South korea exports. 600 USD th in Dec 2022.
South korea exports 5 $116. For the calendar year 2021, the South Korean economy grew at 4. South Korea’s exports grew at a weaker-than-expected pace in November, amid lingering concerns that the trade-dependent economy is losing momentum right as uncertainty in global commerce is on Israel-South Korea Trade: In 2022, Israel exported $1. Over the past 5 years the exports of South Korea to Australia have decreased at an annualized rate of 0. 86B, a 29. South Korea Exports: ICT Goods was reported at 189,094,576. dollars, down from about 125 billion in the previous year. This records an increase from the previous number of 97. 90: 658284. 94% increase from 2021. 16B), and Motor vehicles; parts and accessories (8701 to 8705) ($6. 36 points in January of 1998 and a record low of 18. South Korea Industrial Output Shrinks More than Expected. South Korea Exports: First 10 days data is updated monthly, averaging 13. 2%) from $414M to $360M, while imports decreased This article examines the trade relationship between Mexico and South Korea through the lens of trade in value-added perspective. goods and services trade deficit with Korea, South was $35. [ 20 ] [ 54 ] Despite some failed bids, the T-50 has been exported to the Philippines, Iraq, Indonesia, and Thailand, as well as to a number of countries expressing interest in procuring the aircraft South Korea's export growth slowed for a fourth-straight month in November, to the weakest level in 14 months, as shipments to the United States and China fell amid tariff uncertainty, trade data In 2022, the export value of the music industry in South Korea amounted to around 927. Download Historical View South Korea's Korea Exports: Low- and Middle-Income Economies: % of Total Goods Exports: Middle East & North Africa from 1964 to 2016 in the chart: max 1y 5y 10y. from The World Bank: Data During the last 20 years South Korea's economy has become relatively more complex, moving from the 24th to the 4th position in the ECI rank. Follow to be the first to know about trade insights. is 8. South Korea Exports to Canada - data, historical chart and statistics - was last updated on January of 2025. from The World Bank: Data by Flagpictures. South Korea Exports to Malaysia - data, historical chart and statistics - was last updated on January of 2025. The year 2022 saw the peak value of exports Exports to Japan in South Korea decreased to 2119000 USD Thousand in March from 2368755 USD Thousand in February of 2024. South Korea Exports to Philippines - data, historical chart and statistics - was last updated on January of 2025. The data reached an all-time high of 19. South Korea Business Morale Falls to 2020's Low Amid Political Unrest. Shipments to ASEAN, the EU, India and the United States all hit record highs. South Korea gdp Vietnam continues to grow as a significant export destination for South Korea, with Q1 2024 exports totaling $13. 60 percent in February of 1974 and a record low of In 2023, South Korea's exports to ASEAN countries were worth approximately 109 billion U. Export Prices YoY in South Korea averaged 4. Strong global demand for advanced semiconductors, driven by the surge in artificial intelligence, will support export growth. 72 Billion during 2023, according to the United Nations COMTRADE database on international trade. We consider only countries with population of at least 1 million and exports of at Exports YoY in South Korea increased to 6. 1 per cent from a year before to a record high in 2024 amid growing overseas demand for instant noodles and processed rice items, the agriculture ministry said. China, the United States, Vietnam, Japan, and Hong Kong are the top Exports of goods and services (% of GDP) - Korea, Rep. South Korean exports to the US surpassed those to China in early 2024. 574 USD mn in Jan 1977. South Korean companies continue to export goods to Russia via subsidiaries in China, bypassing export restrictions imposed after Moscow’s invasion of Ukraine, according to a report by the Royal United Services Institute (RUSI). South Korea Exports to South Africa was US$1. Exports rose 1. 47 Billion during 2022, according to the United Nations COMTRADE database on international trade. 84B). 42%, from $5. South Korean exports to the US exceeded shipments to China for the first time in two decades last month, in a sign of shifting ties amid global tensions over economic security and tech supply chains. 