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

About

South Korea-Japan In 2020, South Korea exported $25.1B to Japan. The main products that South Korea exported to Japan are Refined Petroleum ($2.75B), Silver ($945M), and Integrated Circuits ($728M). During the last 25 years the exports of South Korea to Japan have increased at an annualized rate of 1.5%, from $17.3B in 1995 to $25.1B in 2020.

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 2020, Japan exported $42.9B to South Korea . The main products that Japan exported to South Korea were Photo Lab Equipment ($2.74B), Integrated Circuits ($2.26B), and Machinery Having Individual Functions ($2.19B). During the last 25 years the exports of Japan to South Korea have increased at an annualized rate of 1.36%, from $30.6B in 1995 to $42.9B in 2020.

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 2020, South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B). That same year, Japan ranked 1 in the Economic Complexity Index (ECI 2.19), and 4 in total exports ($623B).

Latest Trends

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April, 2022

About

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Overview In April 2022 South Korea exported $2.64B and imported $4.89B from Japan, resulting in a negative trade balance of $2.25B. Between April 2021 and April 2022 the exports of South Korea have increased by $181M (7.35%) from $2.46B to $2.64B, while imports increased by $57.3M (1.19%) from $4.83B to $4.89B.

Trade In April 2022, the top exports of South Korea to Japan were Mineral fuels, mineral oils and products... ($556M), Electrical machinery and equipment and parts... ($307M), Nuclear reactors, boilers, machinery and mechanical... ($249M), Iron and steel ($246M), and Organic chemicals ($169M). In April 2022 the top imports of South Korea from Japan were Nuclear reactors, boilers, machinery and mechanical... ($976M), Iron and steel ($697M), Electrical machinery and equipment and parts... ($671M), Optical, photographic, cinematographic, measuring, checking, medical... ($336M), and Plastics and articles thereof ($303M).

Growth In April 2022, the increase in South Korea's year-by-year exports to Japan was explained primarily by an increase in product exports in Iron and steel ($50M or 24%), Precious metals, gems and jewelry ($29M or 26.3%), and Essential oils and resinoids; perfumery, cosmetic... ($18.2M or 45.6%). In April 2022, the increase in South Korea's year-by-year imports from Japan was explained primarily by an increase in product imports in Nuclear reactors, boilers, machinery and mechanical... ($387M or 69.6%), Electrical machinery and equipment and parts... ($183M or 33%), and Optical, photographic, cinematographic, measuring, checking, medical... ($148M or 66.6%).

Latest Trade

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Time Scale

Flow

Depth

Value

EXPORT GROWTH (April 2021 - April 2022): $181M, (7.35%)

IMPORT GROWTH (April 2021 - April 2022): $57.3M, (1.19%)

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

Compare to

Year

In 2020, South Korea exported $25.1B to Japan. The main products exported from South Korea to Japan were Refined Petroleum ($2.75B), Silver ($945M), and Integrated Circuits ($728M). During the last 25 years the exports of South Korea to Japan have increased at an annualized rate of 1.5%, from $17.3B in 1995 to $25.1B in 2020.

In 2020, Japan exported $42.9B to South Korea. The main products exported from Japan to South Korea were Photo Lab Equipment ($2.74B), Integrated Circuits ($2.26B), and Machinery Having Individual Functions ($2.19B). During the last 25 years the exports of Japan to South Korea have increased at an annualized rate of 1.36%, from $30.6B in 1995 to $42.9B in 2020.

Market Competitiveness

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Measure

SectionYear

South Korea
Top Destination: China, $131B

Japan
Top Destination: China, $133B

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 2019, countries that imported more from South Korea than Japan were Vietnam ($48B), Hong Kong ($30.9B), and Marshall Islands ($4.84B).

In 2019, countries that imported more from Japan than South Korea were United States ($112B), Chinese Taipei ($42.7B), and Thailand ($24.5B).

Comparative Advantage South Korea - Japan

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Flow

Year

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

During 2020, South Korea had a large net trade with Japan in the exports of Machines ($6.68B), Metals ($4.03B), and Chemical Products ($3.2B).

During 2020, Japan had a large net trade with South Korea in the exports of Machines ($13.8B), Chemical Products ($7.53B), and Instruments ($6.03B).

Tariff Section

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Tariffs

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This section shows import tariffs for products traded between South Korea and Japan (using the HS6 product classification and the last year reported).

In 2018, the products from South Korea that paid the highest import tariffs to enter Japan were Cereals: fonio (Digitaria spp.) (800%) and Cereals: quinoa (Chenopodium quinoa) (800%).

In 2019, the products from Japan that paid the highest import tariffs to enter South Korea were Vermouth and other flavoured grape wines - pack < 2l (1.19M%) and Wine; still, in containers holding more than 2 litres but not more than 10 litres (765k%).

*The tariffs present between South Korea and Japan are:
136: Most Favoured Nation duty rate treatement

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

Tariff Section

Tariffs

Service Trade

Bilateral Service Trade

Economic Complexity

Competitive Landscape

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