 2022.

In 2022, China did not export any services to South Korea.

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, China ranked 22 in the Economic Complexity Index (ECI 1.12), and 1 in total exports ($3.73T).

Latest Trends

May, 2024

About

Overview In May 2024, South Korea exported $11.4B and imported $12.3B from China, resulting in a negative trade balance of $917M. Between May 2023 and May 2024 the exports of South Korea have increased by $791M (7.48%) from $10.6B to $11.4B, while imports decreased by $-81.9M (-0.66%) from $12.4B to $12.3B.

Trade In May 2024, the top exports of South Korea to China were Electrical machinery and electronics ($4.05B), Organic chemicals ($855M), Plastics & articles thereof ($763M), Machinery, mechanical appliances, & parts ($586M), and Inorganic chemicals ($465M). In May 2024 the top imports of South Korea from China were Electrical machinery and electronics ($4.73B), Machinery, mechanical appliances, & parts ($1.5B), Inorganic chemicals ($1.41B), Iron & steel ($530M), and Organic chemicals ($436M).

Growth In May 2024, the increase in South Korea's year-by-year exports to China was explained primarily by an increase in product exports in Inorganic chemicals ($112M or 31.8%), Preparations of cereals, flour, starch or... ($6.35M or 30.2%), and Miscellaneous edible preparations ($4.46M or 28.7%). In May 2024, the decrease in South Korea's year-by-year imports  from China was explained primarily by an decrease in product imports  in Machinery, mechanical appliances, & parts ($-302M or -16.8%), Organic chemicals ($-142M or -24.6%), and Electrical machinery and electronics ($-116M or -2.39%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (May 2023 - May 2024)$791M(7.48%)
IMPORT GROWTH (May 2023 - May 2024)$-81.9M(-0.66%)

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 2022, South Korea exported $139B to China. The main products exported from South Korea to China were Integrated Circuits ($50.3B), Cyclic Hydrocarbons ($6.28B), and Broadcasting Equipment ($6.13B). During the last 5 years the exports of South Korea to China have increased at an annualized rate of 70.8%, from $9.58B in 2017 to $139B in 2022.

In 2017, China exported $100B to South Korea. The main products exported from China to South Korea were Integrated Circuits ($23.3B), Broadcasting Equipment ($5.92B), and Electric Batteries ($5.52B). During the last 22 years the exports of China to South Korea have increased at an annualized rate of 68.5%, from $7.38B in 1995 to $100B in 2017.

Exports from South Korea (Flag) to China (Flag) (2022)

Exports from China (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
China
Top DestinationUnited States$551B

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 2022, countries that imported more from South Korea than China included Mozambique ($4.59B), Guam ($469M), and Bermuda ($302M).

In 2022, countries that imported more from China than South Korea included United States ($551B), Hong Kong ($276B), and Japan ($178B).

Difference in imports from China (Flag) and South Korea (Flag) (2022)

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 2022, South Korea had a large net trade with China in the exports of Machines ($85B), Chemical Products ($20.2B), and Plastics and Rubbers ($12.9B).

During 2017, China had a large net trade with South Korea in the exports of Machines ($70.9B), Chemical Products ($17B), and Metals ($16.2B).

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) (2022)

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