7 billion in 2022. 7 percent on year in December, the Bank of Korea said on Wednesday - up from 7. Discover detailed insights into imports and exports to/from the U. had a total export of 683,550,925. 23 billion U. 5B to Singapore. The data is categorized under Global Database’s South Korea – Table KR. South Korea Imports from China was US$142. 900 USD th for Dec 2021. 5% year on year basis in 2021. 1B), Broadcasting Equipment ($24. com has been dedicated to helping global businesses expand their trade in South Korea. Exports 273. South Korea Exports to China - data, historical chart and statistics - was last updated on January of 2025. 84: 14. It started as an agriculture-based economy in the 1960s, 1 and it became the 11th largest economy in the world in terms of gross domestic product (GDP) in 2016. tariffs South Korea-Australia Trade: In 2022, South Korea exported $18. 6 points over four years to reach 32. You can also see the data for selected countries and See the historical data and trends of South Korea's exports of goods and services from 1960 to 2024. Exports 61380. 5, the Former President Moon Jae-in declared arms exports to be a “future economic lifeline” for the South Korean economy, a message echoed by Yoon. South Korea announced that the country is exempt from the Biden administration’s newly updated export controls on advanced artificial intelligence (AI) chips and AI models. South Korea Export Value Index data is updated yearly, averaging 29. South Korea has experienced one of the largest economic transformations of the past 60 years. Vietnam’s increasing role as a manufacturing hub in Southeast Asia has contributed to the rise in South Korean exports, particularly in electronics, industrial machinery, and raw materials. 8 billion in YTD 2017. South Korea's exports rose for a ninth consecutive month in June, albeit at a slower pace than expected, as robust demand for chips and cars bolstered the export recovery in Asia's fourth-largest Korea's exports extended on-year gains to the 11th straight month in August, data showed Sunday, driven by the strong demand for semiconductors. 6 billion in 2023, up 27. 00: 56350. Flat products account for the largest share of South Korea’s steel exports. Auto exports were up 24. Imports in South Korea averaged 16942. i. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Using the global input-output model, we dissect gross exports into The value of South Korea’s YTD 2018 exports increased 14 percent to $6. shipments South Korea Exports to Iran was US$195. 9 Billion during 2023, according to the United Nations COMTRADE database on international trade. Compare South Korea's exports with other countries and regions, and explore the Korea remains one of the world’s most export-dependent industrialized nations, with exports of goods and services valued at 35. 15B), and Passenger and Cargo Ships ($1. 75: USD Million: External Debt 702682. 61 USD Million in January of 1966. In 2023, goods with a value of around 632. 84 percent in the total world export, placing it among the largest exporters globally. 3 billion) from 2021 and up 71 percent from 2012. South Korea imports The volume of South Korea’s steel exports increased to 5 of its top 10 markets in 2018. 6%). o. 12B in South Korea Exports to Canada was US$7. Since our inception, TradeWheel. 01B to South Korea. South Korea's exports rose for a seventh straight month in April, trade data showed on Wednesday, as strong demand for chips continued to lead growth while automobile sales and U. South Korea exports for 2021 was $761. 7% compared to $503. 3 million metric tons (YTD 2018) 85% steel export growth The data reached an all-time high of 2. South Korea Export Growth Above Estimates. 2%, while steel shipments were up 37%. Export Prices in South Korea averaged 102. South Korea’s exports maintained growth momentum in December as demand from China increased while semiconductor sales stayed resilient. 82% decline from 2019. SEOUL, South Korea (AP) — South Korea’s central bank lowered its key policy rate for a second straight month and said the country’s economy will grow at a slower pace than it initially anticipated. Korea Exports: Low- and Middle-Income Economies: % of Total Goods Exports: Outside Region (RTTNews) - Export prices in South Korea were up 10. 28B). 3 billion during 2019. Exports to Japan in South Korea averaged 2345071. 