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2022
Flag → Flag
Exports $1.18BRnk 52 / 220
2022
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Top Product $274MCars
2022
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Exports $1.3BRnk 22 / 210
2022
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Top Product $316MPackaged Medicaments
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 1.27Rnk 18 / 133
2022
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GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
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2022
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 GDP$529BCURRENT US$
Rnk 26 / 186
2012-2022
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GDP GROWTH135%CURRENT US$
Rnk 7 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$104,039CURRENT US$
Rnk 4 / 186
2012-2022
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GDP PC GROWTH112%CURRENT US$
Rnk 7 / 186

About

South Korea-Ireland Trade: In 2022, South Korea exported $1.18B to Ireland. The main products that South Korea exported to Ireland were Cars ($274M), Blank Audio Media ($224M), and Office Machine Parts ($130M). Over the past 5 years the exports of South Korea to Ireland have increased at an annualized rate of 6.81%, from $848M in 2017 to $1.18B in 2022.

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

Ireland-South Korea Trade: In 2022, Ireland exported $1.3B to South Korea. The main products that Ireland exported to South Korea were Packaged Medicaments ($316M), Vaccines, blood, antisera, toxins and cultures ($240M), and Orthopedic Appliances ($197M). Over the past 5 years the exports of Ireland to South Korea have increased at an annualized rate of 4.19%,  from $1.06B in 2017 to $1.3B in 2022.

In 2020, Ireland exported services to South Korea worth $811M, with Other business services ($730M), Royalties and license fees ($36.6M), and Financial services ($30.8M) being the largest in terms of value.

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Ireland ranked 18 in the Economic Complexity Index (ECI 1.27), and 31 in total exports ($236B).

Latest Trends

July, 2024

About

Overview In July 2024, South Korea exported $58.3M and imported $116M from Ireland, resulting in a negative trade balance of $57.2M. Between July 2023 and July 2024 the exports of South Korea have decreased by $-1.27M (-2.14%) from $59.6M to $58.3M, while imports decreased by $-10.9M (-8.61%) from $126M to $116M.

Trade In July 2024, the top exports of South Korea to Ireland were Cars, tractors, trucks & parts thereof. ($19.8M), Organic chemicals ($13.8M), Machinery, mechanical appliances, & parts ($9.26M), Plastics & articles thereof ($3.56M), and Electrical machinery and electronics ($887k). In July 2024 the top imports of South Korea from Ireland were Pharmaceutical products ($78.9M), Optical, photo, & film equipment; medical... ($25.3M), Machinery, mechanical appliances, & parts ($4.67M), Miscellaneous edible preparations ($4.1M), and Electrical machinery and electronics ($3.91M).

Growth In July 2024, the decrease in South Korea's year-by-year exports to Ireland was explained primarily by an decrease in product exports in Electrical machinery and electronics ($-8.86M or -90.9%), Cars, tractors, trucks & parts thereof. ($-2.84M or -12.6%), and Coated, covered, & laminated fabrics for... ($-857k or -70.1%). In July 2024, the decrease in South Korea's year-by-year imports  from Ireland was explained primarily by an decrease in product imports  in Optical, photo, & film equipment; medical... ($-9.27M or -26.8%), Machinery, mechanical appliances, & parts ($-3.61M or -43.6%), and Meat & edible offal ($-966k or -28.4%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$-1.27M(-2.14%)
IMPORT GROWTH (July 2023 - July 2024)$-10.9M(-8.61%)

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 Ireland and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Ireland and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $1.18B to Ireland. The main products exported from South Korea to Ireland were Cars ($274M), Blank Audio Media ($224M), and Office Machine Parts ($130M). During the last 5 years the exports of South Korea to Ireland have increased at an annualized rate of 6.81%, from $848M in 2017 to $1.18B in 2022.

In 2017, Ireland exported $1.3B to South Korea. The main products exported from Ireland to South Korea were Packaged Medicaments ($316M), Vaccines, blood, antisera, toxins and cultures ($240M), and Orthopedic Appliances ($197M). During the last 5 years the exports of Ireland to South Korea have increased at an annualized rate of 4.19%, from $1.06B in 2022 to $1.3B in 2017.

Exports from South Korea (Flag) to Ireland (Flag) (2022)

Exports from Ireland (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Ireland
Top DestinationUnited States$70.7B

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

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

In 2022, countries that imported more from Ireland than South Korea included Germany ($28.6B), Belgium ($17B), and United Kingdom ($19B).

Difference in imports from Ireland (Flag) and South Korea (Flag) (2022)

Comparative Advantage South Korea - Ireland

Flow
Scale

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

During 2022, South Korea had a large net trade with Ireland in the exports of Machines ($490M), Transportation ($438M), and Chemical Products ($111M).

During 2017, Ireland had a large net trade with South Korea in the exports of Chemical Products ($605M), Instruments ($339M), and Machines ($193M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Ireland+$73.2MCars
Top Product Potential Ireland South Korea+$101MVaccines, blood, antisera, toxins and cultures

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2020, Ireland exported services to South Korea worth $811M, with Other business services ($730M), Royalties and license fees ($36.6M), and Financial services ($30.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Ireland (Flag) to South Korea (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of South Korea (Flag) and Ireland (Flag) (2022)

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