1.  Overview the trade of SOUTH KOREA in goods current year until 202303

According to Dalian Infobank, in 202303, SOUTH KOREA's exports and imports of goods amounted to 114685.1398 million, and were down 9.76% comparing with the same period of last year. Among these, exports were down 13.41% at 54968.7921 million, and imports were down 6.11% at 59716.3478 million. And the corresponding trade deficit was 4747.5557 million and up 3986.07%.

During the current year until 202303, SOUTH KOREA's total exports and imports of goods were 325319.8277 million and were down 6.91% comparing to the same period of last year. Among these, exports were 151314.4524 million and down 12.36%; imports were 174005.3754 million and down 1.58%. The total trade deficit was 22690.9230 million and up 447.49%.

If considering by country (region), CHINA, UNITED STATES, JAPAN, VIETNAM, AUSTRALIA were SOUTH KOREA's top five trading partners. During the current year until 202303, SOUTH KOREA's imports and exports to five countries/territories were 66773.5127 million, 46526.0801 million, 19725.9801 million, 19255.6740 million, 14584.3372 million. These values correspond to 20.53%, 14.30%, 6.06%, 5.92%, 4.48% of SOUTH KOREA's imports and exports, and, respectively, were down 14.51%, up 1.32%, down 11.59%, down 18.60%, down 5.12% comparing to the same period of last year.

Current year until 202303, SOUTH KOREA and the top five trade partners CHINA, UNITED STATES, VIETNAM, JAPAN, HONG KONG CN are the top five countries/territories that SOUTH KOREA exports to in terms of the total export amount. During the current year until 202303, SOUTH KOREA's exports to these five countries/territories were 29443.6432 million, 26857.6981 million, 12479.8457 million, 7069.0968 million, 4531.3829 million. These values correspond to 19.46%, 17.75%, 8.25%, 4.67%, 2.99% of SOUTH KOREA's exports and, respectively, were down 29.79%, up 3.81%, down 25.01%, down 9.68%, down 41.36% comparing with the same period of last year.

Current year until 202303, SOUTH KOREA's exports to top five countries/territories CHINA, UNITED STATES, JAPAN, AUSTRALIA, SAUDI ARABIA are the top five countries/territories that SOUTH KOREA imports from in terms of the total export amount. During the current year until 202303, SOUTH KOREA's imports from these five countries/territories were 37329.8695 million, 19668.3820 million, 12656.8833 million, 10387.3555 million, 8504.7190 million. These values correspond to 21.45%, 11.30%, 7.27%, 5.97%, 4.89% of SOUTH KOREA's total imports and, respectively, were up 3.22%, down 1.90%, down 12.62%, down 10.54%, down 7.45% comparing with the same period of last year.

During the current year until 202303, the trade surplus of SOUTH KOREA was mainly from UNITED STATES, VIETNAM, HONG KONG CN, INDIA, TURKEY at 7189.3160 million, 5704.0173 million, 4144.4888 million, 2864.1298 million, 2074.4844 million, and up 23.45%, down 40.77%, down 42.83%, up 49.97%, up 16.21%. And the trade deficits were mainly from CHINA, SAUDI ARABIA, AUSTRALIA, JAPAN, QATAR at 7886.2263 million, 7090.3132 million, 6190.3739 million, 5587.7865 million, 4168.0462 million, and down 236.62%, down 13.67%, down 21.14%, down 16.08%, up 18.52%.

Current year until 202303, SOUTH KOREA's trade surplus or deficit with top five countries/territories During the current year until 202303,  commodities with hs2 codes, 85, 27, 84, 87, 39, were SOUTH KOREA's top five traded commodities. They correspond to the import and export values of 68919.0049 million, 65726.1318 million, 33191.9457 million, 28143.3119 million, 12109.7398 million, which were down 19.40%, up 1.13%, down 9.23%, up 26.86%, down 21.26% comparing with the same period of last year and account for 21.18%, 20.20%, 10.20%, 8.65%, 3.72% of SOUTH KOREA's total imports and exports.

During the current year until 202303, 85, 87, 84, 27, 39 were SOUTH KOREA's top five traded commodities, with total import and export values of 38203.9795 million, 22422.1837 million, 16913.8925 million, 13945.1731 million, 9084.9982 million. These values correspond to 25.25%, 14.82%, 11.18%, 9.22%, 6.00% of SOUTH KOREA's total exports and, respectively, were down 30.83%, up 29.18%, down 11.54%, up 6.27%, down 23.15% comparing to the same period of last year.

During the current year until 202303, 27, 85, 84, 28, 87 were SOUTH KOREA's top five traded commodities, with total import values of 51780.9587 million, 30715.0254 million, 16278.0533 million, 6750.7887 million, 5721.1281 million. These values correspond to 29.76%, 17.65%, 9.35%, 3.88%, 3.29% of SOUTH KOREA's total exports and, respectively, were down 0.17%, up 1.43%, down 6.69%, up 78.28%, up 18.52% comparing to the same period of last year.

2. Current year until 202303, SOUTH KOREA binational trade profile

According to Dalian Infobank, during the current year until 202303, SOUTH KOREA-China binational exports and imports of goods amounted to 66773.5127 million and were down 14.51% comparing with the same period of last year. Among these, exports from SOUTH KOREA to China were 29443.6432 million and down 29.79%, imports from China to SOUTH KOREA were 37329.8695 million and up 3.22%. The total binational trade deficit was 7886.2263 million and down 236.62%.

During the urrent year until 202303, commodities with hs2 code, 85, 84, 28, 39, 29, were binational trade's top five traded commodities. They correspond to import and export values of 24904.1416 million, 6931.0309 million, 6115.3479 million, 3562.2997 million, 3558.4418 million and makes up 37.30%, 10.38%, 9.16%, 5.33%, 5.33% of the total binational imports and exports. These values were also down 25.16%, down 18.12%, up 82.60%, down 23.89%, down 23.02% comparing to the same period last year.

During the current year until 202303, 85, 84, 39, 29, 28 were the top five traded commodities exported to China from SOUTH KOREA, with export values of 11973.4244 million, 2751.2481 million, 2428.4744 million, 2305.8495 million, 1634.8909 million. These values account for 40.67%, 9.34%, 8.25%, 7.83%, 5.55% of SOUTH KOREA's total exports and were down 40.26%, down 23.70%, down 29.03%, down 25.69%, up 41.92% comparing to the same period of last year.

During the current year until 202303, 85, 28, 84, 72, 29 were SOUTH KOREA's top five traded commodities importing from China , with import values of 12930.7172 million, 4480.4570 million, 4179.7828 million, 1782.1671 million, 1252.5923 million. These values account for 34.64%, 12.00%, 11.20%, 4.77%, 3.36% of SOUTH KOREA's total imports and were down 2.28%, up 103.93%, down 13.97%, up 29.86%, down 17.57% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Korea Customs and Trade Development Institution