South Korea (KOR) and South Africa (ZAF) Trade | The Observatory of Economic Complexity

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South Korea (KOR) and South Africa (ZAF) Trade

2022

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Exports $1.04BRnk 49 / 220

2022

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About

South Korea-South Africa Trade: In 2022, South Korea exported $1.04B to South Africa. The main products that South Korea exported to South Africa were Cars ($189M), Refined Petroleum ($153M), and Aluminium Plating ($86.6M). Over the past 5 years the exports of South Korea to South Africa have increased at an annualized rate of 11.1%, from $617M in 2017 to $1.04B in 2022.

In 2005, South Korea exported services to South Africa worth $94.6M, with Transportation ($80.7M), Travel ($6.9M), and Other business services ($4.1M) being the largest in terms of value.

South Africa-South Korea Trade: In 2022, South Africa exported $2.12B to South Korea. The main products that South Africa exported to South Korea were Coal Briquettes ($1.37B), Iron Ore ($531M), and Platinum ($193M). Over the past 5 years the exports of South Africa to South Korea have increased at an annualized rate of 10.8%, from $1.27B in 2017 to $2.12B in 2022.

In 2022, South Africa did not export any services to South Korea.

Comparison: In 2022, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, South Africa ranked 59 in the Economic Complexity Index (ECI 0.076), and 34 in total exports ($147B).

Latest Trends

April, 2024

About

Overview In April 2024, South Korea exported $55.3M and imported $195M from South Africa, resulting in a negative trade balance of $139M. Between April 2023 and April 2024 the exports of South Korea have decreased by $-18.7M (-25.3%) from $74.1M to $55.3M, while imports decreased by $-155M (-44.4%) from $350M to $195M.

Trade In April 2024, the top exports of South Korea to South Africa were Cars, tractors, trucks & parts thereof. ($24.5M), Machinery, mechanical appliances, & parts ($13.1M), Mineral fuels, mineral oils and products... ($7.5M), Plastics & articles thereof ($5.63M), and Aluminum articles ($4.91M). In April 2024 the top imports of South Korea from South Africa were Mineral fuels, mineral oils and products... ($141M), Ores, slag and ash ($57M), Precious stones, metals, & pearls ($33.3M), Cars, tractors, trucks & parts thereof. ($32.3M), and Iron & steel ($11.7M).

Growth In April 2024, the decrease in South Korea's year-by-year exports to South Africa was explained primarily by an decrease in product exports in Mineral fuels, mineral oils and products... ($-20.2M or -72.9%), Plastics & articles thereof ($-4.78M or -45.9%), and Electrical machinery and electronics ($-2.26M or -50%). In April 2024, the decrease in South Korea's year-by-year imports from South Africa was explained primarily by an decrease in product imports in Ores, slag and ash ($-72.1M or -55.9%), Iron & steel ($-24.1M or -67.4%), and Copper articles ($-5.86M or -100%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (April 2023 - April 2024)$-18.7M(-25.3%)

IMPORT GROWTH (April 2023 - April 2024)$-155M(-44.4%)

This section shows exports and imports data at subnational level for South Korea. Click any date in the line plot or any product to explore the exports or imports behavior of South Korea over time.

To check South Africa and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, South Korea exported $1.04B to South Africa. The main products exported from South Korea to South Africa were Cars ($189M), Refined Petroleum ($153M), and Aluminium Plating ($86.6M). During the last 5 years the exports of South Korea to South Africa have increased at an annualized rate of 11.1%, from $617M in 2017 to $1.04B in 2022.

In 2017, South Africa exported $2.12B to South Korea. The main products exported from South Africa to South Korea were Coal Briquettes ($1.37B), Iron Ore ($531M), and Platinum ($193M). During the last 22 years the exports of South Africa to South Korea have increased at an annualized rate of 10.8%, from $1.27B in 1995 to $2.12B in 2017.

Exports from South Korea () to South Africa () (2022)

Exports from South Africa () to South Korea () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

South Korea
Top DestinationChina$150B

South Africa
Top DestinationChina$23.4B

This map shows whether countries import more from South Korea or South Africa. Each country is colored based on the difference in imports they receive from South Korea and South Africa or the difference in the growth in imports.

In 2022, countries that imported more from South Korea than South Africa included China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2022, countries that imported more from South Africa than South Korea included Botswana ($4.74B), Switzerland ($6.43B), and Namibia ($3.3B).

Difference in imports from South Africa () and South Korea () (2022)

Comparative Advantage South Korea - South Africa

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between South Korea and South Africa by product, considering products traded by both, South Korea and South Africa.

During 2022, South Korea had a large net trade with South Africa in the exports of Transportation ($284M), Machines ($246M), and Mineral Products ($209M).

During 2017, South Africa had a large net trade with South Korea in the exports of Mineral Products ($2.09B), Metals ($245M), and Precious Metals ($193M).

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of South Korea and South Africa. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over South Africa. Similarly, a dot/product with the flag of South Africa indicates it has a comparative advantage over South Korea.

Product Space of South Korea () and South Africa () (2022)

Keep Exploring

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