Overview of Korean Goods Trade and China-Korea Bilateral Trade in January 2021

1. Overview of Korean goods trade in January 2021

According to Korea Customs and Trade Development Institution statistics, in January (monthly), the import and export volume of Korean goods was US$92.25252 billion, a year-on-year increase of 7.49%. Among them, exports were US$4.801653 million, an increase of 11.38%; imports were US$44.23598 billion, an increase of 3.56%. The trade surplus was 3.78055 billion US dollars, an increase of 861.36%.

In the first January of 2021 (cumulative), the import and export volume of South Korean goods was US$92.25252 billion, a year-on-year increase of 7.49%. Among them, exports were US$4.801653 million, an increase of 11.38%; imports were US$44.23598 billion, an increase of 3.56%. The trade surplus was 3.78055 billion US dollars, an increase of 861.36%.

In terms of country (region), China, the United States, Vietnam, Japan, and Taiwan are South Korea’s top five trading partners. In January 2021 (cumulative) South Korea’s imports and exports to the five countries/regions were 22.534 billion, 13.39804 billion, and 66.7251. Billion, 6.15932 billion, and 3.36877 billion U.S. dollars, an increase of 18.16%, an increase of 18.37%, an increase of 12.60%, an increase of 10.03%, and an increase of 31.50%, accounting for 24.43%, 14.52%, 7.23%, 6.68%, and 3.65% of South Korea’s imports and exports. .

Import and export situation between South Korea and five countries/regions in the first January of 2021 (cumulative)

China, the United States, Vietnam, Hong Kong, and Japan are the top five countries/regions in South Korea’s export ranking. In the previous January, South Korea’s exports to the five countries/regions were 11.79119 billion, 8.364 trillion, 4.671 billion, 2.44299 billion, and 2.22829 billion US dollars, an increase of 22.28. %, an increase of 45.80%, an increase of 13.59%, an increase of 11.36%, and a decrease of 8.48%, accounting for 24.56%, 17.43%, 9.66%, 5.09%, 4.64% of South Korea’s exports.

South Korea’s exports to five countries/regions in the first January of 2021 (cumulative)

China, the United States, Japan, Vietnam, and Australia are the top five import countries/regions in South Korea. In the first January, South Korea imported 10.74361 billion, 5.0286.4 billion, 3.93103 billion, 2.0354.1 billion, and 1.82234 million U.S. dollars from five countries/regions, an increase of 13.96 respectively. %, down 9.85%, up 24.27%, up 10.40%, down 5.40%, accounting for 24.29%, 11.37%, 8.89%, 4.60%, 4.12% of South Korea’s imports.

Korea's imports from five countries/places in the first January of 2021 (cumulative)

The trade surplus mainly came from the United States, Vietnam, Hong Kong, China, and India. The surpluses in the previous January were 3.34077 billion, 2.607 billion, 2.205.9 billion, 1.04758 million, and 708.69 million U.S. dollars, an increase of 1958.31%, 16.22%, and 6.71%, respectively. An increase of 387.03% and an increase of 7.21%. The trade deficit mainly came from Japan, Australia, Saudi Arabia, Qatar, and Germany. The deficits in the previous January were 1.70274 billion, 1.206.1 billion, 1.0443.4 billion, 89572 million, and 521.11 million US dollars, an increase of 133.72%, a decrease of 12.46%, and a decrease of 40.87%. , Decrease 15.51%, Decrease 14.94%.

The surplus and deficit situation between South Korea and the five countries/regions in the first January of 2021 (cumulative)

In terms of commodities (chapters), chapters 85, 84, 27, 87, and 39 are South Korea’s top five trade commodities. The total import and export volume in the first January of 2021 is 23.202 billion, 11.68025 billion, and 10.11486 billion, respectively. , 6.92538 billion, and 4.0931.3 billion US dollars, an increase of 21.01%, an increase of 20.55%, a decrease of 34.93%, an increase of 26.42%, and an increase of 18.38%, accounting for 25.17%, 12.66%, 10.96%, 7.51%, and 4.44% of South Korea’s imports and exports.

Commodity (chapter) imports and exports in the first January of 2021 (cumulative)

Chapters 85, 87, 84, 89, and 39 are South Korea’s top five export commodities. The exports in the previous month were 14.39312 billion, 5.6122.8 billion, 5.48881 billion, 3.42932 billion, and 3.446.6 billion U.S. dollars, an increase of 21.44%. An increase of 27.04%, a decrease of 1.87%, an increase of 24.61%, an increase of 19.24%, accounting for 29.98%, 11.69%, 11.43%, 7.14%, and 6.34% of South Korea’s exports.

Commodity (chapter) exports in the first January of 2021 (cumulative)

Chapters 85, 27, 84, 90, and 26 are South Korea’s top five imported goods. The imports in the previous January were 8.8271.0 billion, 817398 billion, 6.19144 billion, 1.99599 billion, and 1.68727 billion U.S. dollars, an increase of 20.32%, respectively. A decrease of 32.25%, an increase of 51.15%, an increase of 40.07%, and an increase of 31.10%, accounting for 19.95%, 18.48%, 14.00%, 4.51%, 3.81% of South Korea’s imports.

Commodity (chapter) imports in the first January of 2021 (cumulative)

In terms of commodities (category), machinery and appliances, mineral products, transportation equipment, chemical products, and base metals are South Korea’s top five trade commodities. In January 2021 (cumulative) imports and exports were 34.90046 billion, 11.96623 billion, and 10.8033 billion, respectively. , 860472 million, and 684,526 million US dollars, an increase of 20.85%, a decrease of 29.45%, an increase of 20.63%, an increase of 16.66%, and an increase of 4.99%, accounting for 37.83%, 12.97%, 11.71%, 9.33%, and 7.42% of South Korea’s imports and exports.