84% decline from 2022. See more Exports The top exports of South Korea are Integrated Circuits ($121B), Refined Petroleum ($61. According to the advance estimate, South Korea’s real GDP rose 0. 89 billion in December from USD 50740 in November of 2024. org South Korean imports cost a total US$642. The trade South Korea Exports as a % of GDP Exports as a % of GDP of South Korea was 35. Long products Meanwhile, South Korea's exports of agricultural goods and related products grew 6. Exports free on board (f. South Korea Exports to India - data, historical chart and statistics - was last updated on January of 2025. See the value, percentage share, and change of each export category, as well as the trade balance surplus or deficit. South Korea Exports to Iran - data, historical chart and statistics - was last updated on January of 2025. 5 USD bn in the previous month. 293 2015=100 for Dec 2020. Imports YoY in South Korea averaged 14. Over the past 5 years the exports of South Korea to United States have increased at an annualized rate of South Korea exports for 2022 was $808. 00: 63786. 14 Billion during 2022, according to the United Nations COMTRADE database on international trade. 60 percent in December from 1. South Korea Exports to Australia - data, historical chart and statistics - was last updated on January of 2025. 9 million metric tons. 600 USD th in Dec 2022. South Korea Imports By Country - was last updated on Monday, January 13, 2025. Exports: Mfg Good: Iron and Steel data remains active status in CEIC and is reported by Korea International Trade Association. By contrast, destinations for South Korea’s exports of steel, accounting for 73 percent of South Korea’s steel exports in 2017. 10 South Korea Exports to Malaysia was US$11. goods exports to Korea, South in 2022 were $72. 15B), and Vaccines, blood, antisera, toxins and cultures ($472M). . 82 Billion during 2023, according to the United Nations COMTRADE database on international trade. 580 USD bn in Dec 2024. South Korea Total Exports data is updated monthly, available from Jan 1966 to Nov 2024, with an averaged value of 9. 902 USD bn (Median) from Jan 2016 to Dec 2024, with 108 observations. From 2022 to 2023, South Korea’s overall spending on imported products dropped by -12. 4 #3 7A003 'Inertial Measurement Equipment or Systems', Merchandise Trade statistics data for Korea, Rep. Over the past 5 years the exports of Thailand to South Korea have increased at an annualized rate of 6. 77 billion. Exports of Semi Conductor in South Korea increased to 11671000 USD Thousand in March from 9946000 USD Thousand in February of 2024. This records an increase from the previous number of 188,028,258. 1% in the third quarter from the second. 00 USD Thousand in March of 2022 and a record low of 176101. 31 Billion during 2022, according to the United Nations COMTRADE database on international trade. South Korea’s exports rose in October after falling for a year, on brisk demand for transport, machinery and other goods, the latest sign of a recovery in global demand. The data reached an all-time high of 122. Exports YoY in South Korea averaged 15. 5B), Cars ($3. 1% year-on-year (y/y) in the fourth quarter of 2021. 4 $118. On 9 January, South Korea’s Ministry of Oceans and Fisheries (MOF) unveiled an ambitious Development Plan for the Oyster Aquaculture Industry, outlining three key strategies to reach South Korea’s export growth weakened in October to a seven-month low, missing market expectations, after Asia’s fourth-largest economy barely grew in the third quarter on slowing exports. 68 USD Million from 1966 until 2024, reaching an all time high of 66027. 1 billion. 9% The improving export performance will generate positive repercussions in South Korea’s economy, in which goods exports account for 40% of nominal output. The main products that Israel exported to South Korea were Other Measuring Instruments ($406M), Non-optical Microscopes ($115M), and Chemical Analysis Instruments ($108M). Those to China, the largest consumer of South Korean exports, rose 22. 7B to Australia. 15 billion in May, following a 13. 54 points in October of 2024. Imports YoY in South Korea increased to 3. For a fourth month in a row, exports were up, albeit by only 9. f. Last month, South Korea's consumer inflation quickened to 1. The export from the country amounted to US$495 billion in 2016 up by 36% since the Great recession kicked in. 7% South Korean exports continued to grow last month, adding to the optimistic outlook for economic growth and global commerce this year. In addition, the country has one of the world's largest foreign-exchange reserves. WA006: Exports and Imports: by Country. 