South Korea (KOR) and Japan (JPN) Trade | OEC - The Observatory of Economic Complexity

About

South Korea-Japan In 2021, South Korea exported $30.1B to Japan. The main products that South Korea exported to Japan are Refined Petroleum ($4.48B), Silver ($1.34B), and Integrated Circuits ($1.2B). During the last 26 years the exports of South Korea to Japan have increased at an annualized rate of 2.16%, from $17.3B in 1995 to $30.1B in 2021.

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 In 2021, Japan exported $51.1B to South Korea. The main products that Japan exported to South Korea were Photo Lab Equipment ($3.95B), Integrated Circuits ($2.87B), and Machinery Having Individual Functions ($1.94B). During the last 26 years the exports of Japan to South Korea have increased at an annualized rate of 1.95%, from $30.9B in 1995 to $51.1B in 2021.

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 2021, South Korea ranked 4 in the Economic Complexity Index (ECI 1.82), and 5 in total exports ($653B). That same year, Japan ranked 1 in the Economic Complexity Index (ECI 2.06), and 4 in total exports ($731B).

Latest Trends

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February, 2023

About

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Overview In February 2023, South Korea exported $2.35B and imported $4.23B from Japan, resulting in a negative trade balance of $1.88B. Between February 2022 and February 2023 the exports of South Korea have decreased by $-135M (-5.43%) from $2.48B to $2.35B, while imports decreased by $-487M (-10.3%) from $4.71B to $4.23B.

Trade In February 2023, the top exports of South Korea to Japan were Mineral fuels, mineral oils and products... ($447M), Electrical machinery and electronics ($307M), Iron & steel ($295M), Machinery, mechanical appliances, & parts ($294M), and Plastics & articles thereof ($169M). In February 2023 the top imports of South Korea from Japan were Electrical machinery and electronics ($802M), Machinery, mechanical appliances, & parts ($707M), Iron & steel ($537M), Optical, photo, & film equipment; medical... ($296M), and Plastics & articles thereof ($262M).

Growth In February 2023, the decrease in South Korea's year-by-year exports to Japan was explained primarily by an decrease in product exports in Precious stones, metals, & pearls ($-52.3M or -37.5%), Preparations of vegetables, fruit, nuts or... ($-6.5M or -31.3%), and Cars, tractors, trucks & parts thereof. ($-4.4M or -9.74%). In February 2023, the decrease in South Korea's year-by-year imports from Japan was explained primarily by an decrease in product imports in Machinery, mechanical appliances, & parts ($-237M or -25.1%), Optical, photo, & film equipment; medical... ($-74.5M or -20.1%), and Chemical products n.e.s. ($-22.6M or -13.1%).

Latest Trade

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Flow

Time Scale

Depth

Value

EXPORT GROWTH (February 2022 - February 2023): $-135M, (-5.43%)

IMPORT GROWTH (February 2022 - February 2023): $-487M, (-10.3%)

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.

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Historical Data

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Bilateral Trade by Products

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Depth

Value

Year

In 2021, South Korea exported $30.1B to Japan. The main products exported from South Korea to Japan were Refined Petroleum ($4.48B), Silver ($1.34B), and Integrated Circuits ($1.2B). During the last 26 years the exports of South Korea to Japan have increased at an annualized rate of 2.16%, from $17.3B in 1995 to $30.1B in 2021.

In 2021, Japan exported $51.1B to South Korea. The main products exported from Japan to South Korea were Photo Lab Equipment ($3.95B), Integrated Circuits ($2.87B), and Machinery Having Individual Functions ($1.94B). During the last 26 years the exports of Japan to South Korea have increased at an annualized rate of 1.95%, from $30.9B in 1995 to $51.1B in 2021.

Market Competitiveness

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Color

SectionYear

South Korea
Top Destination: China, $158B

Japan
Top Destination: China, $153B

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 2021, countries that imported more from South Korea than Japan were Vietnam ($56.5B), Hong Kong ($38.2B), and China ($158B).

In 2021, countries that imported more from Japan than South Korea were United States ($128B), Chinese Taipei ($52.5B), and Thailand ($31.2B).

Comparative Advantage South Korea - Japan

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Flow

Scale

Year

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

During 2021, South Korea had a large net trade with Japan in the exports of Machines ($7.26B), Metals ($5.08B), and Mineral Products ($5.01B).

During 2021, Japan had a large net trade with South Korea in the exports of Machines ($14.7B), Chemical Products ($8.5B), and Metals ($8.31B).

Service Trade

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Bilateral Service Trade

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Jpn YearKor Year

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.

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.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage South Korea - Japan

Service Trade

Bilateral Service Trade

Economic Complexity

Competitive Landscape

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