The Valuable Insights of South Korea’s Export Market in 2024

South Korea right now has been exporting a high amount of global necessities from the country’s manufacturing units countering the GDP value. The highly developed industrial sectors and the differential targets towards the settlement of every global acquisition have been recording a hike in their annual valuation. South Korea Import Data says the tie-up of the nation with leading companies like Samsung, Hyundai, and LG accompanied by the free trade agreements with countries like the US and the E.U is fostering the solidifying progression towards global trade expansion. The rising dependency on foreign imported goods for domestic raw material acquisitions has indulged the nation in maintaining economic stability surpassing the unstable trade rate.

The growing global acquisitions from the trade firms of South Korea and the continuous efforts towards progression in building the trade gaps with leading authorities have made the country export products worth 650 billion US dollars in 2024. Import Globals with its South Korea Trade Data highlights all the regional shipments of the nation towards the country’s growing acquisitions for helping the business owners in acknowledgement of the proper trade strategies they can adapt to: to record a positive hike in its potential trade reach.

TOP 10 EXPORTED GOODS OF SOUTH KOREA IN 2024

The country has induced divergent variants of global acquisitions in its services to expand its annual valuation. According to the South Korea Export Data, the top 10 exported goods of the nation in 2024 are,

  1. Semiconductors — Export trade value of Semiconductors in South Korea 2024–152 billion US dollars
  2. Vehicles — Export trade value of Vehicles in South Korea 2024–98 billion US dollars
  3. Machinery — Export trade value of Machinery in South Korea 2024–75 billion US dollars
  4. Petrochemicals — Export trade value of Petrochemicals in South Korea 2024–64 billion US dollars
  5. Plastics and Plastic Articles — Export trade value of Plastics and Plastic Articles in South Korea 2024–53 billion US dollars
  6. Iron and Steel — Export trade value of Iron and Steel in South Korea 2024–47 billion US dollars
  7. Organic Chemicals — Export trade value of Organic Chemicals in South Korea 2024–35 billion US dollars
  8. Ships and Boats — Export trade value of Ships and Boats in South Korea 2024–28 billion US dollars
  9. Optical, Technical, Medical Apparatus — Export trade value of Optical, Technical, Medical Apparatus in South Korea 2024–24 billion US dollars
  10. Inorganic Chemicals — Export trade value of Inorganic Chemicals in South Korea 2024–18 billion US dollars

TOP 10 EXPORT TRADE PARTNERS OF SOUTH KOREA IN 2024

The savior trade agreements signed between the government authorities of the regions with closer geographical proximity have made South Korea trade its beneficial productions with different trade destinations worldwide. According to the South Korea Customs Data, the top 10 export trade partners of the nation in 2024 are,

  1. China — The total valuation of the goods exported from South Korea to China in 2024–132 billion US dollars

TOP EXPORTED GOODS

a. Semiconductors

b. Automobiles

c. Petrochemicals

d. Ships and boats

e. Wireless communication devices

2. United States — The total valuation of the goods exported from South Korea to the United States in 2024–87 billion US dollars

TOP EXPORTED GOODS

a. Computers

b. Displays

c. General Machinery

d. Petroleum products

e. Bio-health products

3. ASEAN — The total valuation of the goods exported from South Korea to ASEAN in 2024–63 billion US dollars

TOP EXPORTED GOODS

a. Cosmetic products

b. Agricultural products

c. Fishery products

d. Livestock products

e. Steel products

4. Japan — The total valuation of the goods exported from South Korea to Japan in 2024–47 billion US dollars

TOP EXPORTED GOODS

a. Textiles

b. Clothing and apparel

c. Footwear

d. Household appliances

e. Furniture

5. Latin America — The total valuation of the goods exported from South Korea to Latin America in 2024–35 billion US dollars

TOP EXPORTED GOODS

a. Plastic products

b. Rubber products

c. Ceramic products

d. Glass products

e. Paper and paperboard

6. India — The total valuation of the goods exported from South Korea to India in 2024–29 billion US dollars

TOP EXPORTED GOODS

a. Printed materials

b. Pharmaceuticals

c. Medical devices

d. Optical instruments

e. Measuring instruments

7. Middle East — The total valuation of the goods exported from South Korea to the Middle East in 2024–18 billion US dollars

TOP EXPORTED GOODS

a. Watches and clocks

b. Musical instruments

c. Toys and games

d. Sports equipment

e. Bicycles

8. European Union– The total valuation of the goods exported from South Korea to the European Union in 2024–15 billion US dollars

TOP EXPORTED GOODS

a. Microscopes

b. Surveying instruments

c. Automatic data processing machines

d. Navigational instruments

e. Cash registers

9. Vietnam — The total valuation of the goods exported from South Korea to Vietnam in 2024–12 billion US dollars

TOP EXPORTED GOODS

a. Washing machines

b. Refrigerators

c. Air conditioners

d. Vacuum cleaners

e. Dishwashers

10. Hong Kong — The total valuation of the goods exported from South Korea to Hong Kong in 2024–10 billion US dollars

TOP EXPORTED GOODS

a. Juicers

b. Vacuum cleaners

c. Microwave ovens

d. Printed circuits

e. Musical instruments

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