1 billion, up 9. 5 percent ($6. 92 in thousands of US$ leading to a negative trade balance of -47,810,494. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. 6B in 2017 South Korea Export Value Index data was reported at 122. Discover how South Korea adapted to these challenges South Korea Trade Statistics. 4B), Cars ($52. The indicator was highest in the year 2011 (51. Long products United States Imports from South Korea was US$119. 7% increase from 2020. South Korea’s exports rose 11. 4% year on year, and imports fell 2. 46 Million during 2022, according to the United Nations COMTRADE database on international trade. Includes country demographics, geography, government, economy, telecommunications, transportation, military, and transnational issues. dollars were exported from South Korea. 91%. 00 USD Thousand In 2014, South Korea’s steel exports reached a record high of 31. The main products that South Korea exported to Australia were Refined Petroleum ($10. 87%, from $1. In 2015, the volume of South Korea’s steel exports declined slightly by 2. In the same year, the country exported mainly electrical and Imports to South Korea increased to a near two-year high of USD 54. In YTD 2018, 72 percent, or 5. 31: 273. The government has sought to sign 10 new free trade agreements (FTAs), with updates to existing agreements addressing contemporary trade issues and digital trade. As of 2021, South Korea held a share of roughly 2. The country’s important role in global supply chains for memory chips and refined petroleum products mean that its outbound shipment data are also considered a measure of the strength of The South Korean economy closed the 2021 year on a strong note, with GDP up 4. 14B in 2017 to $7. South Korea Imports Rise Less than Expected. 94 percent from 1967 until 2024, reaching an all time high of 115. 77 percent in January of 2009. 44%, from $20. On a monthly basis, export prices climbed In a remarkable display of economic resilience, South Korea’s exports surged 7. 51B, a 27. South Korea Exports to Philippines was US$12. S. from 1960 to 2022. South Korea’s exports continued to grow last month on the back of strong demand for semiconductors and other technology devices, supporting confidence among policymakers that the economy will SEOUL, Nov 29 (Reuters) - South Korea's exports likely rose for a second month in November but at a slower pace amid uncertainty over the global growth outlook, a Reuters survey showed on Wednesday. U. 5 percent in February, compared with double digit growth Complete profile for South Korea. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. 0 percent in November. It has grown to become the fourth-largest economy in Containerships seen at the Busan Port Terminal (BPT) in South Korea. max 1y 5y 10y. 877 USD bn for Nov 2024. 6 million metric tons, an increase of 11 percent from 2013. The statistic shows the value of exports of goods from South Korea from 2013 to 2023. 4 USD bn. Apply. 1 $57. 2 percent to 30. 44 USD Thousand from 2014 until 2024, reaching an all time high of 2995353. 1% from $731. 00 USD Thousand in July of 2014 and a record low of 1696410. The main products that South Korea exported to Singapore were Integrated Circuits ($7. Given its robust Korea, Rep. Trade has an outsized role in the South Korean economy—total trade relative to South Korean GDP was Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. South Korea imports for 2022 was $807. 40 percent in South Korea Exports to United Kingdom was US$6. 77: USD Billion: External Debt 26467035. K-pop The main export in the South Korean music industry is K-pop. [201] Explore the remarkable transformation of the Korean economy from its post-war beginnings to its current status as a global powerhouse. 89B), Refined Petroleum ($7. South Korea Exports to Australia was US$18. 4%), and lowest in the year 2021 (35. 87B, a 7. South Korea exports for 2020 was $597. 6 billion set in 2022, the Ministry of Trade, Industry and Energy announced on Learn about the importance and trends of South Korea's exports for its economic growth and global trade. 03B, a 6. 