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2022
Flag → Flag
Exports $930MRnk 58 / 220
2022
Flag → Flag
Top Product $228MRefined Petroleum
2022
Flag → Flag
Exports $298MRnk 35 / 208
2022
Flag → Flag
Top Product $66.1MRubber Tires
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
Flag
GDP GROWTH16.5%CURRENT US$
Rnk 132 / 186
2022
Flag
GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC$24,275CURRENT US$
Rnk 46 / 186
2012-2022
Flag
GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186

About

South Korea-Portugal Trade: In 2022, South Korea exported $930M to Portugal. The main products that South Korea exported to Portugal were Refined Petroleum ($228M), Cars ($89.2M), and Coated Flat-Rolled Iron ($67.7M). Over the past 5 years the exports of South Korea to Portugal have increased at an annualized rate of 14.4%, from $475M in 2017 to $930M in 2022.

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

Portugal-South Korea Trade: In 2022, Portugal exported $298M to South Korea. The main products that Portugal exported to South Korea were Rubber Tires ($66.1M), Knit Sweaters ($19.6M), and Cars ($14.3M). Over the past 5 years the exports of Portugal to South Korea have increased at an annualized rate of 8.57%,  from $182M in 2017 to $298M in 2022.

In 2020, Portugal exported services to South Korea worth $18.3M, with Travel ($18.3M) 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, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B).

Latest Trends

July, 2024

About

Overview In July 2024, South Korea exported $66M and imported $39.4M from Portugal, resulting in a positive trade balance of $26.5M. Between July 2023 and July 2024 the exports of South Korea have increased by $3.18M (5.06%) from $62.8M to $66M, while imports decreased by $-38.9M (-49.7%) from $78.4M to $39.4M.

Trade In July 2024, the top exports of South Korea to Portugal were Pharmaceutical products ($18.5M), Electrical machinery and electronics ($12.6M), Plastics & articles thereof ($9.43M), Cars, tractors, trucks & parts thereof. ($7.77M), and Iron & steel ($5.05M). In July 2024 the top imports of South Korea from Portugal were Knitted clothing accesories ($13M), Rubber & articles thereof ($7.3M), Non-knitted clothing accesories ($4.17M), Electrical machinery and electronics ($3M), and Footwear ($2.09M).

Growth In July 2024, the increase in South Korea's year-by-year exports to Portugal was explained primarily by an increase in product exports in Pharmaceutical products ($18.3M or 9k%), Rubber & articles thereof ($934k or 83.8%), and Paper articles ($560k or 303%). In July 2024, the decrease in South Korea's year-by-year imports  from Portugal was explained primarily by an decrease in product imports  in Cars, tractors, trucks & parts thereof. ($-12.3M or -97.3%), Pharmaceutical products ($-10.1M or -93.1%), and Preparations of cereals, flour, starch or... ($-361k or -36.1%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$3.18M(5.06%)
IMPORT GROWTH (July 2023 - July 2024)$-38.9M(-49.7%)

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

For full datasets download visit Bulk Download page.

Explore Portugal and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $930M to Portugal. The main products exported from South Korea to Portugal were Refined Petroleum ($228M), Cars ($89.2M), and Coated Flat-Rolled Iron ($67.7M). During the last 5 years the exports of South Korea to Portugal have increased at an annualized rate of 14.4%, from $475M in 2017 to $930M in 2022.

In 2017, Portugal exported $298M to South Korea. The main products exported from Portugal to South Korea were Rubber Tires ($66.1M), Knit Sweaters ($19.6M), and Cars ($14.3M). During the last 5 years the exports of Portugal to South Korea have increased at an annualized rate of 8.57%, from $182M in 2022 to $298M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Portugal
Top DestinationSpain$20.5B

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

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

In 2022, countries that imported more from Portugal than South Korea included Spain ($20.5B), France ($9.49B), and Angola ($1.59B).

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

Comparative Advantage South Korea - Portugal

Flow
Scale

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

During 2022, South Korea had a large net trade with Portugal in the exports of Mineral Products ($228M), Machines ($196M), and Plastics and Rubbers ($143M).

During 2017, Portugal had a large net trade with South Korea in the exports of Plastics and Rubbers ($79.5M), Textiles ($47.7M), and Machines ($37M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Portugal+$78.3MCars
Top Product Potential Portugal South Korea+$23.8MCars

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, Portugal exported services to South Korea worth $18.3M, with Travel ($18.3M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Portugal (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 Portugal. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Portugal. Similarly, a dot/product with the flag of Portugal indicates it has a comparative advantage over South Korea.

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

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