South Korea (KOR) and China (CHN) Trade | OEC - The Observatory of Economic Complexity

About

South Korea-China In 2020, South Korea exported $131B to China. The main products that South Korea exported to China are Integrated Circuits ($37.5B), Machinery Having Individual Functions ($5.78B), and Refined Petroleum ($5.62B). During the last 25 years the exports of South Korea to China have increased at an annualized rate of 11.1%, from $9.56B in 1995 to $131B in 2020.

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 In 2020, China exported $110B to South Korea. The main products that China exported to South Korea were Integrated Circuits ($16.3B), Broadcasting Equipment ($3.89B), and Computers ($3.86B). During the last 25 years the exports of China to South Korea have increased at an annualized rate of 11.4%, from $7.37B in 1995 to $110B in 2020.

In 2020, China did not export any services to South Korea.

Comparison In 2020, South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B). That same year, China ranked 28 in the Economic Complexity Index (ECI 0.96), and 1 in total exports ($2.65T).

Latest Trends

#

December, 2022

About

#

Overview In December 2022, South Korea exported $11.2B and imported $11.9B from China, resulting in a negative trade balance of $656M. Between December 2021 and December 2022 the exports of South Korea have decreased by $-4.09B (-26.7%) from $15.3B to $11.2B, while imports decreased by $-1.92B (-13.9%) from $13.8B to $11.9B.

Growth In December 2022, the decrease in South Korea's year-by-year exports to China was explained primarily by an decrease in product exports in Machinery, mechanical appliances, & parts ($-318M or -24.4%), Optical, photo, & film equipment; medical... ($-299M or -32.4%), and Mineral fuels, mineral oils and products... ($-260M or -38.7%). In December 2022, the decrease in South Korea's year-by-year imports from China was explained primarily by an decrease in product imports in Ships, boats, & floating structures ($-71.4M or -43.7%), Furniture, bedding, lamps, & prefab buildings ($-52.3M or -20.4%), and Precious stones, metals, & pearls ($-46.6M or -69.3%).

Latest Trade

#

Flow

Time Scale

Depth

Value

EXPORT GROWTH (December 2021 - December 2022): $-4.09B, (-26.7%)

IMPORT GROWTH (December 2021 - December 2022): $-1.92B, (-13.9%)

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

Go to Bulk Download

Historical Data

#

Bilateral Trade by Products

#

Depth

Value

Year

In 2020, South Korea exported $131B to China. The main products exported from South Korea to China were Integrated Circuits ($37.5B), Machinery Having Individual Functions ($5.78B), and Refined Petroleum ($5.62B). During the last 25 years the exports of South Korea to China have increased at an annualized rate of 11.1%, from $9.56B in 1995 to $131B in 2020.

In 2020, China exported $110B to South Korea. The main products exported from China to South Korea were Integrated Circuits ($16.3B), Broadcasting Equipment ($3.89B), and Computers ($3.86B). During the last 25 years the exports of China to South Korea have increased at an annualized rate of 11.4%, from $7.37B in 1995 to $110B in 2020.

Market Competitiveness

#

Measure

SectionYear

South Korea
Top Destination: China, $131B

China
Top Destination: United States, $438B

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 2019, countries that imported more from South Korea than China were Marshall Islands ($4.84B), Bermuda ($1.24B), and Malta ($2.02B).

In 2019, countries that imported more from China than South Korea were United States ($438B), Hong Kong ($262B), and Japan ($151B).

Comparative Advantage South Korea - China

#

Flow

Year

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

During 2020, South Korea had a large net trade with China in the exports of Machines ($71.2B), Chemical Products ($15.3B), and Instruments ($11.2B).

During 2020, China had a large net trade with South Korea in the exports of Machines ($53.5B), Metals ($9.91B), and Chemical Products ($8.66B).

Service Trade

#

Bilateral Service Trade

#

Kor Year

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.

Service trade data is presented based on availability.

Economic Complexity

#

Competitive Landscape

#

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 South Korea has comparative advantage over China. Similarly, the more yellow a dot/product is, the more China has comparative advantage over South Korea.

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage South Korea - China

Service Trade

Bilateral Service Trade

Economic Complexity

Competitive Landscape

Related Profiles