2021
Flag  
GDP
$1.55TCURRENT US$
Rnk 13 / 204
2011-2021
Flag
GDP GROWTH
11%CURRENT US$
Rnk 141 / 204
2021
Flag
 GDP
$1.81TCURRENT US$
Rnk 11 / 204
2011-2021
Flag
GDP GROWTH
44.5%CURRENT US$
Rnk 72 / 204
2021
Flag
GDP PC 
$60,445CURRENT US$
Rnk 17 / 204
2011-2021
Flag
GDP PC GROWTH
-3.44%CURRENT US$
Rnk 157 / 204
2021
Flag
GDP PC
$34,998CURRENT US$
Rnk 38 / 204
2011-2021
Flag
GDP PC GROWTH
39.5%CURRENT US$
Rnk 51 / 204

About

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

Bilateral Trade by Products

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.

Exports from Australia (Flag) to South Korea (Flag) (2021)

Exports from South Korea (Flag) to Australia (Flag) (2021)

Latest Data

Trade between Australia (Flag) and South Korea (Flag)

Australia Exports

South Korea Exports

Market Competitiveness

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).

Difference in imports from South Korea (Flag) and Australia (Flag) (2021)

Comparative Advantage Australia - South Korea

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).

Service Trade

Bilateral Service Trade

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.

Services Exports from Australia (Flag) to South Korea (Flag) (2009)

Services Exports from South Korea (Flag) to Australia (Flag) (2005)

Economic Complexity

Competitive Landscape

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.

Product Space of Australia (Flag) and South Korea (Flag) (2021)

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