South Korea (KOR) and Bermuda (BMU) Trade | OEC - The Observatory of Economic Complexity

About

South Korea-Bermuda In 2020, South Korea exported $1.24B to Bermuda. The main products that South Korea exported to Bermuda are Passenger and Cargo Ships ($1.24B), Cars ($6.01M), and Refined Petroleum ($54.3k). During the last 25 years the exports of South Korea to Bermuda have increased at an annualized rate of 13.7%, from $50.5M in 1995 to $1.24B in 2020.

In 2020, South Korea did not export any services to Bermuda.

Bermuda-South Korea In 2020, Bermuda exported $295k to South Korea. The main products that Bermuda exported to South Korea were Refined Petroleum ($290k), Engine Parts ($960), and Telephones ($889). During the last 25 years the exports of Bermuda to South Korea have increased at an annualized rate of 29%, from $508 in 1995 to $295k in 2020.

In 2020, Bermuda did not export any services to South Korea.

Comparison In 2020, South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B). That same year, Bermuda ranked 174 in total exports ($238M), and does not have data regarding Economic Complexity Index.

Latest Trends

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January, 2023

About

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Overview In January 2023, South Korea exported $213k and imported $0 from Bermuda, resulting in a positive trade balance of $213k. Between January 2022 and January 2023 the exports of South Korea have increased by $80k (60.2%) from $133k to $213k, while imports remained the same by $0 (N/A%) from $0 to $0.

Trade In January 2023, the top exports of South Korea to Bermuda were Cars, tractors, trucks & parts thereof. ($133k), Plastics & articles thereof ($0), Paper articles ($0), Books, newspapers, & other prints ($0), and Knitted clothing accesories ($0). In January 2023 the top imports of South Korea from Bermuda were Plastics & articles thereof ($0), Paper articles ($0), Books, newspapers, & other prints ($0), Knitted clothing accesories ($0), and Machinery, mechanical appliances, & parts ($0).

Growth In January 2023, the increase in South Korea's year-by-year exports to Bermuda was explained primarily by an increase in product exports in . In January 2023, the change in South Korea's year-by-year imports from Bermuda was explained primarily by an decrease in product imports in .

Latest Trade

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Flow

Time Scale

Depth

Value

EXPORT GROWTH (January 2022 - January 2023): $80k, (60.2%)

IMPORT GROWTH (January 2022 - January 2023): $0, (N/A%)

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 Bermuda and South Korea trade dynamics, check the bilateral page.

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Historical Data

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Bilateral Trade by Products

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Depth

Value

Year

In 2020, South Korea exported $1.24B to Bermuda. The main products exported from South Korea to Bermuda were Passenger and Cargo Ships ($1.24B), Cars ($6.01M), and Refined Petroleum ($54.3k). During the last 25 years the exports of South Korea to Bermuda have increased at an annualized rate of 13.7%, from $50.5M in 1995 to $1.24B in 2020.

In 2020, Bermuda exported $295k to South Korea. The main products exported from Bermuda to South Korea were Refined Petroleum ($290k), Engine Parts ($960), and Telephones ($889). During the last 22 years the exports of Bermuda to South Korea have increased at an annualized rate of 29%, from $508 in 1998 to $295k in 2020.

Market Competitiveness

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Measure

SectionYear

South Korea
Top Destination: China, $131B

Bermuda
Top Destination: Netherlands, $200M

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

In 2019, countries that imported more from South Korea than Bermuda were China ($131B), United States ($75B), and Vietnam ($48B).

In 2019, countries that imported more from Bermuda than South Korea were North Korea ($1.16k).

Comparative Advantage South Korea - Bermuda

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Flow

Scale

Year

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

During 2020, South Korea had a large net trade with Bermuda in the exports of Transportation ($1.24B), Machines ($119k), and Chemical Products ($64.7k).

During 2020, Bermuda had a large net trade with South Korea in the exports of Mineral Products ($290k), Machines ($2.36k), and Textiles ($608).

Economic Complexity

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Competitive Landscape

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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 South Korea has comparative advantage over Bermuda. Similarly, the more yellow a dot/product is, the more Bermuda has comparative advantage over South Korea.

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Latest Trends

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Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage South Korea - Bermuda

Economic Complexity

Competitive Landscape

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