South Korea / Saudi Arabia

Overview In December 2022, South Korea exported $570M and imported $3.2B from Saudi Arabia, resulting in a negative trade balance of $2.63B. Between December 2021 and December 2022 the exports of South Korea have increased by $94.8M (19.9%) from $475M to $570M, while imports decreased by $-132M (-3.95%) from $3.33B to $3.2B.

Trade In December 2022, the top exports of South Korea to Saudi Arabia were Cars, tractors, trucks & parts thereof. ($157M), Weapons ($129M), Machinery, mechanical appliances, & parts ($66.8M), Electrical machinery and electronics ($63.8M), and Iron & steel ($21M). In December 2022 the top imports of South Korea from Saudi Arabia were Mineral fuels, mineral oils and products... ($3.09B), Inorganic chemicals ($43.4M), Organic chemicals ($22.3M), Copper articles ($15.1M), and Aluminum articles ($15.1M).

Growth In December 2022, the increase in South Korea's year-by-year exports to Saudi Arabia was explained primarily by an increase in product exports in Machinery, mechanical appliances, & parts ($21.3M or 57.1%), Iron & steel ($20.3M or 241%), and Organic chemicals ($14.9M or 376%). In December 2022, the decrease in South Korea's year-by-year imports  from Saudi Arabia was explained primarily by an decrease in product imports  in Plastics & articles thereof ($-2.89M or -35.5%), Aluminum articles ($-2.29M or -19.9%), and Electrical machinery and electronics ($-592k or -98.5%).