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2022
Flag → Flag
Exports $5.88BRnk 21 / 224
2022
Flag → Flag
Top Product $968MCrude Petroleum
2022
Flag → Flag
Exports $7.08BRnk 20 / 220
2022
Flag → Flag
Top Product $2.25BCars
2022
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Economic Complexity (ECI) ECI 1.42Rnk 12 / 133
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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GDP$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
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GDP GROWTH13.5%CURRENT US$
Rnk 139 / 186
2022
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 GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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GDP PC $45,850CURRENT US$
Rnk 23 / 186
2012-2022
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GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186
2022
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GDP PC$32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186

About

United Kingdom-South Korea Trade: In 2022, United Kingdom exported $5.88B to South Korea. The main products that United Kingdom exported to South Korea were Crude Petroleum ($968M), Cars ($642M), and Platinum ($395M). Over the past 5 years the exports of United Kingdom to South Korea have decreased at an annualized rate of 3.64%, from $7.08B in 2017 to $5.88B in 2022.

In 2019, United Kingdom exported services to South Korea worth $2.87B, with Other business services ($1.38B), Transportation ($384M), and Royalties and license fees ($334M) being the largest in terms of value.

South Korea-United Kingdom Trade: In 2022, South Korea exported $7.08B to United Kingdom. The main products that South Korea exported to United Kingdom were Cars ($2.25B), Broadcasting Equipment ($563M), and Platinum ($295M). Over the past 5 years the exports of South Korea to United Kingdom have decreased at an annualized rate of 3.66%,  from $8.86B in 2017 to $7.08B in 2022.

In 2005, South Korea exported services to United Kingdom worth $1.82B, with Transportation ($656M), Other business services ($515M), and Services not allocated ($409M) being the largest in terms of value.

Comparison: In 2022,  United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Latest Trends

August, 2024

About

Overview In August 2024, United Kingdom exported £227M and imported £509M from South Korea, resulting in a negative trade balance of £282M. Between August 2023 and August 2024 the exports of United Kingdom have decreased by £-171M (-42.9%) from £398M to £227M, while imports decreased by £-37M (-6.77%) from £546M to £509M.

Trade In August 2024, the top exports of United Kingdom to South Korea were Vaccines, blood, antisera, toxins and cultures (£219M), Cars (£41.8M), Platinum (£22.8M), Gas Turbines (£20.8M), and Knit Sweaters (£15.4M). In August 2024 the top imports of United Kingdom from South Korea were Cars (£48.1M), Gas Turbines (£22M), Aircraft parts including unmanned craft (£18.7M), Platinum (£17.7M), and Electric Batteries (£14.3M).

Origins In August 2024 the exports of United Kingdom were mainly from London Heathrow Airport (£98.8M), Southampton (£64.4M), Felixstowe (£14.1M), London Gateway (£13.5M), and East Midlands Airport (£12.4M), while imports destinations were mainly Immingham (£137M), London Heathrow Airport (£106M), Southampton (£75.8M), and London (£38.5M).

Growth In August 2024, the decrease in United Kingdom's year-by-year exports to South Korea was explained primarily by an decrease in product exports in Paintings (£-8.13M or -77.3%), Aircraft parts including unmanned craft (£-7.89M or -78.8%), and Compasses (£-5.93M or -98.4%). In August 2024, the decrease in United Kingdom's year-by-year imports  from South Korea was explained primarily by an decrease in product imports  in Cars (£-85.8M or -64.1%), Refined Petroleum (£-49.9M or -99.5%), and Coated Flat-Rolled Iron (£-23.8M or -80.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)£-171M(-42.9%)
IMPORT GROWTH (August 2023 - August 2024)£-37M(-6.77%)
MAIN EXPORTER (August 2024)London Heathrow Airport£98.8M

This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United Kingdom over time.

To check South Korea and United Kingdom trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore South Korea and United Kingdom Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United Kingdom exported $5.88B to South Korea. The main products exported from United Kingdom to South Korea were Crude Petroleum ($968M), Cars ($642M), and Platinum ($395M). During the last 5 years the exports of United Kingdom to South Korea have decreased at an annualized rate of 3.64%, from $7.08B in 2017 to $5.88B in 2022.

In 2017, South Korea exported $7.08B to United Kingdom. The main products exported from South Korea to United Kingdom were Cars ($2.25B), Broadcasting Equipment ($563M), and Platinum ($295M). During the last 5 years the exports of South Korea to United Kingdom have decreased at an annualized rate of 3.66%, from $8.86B in 2022 to $7.08B in 2017.

Exports from United Kingdom (Flag) to South Korea (Flag) (2022)

Exports from South Korea (Flag) to United Kingdom (Flag) (2022)

Market Competitiveness

Color
United Kingdom
Top DestinationUnited States$61.8B
South Korea
Top DestinationChina$150B

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

In 2022, countries that imported more from United Kingdom than South Korea included Netherlands ($41.9B), Ireland ($32.6B), and Germany ($40.6B).

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

Difference in imports from South Korea (Flag) and United Kingdom (Flag) (2022)

Comparative Advantage United Kingdom - South Korea

Flow
Scale

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

During 2022, United Kingdom had a large net trade with South Korea in the exports of Machines ($1.14B), Mineral Products ($983M), and Transportation ($806M).

During 2017, South Korea had a large net trade with United Kingdom in the exports of Transportation ($2.7B), Machines ($1.9B), and Chemical Products ($489M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United Kingdom South Korea+$387MCrude Petroleum
Top Product Potential South Korea United Kingdom+$444MCars

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.

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Economic Complexity

Competitive Landscape

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

Product Space of United Kingdom (Flag) and South Korea (Flag) (2022)

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