The Bank of Korea released its “Trade Settlement Currency in Korea 2024” statistics, reporting the currency composition used to settle Korea’s exports and imports. For exports, settlements were predominantly in the U.S. dollar (84.5%), followed by the euro (6.0%), Korean won (2.7%), Japanese yen (2.0%) and Chinese yuan (1.5%). For imports, the U.S. dollar accounted for 80.3%, followed by the Korean won (6.3%), euro (5.7%), Japanese yen (3.7%) and Chinese yuan (3.1%).
Bank of Korea 2025-04-14
Bank of Korea publishes 2024 trade settlement currency data showing US dollar at 84.5% of export settlements and 80.3% of imports
The Bank of Korea published the "Trade Settlement Currency in Korea 2024" statistics, detailing the currency composition for export and import settlements. Exports were mainly settled in U.S. dollars (84.5%), with the euro, Korean won, Japanese yen, and Chinese yuan following. Imports were also predominantly in U.S. dollars (80.3%), with the Korean won, euro, Japanese yen, and Chinese yuan as secondary currencies.