2022
Flag
 GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH
30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186

About

Greenland-South Korea Trade: In 2022, Greenland exported $502k to South Korea. The main products that Greenland exported to South Korea were Crustaceans ($386k), Planes, Helicopters, and/or Spacecraft ($69.4k), and Scrap Aluminium ($35.9k). Over the past 5 years the exports of Greenland to South Korea have decreased at an annualized rate of 12.1%, from $954k in 2017 to $502k in 2022.

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

South Korea-Greenland Trade: In 2022, South Korea exported $222k to Greenland. The main products that South Korea exported to Greenland were Planes, Helicopters, and/or Spacecraft ($70.9k), Other Hand Tools ($68.9k), and Electric Batteries ($33.1k). Over the past 5 years the exports of South Korea to Greenland have increased at an annualized rate of 6.61%,  from $161k in 2017 to $222k in 2022.

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

Comparison In 2022,  Greenland ranked 152 in total exports ($1.49B), and does not have data regarding Economic Complexity Index. 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
Value

In 2022, Greenland exported $502k to South Korea. The main products exported from Greenland to South Korea were Crustaceans ($386k), Planes, Helicopters, and/or Spacecraft ($69.4k), and Scrap Aluminium ($35.9k). During the last 5 years the exports of Greenland to South Korea have decreased at an annualized rate of 12.1%, from $954k in 2017 to $502k in 2022.

In 2017, South Korea exported $222k to Greenland. The main products exported from South Korea to Greenland were Planes, Helicopters, and/or Spacecraft ($70.9k), Other Hand Tools ($68.9k), and Electric Batteries ($33.1k). During the last 5 years the exports of South Korea to Greenland have increased at an annualized rate of 6.61%, from $161k in 2022 to $222k in 2017.

Exports from Greenland (Flag) to South Korea (Flag) (2022)

Exports from South Korea (Flag) to Greenland (Flag) (2022)

Latest Data

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

Greenland Exports

South Korea Exports

Market Competitiveness

Color
Greenland
Top Destination
Denmark$731M
South Korea
Top Destination
China$150B

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

In 2022, countries that imported more from Greenland than South Korea included Denmark ($731M).

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

Difference in imports from South Korea (Flag) and Greenland (Flag) (2022)

Comparative Advantage Greenland - South Korea

Flow
Scale

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

During 2022, Greenland had a large net trade with South Korea in the exports of Animal Products ($386k), Transportation ($69.4k), and Metals ($37.4k).

During 2017, South Korea had a large net trade with Greenland in the exports of Machines ($75.6k), Transportation ($71.4k), and Metals ($68.9k).

Economic Complexity

Competitive Landscape

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

Product Space of Greenland (Flag) and South Korea (Flag) (2022)

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