Flag South Korea / Bermuda Flag

2020
FlagFlag
Exports
: $1.24B, Rnk 42 / 218

2020
FlagFlag
Top Product
: $1.24B, Passenger and Cargo Ships

2020
FlagFlag
Exports
: $295k, Rnk 10 / 75

2020
FlagFlag
Top Product
: $290k, Refined Petroleum

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

2020
Flag  
GDP
: $1.64T, CURRENT US$
Rnk 10 / 204

2010-2020
Flag
GDP GROWTH
: 43.2%, CURRENT US$
Rnk 70 / 204

2020
Flag
 GDP
: $6.88B, CURRENT US$
Rnk 153 / 204

2010-2020
Flag
GDP GROWTH
: 3.72%, CURRENT US$
Rnk 153 / 204

2020
Flag
GDP PC 
: $31,598, CURRENT US$
Rnk 37 / 204

2010-2020
Flag
GDP PC GROWTH
: 36.9%, CURRENT US$
Rnk 47 / 204

2020
Flag
GDP PC
: $107,706, CURRENT US$
Rnk 3 / 204

2010-2020
Flag
GDP PC GROWTH
: 5.72%, CURRENT US$
Rnk 119 / 204

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.

Historical Data

#permalink to section

Bilateral Trade by Products

#permalink to section
Depth
Value

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

#permalink to section
Measure

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

#permalink to section
Flow
Scale

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

#permalink to section

Competitive Landscape

#permalink to section

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.