Trade Settlement Currency in Korea 2022
♦The settlement currency for exports:
U.S. dollar(85.0%), Euro(5.8%), Japanese yen(2.3%), Korean won(2.3%), Chinese yuan(1.6%)
♦The settlement currency for imports:
U.S. dollar(82.8%), Korean won(6.1%), Euro(4.8%), Japanese yen(3.9%), Chinese yuan(1.7%)
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Export Settlement Currency
□ The U.S. dollar represented the largest proportion (85.0%) of settlement currencies for Korean exports in
2022. The euro (5.8%) took the second highest share, followed by the Japanese yen (2.3%), and the Korean
won (2.3%).
― Exports to the European Union:
Euro (47.2%), U.S. Dollar (46.4%), Won (4.5%), Yen (0.3%)
― Exports to Japan:
U.S. Dollar (53.7%), Yen (40.6%), Won (5.5%), Euro (0.2%)
― Exports to China:
U.S. Dollar (89.2%), Yuan (7.1%), Won (2.1%), Yen (1.2%)
― Exports to the Middle East:
U.S. Dollar (88.8%), Won (6.3%), Euro (4.3%)
Import Settlement Currency
□ For import settlement in 2022, the U.S. dollar accounted for 82.8%, followed by the Korean won (6.1%), the euro (4.8%), and the Japanese yen (3.9%).
― Imports from the European Union:
Euro (43.3%), Won (30.5%), U.S. Dollar (24.4%), Yen (0.5%)
― Imports from Japan:
U.S. Dollar (47.0%), Yen (46.4%), Won (6.1%), Euro (0.4%)
― Imports from China:
U.S. Dollar (87.5%), Yuan (7.8%), Won (2.9%), Euro (0.9%)
― Imports from Southeast Asia:
U.S. Dollar (94.1%), Won (3.2%), Yen (1.1%), Euro (0.9%)
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