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2022
Flag → Flag
Exports $8.2BRnk 18 / 217
2022
Flag → Flag
Top Product $2.58BRefined Petroleum
2022
Flag → Flag
Exports $20.6BRnk 8 / 220
2022
Flag → Flag
Top Product $2.23BIntegrated Circuits
2022
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag  
GDP$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
Flag
GDP GROWTH85.2%CURRENT US$
Rnk 24 / 186
2022
Flag
 GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC $2,389CURRENT US$
Rnk 140 / 186
2012-2022
Flag
GDP PC GROWTH66.6%CURRENT US$
Rnk 20 / 186
2022
Flag
GDP PC$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186

About

India-South Korea Trade: In 2022, India exported $8.2B to South Korea. The main products that India exported to South Korea were Refined Petroleum ($2.58B), Raw Aluminium ($1.34B), and Raw Lead ($252M). Over the past 5 years the exports of India to South Korea have increased at an annualized rate of 11.5%, from $4.75B in 2017 to $8.2B in 2022.

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

South Korea-India Trade: 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). Over the past 5 years the exports of South Korea to India have increased at an annualized rate of 5.95%,  from $15.4B in 2017 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 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B). 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, India exported $485M and imported $1.96B from South Korea, resulting in a negative trade balance of $1.48B. Between August 2023 and August 2024 the exports of India have decreased by $-68.3M (-12.3%) from $553M to $485M, while imports increased by $310M (18.8%) from $1.65B to $1.96B.

Trade In August 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 August 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 August 2024, the decrease in India's year-by-year exports to South Korea was explained primarily by an decrease in product exports in Aluminium, Products Of Aluminm ($-91.9M or -56.6%), Iron And Steel ($-21.3M or -47.3%), and Cotton Yarn ($-8.56M or -60%). In August 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

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)$-68.3M(-12.3%)
IMPORT GROWTH (August 2023 - August 2024)$310M(18.8%)

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

Historical Data

Bilateral Trade by Products

Depth
Value

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 5 years the exports of India to South Korea have increased at an annualized rate of 11.5%, from $4.75B in 2017 to $8.2B in 2022.

In 2017, 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 5 years the exports of South Korea to India have increased at an annualized rate of 5.95%, from $15.4B in 2022 to $20.6B in 2017.

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

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

Market Competitiveness

Color
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 2022, countries that imported more from India than South Korea included United Arab Emirates ($31.6B), Bangladesh ($13.8B), and Netherlands ($17.6B).

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

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

Comparative Advantage India - South Korea

Flow
Scale

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 2017, South Korea had a large net trade with India in the exports of Machines ($6.35B), Metals ($4.1B), and Transportation ($3.15B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India South Korea+$1.25BRefined Petroleum
Top Product Potential South Korea India+$912MIntegrated Circuits

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 India and South Korea. This means that a dot/product with the flag of India 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 India.

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

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