Burkina Faso (BFA) and South Korea (KOR) Trade | The Observatory of Economic Complexity

About

Burkina Faso-South Korea Trade: In 2022, Burkina Faso exported $1.16M to South Korea. The main products that Burkina Faso exported to South Korea were Other Oily Seeds ($949k), Other Pure Vegetable Oils ($146k), and Gold ($65.7k). Over the past 5 years the exports of Burkina Faso to South Korea have increased at an annualized rate of 13.6%, from $614k in 2017 to $1.16M in 2022.

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

South Korea-Burkina Faso Trade: In 2022, South Korea exported $102M to Burkina Faso. The main products that South Korea exported to Burkina Faso were Refined Petroleum ($58.7M), Cyanides ($23.2M), and Other Plastic Products ($4.99M). Over the past 5 years the exports of South Korea to Burkina Faso have increased at an annualized rate of 16.3%, from $41M in 2017 to $102M in 2022.

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

Comparison: In 2022, Burkina Faso ranked 131 in the Economic Complexity Index (ECI -1.91), and 110 in total exports ($8.2B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Burkina Faso exported $1.16M to South Korea. The main products exported from Burkina Faso to South Korea were Other Oily Seeds ($949k), Other Pure Vegetable Oils ($146k), and Gold ($65.7k). During the last 5 years the exports of Burkina Faso to South Korea have increased at an annualized rate of 13.6%, from $614k in 2017 to $1.16M in 2022.

In 2017, South Korea exported $102M to Burkina Faso. The main products exported from South Korea to Burkina Faso were Refined Petroleum ($58.7M), Cyanides ($23.2M), and Other Plastic Products ($4.99M). During the last 5 years the exports of South Korea to Burkina Faso have increased at an annualized rate of 16.3%, from $41M in 2022 to $102M in 2017.

Exports from Burkina Faso () to South Korea () (2022)

Exports from South Korea () to Burkina Faso () (2022)

Latest Data

Trade between Burkina Faso () and South Korea ()

Burkina Faso Exports

Date

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Burkina Faso
Top DestinationSwitzerland$6.08B

South Korea
Top DestinationChina$150B

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

In 2022, countries that imported more from Burkina Faso than South Korea included Switzerland ($6.08B), Mali ($304M), and Niger ($32.6M).

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

Difference in imports from South Korea () and Burkina Faso () (2022)

Comparative Advantage Burkina Faso - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Burkina Faso had a large net trade with South Korea in the exports of Vegetable Products ($949k), Animal and Vegetable Bi-Products ($146k), and Precious Metals ($65.7k).

During 2017, South Korea had a large net trade with Burkina Faso in the exports of Mineral Products ($58.7M), Chemical Products ($28.8M), and Plastics and Rubbers ($6.85M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Burkina Faso South Korea+$1.3MOther Oily Seeds

Top Product Potential South Korea Burkina Faso+$23.6MRefined Petroleum

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Burkina Faso () to South Korea () (2022)

Exports from South Korea () to Burkina Faso () (2022)

Latest Data

Trade between Burkina Faso () and South Korea ()

Burkina Faso Exports

South Korea Exports

Market Competitiveness

Difference in imports from South Korea () and Burkina Faso () (2022)

Comparative Advantage Burkina Faso - South Korea

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

Product Space of Burkina Faso () and South Korea () (2022)

Keep Exploring