Flag South Korea / Australia Flag

2020
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Exports
: $6.38B, Rnk 17 / 218

2020
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Top Product
: $1.71B, Cars

2020
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Exports
: $17.2B, Rnk 3 / 211

2020
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Top Product
: $4.35B, Iron Ore

2020
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Economic Complexity (ECI)
: ECI 1.88, Rnk 5 / 127

2020
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Economic Complexity (ECI)
: ECI -0.31, Rnk 74 / 127

2020
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GDP
: $1.64T, CURRENT US$
Rnk 10 / 195

2010-2020
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GDP GROWTH
: 43.2%, CURRENT US$
Rnk 69 / 195

2020
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 GDP
: $1.33T, CURRENT US$
Rnk 13 / 195

2010-2020
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GDP GROWTH
: 15.7%, CURRENT US$
Rnk 128 / 195

2020
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GDP PC 
: $31,631, CURRENT US$
Rnk 32 / 195

2010-2020
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GDP PC GROWTH
: 37%, CURRENT US$
Rnk 45 / 195

2020
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GDP PC
: $51,693, CURRENT US$
Rnk 14 / 195

2010-2020
Flag
GDP PC GROWTH
: -0.76%, CURRENT US$
Rnk 142 / 195

South Korea-Australia In 2020, South Korea exported $6.38B to Australia. The main products that South Korea exported to Australia are Cars ($1.71B), Refined Petroleum ($1.55B), and Electric Batteries ($156M). During the last 25 years the exports of South Korea to Australia have increased at an annualized rate of 5.53%, from $1.66B in 1995 to $6.38B in 2020.

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 2020, Australia exported $17.2B to South Korea. The main products that Australia exported to South Korea were Iron Ore ($4.35B), Coal Briquettes ($3.62B), and Petroleum Gas ($2.69B). During the last 25 years the exports of Australia to South Korea have increased at an annualized rate of 4.41%, from $5.83B in 1995 to $17.2B in 2020.

In 2009, Australia exported services to South Korea worth $1.45B, with Travel ($1.35B), Transportation ($53M), and Other business services ($11.9M) being the largest in terms of value.

Comparison In 2020,  South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B). That same year, Australia ranked 74 in the Economic Complexity Index (ECI -0.31), and 22 in total exports ($250B).

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2020, South Korea exported $6.38B to Australia. The main products exported from South Korea to Australia were Cars ($1.71B), Refined Petroleum ($1.55B), and Electric Batteries ($156M). During the last 25 years the exports of South Korea to Australia have increased at an annualized rate of 5.53%, from $1.66B in 1995 to $6.38B in 2020.

In 2020, Australia exported $17.2B to South Korea. The main products exported from Australia to South Korea were Iron Ore ($4.35B), Coal Briquettes ($3.62B), and Petroleum Gas ($2.69B). During the last 25 years the exports of Australia to South Korea have increased at an annualized rate of 4.41%, from $5.83B in 1995 to $17.2B in 2020.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $131B

Australia
Top Destination
: China, $102B

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 ($75B), Vietnam ($48B), and China ($131B).

In 2019, countries that imported more from Australia than South Korea were Japan ($31.8B), United Kingdom ($10B), and New Zealand ($5.58B).

Comparative Advantage South Korea - Australia

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Flow

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

During 2020, South Korea had a large net trade with Australia in the exports of Transportation ($2.01B), Mineral Products ($1.65B), and Machines ($1.01B).

During 2020, Australia had a large net trade with South Korea in the exports of Mineral Products ($12.7B), Animal Products ($1.34B), and Metals ($1.32B).

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 2009, Australia exported services to South Korea worth $1.45B, with Travel ($1.35B), Transportation ($53M), and Other business services ($11.9M) 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 yellow.  This mean that the more blue a dot/product is, the more South Korea has comparative advantage over Australia. Similarly, the more yellow a dot/product is, the more Australia has comparative advantage over South Korea.