South Korea / Iraq

Overview In December 2024, South Korea exported $105M and imported $941M from Iraq, resulting in a negative trade balance of $835M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-1.47M (-1.38%) from $107M to $105M, while imports increased by $259M (37.9%) from $682M to $941M.

Trade In December 2024, the top exports of South Korea to Iraq were Cars, tractors, trucks & parts thereof. ($87.8M), Machinery, mechanical appliances, & parts ($16M), Electrical machinery and electronics ($9.2M), Rubber & articles thereof ($3.14M), and Iron/Steel Articles ($3.11M). In December 2024 the top imports of South Korea from Iraq were Mineral fuels, mineral oils and products... ($616M), Aluminum articles ($584k), Used clothes & textile articles ($2k), Machinery, mechanical appliances, & parts ($1k), and Sugars & confectioneries ($0).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Iraq was explained primarily by an decrease in product exports in Iron/Steel Articles ($-2.27M or -42.2%), Machinery, mechanical appliances, & parts ($-1.69M or -9.56%), and Rubber & articles thereof ($-1.15M or -26.7%). In December 2024, the increase in South Korea's year-by-year imports  from Iraq was explained primarily by an increase in product imports  in Mineral fuels, mineral oils and products... ($57.1M or 10.2%).