Flag Australia / South Korea Flag

2020
FlagFlag
Exports
: $17.2B, Rnk 3 / 211

2020
FlagFlag
Top Product
: $4.35B, Iron Ore

2020
FlagFlag
Exports
: $6.38B, Rnk 17 / 218

2020
FlagFlag
Top Product
: $1.71B, Cars

2020
Flag
Economic Complexity (ECI)
: ECI -0.31, Rnk 74 / 127

2020
Flag
Economic Complexity (ECI)
: ECI 1.88, Rnk 5 / 127

2020
Flag  
GDP
: $1.33T, CURRENT US$
Rnk 13 / 195

2010-2020
Flag
GDP GROWTH
: 15.7%, CURRENT US$
Rnk 128 / 195

2020
Flag
 GDP
: $1.64T, CURRENT US$
Rnk 10 / 195

2010-2020
Flag
GDP GROWTH
: 43.2%, CURRENT US$
Rnk 69 / 195

2020
Flag
GDP PC 
: $51,693, CURRENT US$
Rnk 14 / 195

2010-2020
Flag
GDP PC GROWTH
: -0.76%, CURRENT US$
Rnk 142 / 195

2020
Flag
GDP PC
: $31,631, CURRENT US$
Rnk 32 / 195

2010-2020
Flag
GDP PC GROWTH
: 37%, CURRENT US$
Rnk 45 / 195

Australia-South Korea In 2020, Australia exported $17.2B to South Korea. The main products that Australia exported to South Korea are Iron Ore ($4.35B), Coal Briquettes ($3.62B), and Petroleum Gas ($2.69B). During the last 25 years the exports of Australia to South Korea have increased at an annualized rate of 4.41%, from $5.83B in 1995 to $17.2B in 2020.

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 2020, South Korea exported $6.38B to Australia. The main products that South Korea exported to Australia were Cars ($1.71B), Refined Petroleum ($1.55B), and Electric Batteries ($156M). During the last 25 years the exports of South Korea to Australia have increased at an annualized rate of 5.53%, from $1.66B in 1995 to $6.38B in 2020.

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 2020,  Australia ranked 74 in the Economic Complexity Index (ECI -0.31), and 22 in total exports ($250B). That same year, South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B).

Historical Data

#permalink to section

Bilateral Trade by Products

#permalink to section
Depth
Value

In 2020, Australia exported $17.2B to South Korea. The main products exported from Australia to South Korea were Iron Ore ($4.35B), Coal Briquettes ($3.62B), and Petroleum Gas ($2.69B). During the last 25 years the exports of Australia to South Korea have increased at an annualized rate of 4.41%, from $5.83B in 1995 to $17.2B in 2020.

In 2020, South Korea exported $6.38B to Australia. The main products exported from South Korea to Australia were Cars ($1.71B), Refined Petroleum ($1.55B), and Electric Batteries ($156M). During the last 25 years the exports of South Korea to Australia have increased at an annualized rate of 5.53%, from $1.66B in 1995 to $6.38B in 2020.

Market Competitiveness

#permalink to section
Measure

Australia
Top Destination
: China, $102B

South Korea
Top Destination
: China, $131B

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 2019, countries that imported more from Australia than South Korea were Japan ($31.8B), United Kingdom ($10B), and New Zealand ($5.58B).

In 2019, countries that imported more from South Korea than Australia were United States ($75B), Vietnam ($48B), and China ($131B).

Comparative Advantage Australia - South Korea

#permalink to section
Flow

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

During 2020, Australia had a large net trade with South Korea in the exports of Mineral Products ($12.7B), Animal Products ($1.34B), and Metals ($1.32B).

During 2020, South Korea had a large net trade with Australia in the exports of Transportation ($2.01B), Mineral Products ($1.65B), and Machines ($1.01B).

Bilateral Service Trade

#permalink to section

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

#permalink to section

Competitive Landscape

#permalink to section

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.