South Korea / Iceland

Overview In February 2024, South Korea exported $3.52M and imported $2.07M from Iceland, resulting in a positive trade balance of $1.45M. Between February 2023 and February 2024 the exports of South Korea have decreased by $-1.5M (-30%) from $5.02M to $3.52M, while imports increased by $249k (13.7%) from $1.82M to $2.07M.

Trade In February 2024, the top exports of South Korea to Iceland were Cars, tractors, trucks & parts thereof. ($5.49M), Rubber & articles thereof ($221k), Wadding, felt, nonwovens, twin, ropes, &... ($142k), Used clothes & textile articles ($106k), and Plastics & articles thereof ($8k). In February 2024 the top imports of South Korea from Iceland were Preparations of fish, crustacenas, & molluscs ($1.19M), Fish, crustaceans, & molluscs ($360k), Aluminum articles ($72k), Optical, photo, & film equipment; medical... ($55k), and Machinery, mechanical appliances, & parts ($42k).

Growth In February 2024, the decrease in South Korea's year-by-year exports to Iceland was explained primarily by an decrease in product exports in Electrical machinery and electronics ($-1.53M or -99.9%), Machinery, mechanical appliances, & parts ($-27k or -100%), and Tools & cutlery ($-15k or -83.3%). In February 2024, the increase in South Korea's year-by-year imports  from Iceland was explained primarily by an increase in product imports  in Preparations of fish, crustacenas, & molluscs ($146k or 14%), Precious stones, metals, & pearls ($13k or 1.3k%), and Chemical products n.e.s. ($7k or 233%).