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2023
Flag → Flag
Exports $10.2BRnk 13 / 142
2023
Flag → Flag
Top Product $4.5BCars
2023
Flag → Flag
Exports $5.1BRnk 9 / 215
2023
Flag → Flag
Top Product $1.55BCoal Briquettes
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.9Rnk 30 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$2.14TCURRENT US$
Rnk 10 / 195
2013-2023
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GDP GROWTH16%CURRENT US$
Rnk 150 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$53,431CURRENT US$
Rnk 22 / 196
2013-2023
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GDP PC GROWTH1.51%CURRENT US$
Rnk 152 / 195

About

South Korea-Canada Trade: In 2023, South Korea exported $10.2B to Canada. The main products that South Korea exported to Canada were Cars ($4.5B), Motor vehicles; parts and accessories (8701 to 8705) ($311M), and Large Construction Vehicles ($263M). Over the past 5 years the exports of South Korea to Canada have increased at an annualized rate of 7.09%, from $7.22B in 2018 to $10.2B in 2023.

In 2005, South Korea exported services to Canada worth $447M, with Transportation ($213M), Travel ($136M), and Other business services ($44.5M) being the largest in terms of value.

Canada-South Korea Trade: In 2023, Canada exported $5.1B to South Korea. The main products that Canada exported to South Korea were Coal Briquettes ($1.55B), Iron Ore ($517M), and Copper Ore ($509M). Over the past 5 years the exports of Canada to South Korea have decreased at an annualized rate of 1.59%,  from $5.52B in 2018 to $5.1B in 2023.

In 2020, Canada exported services to South Korea worth $594M, with Travel ($374M), Transportation ($151M), and Royalties and license fees ($29.1M) being the largest in terms of value.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Canada ranked 30 in the Economic Complexity Index (ECI 0.9), and 10 in total exports ($574B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $865M and imported $493M from Canada, resulting in a positive trade balance of $372M. Between December 2023 and December 2024 the exports of South Korea have increased by $50.4M (6.19%) from $815M to $865M, while imports decreased by $-62.6M (-11.3%) from $556M to $493M.

Trade In December 2024, the top exports of South Korea to Canada were Cars, tractors, trucks & parts thereof. ($474M), Electrical machinery and electronics ($114M), Machinery, mechanical appliances, & parts ($92.2M), Mineral fuels, mineral oils and products... ($47.6M), and Iron & steel ($32.5M). In December 2024 the top imports of South Korea from Canada were Mineral fuels, mineral oils and products... ($238M), Ores, slag and ash ($126M), Meat & edible offal ($39.4M), Fertilizers ($36.2M), and Wood pulp & paper scrap ($19.4M).

Growth In December 2024, the increase in South Korea's year-by-year exports to Canada was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($99.7M or 26.6%), Electrical machinery and electronics ($91.3M or 396%), and Mineral fuels, mineral oils and products... ($47.3M or 18k%). In December 2024, the decrease in South Korea's year-by-year imports  from Canada was explained primarily by an decrease in product imports  in Wood pulp & paper scrap ($-7.59M or -28.1%), Nickel articles ($-7.26M or -41.7%), and Animal or vegetable fats, oils, &... ($-5.96M or -88.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$50.4M(6.19%)
IMPORT GROWTH (December 2023 - December 2024)$-62.6M(-11.3%)

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

For full datasets download visit Bulk Download page.

Explore Canada and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $10.2B to Canada. The main products exported from South Korea to Canada were Cars ($4.5B), Motor vehicles; parts and accessories (8701 to 8705) ($311M), and Large Construction Vehicles ($263M). During the last 5 years the exports of South Korea to Canada have increased at an annualized rate of 7.09%, from $7.22B in 2018 to $10.2B in 2023.

In 2018, Canada exported $5.1B to South Korea. The main products exported from Canada to South Korea were Coal Briquettes ($1.55B), Iron Ore ($517M), and Copper Ore ($509M). During the last 5 years the exports of Canada to South Korea have decreased at an annualized rate of 1.59%, from $5.52B in 2023 to $5.1B in 2018.

Exports from South Korea (Flag) to Canada (Flag) (2023)

Exports from Canada (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Canada
Top DestinationUnited States$410B

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

In 2023, countries that imported more from South Korea than Canada included China ($162B), Chinese Taipei ($28.2B), and Hong Kong ($28.8B).

In 2023, countries that imported more from Canada than South Korea included United States ($410B), United Kingdom ($18B), and Switzerland ($6.71B).

Difference in imports from Canada (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - Canada

Flow
Scale

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

During 2023, South Korea had a large net trade with Canada in the exports of Transportation ($4.9B), Machines ($2.21B), and Metals ($997M).

During 2018, Canada had a large net trade with South Korea in the exports of Mineral Products ($3.02B), Animal Products ($331M), and Metals ($299M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Canada+$197MMotor vehicles; parts and accessories (8701 to 8705)
Top Product Potential Canada South Korea+$425MCrude Petroleum

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 2005, South Korea exported services to Canada worth $447M, with Transportation ($213M), Travel ($136M), and Other business services ($44.5M) being the largest in terms of value.

In 2020, Canada exported services to South Korea worth $594M, with Travel ($374M), Transportation ($151M), and Royalties and license fees ($29.1M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Canada (Flag) (2005)

Services Exports from Canada (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 Canada. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Canada. Similarly, a dot/product with the flag of Canada indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and Canada (Flag) (2023)

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