Flag Australia / South Korea Flag

2021
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Exports
: $29.4B, Rnk 3 / 208

2021
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Top Product
: $7.92B, Iron Ore

2021
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Exports
: $9.7B, Rnk 13 / 218

2021
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Top Product
: $3.32B, Refined Petroleum

2021
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Economic Complexity (ECI)
: ECI -0.41, Rnk 82 / 131

2021
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Economic Complexity (ECI)
: ECI 1.82, Rnk 4 / 131

2021
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GDP
: $1.54T, CURRENT US$
Rnk 13 / 182

2011-2021
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GDP GROWTH
: 10.4%, CURRENT US$
Rnk 131 / 182

2021
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 GDP
: $1.8T, CURRENT US$
Rnk 10 / 182

2011-2021
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GDP GROWTH
: 43.5%, CURRENT US$
Rnk 64 / 182

2021
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GDP PC 
: $59,934, CURRENT US$
Rnk 12 / 182

2011-2021
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GDP PC GROWTH
: -4.22%, CURRENT US$
Rnk 138 / 182

2021
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GDP PC
: $34,758, CURRENT US$
Rnk 28 / 182

2011-2021
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GDP PC GROWTH
: 38.5%, CURRENT US$
Rnk 43 / 182

Australia-South Korea In 2021, Australia exported $29.4B to South Korea. The main products that Australia exported to South Korea are Iron Ore ($7.92B), Coal Briquettes ($6.93B), and Petroleum Gas ($5.05B). During the last 26 years the exports of Australia to South Korea have increased at an annualized rate of 6.74%, from $5.4B in 1995 to $29.4B in 2021.

In 2009, Australia exported services to South Korea worth $1.45B, with Travel ($1.35B), Transportation ($53M), and Other business services ($11.9M) being the largest in terms of value.

South Korea-Australia In 2021, South Korea exported $9.7B to Australia. The main products that South Korea exported to Australia were Refined Petroleum ($3.32B), Cars ($2.36B), and Self-Propelled Rail Transport ($231M). During the last 26 years the exports of South Korea to Australia have increased at an annualized rate of 7.03%, from $1.66B in 1995 to $9.7B in 2021.

In 2005, South Korea exported services to Australia worth $488M, with Transportation ($252M), Travel ($111M), and Other business services ($79.8M) being the largest in terms of value.

Comparison In 2021,  Australia ranked 82 in the Economic Complexity Index (ECI -0.41), and 20 in total exports ($343B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.82), and 5 in total exports ($653B).

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2021, Australia exported $29.4B to South Korea. The main products exported from Australia to South Korea were Iron Ore ($7.92B), Coal Briquettes ($6.93B), and Petroleum Gas ($5.05B). During the last 26 years the exports of Australia to South Korea have increased at an annualized rate of 6.74%, from $5.4B in 1995 to $29.4B in 2021.

In 2021, South Korea exported $9.7B to Australia. The main products exported from South Korea to Australia were Refined Petroleum ($3.32B), Cars ($2.36B), and Self-Propelled Rail Transport ($231M). During the last 26 years the exports of South Korea to Australia have increased at an annualized rate of 7.03%, from $1.66B in 1995 to $9.7B in 2021.

Market Competitiveness

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Color

Australia
Top Destination
: China, $138B

South Korea
Top Destination
: China, $158B

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

In 2021, countries that imported more from Australia than South Korea were Japan ($47B), New Zealand ($6.7B), and India ($20.5B).

In 2021, countries that imported more from South Korea than Australia were United States ($95.9B), Vietnam ($56.5B), and Hong Kong ($38.2B).

Comparative Advantage Australia - South Korea

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Flow
Scale

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

During 2021, Australia had a large net trade with South Korea in the exports of Mineral Products ($23.2B), Animal Products ($1.64B), and Metals ($1.44B).

During 2021, South Korea had a large net trade with Australia in the exports of Mineral Products ($3.45B), Transportation ($2.81B), and Machines ($1.06B).

Bilateral Service Trade

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In 2009, Australia exported services to South Korea worth $1.45B, with Travel ($1.35B), Transportation ($53M), and Other business services ($11.9M) being the largest in terms of value.

In 2005, South Korea exported services to Australia worth $488M, with Transportation ($252M), Travel ($111M), and Other business services ($79.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Australia has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Australia.