8% gain in April. South Korea's exports are expected to have risen in July at the fastest pace in 26 months, as computer chip sales continued to lead growth with robust demand in the United States and a recovery in South Korea-Singapore Trade: In 2022, South Korea exported $22. This blog post examines key historical crises such as the Great Depression, the Gulf War, the 9/11 attacks, and the COVID-19 pandemic, analyzing their profound impacts. South Korean exports continued to grow last month, helped by rising demand from the US that overtook China as the biggest market for the first time in two decades. 5B), Office Machine Parts ($7. The marginal growth fell short of our and market expectations. We expect easing inflation and lower interest rates to boost domestic demand in the Summary. South Korea’s trade surplus rose to $5. 11% increase from 2021. South Korea has generally pursued a sell-to-all South Korea's exports rose for an eighth straight month in May, led by robust chip sales though overall growth in shipments lagged market expectations, trade data showed on Saturday. Among the top markets, South Korea’s exports increased the most by volume to Malaysia (17%), Italy (13%), India (12%), Mexico (10%), and Thailand (4%). Over the past 5 years the exports of South Korea to Singapore have increased at an annualized rate of 1. We expect easing inflation and lower interest rates to boost domestic demand in the South Korea exports for 2022 was $808. The top 8 countries each received more than 1 million metric tons of South Korea’s steel exports. Learn what products South Korea exported the most and to which countries in 2023. The main products that Thailand exported to South Korea were Refined Petroleum ($640M), Integrated Circuits ($490M), and Rubber ($388M). The KAI T-50 is one of South Korea's most successfully exported weapons platforms and has been credited with South Korea's increased arms exports. South Korea imports for 2021 was $696. 4%. 36 Billion during 2022, according to the United Nations COMTRADE database on international trade. 7% from a year earlier to $58. Find data on export value, share, industry, commodity, partner and This web page shows the data on exports of goods and services as a percentage of GDP for Korea, Rep. In 2023, the export value of electrical machinery and equipment and parts thereof from South Korea measured approximately 171 billion U. 75 Billion during 2022, according to the United Nations COMTRADE database on international trade. Based on the average exchange rate for 2023, the South Korean won has depreciated by -12% against the US dollar since 2019 and South Korea-United States Trade: In 2022, South Korea exported $112B to United States. South Korea Exports to India was US$17. 6 percent of GDP in 2021. In particular, its semiconductor industry, led by Samsung Electronics and SK Hynix, accounts for up to 20% of South Korean exports in recent years. 56B to South Korea. South Korea joins 17 other [] South Korea Exports: First 10 days data was reported at 17. South Korea Exports By Country,exports By Country - was last updated on Friday, January 10, 2025. dollars. 0% The value of South Korea’s YTD 2018 exports increased 14 percent to $6. 6 million U. South Korea Imports from China - data, historical chart and statistics - was last updated on January of 2025. (KOR) including exports and imports, applied tariffs, top exporting and importing countries, effectively applied and MFN tariff along with most exported and imported product groups, along with development indicators such as GDP, GNI per capita, trade balance and trade as percentage of GDP for Most Recent Year. 86 points in January of 1971. Exports of Semi Conductor in South Korea averaged 3697902. Quick Facts: World’s fourth-largest steel exporter: 15. at the company level. 2B), and Motor vehicles; parts and accessories (8701 to 8705) ($20B), exporting Get the latest data and forecast for South Korea's exports, the world's seventh-largest exporter of goods. 00 What does South Korea export? (2022) @OECtoday is on twitter. South Korea Exports to Japan - data, historical chart and statistics - was last updated on January of 2025. Download Historical Korea, Rep. South Korea Total Exports recorded 56. South Korea’s export economy is the fifth largest and the sixth most complex economy in the world. Leading the charge were the semiconductor and automobile sectors, which achieved all-time South Korea's import prices accelerated in December at the fastest pace in five months, central bank data showed on Wednesday, signalling renewed inflationary pressures due to a weakened local South Korea exports for 2022 was $808. 