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2023
Flag → Flag
Exports $118BRnk 2 / 142
2023
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Top Product $31.3BCars
2023
Flag → Flag
Exports $61.3BRnk 8 / 220
2023
Flag → Flag
Top Product $12.1BCrude Petroleum
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 1.5Rnk 10 / 132
2023
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GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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 GDP$27.7TCURRENT US$
Rnk 1 / 195
2013-2023
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GDP GROWTH64.2%CURRENT US$
Rnk 44 / 195
2023
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GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$82,769CURRENT US$
Rnk 9 / 196
2013-2023
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GDP PC GROWTH55%CURRENT US$
Rnk 40 / 195

About

South Korea-United States Trade: In 2023, South Korea exported $118B to United States. The main products that South Korea exported to United States were Cars ($31.3B), Motor vehicles; parts and accessories (8701 to 8705) ($6.17B), and Refined Petroleum ($4.63B). Over the past 5 years the exports of South Korea to United States have increased at an annualized rate of 9.55%, from $74.7B in 2018 to $118B in 2023.

In 2005, South Korea exported services to United States worth $11.3B, with Transportation ($5.54B), Other business services ($3.23B), and Government services, n.i.e. ($855M) being the largest in terms of value.

United States-South Korea Trade: In 2023, United States exported $61.3B to South Korea. The main products that United States exported to South Korea were Crude Petroleum ($12.1B), Machinery Having Individual Functions ($4.61B), and Petroleum Gas ($4.2B). Over the past 5 years the exports of United States to South Korea have increased at an annualized rate of 1.13%,  from $58B in 2018 to $61.3B in 2023.

In 2017, United States exported services to South Korea worth $24.3B, with Travel ($8.34B), Royalties and license fees ($5.77B), and Transportation ($4.01B) being the largest in terms of value.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T).

Latest Trends

January, 2025

About

Overview In January 2025, South Korea exported $9.28B and imported $5.81B from United States, resulting in a positive trade balance of $3.47B. Between January 2024 and January 2025 the exports of South Korea have decreased by $-939M (-9.19%) from $10.2B to $9.28B, while imports decreased by $-318M (-5.19%) from $6.13B to $5.81B.

Trade In January 2025, the top exports of South Korea to United States were Cars, tractors, trucks & parts thereof. ($3.87B), Machinery, mechanical appliances, & parts ($2.09B), Electrical machinery and electronics ($1.35B), Mineral fuels, mineral oils and products... ($445M), and Plastics & articles thereof ($333M). In January 2025 the top imports of South Korea from United States were Mineral fuels, mineral oils and products... ($2.04B), Machinery, mechanical appliances, & parts ($838M), Electrical machinery and electronics ($475M), Optical, photo, & film equipment; medical... ($409M), and Meat & edible offal ($369M).

Growth In January 2025, the decrease in South Korea's year-by-year exports to United States was explained primarily by an decrease in product exports in Inorganic chemicals ($-164M or -73.2%), Electrical machinery and electronics ($-75.3M or -5.28%), and Art & antiques ($-40.9M or -84.9%). In January 2025, the decrease in South Korea's year-by-year imports  from United States was explained primarily by an decrease in product imports  in Mineral fuels, mineral oils and products... ($-622M or -23.4%), Pharmaceutical products ($-118M or -42.1%), and Optical, photo, & film equipment; medical... ($-76.8M or -15.8%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (January 2024 - January 2025)$-939M(-9.19%)
IMPORT GROWTH (January 2024 - January 2025)$-318M(-5.19%)

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 United States and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore United States and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $118B to United States. The main products exported from South Korea to United States were Cars ($31.3B), Motor vehicles; parts and accessories (8701 to 8705) ($6.17B), and Refined Petroleum ($4.63B). During the last 5 years the exports of South Korea to United States have increased at an annualized rate of 9.55%, from $74.7B in 2018 to $118B in 2023.

In 2018, United States exported $61.3B to South Korea. The main products exported from United States to South Korea were Crude Petroleum ($12.1B), Machinery Having Individual Functions ($4.61B), and Petroleum Gas ($4.2B). During the last 5 years the exports of United States to South Korea have increased at an annualized rate of 1.13%, from $58B in 2023 to $61.3B in 2018.

Exports from South Korea (Flag) to United States (Flag) (2023)

Exports from United States (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
United States
Top DestinationCanada$269B

This map shows whether countries import more from South Korea or United States. Each country is colored based on the difference in imports they receive from South Korea and United States or the difference in the growth in imports.

In 2023, countries that imported more from South Korea than United States included China ($162B), Hungary ($8.05B), and Slovakia ($6.45B).

In 2023, countries that imported more from United States than South Korea included Canada ($269B), Mexico ($243B), and Germany ($94.8B).

Difference in imports from United States (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - United States

Flow
Scale

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

During 2023, South Korea had a large net trade with United States in the exports of Machines ($40.8B), Transportation ($39B), and Chemical Products ($10.4B).

During 2018, United States had a large net trade with South Korea in the exports of Mineral Products ($17.6B), Machines ($13.2B), and Chemical Products ($7.13B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea United States+$1.13BIntegrated Circuits
Top Product Potential United States South Korea+$707MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and United States. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over United States. Similarly, a dot/product with the flag of United States indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and United States (Flag) (2023)

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