The following product categories represent the highest dollar value in South Korea’s import purchases during 2020. Also shown is the percentage share each product category represents in terms of overall imports into South Korea.

1. Electrical machinery, equipment: US$94.1 billion (20.1% of total imports)
2. Mineral fuels including oil: $86.6 billion (18.5%)
3. Machinery including computers: $57.4 billion (12.3%)
4. Optical, technical, medical apparatus: $19.4 billion (4.1%)
5. Vehicles: $18.2 billion (3.9%)
6. Ores, slag, ash: $15.9 billion (3.4%)
7. Organic chemicals: $12.1 billion (2.6%)
8. Plastics, plastic articles: $11.5 billion (2.5%)
9. Iron, steel: $11.1 billion (2.4%)
10. Pharmaceuticals: $8 billion (1.7%)

South Korea’s top 10 imports accounted for 71.5% of the overall value of its product purchases from other countries during 2020.

Pharmaceuticals expanded in cost from 2019 to 2020 at the fastest pace via a 12.5% increase, ahead of imported machinery including computers (up 11.1%) and vehicles (up 9%).

Leading the depreciating categories year over year were mineral fuels including oil (down -32%) then the industrial metals iron and steel (down -29.1%).

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under other virtual folder tabs is at the more granular 4-digit level.

In 2020, South Korean importers spent the most on the following 10 subcategories of electronics products.

1. Integrated circuits/microassemblies: US$40.3 billion (up 12.8% from 2019)
2. Phone system devices: $12.1 billion (down -5.5%)
3. Solar power diodes/semi-conductors: $5.1 billion (up 1.4%)
4. TV/radio/radar device parts: $3.7 billion (down -25.2%)
5. Insulated wire/cable: $3 billion (up 0.8%)
6. Electrical converters/power units: $2.5 billion (up 2%)
7. Lower-voltage switches, fuses: $2.2 billion (down -2.2%)
8. Printed circuits: $2.4 billion (up 4.7%)
9. Electric motors, generators: $2.3 billion (up 15.6%)
10. TV receivers/monitors/projectors: $1.8 billion (up 12.5%)

Among these import subcategories, South Korea’s purchases of electric motors and generators (up 15.6%), integrated circuits or microassemblies (up 12.8%) and TV receivers, monitors or projectors (up 12.5%) grew at the fastest pace from 2019 to 2020.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Korean businesses and consumers.

South Korean importers spent the most on the following 10 subcategories of mineral fuels-related products during 2020.

1. Crude oil: US$44.5 billion (down -36.7% from 2019)
2. Petroleum gases: $18.9 billion (down -21.7%)
3. Processed petroleum oils: $12.7 billion (down -25.9%)
4. Coal, solid fuels made from coal: $9.5 billion (down -32.7%)
5. Coal tar oils (high temperature distillation): $700.2 million (down -46.3%)
6. Petroleum oil residues: $44.3 million (down -62.9%)
7. Coke, semi-coke: $74.1 million (down -27.1%)
8. Petroleum jelly, mineral waxes: $36.5 million (down -5%)
9. Distilled tar: $29.2 million (down -19.4%)
10. Peat: $18.9 million (up 37.9%)

Among these import subcategories, only South Korea’s purchases of peat grew from 2019 to 2020 thanks to a 37.9% increase.

These amounts and the percentage changes within parenthesis clearly show where the strongest demand lies for different types of imported fuel among Korean businesses and consumers.

In 2020, South Korean importers spent the most on the following 10 subcategories of machinery including computers.

1. Machinery for making semi-conductors: US$15.5 billion (up 71.3% from 2019)
2. Computers, optical readers: $7.6 billion (up 13%)
3. Computer parts, accessories: $5.2 billion (down -15.3%)
4. Air or vacuum pumps: $2.7 billion (up 5.1%)
5. Miscellaneous machinery: $2 billion (down -14.8%)
6. Taps, valves, similar appliances: $2.4 billion (down -1%)
7. Centrifuges, filters and purifiers: $1.6 billion (down -6.4%)
8. Turbo-jets: $1.8 billion (up 3.9%)
9. Liquid pumps and elevators: $1.4 billion (down -8.8%)
10. Printing machinery: $1.2 billion (down -4.7%)

Among these import subcategories, South Korea’s purchases of machinery for making semi-conductors (up 71.3%), computers including optical readers (up 13%) and air or vacuum pumps (up 5.1%) grew at the fastest pace from 2019 to 2020.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Korean businesses and consumers.

In 2020, South Korean importers spent the most on the following 10 subcategories of medical and technical equipment.

1. Other measuring/testing machines: US$2.9 billion (up 17.4% from 2019)
2. Electro-medical equipment (e.g. xrays): $2.3 billion (up 3.3%)
3. Physical/chemical analysis tools: $2.2 billion (up 8.3%)
4. Oscilloscopes, spectrum analyzers: $2.1 billion (up 7.4%)
5. Optical fiber cables, sheets, plates: $1.4 billion (down -5.1%)
6. Lenses, prisms, mirrors: $1.2 billion (up 2.1%)
7. Regulate/control instruments: $1.1 billion (down -8.9%)
8. Liquid crystal/laser/optical tools: $1.1 billion (down -14.8%)
9. Orthopedic appliances: $814.6 million (down -0.5%)
10. Liquid/gas checking instruments: $725 million (down -0.9%)

Among these import subcategories, South Korea’s purchases of other measuring or testing machines (up 17.4%), physical and chemical analysis tools (up 8.3%) then oscilloscopes and spectrum analyzers (up 7.4%) grew at the fastest pace from 2019 to 2020.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported medical and technical equipment among Korean businesses and consumers.