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South-Korea import

South Korea Import Data

The Republic of South Korea is another name for South Korea. The nation, which includes a section of the Korean Peninsula, is situated in eastern Asia. Three nations—North Korea, China, and Japan—share borders with South Korea. The world's fifth-largest center for nuclear weapons development is located in South Korea. The year 2022 has witnessed significant changes in South Korea's import industry. With a booming economy and increased global trade, the demand for accurate and up-to-date import data has become crucial for businesses wanting to make informed decisions. According to South Korea’s import data, its total imports accounted worth $731.36 billion in 2022. Goods exports grew by $116 billion in 2022 as compared to the previous year. Let us delve into the intricacies of South Korea's import data for 2022, highlighting its importance, trends, and impact on various sectors.

South Korea Import Data | South Korea Customs Data

9

The country has been ranked 9th in global imports, showing a significant position in the international trade landscape and import market.

2.58%

With a mere 2.58% share in global import trade, it becomes evident that its presence in the international import market is fairly on the rise.

CHINA

China holds a significant role as the largest import partner of the country in terms of goods imports and import share.

PETROLEUM OIL AND CRUDE

Petroleum oil and crude are the biggest import commodities of the country, playing a vital role in its economy.

import

Top 10 imports of South Korea

South Korea's position as a global economic powerhouse is reinforced by its robust import sector, with a diverse range of goods entering the country. As for the top 10 imports, South Korea relies heavily on petroleum and petroleum products, followed closely by electronic integrated circuits. The top 10 imports of South Korea in 2022 according to the import data are:

  • Petroleum oils and oils obtained from bituminous minerals: 14.4% ($105 billion)
  • Electronic integrated circuits: 8.53% ($62 billion)
  • Petroleum gases and other gaseous hydrocarbons: 7.75% ($56 billion)
  • Coal; briquettes, and similar solid fuels manufactured from coal: 3.84% ($28 billion)
  • Oils from bituminous minerals, waste oils: 3.59% ($26 billion)
  • Machines and apparatus: 2.75% ($20 billion)
  • Motor cars and other motor vehicles: 1.92% ($14 billion)
  • Electrical apparatus for line telephony or line telegraphy: 1.69% ($12.3 billion)
  • Automatic data processing machines: 1.29% ($9.5 billion)
  • Iron ores and concentrates, including roasted iron pyrites: 1.21% ($8.92 billion)
    • Partners

    Top 10 Import Partners of South Korea

    In terms of import partners, China takes the lead as South Korea's main collaborator,accounting for a significant portion of its imports. South Korea's emphasis on diversifying and strengthening its import partnerships highlights its commitment to a well-balanced andinter connected global economy. South Korea’s top 10 import partners in 2022 include:

    Value In Percentage(%)

  • China: 21% (154 billion US$)
  • USA: 11.2% (82 billion US$)
  • Japan: 7.48% (54 billion US$)
  • Australia: 6.14% (44 billion US$)
  • Saudi Arabia: 5.69% (41 billion US$)
  • Other Asian nations: 3.86% (28 billion US$)
  • Vietnam: 3.65% (26 billion US$)
  • Germany: 3.22% (23 billion US$)
  • Qatar: 2.26% (16.5 billion US$)
  • Indonesia: 2.15% (15.7 billion US$)
    • Sample Data

    Analyzing the South Korea Import Data

    We obtain trustworthy data from organizations, shipping businesses, and customs ports. This Trade Data contains a wide range of fields, such as HS codes, product descriptions, prices, quantities, origin country, destination country, and port names together with currency values. For traders and marketers, this trade data is crucial information that helps them to make informed decisions. From the HS codes and product descriptions to the quantity and cost of each product, everything can be obtained through this trade data. We have included a sample of this trade data for your convenience and greater understanding so that you can see what the trade data looks like as a whole, with complete details.

    The information given by the customs database regarding South Korean import and trade data is highly helpful, accurate, and informative. Our data is based on import shipment information as well as current and new shipping bills, invoices, and other crucial shipments required for trading. According to the import data of South Korea, the country exported goods worth $731 in 2022, with an increase of 18.9% compared to 2021. An abundant amount of information is found in South Korea’s import data, which is derived from South Korean trade statistics. Everything is covered, including the meaning of each HS code, starting with the codes in particular.

    Benefits

    Benefits of the South Korea Import Data

  • Find out what South Korea's current product demand is.
  • Determine possible leads from the international export market.
  • Monitor Your Rivals and surpass them in position.
  • Utilize a data-driven marketing approach for imports.
  • Increase the visibility of your brand in the South Korean market.
  • Double your revenue and set long-term goals for your company.

    • Frequently Asked Questions!!

    The total value of South Korea’s imports in 2022 was $731 billion.

    The goods exports increased to 18.9% in 2022.

    North Korea, China, and Japan share boundaries with South Korea.

    Trade Analysis, Market research, Competitive Analysis, Supply Chain Management, Industry and Sector Analysis, and Economic Trends are the major key points of South Korea’s import data.

    Petroleum oils and oils from bituminous minerals are the top import categories in 2022.

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