According to South Korea export data, the total export value in 2023 was $632.2 billion, a year-on-year decrease of -7.5% compared to $683.6 billion in 2022.

South Korea's Top International Trade Partners

The latest South Korea export data shows that 72.1% of South Korea's export products were purchased by importers from the following countries: Mainland China (19.7%), the United States (18.4%), Vietnam (8.5%), Japan (4.6%), Hong Kong (4%), Taiwan (3.2%), Singapore (3%), India (2.84%), Australia (2.81%), Mexico (1.9%), Germany (1.6%), and Malaysia (1.5%).

According to South Korea export data, from the perspective of Mainland China, 57.1% of South Korea's exports went to other Asian countries in 2023, while 21.7% went to North American importers. South Korea also exported an additional 13.2% of goods to European buyers. A smaller proportion flowed to Oceania (4.3%), Africa (1.88%), followed by Latin America (1.85%).

Top 10 Export Products from South Korea

According to Tendata's South Korea export data, the top ten export products accounted for 83.1% of South Korea's total export volume:

1. Machinery and equipment: $171.3 billion (27.1%)

2. Vehicles: $91.8 billion (14.5%)

3. Machinery including computers: $72.8 billion (11.5%)

4. Mineral fuels including oil: $54 billion (8.5%)

5. Plastics and plastic products: $35 billion (5.5%)

6. Iron and steel: $25.7 billion (4.1%)

7. Organic chemicals: $21.2 billion (3.4%)

8. Ships: $20.3 billion (3.2%)

9. Optical, technical, medical equipment: $16.9 billion (2.7%)

10. Inorganic chemicals: $16.4 billion (2.6%)

South Korea export data shows that the only products among the main export categories that saw growth were vehicles (increased by 21.4% compared to 2022), ships (increased by 18.5%), followed by inorganic chemicals (increased by 4.5%). The most significant declines were in South Korea's exports of electrical machinery and equipment (down -18.6% compared to 2022) and mineral fuels including oil exports (down -16.5%).

According to More Specific Hs Codes, The Top 10 Export Products from South Korea Were:

1. HS Code：8901201000(39.79%, $4383 Million)：Sea-going tankers

2. HS Code：29023000(3.87%, $426.72 Million)：Toluene

3. HS Code：25202010(3.74%, $412.14 Million)：Plasters consisting of calcined gypsum or calcium sulphate, whether or not coloured, with or without small quantities of accelerators or retarders: Calcined plasters

4. HS Code：85423900(3.32%, $365.45 Million)：Electronic integrated circuits (excluding such as processors, controllers, memories and amplifiers)

5. HS Code：7904000010(3.01%, $331.29 Million)：Zinc bars, rods, profiles and wire, n.e.s. , n.e.s. (detailed label not available)

6. HS Code：28080000(2.77%, $305.53 Million)：Nitric acid; sulphonitric acids (detailed label not available)

7. HS Code：890590100000(2.74%, $301.92 Million)：Light-vessels, fire-floats, floating cranes and other vessels, the navigability of which is subsidiary to their main function (excluding dredgers, floating or submersible drilling or production platforms; fishing vessels and warships): Floating docks

8. HS Code：85423100(2.69%, $295.91 Million)：Electronic integrated circuits as processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits

9. HS Code：49089000(1.97%, $216.73 Million)：Transfers "decalcomanias" (excluding vitrifiable)

10. HS Code：83024999(1.72%, $189.72 Million)：Bathroom curtain rods: the rest.

>>>Click to Inquire for More Information from Tendata<<<

Shanghai Tendata, headquartered in the Lujiazui Financial District, has been in operation since 2005. With a professional workforce of over 500, the company has provided effective market expansion and customer management services to over 70,000 domestic and international import-export enterprises. We boast an experienced product development team and a dedicated after-sales support department.

As a big data company specializing in trade, Tendata has established a trade data platform and an online overseas talent platform. In the digital transformation of import and export enterprises, Tendata provides professional data services with confidence in data security. For example, Tendata offers real-time professional market research to help businesses gain insights into global markets. Tendata can provide real and effective global buyers for import and export enterprises, facilitating efficient customer development. Tendata's online business database allows in-depth research into company information, reducing the risks of import and export transactions. Tendata also has an online overseas talent platform to further promote localized sales for import and export enterprises (>>>Click to Learn More).

Distinguishing itself from traditional B2B platforms that passively wait for customers, Tendata, based on big data, proactively analyzes customer backgrounds, precisely targets buyers with transaction records, and significantly filters and positions major clients. Tendata's Import-Export Gateway possesses customs data from over 90 countries, internet data from 141 countries, business data from 198 countries, and a database of 130 million buyers. With 100 billion rolling data every day, Tendata can intelligently and rapidly filter out contact information for 121 million executives and decision-makers, including email, phone, and social media details. It also synchronously displays company directories, product images, and websites. Tendata provides 20 visualized reports, assisting import and export enterprises in accurately positioning and analyzing markets, enabling quick identification of precise buyers and suppliers. (>>>Visit the Tendata official website for more details)

Proactive Marketing for Import and Export – Discover Target Customers

One-click global search allows real-time discovery of active global customers, flexible filtering of potential import and export customers, improving efficiency, and saving costs. Tendata I-Discovery, a one-click search that simultaneously accesses three major databases—trade, business, and cloud search—presents global customers in 0.01 seconds. Discover exclusive customers for Importers & Exporters, instantly identifying the latest and most active global customers, seizing industry opportunities. (>>>Click to Consult for a Free Trial)

Proactive Marketing for Import and Export – Monitor Customer and Competitor Dynamics

Monitor new and existing customers through any channel, intelligently push business opportunity information, and keep track of customer dynamics in real-time. Tendata I-Rader – the world's leading business intelligence system – explores the global market and seizes industry opportunities. (>>>Click to Learn More)

Proactive Marketing for Import and Export – Analyze Buyer Details

Through market analysis, product analysis, supplier analysis, and competitor analysis, Tendata helps you strategize. With over 100 billion pieces of trade data, precisely analyze global import and export trade information details, such as the distribution of import and export countries, origin analysis, purchasing trends and details, and enterprise information analysis. T-iTrader accurately analyzes competitive environments and market conditions, actively safeguarding business decisions! (>>>Click to Analyze Your Buyers)

At Tendata, everything revolves around the customer, emphasizing products and services, and prioritizing customer experience! From the initial market research in the development phase of import and export to securing the final order, at every step, as long as you have a need, Tendata will be there! Visit the official Tendata website for more details.

>>>Consult with 1-on-1 Online Customer Service<<<