US trade in goods with South Korea in 2017

June 24, 2018 - PRLog -- In 2017, US trade with South Korea totaled $121.4 billion, up 6.35% ($7.3 billion) from 2016.

US exports to South Korea in 2017 totaled $48.3 billion, up 14.22% ($6.0 billion) from 2016.

US imports from South Korea in 2017 totaled $73.2 billion, up 1.72% ($1.2 billion) from 2016.

US trade deficit with South Korea in 2017 was $24.9 billion, a 16.09% decrease ($4.8 billion) over 2016.

South Korea was the US 6th largest trading partner in 2017 (just as in 2016), accounting for 3.0711% of US total trade (down from 3.0840% in 2016).

South Korea was the US 7th largest export market in 2017 (just as in 2016), accounting for 3.1225% of US total exports (up from 2.9085% in 2016).

South Korea was the US 6th largest supplier in 2017 (just as in 2016), accounting for 3.0381% of US total imports (down from 3.1974% in 2016).

The major share of US exports to South Korea in 2017 (and in 2016) was accounted for the following product types:
• Machinery, equipment and vehicles (HS codes 84-90) - 50.01% of US total exports to South Korea (51.66% in 2016);
• Chemical products (HS codes 28-40) - 15.23% of US total exports to South Korea (15.93% in 2016);
• Food products and agricultural raw materials (HS codes 01-24) - 14.30% of US total exports to South Korea (15.04% in 2016).

The major share of US imports from South Korea in 2017 (and in 2016) was accounted for the following product types:
• Machinery, equipment and vehicles (HS codes 84-90) - 69.53% of US total imports from South Korea (69.18% in 2016);
• Chemical products (HS codes 28-40) - 10.94% of US total imports from South Korea (12.49% in 2016);
• Metals and products from them (HS codes 72-83) - 7.68% of US total imports from South Korea (7.01% in 2016).

The full report is available here: http://us-export-import.com/south-korea/us-trade-export-i...

For more information on US international trade, please go to: http://us-export-import.com/