India (IND) and South Korea (KOR) Trade | The Observatory of Economic Complexity

About

India-South Korea In 2022, India exported $8.2B to South Korea. The main products that India exported to South Korea are Refined Petroleum ($2.58B), Raw Aluminium ($1.34B), and Raw Lead ($252M). During the last 27 years the exports of India to South Korea have increased at an annualized rate of 8.75%, from $852M in 1995 to $8.2B in 2022.

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

South Korea-India In 2022, South Korea exported $20.6B to India. The main products that South Korea exported to India were Integrated Circuits ($2.23B), Special Purpose Ships ($1.96B), and Refined Petroleum ($941M). During the last 27 years the exports of South Korea to India have increased at an annualized rate of 11%, from $1.22B in 1995 to $20.6B in 2022.

In 2005, South Korea exported services to India worth $475M, with Transportation ($299M), Services not allocated ($82.3M), and Travel ($56.3M) being the largest in terms of value.

Comparison In 2022, India ranked 42 in the Economic Complexity Index (ECI 0.57), and 15 in total exports ($468B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B).

Latest Trends

January, 2024

About

Overview In January 2024, India exported $592M and imported $1.52B from South Korea, resulting in a negative trade balance of $932M. Between January 2023 and January 2024 the exports of India have increased by $89.1M (17.7%) from $503M to $592M, while imports increased by $141M (10.2%) from $1.38B to $1.52B.

Trade In January 2024, the top exports of India to South Korea were Petroleum Products ($173M), Aluminium, Products Of Aluminm ($70.5M), Lead And Products Made Of Led ($24.9M), Iron And Steel ($23.8M), and Organic Chemicals ($20M). In January 2024 the top imports of India from South Korea were Iron And Steel ($206M), Electronics Components ($158M), Plastic Raw Materials ($133M), Organic Chemicals ($82.1M), and Auto Components/Parts ($81M).

Growth In January 2024, the increase in India's year-by-year exports to South Korea was explained primarily by an increase in product exports in Petroleum Products ($57.9M or 50.5%), Residul Chemicl And Alled Prod ($3.53M or 24.3%), and Zinc And Products Made Of Zinc ($2.73M or 71.9%). In January 2024, the increase in India's year-by-year imports from South Korea was explained primarily by an increase in product imports in Accumulators And Batteries ($23.9M or 173%), Auto Components/Parts ($14.1M or 21.1%), and Ship, Boat And Floating Struct ($13.3M or 137%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)$89.1M(17.7%)

IMPORT GROWTH (January 2023 - January 2024)$141M(10.2%)

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

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

For full datasets download visit Bulk Download page.

Explore South Korea and India Data

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, India exported $8.2B to South Korea. The main products exported from India to South Korea were Refined Petroleum ($2.58B), Raw Aluminium ($1.34B), and Raw Lead ($252M). During the last 27 years the exports of India to South Korea have increased at an annualized rate of 8.75%, from $852M in 1995 to $8.2B in 2022.

In 2022, South Korea exported $20.6B to India. The main products exported from South Korea to India were Integrated Circuits ($2.23B), Special Purpose Ships ($1.96B), and Refined Petroleum ($941M). During the last 27 years the exports of South Korea to India have increased at an annualized rate of 11%, from $1.22B in 1995 to $20.6B in 2022.

Exports from India () to South Korea () (2022)

Exports from South Korea () to India () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

India
Top DestinationUnited States$82.9B

South Korea
Top DestinationChina$150B

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

In 2021, countries that imported more from India than South Korea were United Arab Emirates ($31.6B), Bangladesh ($13.8B), and Netherlands ($17.6B).

In 2021, countries that imported more from South Korea than India were China ($150B), Vietnam ($60.7B), and United States ($112B).

Difference in imports from South Korea () and India () (2022)

Comparative Advantage India - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, India had a large net trade with South Korea in the exports of Mineral Products ($2.69B), Metals ($2.19B), and Chemical Products ($1.02B).

During 2022, South Korea had a large net trade with India in the exports of Machines ($6.35B), Metals ($4.1B), and Transportation ($3.15B).

Service Trade

Bilateral Service Trade

In 2005, South Korea exported services to India worth $475M, with Transportation ($299M), Services not allocated ($82.3M), and Travel ($56.3M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea () to India () (2005)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more India has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over India.

About

Latest Trends

About

Latest Trade

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Historical Data

Bilateral Trade by Products

Exports from India () to South Korea () (2022)

Exports from South Korea () to India () (2022)

Market Competitiveness

Difference in imports from South Korea () and India () (2022)

Comparative Advantage India - South Korea

Service Trade

Bilateral Service Trade

Services Exports from South Korea () to India () (2005)

Economic Complexity

Competitive Landscape

Product Space of India () and South Korea () (2022)

Keep Exploring