South Korea was the EU's 8th largest partner for imports in 2018 (3% of total extra-EU imports) and also the 8th largest for EU exports (3% of total extra-EU exports).
The EU ran a trade deficit with South Korea (meaning that it imported more than it exported) from 2008 to 2012. This trade deficit turned into a surplus in 2013, but back to a deficit in 2017. In 2018, the deficit reached €2 billion.
EU exports to South Korea were dominated by "machinery and vehicles", "chemicals" and "other manufactured goods", which together accounted for 85% of EU exports to South Korea. These categories dominated imports even more, making up 95% of EU imports from South Korea. At a more detailed level, "cars and motor vehicles" were both the EU’s most exported product to South Korea and the most imported product from South Korea.
Germany: main trader with South Korea among the Member States
Among the Member States, Germany was the largest importer of goods from South Korea (€9 billion), and also the largest exporter to South Korea in 2018 (€18 billion).
For further information:
- Statistics Explained article South Korea-EU international trade in goods statistics
- Overview of statistics on international trade in goods
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