Overview: In February 2021 South Korea exported $44.8B and imported $42.2B, resulting in a positive trade balance of $2.64B. Between February 2020 and February 2021 the exports of South Korea have increased by $3.9B (9.53%) from $40.9B to $44.8B, while imports increased by $5.21B (14.1%) from $37B to $42.2B.
Trade: In February 2021, the top exports of South Korea were Electrical machinery and equipment and parts... ($13.5B), Nuclear reactors, boilers, machinery and mechanical... ($5.38B), Vehicles; other than railway or tramway... ($5.28B), Plastics and articles thereof ($3.08B), and Mineral fuels, mineral oils and products... ($2.47B). In February 2021 the top imports of South Korea were Mineral fuels, mineral oils and products... ($9.57B), Electrical machinery and equipment and parts... ($7.69B), Nuclear reactors, boilers, machinery and mechanical... ($4.94B), Optical, photographic, cinematographic, measuring, checking, medical... ($1.81B), and Ores, slag and ash ($1.55B).
Destinations: In February 2021, South Korea exported mostly to China ($11.2B), United States ($6.4B), Vietnam ($3.91B), Hong Kong ($2.52B), and Japan ($2.18B), and imported mostly from China ($9.01B), United States ($5.75B), Japan ($4.1B), Australia ($2.2B), and Chinese Taipei ($1.77B).
Growth: In February 2021, the increase in South Korea's year-by-year exports was explained primarily by an increase in exports to China ($2.37B or 26.9%), Chinese Taipei ($601M or 56.4%), and United States ($468M or 7.89%), and product exports increase in Electrical machinery and equipment and parts... ($1.35B or 11.1%), Vehicles; other than railway or tramway... ($1.27B or 31.5%), and Plastics and articles thereof ($565M or 22.5%). In February 2021, the increase in South Korea's year-by-year imports was explained primarily by an increase in imports from China ($3.46B or 62.4%), Australia ($889M or 67.9%), and Chinese Taipei ($438M or 33%), and product imports increase in Nuclear reactors, boilers, machinery and mechanical... ($1.26B or 34.3%), Electrical machinery and equipment and parts... ($1.25B or 19.4%), and Ores, slag and ash ($565M or 57.4%).