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2023
Flag → Flag
Exports $28.4BRnk 4 / 142
2023
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Top Product $5.34BRefined Petroleum
2023
Flag → Flag
Exports $42.7BRnk 4 / 211
2023
Flag → Flag
Top Product $4.17BMachinery Having Individual Functions
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 2.07Rnk 1 / 132
2023
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GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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 GDP$4.2TCURRENT US$
Rnk 4 / 195
2013-2023
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GDP GROWTH-19.3%CURRENT US$
Rnk 190 / 195
2023
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GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$33,767CURRENT US$
Rnk 38 / 196
2013-2023
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GDP PC GROWTH-17.4%CURRENT US$
Rnk 176 / 195

About

South Korea-Japan Trade: In 2023, South Korea exported $28.4B to Japan. The main products that South Korea exported to Japan were Refined Petroleum ($5.34B), Integrated Circuits ($1.61B), and Hot-Rolled Iron ($921M). Over the past 5 years the exports of South Korea to Japan have decreased at an annualized rate of 1.38%, from $30.5B in 2018 to $28.4B in 2023.

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.

Japan-South Korea Trade: In 2023, Japan exported $42.7B to South Korea. The main products that Japan exported to South Korea were Machinery Having Individual Functions ($4.17B), Integrated Circuits ($3.43B), and Refined Petroleum ($2.32B). Over the past 5 years the exports of Japan to South Korea have decreased at an annualized rate of 4.48%,  from $53.7B in 2018 to $42.7B in 2023.

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.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Japan ranked 1 in the Economic Complexity Index (ECI 2.07), and 4 in total exports ($766B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $2.64B and imported $4.48B from Japan, resulting in a negative trade balance of $1.84B. Between December 2023 and December 2024 the exports of South Korea have increased by $149M (5.97%) from $2.49B to $2.64B, while imports increased by $557M (14.2%) from $3.92B to $4.48B.

Trade In December 2024, the top exports of South Korea to Japan were Mineral fuels, mineral oils and products... ($656M), Electrical machinery and electronics ($292M), Iron & steel ($272M), Machinery, mechanical appliances, & parts ($262M), and Plastics & articles thereof ($138M). In December 2024 the top imports of South Korea from Japan were Electrical machinery and electronics ($895M), Machinery, mechanical appliances, & parts ($684M), Iron & steel ($379M), Optical, photo, & film equipment; medical... ($237M), and Plastics & articles thereof ($225M).

Growth In December 2024, the increase in South Korea's year-by-year exports to Japan was explained primarily by an increase in product exports in Mineral fuels, mineral oils and products... ($225M or 52.3%), Perfumery & cosmetics ($17.3M or 31.7%), and Precious stones, metals, & pearls ($9.08M or 12.2%). In December 2024, the increase in South Korea's year-by-year imports  from Japan was explained primarily by an increase in product imports  in Machinery, mechanical appliances, & parts ($62.1M or 9.98%), Mineral fuels, mineral oils and products... ($61.4M or 54.9%), and Plastics & articles thereof ($47M or 26.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$149M(5.97%)
IMPORT GROWTH (December 2023 - December 2024)$557M(14.2%)

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

For full datasets download visit Bulk Download page.

Explore Japan and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $28.4B to Japan. The main products exported from South Korea to Japan were Refined Petroleum ($5.34B), Integrated Circuits ($1.61B), and Hot-Rolled Iron ($921M). During the last 5 years the exports of South Korea to Japan have decreased at an annualized rate of 1.38%, from $30.5B in 2018 to $28.4B in 2023.

In 2018, Japan exported $42.7B to South Korea. The main products exported from Japan to South Korea were Machinery Having Individual Functions ($4.17B), Integrated Circuits ($3.43B), and Refined Petroleum ($2.32B). During the last 5 years the exports of Japan to South Korea have decreased at an annualized rate of 4.48%, from $53.7B in 2023 to $42.7B in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Japan
Top DestinationUnited States$143B

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

In 2023, countries that imported more from South Korea than Japan included China ($162B), Hungary ($8.05B), and Slovakia ($6.45B).

In 2023, countries that imported more from Japan than South Korea included United States ($143B), Thailand ($29.6B), and Vietnam ($16B).

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

Comparative Advantage South Korea - Japan

Flow
Scale

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

During 2023, South Korea had a large net trade with Japan in the exports of Machines ($7.58B), Mineral Products ($5.81B), and Metals ($4.69B).

During 2018, Japan had a large net trade with South Korea in the exports of Machines ($15.2B), Metals ($7.14B), and Chemical Products ($6.71B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Japan+$607MIntegrated Circuits
Top Product Potential Japan South Korea+$531MIntegrated Circuits

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 Japan. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Japan. Similarly, a dot/product with the flag of Japan indicates it has a comparative advantage over South Korea.

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

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