Flag South Korea / Australia Flag

2019
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Exports
: $8.21B, Rnk 13 / 215

2019
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Top Product
: $3.05B, Refined Petroleum

2019
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Exports
: $18.9B, Rnk 3 / 208

2019
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Top Product
: $5.08B, Coal Briquettes

2019
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Economic Complexity (ECI)
: ECI 1.9, Rnk 5 / 146

2019
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Economic Complexity (ECI)
: ECI -0.19, Rnk 79 / 146

2019
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GDP
: $1.65T, CURRENT US$
Rnk 12 / 187

2009-2019
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GDP GROWTH
: 74.5%, CURRENT US$
Rnk 52 / 187

2019
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 GDP
: $1.4T, CURRENT US$
Rnk 13 / 187

2009-2019
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GDP GROWTH
: 50.5%, CURRENT US$
Rnk 93 / 187

2019
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GDP PC 
: $31,846, CURRENT US$
Rnk 32 / 187

2009-2019
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GDP PC GROWTH
: 66.4%, CURRENT US$
Rnk 36 / 187

2019
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GDP PC
: $55,060, CURRENT US$
Rnk 12 / 187

2009-2019
Flag
GDP PC GROWTH
: 28.7%, CURRENT US$
Rnk 95 / 187

South Korea-Australia In 2019, South Korea exported $8.21B to Australia. The main products that South Korea exported to Australia are Refined Petroleum ($3.05B), Cars ($2.05B), and Electric Batteries ($147M). During the last 24 years the exports of South Korea to Australia have increased at an annualized rate of 6.94%, from $1.64B in 1995 to $8.21B in 2019.

In 2005, South Korea exported services to Australia worth $488M, with Transportation ($252M), Travel ($111M), and Other business services ($79.8M) being the largest in terms of value.

Australia-South Korea In 2019, Australia exported $18.9B to South Korea . The main products that Australia exported to South Korea were Coal Briquettes ($5.08B), Iron Ore ($4.34B), and Petroleum Gas ($3.34B). During the last 24 years the exports of Australia to South Korea have increased at an annualized rate of 5.41%, from $5.34B in 1995 to $18.9B in 2019.

In 2018, Australia exported services to South Korea worth $1.63B, with Travel ($1.51B), Transportation ($46.3M), and Other business services ($20.2M) being the largest in terms of value.

Comparison In 2019,  South Korea ranked 5 in the Economic Complexity Index (ECI 1.9), and 6 in total exports ($555B). That same year, Australia ranked 79 in the Economic Complexity Index (ECI -0.19), and 19 in total exports ($284B).

Historical Data

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Bilateral Trade by Products

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Depth
Value
Compare to

In 2019, South Korea exported $8.21B to Australia. The main products exported from South Korea to Australia were Refined Petroleum ($3.05B), Cars ($2.05B), and Electric Batteries ($147M). During the last 24 years the exports of South Korea to Australia have increased at an annualized rate of 6.94%, from $1.64B in 1995 to $8.21B in 2019.

In 2019, Australia exported $18.9B to South Korea. The main products exported from Australia to South Korea were Coal Briquettes ($5.08B), Iron Ore ($4.34B), and Petroleum Gas ($3.34B). During the last 24 years the exports of Australia to South Korea have increased at an annualized rate of 5.41%, from $5.34B in 1995 to $18.9B in 2019.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $136B

Australia
Top Destination
: China, $111B

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

In 2019, countries that imported more from South Korea than Australia were United States ($74.8B), Vietnam ($47.8B), and Hong Kong ($31.6B).

In 2019, countries that imported more from Australia than South Korea were Japan ($41.5B), United Kingdom ($10.6B), and New Zealand ($5.81B).

Comparative Advantage South Korea - Australia

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Depth

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

During 2019, South Korea had a large net trade with Australia in the exports of Mineral Products ($3.19B), Transportation ($2.28B), and Machines ($1.03B).

During 2019, Australia had a large net trade with South Korea in the exports of Mineral Products ($14.6B), Animal Products ($1.33B), and Metals ($1.17B).

Tariff Section

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

In 2018, the products from South Korea that paid the highest import tariffs to enter Australia were Cereals: fonio (Digitaria spp.) (800%)and Cereals: quinoa (Chenopodium quinoa) (800%).

In 2019, the products from Australia that paid the highest import tariffs to enter South Korea were Mens, boys suits, of wool or hair, not knit (4%)and Mens, boys suits, synthetic fibres, not knit (4%).

*The tariffs present between South Korea and Australia are:
136: Most Favoured Nation duty rate treatement
165: Preferential tariff for Australia

Bilateral Service Trade

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In 2005, South Korea exported services to Australia worth $488M, with Transportation ($252M), Travel ($111M), and Other business services ($79.8M) being the largest in terms of value.

In 2018, Australia exported services to South Korea worth $1.63B, with Travel ($1.51B), Transportation ($46.3M), and Other business services ($20.2M) 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 South Korea has comparative advantage over Australia. Similarly, the more red a dot/product is, the more Australia has comparative advantage over South Korea.