Overview In January 2023, South Korea exported $476M and imported $792M from Russia, resulting in a negative trade balance of $315M. Between January 2022 and January 2023 the exports of South Korea have decreased by $-337M (-41.4%) from $814M to $476M, while imports decreased by $-1.22B (-60.6%) from $2.01B to $792M.
Trade In January 2023, the top exports of South Korea to Russia were Cars, tractors, trucks & parts thereof. ($325M), Machinery, mechanical appliances, & parts ($132M), Plastics & articles thereof ($77.5M), Electrical machinery and electronics ($59.5M), and Iron & steel ($32.7M). In January 2023 the top imports of South Korea from Russia were Mineral fuels, mineral oils and products... ($1.67B), Fish, crustaceans, & molluscs ($109M), Iron & steel ($67.5M), Aluminum articles ($65.4M), and Wood, wood articles, & charcoal ($18M).
Growth In January 2023, the decrease in South Korea's year-by-year exports to Russia was explained primarily by an decrease in product exports in Aircraft and spacecraft ($-35.6M or -100%), Furniture, bedding, lamps, & prefab buildings ($-9.03M or -98.4%), and Soap, cleaners, candles, dental, modelling pastes ($-940k or -45%). In January 2023, the decrease in South Korea's year-by-year imports from Russia was explained primarily by an decrease in product imports in Precious stones, metals, & pearls ($-35.5M or -100%), Cereals ($-22.3M or -83.8%), and Ships, boats, & floating structures ($-1.94M or -97%).