Integrated Circuits in South Korea 2020 Exports | Imports : $89.1B | $38.6B, World Rnk 3 / 222 Rnk 1 / 1207 | World Rnk 5 / 223 Rnk 2 / 1211
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $3.61B | $1.99B, China | Chinese Taipei
2020 ECONOMIC COMPLEXITY of South Korea: 1.88, Rnk 5 / 127
2020 PRODUCT COMPLEXITY IN Integrated Circuits: 1.41, Rnk 75 / 1029
Exports In 2020, South Korea exported $89.1B in Integrated Circuits, making it the 3rd largest exporter of Integrated Circuits in the world. At the same year, Integrated Circuits was the 1st most exported product in South Korea. The main destination of Integrated Circuits exports from South Korea are: China ($37.5B), Hong Kong ($18.4B), Vietnam ($10.5B), Chinese Taipei ($6.9B), and Singapore ($3.61B).
The fastest growing export markets for Integrated Circuits of South Korea between 2019 and 2020 were China ($3.61B), Chinese Taipei ($2.1B), and Singapore ($735M).
Imports In 2020, South Korea imported $38.6B in Integrated Circuits, becoming the 5th largest importer of Integrated Circuits in the world. At the same year, Integrated Circuits was the 2nd most imported product in South Korea. South Korea imports Integrated Circuits primarily from: China ($16.3B), Chinese Taipei ($9.71B), United States ($2.94B), Singapore ($2.83B), and Japan ($2.26B).
The fastest growing import markets in Integrated Circuits for South Korea between 2019 and 2020 were Chinese Taipei ($1.99B), China ($1.28B), and Singapore ($1.05B).
Tariffs In 2018, the average tariff for South Korea in Integrated Circuits was 3.7%. The countries with the highest import tariffs for Integrated Circuits were Botswana (Most Favoured Nation duty rate treatement, 5.92%), Cote d'Ivoire (Most Favoured Nation duty rate treatement, 5.92%), Cameroon (Most Favoured Nation duty rate treatement, 5.92%), Republic of the Congo (Most Favoured Nation duty rate treatement, 5.92%), and Cape Verde (Most Favoured Nation duty rate treatement, 5.92%).
Overview In January 2023 South Korea's Integrated Circuits exports accounted up to $5.42B and imports accounted up to $4.26B, resulting in a positive trade balance of $1.16B. Between January 2022 and January 2023 the exports of South Korea's Integrated Circuits have decreased by $-4.02B (-42.5%) from $9.44B to $5.42B, while imports decreased by $-217M (-4.85%) from $4.48B to $4.26B.
Destinations In January 2023, Integrated Circuits were exported mostly to China ($2.35B), Vietnam ($846M), Hong Kong ($613M), Chinese Taipei ($473M), and Singapore ($327M), and were imported mostly from China ($1.46B), Chinese Taipei ($1.17B), Japan ($631M), Malaysia ($213M), and Singapore ($210M).
Growth In January 2023, the decrease in Integrated Circuits's year-by-year exports was explained primarily by a decrease in exports to Hong Kong ($-78.5M or -5.2%), Brazil ($-12.1M or -13.9%), and Poland ($-6.03M or -20.8%). In January 2023, the decrease in Integrated Circuits's year-by-year imports was explained primarily by a decrease in imports from United States ($-126M or -39.2%), Netherlands ($-10.8M or -94.7%), and Italy ($-3.69M or -91%).
EXPORT GROWTH (January 2022 - January 2023): $-4.02B, (-42.5%)
IMPORT GROWTH (January 2022 - January 2023): $-217M, (-4.85%)
MAIN DESTINATION (January 2023): China, $2.35B
This section shows Integrated Circuits's exports and imports data at subnational level for South Korea. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Integrated Circuits over time.
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EXPORTS (2020): $89.1B
IMPORTS (2020): $38.6B
NET TRADE (2020): $50.5B
In 2020, South Korea exported $89.1B in Integrated Circuits. The main destinations of South Korea exports on Integrated Circuits were China ($37.5B), Hong Kong ($18.4B), Vietnam ($10.5B), Chinese Taipei ($6.9B), and Singapore ($3.61B).
In 2020, South Korea imported $38.6B in Integrated Circuits, mainly from China ($16.3B), Chinese Taipei ($9.71B), United States ($2.94B), Singapore ($2.83B), and Japan ($2.26B).
THE FASTEST GROWING Integrated Circuits EXPORT MARKETS FOR South Korea WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Integrated Circuits BY South Korea WERE (2019 - 2020):
In 2020, South Korea's main exporting competitors in Integrated Circuits were:
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