2023
Flag  
GDP
$6.72BCURRENT US$
Rnk 156 / 195
2013-2023
Flag
GDP GROWTH
25.4%CURRENT US$
Rnk 124 / 195
2023
Flag
 GDP
$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH
25%CURRENT US$
Rnk 127 / 195
2023
Flag
GDP PC 
$23,804CURRENT US$
Rnk 52 / 195
2013-2023
Flag
GDP PC GROWTH
23.3%CURRENT US$
Rnk 93 / 195
2023
Flag
GDP PC
$33,121CURRENT US$
Rnk 41 / 196
2013-2023
Flag
GDP PC GROWTH
21.9%CURRENT US$
Rnk 99 / 195

About

Barbados-South Korea Trade: In 2022, Barbados exported $311k to South Korea. The main products that Barbados exported to South Korea were N/A. Over the past 5 years the exports of Barbados to South Korea have decreased at an annualized rate of 18.3%, from $852k in 2017 to $311k in 2022.

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

South Korea-Barbados Trade: In 2022, South Korea exported $5.21M to Barbados. The main products that South Korea exported to Barbados were Cars ($2.3M), Water and Gas Generators ($821k), and Electric Batteries ($607k). Over the past 5 years the exports of South Korea to Barbados have decreased at an annualized rate of 14.6%,  from $11.5M in 2017 to $5.21M in 2022.

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

Comparison In 2023,  Barbados ranked 171 in total exports ($421M), and does not have data regarding Economic Complexity Index. That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Barbados exported $311k to South Korea. There were not main exports from Barbados to South Korea in 2022. During the last 5 years the exports of Barbados to South Korea have decreased at an annualized rate of 18.3%, from $852k in 2017 to $311k in 2022.

In 2018, South Korea exported $5.21M to Barbados. The main products exported from South Korea to Barbados were Cars ($2.3M), Water and Gas Generators ($821k), and Electric Batteries ($607k). During the last 5 years the exports of South Korea to Barbados have decreased at an annualized rate of 14.6%, from $11.5M in 2023 to $5.21M in 2018.

Exports from Barbados (Flag) to South Korea (Flag) (2023)

Exports from South Korea (Flag) to Barbados (Flag) (2023)

Latest Data

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

Barbados Exports

South Korea Exports

Market Competitiveness

Color
Barbados
Top Destination
United States$91M
South Korea
Top Destination
China$162B

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

In 2023, countries that imported more from Barbados than South Korea included Trinidad and Tobago ($33.7M), Jamaica ($71.2M), and Saint Lucia ($19.5M).

In 2023, countries that imported more from South Korea than Barbados included China ($162B), United States ($118B), and Hong Kong ($28.8B).

Difference in imports from South Korea (Flag) and Barbados (Flag) (2023)

Comparative Advantage Barbados - South Korea

Flow
Scale

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

During 2022, Barbados had a large net trade with South Korea in the exports of .

During 2018, South Korea had a large net trade with Barbados in the exports of Transportation ($2.84M), Machines ($1.88M), and Chemical Products ($190k).

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Barbados and South Korea. This means that a dot/product with the flag of Barbados 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 Barbados.

Product Space of Barbados (Flag) and South Korea (Flag) (2023)

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