South Korea / Somalia

Overview In December 2024, South Korea exported $626k and imported $154k from Somalia, resulting in a positive trade balance of $472k. Between December 2023 and December 2024 the exports of South Korea have decreased by $-736k (-54%) from $1.36M to $626k, while imports increased by $82k (114%) from $72k to $154k.

Trade In December 2024, the top exports of South Korea to Somalia were Cars, tractors, trucks & parts thereof. ($444k), Electrical machinery and electronics ($143k), Plastics & articles thereof ($104k), Machinery, mechanical appliances, & parts ($88k), and Oils seeds, oleaginous fruits, grains, straw... ($5k). In December 2024 the top imports of South Korea from Somalia were Perfumery & cosmetics ($25k), Fish, Crustaceans & Molluscs ($4k), Oils seeds, oleaginous fruits, grains, straw... ($0), Ores, slag and ash ($0), and Pharmaceutical products ($0).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Somalia was explained primarily by an decrease in product exports in Plastics & articles thereof ($-185k or -64%), Chemical products n.e.s. ($-151k or -99.3%), and Machinery, mechanical appliances, & parts ($-102k or -53.7%). In December 2024, the increase in South Korea's year-by-year imports  from Somalia was explained primarily by an increase in product imports  in .