United States-South Korea Trade: In 2022, United States exported $47.4B to South Korea. The main products that United States exported to South Korea were Crude Petroleum ($13.2B), Petroleum Gas ($8.3B), and Machinery Having Individual Functions ($5.83B). Over the past 5 years the exports of United States to South Korea have increased at an annualized rate of 12.8%, from $26B in 2017 to $47.4B in 2022.
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.
South Korea-United States Trade: In 2022, South Korea exported $69.8B to United States. The main products that South Korea exported to United States were Cars ($22.5B), Office Machine Parts ($7.16B), and Motor vehicles; parts and accessories (8701 to 8705) ($6.84B). Over the past 5 years the exports of South Korea to United States have increased at an annualized rate of 23.2%, from $24.6B in 2017 to $69.8B in 2022.
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.
Comparison: In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).
Company data: In 2023, leading companies such as LG Electronics (46.9k), Samsung (20.7k), and Hankook Tires (4.38k) were at the forefront of exporting goods from South Korea to the United States. Conversely, Lg Electronics Inc (39.6k), Samsung Electronics Co., Ltd (18.5k), and Other (6.59k) were notable for importing products to South Korea from the United States.