South Korea’s Fastest-Growing Import Partners

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After analyzing 2014 data for 100 countries responsible for consuming the greatest dollar value in imports from South Korea, we found 10 nations that boosted their Korean imports by triple digits in 2014 compared to 2010.

Among South Korean trade partners that increased their imports at the greatest pace are countries located faraway in Europe, Central/South America and Africa.

South Korea’s Fastest-Growing Import Partners

Listed below in descending order below are the fastest-growing import countries for South Korean exported products. These nations boosted imports from South Korea by the greatest percentages over the five-year period ending in 2014.

  1. Luxembourg: US$572,388,000 (up 2,684% since 2010)
  2. Fiji: $308,156,000 (up 1,554%)
  3. Angola: $1,799,967,000 (up 1,039%)
  4. Brunei Darussalam: $290,269,000 (up 345.9%)
  5. Denmark: $2,234,938,000 (up 298.0%)
  6. Tanzania: $333,047,000 (up 210.3%)
  7. Papua New Guinea: $247,757,000 (up 199.0%)
  8. Slovenia: $1,665,424,000 (up 184.1%)
  9. Côte d’Ivoire: $218,834,000 (up 132.5%)
  10. Viet Nam: $22,332,858,000 (up 131.4%)
  11. Cambodia: $654,540,000 (up 96.6%)
  12. Qatar: $905,027,000 (up 91.5%)
  13. New Zealand: $1,738,703,000 (up 89.3%)
  14. Lithuania: $216,591,000 (up 88.6%)
  15. Kuwait: $1,975,586,000 (up 88.4%)


 
Cruise ships, cargo vessels and barges were among the fastest-growing South Korean products delivered to Luxembourg.

Fiji greatly increased its imports of oil and copper wire from the Republic of Korea.

South Korea also accelerated its sales of floating or submersible drilling or production platforms to Angola from 2010 to 2014.

Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on January 27, 2015

The World Factbook, Field Listing: Imports, Central Intelligence Agency. Accessed on January 27, 2015

Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on January 27, 2015