13 Mar, 07:31

Trade turnover between Russia, South Korea loses 24% in 2024

The Republic of Korea imported goods worth $6.8 bln from Russia last year

SEOUL, March 13. /TASS/. Trade turnover between Russia and the Republic of Korea lost 24% in 2024 compared with the previous year, according to data published by the South Korean customs service.

According to figures released on its website, trade turnover totaled $11.3 bln in 2024, and $15 bln in 2023, hitting the lowest level since 2009 when it amounted to around $9.8 bln.

The Republic of Korea imported goods worth $6.8 bln from Russia last year, with mineral fuel ($3.5 bln), fish and seafood ($897 mln), and aluminium ($877 mln) being among leading import items. South Korea supplied goods worth $4.5 bln to Russia in 2024, with "vehicles for land transport, apart from railway and tram trains" exported most of all.

In 2023, exports from the Republic of Korea to Russia amounted to $6.1 bln, while imports reached $8.8 bln. In 2022, exports and imports equaled $6.3 bln and $14.8 bln, respectively.

After the beginning of the special military operation the Republic of Korea joined anti-Russia sanctions. Export control was introduced on trade with Russia and Belarus, with a respective list containing 1,402 items now.

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Trade & Cooperation

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