Flag Germany / South Korea Flag

Exports FlagFlag  (2018): $20.4B, Rnk 19 / 216

Top Product FlagFlag (2018): $5.55B, Cars

Exports FlagFlag (2018): $10.7B, Rnk 11 / 210

Top Product FlagFlag (2018): $1.5B, Cars

Economic Complexity of Flag (2018): ECI 1.9, Rnk 4 / 137

Economic Complexity of Flag (2018): ECI 1.85, Rnk 5 / 137

GDP Flag (2018): $3.95T, CURRENT US$
Rnk 4 / 196

GDP GROWTH Flag (2008-2018): 5.83%, CURRENT US$
Rnk 153 / 196

GDP Flag (2018): $1.62T, CURRENT US$
Rnk 12 / 196

GDP GROWTH Flag (2008-2018): 61.6%, CURRENT US$
Rnk 69 / 196

GDP PC Flag (2018): $47,603, CURRENT US$
Rnk 18 / 196

GDP PC GROWTH Flag (2008-2018): 4.79%, CURRENT US$
Rnk 131 / 196

GDP PC Flag (2018): $31,363, CURRENT US$
Rnk 34 / 196

GDP PC GROWTH Flag (2008-2018): 53.5%, CURRENT US$
Rnk 42 / 196

Germany-South Korea: In 2018, Germany exported $20.4B to South Korea. The main products exported from Germany to South Korea were Cars ($5.55B), Packaged Medicaments ($627M), and Vehicle Parts ($589M). During the last 23 years the exports of Germany to South Korea have increased at an annualized rate of 5.23%, from $6.31B in 1995 to $20.4B in 2018. In 2016, Germany exported services to South Korea worth $2.47B, with Transportation ($953M), Other business services ($877M), and Royalties and license fees ($321M) being the largest in terms of value.

South Korea-Germany: In 2018, South Korea exported $10.7B to Germany. The main products exported from South Korea to Germany were Cars ($1.5B), Office Machine Parts ($1.18B), and Electric Batteries ($825M). During the last 23 years the exports of South Korea to Germany have increased at an annualized rate of 2.79%, from $5.68B in 1995 to $10.7B in 2018. In 2005, South Korea exported services to Germany worth $1.78B, with Other business services ($826M), Transportation ($704M), and Travel ($121M) being the largest in terms of value.

Comparison: In 2018, Germany ranked 4 in the Economic Complexity Index (ECI 1.9), and 2 in total exports ($1.5T). That same year, South Korea ranked 5 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($617B). In terms of GDP Per Capita, Germany was ranked 18 with a GDP Per Capita of $47,603, and South Korea was ranked 34 with a GDP Per Capita of $31,363.

Bilateral Trade by Products

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Depth
Value

In 2018, Germany exported $20.4B to South Korea. The main products exported from Germany to South Korea were Cars ($5.55B), Packaged Medicaments ($627M), and Vehicle Parts ($589M). During the last 23 years the exports of Germany to South Korea have increased at an annualized rate of 5.23%, from $6.31B in 1995 to $20.4B in 2018.

In 2018, South Korea exported $10.7B to Germany. The main products exported from South Korea to Germany were Cars ($1.5B), Office Machine Parts ($1.18B), and Electric Batteries ($825M). During the last 23 years the exports of South Korea to Germany have increased at an annualized rate of 2.79%, from $5.68B in 1995 to $10.7B in 2018.

Market Competitiveness

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Measure

Germany
Top Destination
: United States, $132B

South Korea
Top Destination
: China, $160B

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

In 2018, countries that imported more from Germany than South Korea were France ($121B), Netherlands ($93.6B), and United Kingdom ($93.4B).

In 2018, countries that imported more from South Korea than Germany were China ($160B), Vietnam ($48.6B), and Hong Kong ($44.5B).

Comparative Advantage Germany - South Korea

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Depth

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

During 2018, Germany had a large net trade with South Korea in the exports of Transportation ($6.43B), Machines ($5.74B), and Chemical Products ($3.03B).

During 2018, South Korea had a large net trade with Germany in the exports of Machines ($5.19B), Transportation ($2.14B), and Chemical Products ($1.04B).

Tariff Section

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This sections shows import tariffs for products traded between Germany and South Korea (using the HS6 product classification and the last year reported).

In 2017, the products from Germany that paid the highest import tariffs to enter South Korea were Cereals, rolled or flaked grains nes (64.1%) and Cereal pellets (61.5%).

In 2018, the products from South Korea that paid the highest import tariffs to enter Germany were Rice in the husk (paddy or rough) (513%) and Rice, husked (brown) (513%).

Explore Tariff Data

*The tariffs present between Germany and South Korea are:
122: EU preferential tariff for sugar producing countries
136: Most Favoured Nation duty rate treatement
249: Preferential tariff for Korea, Republic of

Trade Forecasts

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This section shows a forecast for total trade between Germany and South Korea. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

Explore Forecasts

Bilateral Service Trade

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In 2016, Germany exported services to South Korea worth $2.47B, with Transportation ($953M), Other business services ($877M), and Royalties and license fees ($321M) being the largest in terms of value.

In 2005, South Korea exported services to Germany worth $1.78B, with Other business services ($826M), Transportation ($704M), and Travel ($121M) 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 red.  This mean that the more blue a dot/product is, the more Germany has comparative advantage over South Korea. Similarly, the more red a dot/product is, the more South Korea has comparative advantage over Germany.