Overview In September 2022 South Korea exported $57.5B and imported $61.4B, resulting in a negative trade balance of $3.82B. Between September 2021 and September 2022 the exports of South Korea have increased by $1.65B (2.96%) from $55.9B to $57.5B, while imports increased by $9.76B (18.9%) from $51.6B to $61.4B.
Trade In September 2022, the top exports of South Korea were Electrical machinery and equipment and parts... ($18.7B), Vehicles ($6.65B), Nuclear reactors, boilers, machinery and mechanical... ($6.21B), Mineral fuels, mineral oils and products... ($5.61B), and Plastics and articles thereof ($3.12B). In September 2022 the top imports of South Korea were Mineral fuels, mineral oils and products... ($19.9B), Electrical machinery and equipment and parts... ($11.7B), Nuclear reactors, boilers, machinery and mechanical... ($4.84B), Ores, slag and ash ($1.94B), and Inorganic chemicals; organic and inorganic compounds... ($1.81B).
Destinations In September 2022, South Korea exported mostly to China ($13.4B), United States ($9.26B), Vietnam ($4.79B), Hong Kong ($2.87B), and Japan ($2.6B), and imported mostly from China ($12.8B), United States ($6.7B), Japan ($4.44B), Australia ($3.78B), and Saudi Arabia ($3.5B).
Growth In September 2022, the increase in South Korea's year-by-year exports was explained primarily by an increase in exports to United States ($2.63B or 45.8%), China ($2.15B or 22.3%), and Vietnam ($556M or 13.6%), and product exports increase in Electrical machinery and equipment and parts... ($2.54B or 21.4%), Vehicles ($1.19B or 27%), and Ships, boats and floating structures ($677M or 24.6%). In September 2022, the increase in South Korea's year-by-year imports was explained primarily by an increase in imports from China ($1.32B or 14%), Japan ($777M or 24.6%), and Netherlands ($601M or 266%), and product imports increase in Nuclear reactors, boilers, machinery and mechanical... ($2.09B or 51.1%), Electrical machinery and equipment and parts... ($1.49B or 20.3%), and Optical, photographic, cinematographic, measuring, checking, medical... ($570M or 40%).