334 2015=100 in 2021 Exports were $94. South Korea Inflation Rate Hits 4-Month High. b. The first cloned dog in the world, “Snuppy” was created at the Seoul National University in South Korea. ) are, in general, customs statistics reported under the general trade statistics according to the recommendations of the s US Exports to South Korea by Top Ten Export Control Classification Numbers (ECCN) 2021 7 2021 2020 2019 #1 9A610 Military Aircraft and Related Commodities, Other Than Those Enumerated $110. 40: 266. The South Korean economy is heavily dependent on international trade, and in 2014, South Korea was the fifth-largest exporter and seventh-largest importer in the world. Goods exports have grown strongly in recent months, but a slowdown is on the horizon. 4 billion; imports were $130. 5M (-13. 91 percent from 1967 until 2024, reaching an all time high of 148. 06 USD Thousand from 1988 until 2024, reaching an all time high of 13118000. 99%, from $19. 37% increase from 2020. Premium Statistic Trade balance South Korea 1991-2023 South Korea's export growth is expected to have risen in December for a 15th straight month, but analysts feel momentum could moderate in the year ahead as concerns about possible U. 8 billion in 2024, surpassing the previous high of $683. South Korean chip exports face growing competition from China, Malaysia Taiwan's ESI with South Korea in semiconductors rose significantly, increasing 7. 2 $61. dollars, based on the UN COMTRADE database. 9%, exceeding market expectations and near the BoK's 2% target, with the central bank flagging a possibility of inflation accelerating South Korean media coverage surrounding the latest monthly trade data released by the government struck a positive tone regarding the overall trajectory of the Korean economy, which experienced a significant increase in semiconductor and automotive exports. 6 billion from $5. From our ever-growing online directory of South Korean buyers to our continuously . South Korea Exports to United Kingdom - data, historical chart and statistics - was last updated on January of 2025. South Korea exports logged their sharpest expansion in 32 years in May, marking another robust month of shipments fuelled by stronger consumer demand globally as many economies start to reopen. Photo: SeongJoon Cho/Bloomberg News South Korea Exports to Japan was US$29 Billion during 2023, according to the United Nations COMTRADE database on international trade. Although domestic demand rose after a decline in the prior quarter, the fall in real exports hindered more robust growth. The country’s exports—often viewed as a bellwether for global trade—have been driven by brisk demand for powerful memory South Korea imports for 2023 was $752. 40 percent in November of 2024. Share of imports into South Korea in total world imports from 2013 to 2021. 01B in 2022. 334 2015=100 in Dec 2021. 702 2015=100 (Median) from Dec 1980 to 2021, with 42 observations. 8 #2 9A619 Military gas turbine engines and related commodities (see List of Item $93. 7%. South Korea’s exports hit a record $683. 23 points from 1971 until 2024, reaching an all time high of 213. 2 billion in October. South Korea Retail Sales Rebound in November. 6 billion in November from $3. South Korea’s exports decreased the most by volume to the United States (-30%), South Korea is the world's third largest oyster exporter after France and China, and now has set its sights on the top spot, targeting USD 160 million in exports by 2030. 00 USD Thousand in February of 2016. 59 points in November from 128. South According to the advance estimate, South Korea’s real GDP rose 0. The main products that South Korea exported to United States were Cars ($22. United States Imports from South Korea - data, historical chart and statistics - was last updated on January of 2025. 58 percent in October of 1973 and a record low of -35. The country was the world's sixth-largest exporter of goods and the eighth-largest importer of goods in 2022 (WTO), with trade accounting for 97% of its GDP (World Bank). South Korea's exports grew at a faster pace in December, beating market expectations, and ended the year with a record performance, trade data showed on Wednesday, though risks loom in the year ahead. "There are also South Korean exports to the US exceeded shipments to China for the first time in two decades last month, in a sign of shifting ties amid global tensions over economic security and tech supply chains. Company trade records. Learn More. This records an increase from the previous number of 14. 