South Korea / Vietnam

Overview In January 2023, South Korea exported $3.8B and imported $2.42B from Vietnam, resulting in a positive trade balance of $1.38B. Between January 2022 and January 2023 the exports of South Korea have decreased by $-1.52B (-28.6%) from $5.31B to $3.8B, while imports increased by $106M (4.6%) from $2.31B to $2.42B.

Trade In January 2023, the top exports of South Korea to Vietnam were Electrical machinery and electronics ($1.94B), Electrical machinery and equipment and parts... ($1.35B), Plastics & articles thereof ($415M), Machinery, mechanical appliances, & parts ($269M), and Cars, tractors, trucks & parts thereof. ($141M). In January 2023 the top imports of South Korea from Vietnam were Electrical machinery and equipment and parts... ($419M), Electrical machinery and electronics ($413M), Machinery, mechanical appliances, & parts ($361M), Non-knitted clothing accesories ($157M), and Knitted clothing accesories ($113M).

Growth In January 2023, the decrease in South Korea's year-by-year exports to Vietnam was explained primarily by an decrease in product exports in Electrical machinery and electronics ($-838M or -30.1%), Optical, photo, & film equipment; medical... ($-106M or -45.9%), and Aluminum articles ($-21M or -32.4%). In January 2023, the increase in South Korea's year-by-year imports  from Vietnam was explained primarily by an increase in product imports  in Machinery, mechanical appliances, & parts ($48.6M or 15.6%), Fertilizers ($33.2M or 2.86k%), and Iron & steel ($32.4M or 162%).