The Sturdy Hike in the Bilateral Trade of Usa and South Korea: Key Insights of the Export Market

The increasing supplies of the United States of America towards South Korea have been steadily contributing towards the overall growth rate of the bilateral trade value of both countries. Different free trade agreements signed between both trade estates have resulted in the deduction of tariff barriers, leading to a feasible entry of United States-supplied goods into the Korean market. USA Import Data says the high quality and nutritional-rich agricultural products supplied from the United States have a very high demand in South Korea, contributing a significant share towards the annual export from the United States.

In accordance with the growing dependency of South Korea’s middle-class population on imports from the USA indulged the United States in exporting goods worth 82 billion US dollars in 2024, representative of a significant increase from 2020 worth 69.5 billion US dollars. Import Globals with its USA trade data highlights all the regional shipments of the goods supplied from the trade firms for giving a proper briefing to the information seekers looking for potential market trade deals that can get them a positive hike in their future trade global reach.

THE LEADING EXPORTED GOODS OF THE USA TO SOUTH KOREA IN 2024

To maintain a strong political trade relationship with South Korea, the United States has introduced divergent variants of global acquisitions while targeting the domestic demands of South Korea’s population. According to the USA Export Data, the top 10 exported goods of the nation to South Korea in 2024 are,

  1. Vehicles — The total valuation of Vehicles exported from the USA to South Korea in 2024–24 billion US dollars
  2. Machinery- The total valuation of Machinery exported from USA to South Korea in 2024–20 billion US dollars
  3. Electronic equipment- The total valuation of Electronic equipment exported from USA to South Korea in 2024–17 billion US dollars
  4. Pharmaceuticals- The total valuation of Pharmaceuticals exported from USA to South Korea in 2024–12 billion US dollars
  5. Aircraft and spacecraft parts- The total valuation of Aircraft and spacecraft parts exported from USA to South Korea in 2024–9 billion US dollars
  6. Plastics- The total valuation of Plastics exported from USA to South Korea in 2024–7 billion US dollars
  7. Mineral fuels — The total valuation of Mineral fuels exported from USA to South Korea in 2024–6 billion US dollars
  8. Optical and medical instruments- The total valuation of Optical and medical instruments exported from USA to South Korea in 2024–4 billion US dollars
  9. Organic chemicals- The total valuation of Organic chemicals exported from USA to South Korea in 2024–3 billion US dollars
  10. Iron and steel products- The total valuation of Iron and steel products exported from USA to South Korea in 2024–2 billion US dollars

TOP 10 EXPORTING COMPANIES OF USA THAT DRIVE EXPORTS TO SOUTH KOREA IN 2024

The overall trade growth of a nation is majorly maintained by the manufacturing units accompanied by the tourists and other attributing factors. According to the USA Customs Data, the top 10 exporting companies of the nation that mostly drive the exports of USA to South Korea in 2024 are,

  1. Boeing — The total export valuation of the goods supplied from Boeing of USA to South Korea in 2024–22 billion US dollars

Top exported goods

1. Commercial Airplanes

2. Military Aircrafts

3. Helicopters

4. Satellites

5. Avionics and Aerospace

2. Apple Inc.- The total export valuation of the goods supplied from Apple Inc of USA to South Korea in 2024–18 billion US dollars

Top exported goods

1. iPhones

2. MacBooks

3. iPads

4. AirPods

5. Apple Watches

3. ExxonMobil- The total export valuation of the goods supplied from ExxonMobil of USA to South Korea in 2024–14 billion US dollars

Top exported goods

1. Crude Oil

2. Refined Petroleum Products

3. Chemicals

4. Lubricants

5. Liquefied Natural Gas

4. General Electric- The total export valuation of the goods supplied from General Electric of USA to South Korea in 2024–11 billion US dollars

Top exported goods

1. Aircraft Engines

2. Medical Equipment

3. Renewable Energy Solutions.

4. Marine Propulsion Systems

5. Power Generation Equipment

5. Johnson & Johnson — The total export valuation of the goods supplied from Johnson & Johnson of USA to South Korea in 2024–10 billion US dollars

Top exported goods

1. Medical Devices

2. Pharmaceutical Products

3. Baby Care Products

4. Beauty and Personal Care Products

5. Over-the-counter (OTC) Medications

  1. Cargill- The total export valuation of the goods supplied from Cargill of USA to South Korea in 2024–8 billion US dollars

Top exported goods

1. Soybeans

2. Corn

3. Wheat

4. Whey protein

5. Palm Oil

7. Caterpillar Inc. — The total export valuation of the goods supplied from Caterpillar Inc. of USA to South Korea in 2024–6 billion US dollars

Top exported goods

1. Construction machinery

2. Engines

3. Industrial gas turbines

4. Mining equipment

5. Financial products

8. Procter & Gamble- The total export valuation of the goods supplied from Procter & Gamble of USA to South Korea in 2024–5 billion US dollars

Top exported goods

1. Beauty and personal care products

2. Household cleaning supplies

3. Baby care products

4. Oral care products

5. Pet care products

9. Pfizer Inc.- The total export valuation of the goods supplied from Pfizer Inc of USA to South Korea in 2024–4 billion US dollars

Top exported goods

1. Medicines for Chronic Diseases

2. Vaccines

3. Oncology Drugs

4. Nutritional Supplements

5. Self-Care Products

10. Chevron Corporation- The total export valuation of the goods supplied from Chevron Corporation of USA to South Korea in 2024–3 billion US dollars

Top exported goods

1. Crude Oil

2. Petroleum Products

3. Natural Gas

4. Chemicals

5. Distillate Fuel Oil

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