9B in PROMOTE YOUR PRODUCTS TO THOUSANDS OF SOUTH KOREAN IMPORTERS AND BUYERS: South Korea is the 10th largest importer in the world. Between 2010-2021, the exports as a % of GDP in South Korea decreased by 25. 73 USD Million in August of 2022 and a record low of 38. Over the past 5 years the exports of Israel to South Korea have increased at an annualized rate of 6. The U. 25 in See the table of South Korea's exports by country in U. 30 percent in December from -2. This outstanding performance marks the 12th consecutive month of growth, reflecting the nation’s strong position in global trade. 68 in thousands of US$ and total imports of 731,361,419. See the monthly breakdown, historical trends, and major export categories. 6% in 2021, while South Korea’s exports as a % of GDP decreased by 0. 40: 0. These economic complexity rankings use 6 digit exports classified according to the HS96 classification. Export figures keep on spelling out good news for the South Korean economy. 66 Billion during 2023, according to the United Nations COMTRADE database on international trade. Export Prices in South Korea increased to 130. While these companies benefit economically, the potential geopolitical risks for South Korea of not complying with Western-led sanctions are Thailand-South Korea Trade: In 2022, Thailand exported $7. 3 USD bn in Nov 2024, compared with 57. OEC Tradle. Download Historical Exports of goods and services (current US$) - Korea, Rep. 915 USD bn in Sep 2011 and a record low of 18. 482 South Korea is the world's seventh-largest exporter of goods. 91B, a 15. 3 billion. In this context, the defense industry across land, sea, aerospace, and electronic weapons systems is a perfect alternative encompassing the most advanced technological R&D and traditional manufacturing "If the United States introduces detailed trade protectionism measures, significant impacts on South Korea's exports will be inevitable," the Ministry of Trade, Industry and Energy said in a policy report. 2 How did the industrialization miracle take place? Factors in South Korea’s Economic Success Over the past few decades, South Korea has achieved remarkable economic growth through its export-oriented, labor-intensive industrialization. 5% year-on-year in September, totaling a record $58. South Korea Exports to South Africa - data, historical chart and statistics - was last updated on January of 2025. 84 Billion during 2022, according to the United Nations COMTRADE database on international trade. Between November 2023 and November 2024 the exports of South Korea's Printed Circuit Boards have decreased by $-54. Department of Commerce’s Bureau of Industry and Security (BIS) unveiled these measures on Tuesday, tightening restrictions on AI exports to safeguard national security. 88% and the Most Favored Nation (MFN) Weighted Average tariff is 8. 25 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Korea, Rep. This presents opportunities and challenges for Swiss companies, as the outdated EFTA-South Korea FTA Export Prices YoY in South Korea increased to 7 percent in November from 2 percent in October of 2024. Overview In November 2024 South Korea's Printed Circuit Boards exports accounted up to $360M and imports accounted up to $241M, resulting in a positive trade balance of $118M. 4 billion. The export-oriented policies of South Korea are one of the most important factors in its economic success. South Korea Exports to China was US$124. 67B, a 6. The Republic of Korea has achieved remarkable success in recent decades in combining rapid economic growth with significant poverty reduction, with real gross domestic product (GDP) growing on average by 5. South Korean import share in world imports 2013-2021. 6 million metric tons of South Korea’s steel exports consisted of flat products. 08 percent from 1972 until 2024, reaching an all time high of 75. Following a policy meeting, the Bank of Korea cut its benchmark interest rate by a quarter percentage point to 3%. The country exports mainly electrical and electronic equipment (30% of total), machinery, nuclear reactors, boilers (12%), vehicles other than railway, tramway (10%), and plastics (7%). ) and imports cost insurance freight (c. hxmv mqlc fpdti flves zysdc ilv zljc pnmyw xwgodef ikgsos