Import and export of commodities (category) in the first January of 2021 (cumulative)

Machinery and equipment, transportation equipment, chemical products, base metals, and plastics and rubber are South Korea’s top five export commodities. The exports in the previous January were 19.88192 billion, 9.19814 billion, 4.59845 million, 3.88151 million, and 3.75377 million, an increase of 13.97%, respectively. An increase of 22.77%, an increase of 25.70%, an increase of 8.43%, an increase of 20.78%, accounting for 41.41%, 19.16%, 9.58%, 8.08%, 7.82% of South Korea’s exports.

(Cumulative) commodity (category) exports in the first January of 2021

Machinery and appliances, mineral products, chemical products, base metals, and instrumentation are South Korea’s top five imported commodities. The imports in the previous January were 15.01853 billion, 9.94294 billion, 4.0062.6 billion, 2.96375 billion, and 2.07607 billion US dollars, an increase of 31.36%, respectively. A decrease of 26.00%, an increase of 7.76%, an increase of 0.80%, and an increase of 35.95%, accounting for 33.95%, 22.48%, 9.06%, 6.70%, and 4.69% of South Korea’s imports.

Commodity (category) imports in the first January of 2021 (cumulative)

2. Overview of bilateral trade between China and South Korea in the first January of 2021

According to statistics from the Korea Customs and Trade Development Institution, in the first January of 2021 (cumulative), the bilateral import and export volume of goods between South Korea and China was US$22.534 billion, an increase of 18.16% year-on-year. Among them, South Korea's exports to China were 11.79119 billion US dollars, a year-on-year increase of 22.28%; South Korea's imports from China were 10.74361 billion US dollars, a year-on-year increase of 13.96%. The trade surplus between South Korea and China was US$1.04758 billion, a year-on-year increase of 387.03%.

In terms of commodities (chapters), chapters 85, 84, 39, 90, and 29 are the top five bilateral trade commodities. In the first January of 2021 (cumulative) imports and exports were 8.86334 billion, 2.82867 million, 1.31415 million, respectively. 1.1955.1 billion and 1.15408 billion US dollars, an increase of 28.05%, an increase of 9.27%, an increase of 26.67%, an increase of 27.26%, an increase of 2.61%, accounting for 39.33%, 12.55%, 5.83%, 5.31%, and 5.12% of bilateral imports and exports.

Import and export of bilateral commodities (chapter) in the first January of 2021 (cumulative)

Chapters 85, 84, 39, 90, and 29 are South Korea’s top five export commodities to China. The exports in the previous month were 4.82703 billion, 1.30471 million, 9664 billion, 92401 million, and 71176 million U.S. dollars, an increase of 28.85% respectively. , An increase of 2.35%, an increase of 25.90%, an increase of 41.35%, and a decrease of 11.31%, accounting for 40.94%, 11.07%, 8.20%, 7.84%, 6.04% of South Korea’s exports to China.

South Korean exports to China (chapter) in the first January of 2021 (cumulative)

Chapters 85, 84, 29, 28, and 39 are South Korea’s top five imports from China. The imports in the previous January were 4.03631 million, 1.539.6 million, 442.32 million, 4106.0 million, and 3477.5 million U.S. dollars, an increase of 27.11% respectively. , An increase of 15.97%, an increase of 37.28%, a decrease of 4.65%, an increase of 28.87%, accounting for 37.57%, 14.18%, 4.12%, 3.82%, 3.24% of South Korea’s imports from China.

The status of Korea's imports from China (chapter) in the first January of 2021 (cumulative)

In terms of commodities (category), mechanical appliances, chemical products, base metals, plastics, rubber, and instrumentation are the top five bilateral trade commodities. In January 2021 (cumulative) imports and exports were respectively 11.69202 billion, 2.88615 billion, 1.59736 billion, 1.44347 billion and 1.21881 billion US dollars, an increase of 22.13%, an increase of 22.49%, an increase of 27.38%, an increase of 41.34%, an increase of 7.20%, accounting for 51.88%, 12.81%, 7.09%, 6.41%, and 5.41% of bilateral imports and exports.

Import and export of bilateral commodities (category) in the first January of 2021 (cumulative)

Machinery and appliances, chemical products, plastics and rubber, instruments and meters, and mineral products are South Korea’s top five export commodities to China. The exports in the previous month were 6.13174 billion, 1.71562 million, 1.05102 million, 925.9 million, and 72772 million US dollars, an increase of 22.13% respectively. , An increase of 22.49%, an increase of 27.38%, an increase of 41.34%, an increase of 7.20%, accounting for 52.00%, 14.55%, 8.91%, 7.85%, and 6.17% of South Korea’s exports to China.

South Korea’s exports to China in the first January of 2021 (cumulative)

Machinery and appliances, chemical products, base metals, textile raw materials, and miscellaneous products are South Korea’s top five imports from China. The imports in the previous month were 5.56027 billion, 1.17053 million, 921.4 million, 487.26 million, and 435.95 million US dollars, an increase of 23.85% respectively. , Increased by 14.08%, decreased by 4.92%, decreased by 3.89%, increased by 10.12%, accounting for 51.75%, 10.90%, 8.58%, 4.54%, 4.09% of South Korea’s imports from China.

Korea's imports from China in the first January of 2021 (cumulative)

3. Analysis of import and export trends

Monthly export value change trend chart-to the world

Monthly export volume change trend chart-to China

Monthly import volume change trend chart-from the world

Monthly import volume change trend chart-from China

Annual export value change trend chart-to the world

Annual export value change trend chart-to China

Annual import value change trend chart-from the world

Annual import value change trend chart-from China