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Annual trade summary for 2024
  • Registration date2025-01-08
2024 Trade Summary Korea's Annual Exports in 2024 Hit HISTORIC HIGHS! Export $683.8 bln(+8.2% YoY) Import $632.0 bln (-1.6% YoY) Trade Balance $51.8 bln SURPLUS (+62.1 bln YoY) ※ December 2024 Monthly Trade Summary Export $61.4 bln (+6.6% YoY) Import $54.9 bln (+3.3% YoY) Trade Balance $6.5 bln Surpluys (for 19 consecutive mos.)
MOTIE Korea’s 2024 Annual Trade: Key Takeaways √ Set fresh record in 2 years since reaching previous high ($683.6 bln) in 2022 √ Jumped up 2 places to world’s 6th* largest exporter (8th in 2023) * According to WTO statistics for trade through Jan–Sep 2024 √ Achieved growth across all export items - Exports of 8 key items (chips, ships, etc.) & consumer goods (agricultural & cosmetic products) all increased √ Exports to both major & emerging destinations expanded - Exports to 3 major markets (U.S., China, ASEAN) & emerging markets (Latin America, India, Middle East, etc.) all showed growth √ Set all-time high trade surplus since 2018 ($69.7 bln)