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2022
Flag → Flag
Exports $1.53BRnk 46 / 220
2022
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Top Product $509MBroadcasting Equipment
2022
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Exports $1.79BRnk 23 / 217
2022
Flag → Flag
Top Product $562MCars
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 1.5Rnk 8 / 133
2022
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GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$471BCURRENT US$
Rnk 32 / 186
2012-2022
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GDP GROWTH15.1%CURRENT US$
Rnk 137 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$52,131CURRENT US$
Rnk 17 / 186
2012-2022
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GDP PC GROWTH7.34%CURRENT US$
Rnk 124 / 186

About

South Korea-Austria Trade: In 2022, South Korea exported $1.53B to Austria. The main products that South Korea exported to Austria were Broadcasting Equipment ($509M), Cars ($148M), and Blank Audio Media ($139M). Over the past 5 years the exports of South Korea to Austria have increased at an annualized rate of 8.46%, from $1.02B in 2017 to $1.53B in 2022.

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

Austria-South Korea Trade: In 2022, Austria exported $1.79B to South Korea. The main products that Austria exported to South Korea were Cars ($562M), Machinery Having Individual Functions ($120M), and Pig Meat ($109M). Over the past 5 years the exports of Austria to South Korea have increased at an annualized rate of 3.46%,  from $1.51B in 2017 to $1.79B in 2022.

In 2020, Austria exported services to South Korea worth $164M, with Other business services ($89.1M), Transportation ($30.8M), and Travel ($14.8M) being the largest in terms of value.

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Austria ranked 8 in the Economic Complexity Index (ECI 1.5), and 32 in total exports ($209B).

Latest Trends

September, 2024

About

Overview In September 2024, South Korea exported $131M and imported $122M from Austria, resulting in a positive trade balance of $8.84M. Between September 2023 and September 2024 the exports of South Korea have increased by $54.2M (71%) from $76.4M to $131M, while imports increased by $16.9M (16.1%) from $105M to $122M.

Trade In September 2024, the top exports of South Korea to Austria were Electrical machinery and electronics ($62.5M), Cars, tractors, trucks & parts thereof. ($17M), Machinery, mechanical appliances, & parts ($6.64M), Optical, photo, & film equipment; medical... ($5.97M), and Organic chemicals ($3.49M). In September 2024 the top imports of South Korea from Austria were Cars, tractors, trucks & parts thereof. ($81M), Machinery, mechanical appliances, & parts ($31.1M), Electrical machinery and electronics ($13.6M), Meat & edible offal ($8.59M), and Pharmaceutical products ($6.79M).

Growth In September 2024, the increase in South Korea's year-by-year exports to Austria was explained primarily by an increase in product exports in Electrical machinery and electronics ($12.3M or 24.6%), Organic chemicals ($2.23M or 178%), and Pharmaceutical products ($2.1M or 446%). In September 2024, the increase in South Korea's year-by-year imports  from Austria was explained primarily by an increase in product imports  in Cars, tractors, trucks & parts thereof. ($32.8M or 67.9%), Machinery, mechanical appliances, & parts ($18.2M or 141%), and Pharmaceutical products ($2.14M or 46.1%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (September 2023 - September 2024)$54.2M(71%)
IMPORT GROWTH (September 2023 - September 2024)$16.9M(16.1%)

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

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

For full datasets download visit Bulk Download page.

Explore Austria and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $1.53B to Austria. The main products exported from South Korea to Austria were Broadcasting Equipment ($509M), Cars ($148M), and Blank Audio Media ($139M). During the last 5 years the exports of South Korea to Austria have increased at an annualized rate of 8.46%, from $1.02B in 2017 to $1.53B in 2022.

In 2017, Austria exported $1.79B to South Korea. The main products exported from Austria to South Korea were Cars ($562M), Machinery Having Individual Functions ($120M), and Pig Meat ($109M). During the last 5 years the exports of Austria to South Korea have increased at an annualized rate of 3.46%, from $1.51B in 2022 to $1.79B in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Austria
Top DestinationGermany$57.7B

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

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

In 2022, countries that imported more from Austria than South Korea included Germany ($57.7B), Switzerland ($11.2B), and Italy ($13.6B).

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

Comparative Advantage South Korea - Austria

Flow
Scale

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

During 2022, South Korea had a large net trade with Austria in the exports of Machines ($1.06B), Transportation ($170M), and Instruments ($91.3M).

During 2017, Austria had a large net trade with South Korea in the exports of Transportation ($698M), Machines ($444M), and Chemical Products ($119M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Austria+$111MCars
Top Product Potential Austria South Korea+$30.7MMotor vehicles; parts and accessories (8701 to 8705)

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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Bilateral Service Trade

In 2020, Austria exported services to South Korea worth $164M, with Other business services ($89.1M), Transportation ($30.8M), and Travel ($14.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Austria (Flag) to South Korea (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and Austria. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Austria. Similarly, a dot/product with the flag of Austria indicates it has a comparative advantage over South Korea.

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

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