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2023
Flag → Flag
Exports $13.9BRnk 10 / 142
2023
Flag → Flag
Top Product $2.96BCars
2023
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Exports $21.8BRnk 18 / 220
2023
Flag → Flag
Top Product $6.3BCars
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 1.79Rnk 5 / 132
2023
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GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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 GDP$4.53TCURRENT US$
Rnk 3 / 195
2013-2023
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GDP GROWTH18.8%CURRENT US$
Rnk 144 / 195
2023
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GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$54,343CURRENT US$
Rnk 21 / 196
2013-2023
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GDP PC GROWTH15.1%CURRENT US$
Rnk 118 / 195

About

South Korea-Germany Trade: In 2023, South Korea exported $13.9B to Germany. The main products that South Korea exported to Germany were Cars ($2.96B), Integrated Circuits ($1.28B), and Electric Batteries ($979M). Over the past 5 years the exports of South Korea to Germany have increased at an annualized rate of 0.93%, from $13.3B in 2018 to $13.9B in 2023.

In 2005, South Korea exported services to Germany worth $1.78B, with Other business services ($826M), Transportation ($704M), and Travel ($121M) being the largest in terms of value.

Germany-South Korea Trade: In 2023, Germany exported $21.8B to South Korea. The main products that Germany exported to South Korea were Cars ($6.3B), Planes, Helicopters, and/or Spacecraft ($956M), and Motor vehicles; parts and accessories (8701 to 8705) ($655M). Over the past 5 years the exports of Germany to South Korea have increased at an annualized rate of 1.41%,  from $20.4B in 2018 to $21.8B in 2023.

In 2020, Germany exported services to South Korea worth $2.27B, with Other business services ($958M), Transportation ($719M), and Royalties and license fees ($369M) 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, Germany ranked 5 in the Economic Complexity Index (ECI 1.79), and 3 in total exports ($1.57T).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $612M and imported $1.98B from Germany, resulting in a negative trade balance of $1.36B. Between December 2023 and December 2024 the exports of South Korea have decreased by $-144M (-19%) from $756M to $612M, while imports increased by $67.6M (3.54%) from $1.91B to $1.98B.

Trade In December 2024, the top exports of South Korea to Germany were Cars, tractors, trucks & parts thereof. ($230M), Electrical machinery and electronics ($140M), Machinery, mechanical appliances, & parts ($93.9M), Rubber & articles thereof ($61.6M), and Plastics & articles thereof ($52.8M). In December 2024 the top imports of South Korea from Germany were Machinery, mechanical appliances, & parts ($329M), Cars, tractors, trucks & parts thereof. ($312M), Electrical machinery and electronics ($240M), Optical, photo, & film equipment; medical... ($136M), and Pharmaceutical products ($135M).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Germany was explained primarily by an decrease in product exports in Electrical machinery and electronics ($-50.8M or -26.6%), Organic chemicals ($-6.97M or -30.8%), and Iron/Steel Articles ($-4.36M or -28%). In December 2024, the increase in South Korea's year-by-year imports  from Germany was explained primarily by an increase in product imports  in Pharmaceutical products ($16.6M or 14.1%), Electrical machinery and electronics ($11M or 4.81%), and Precious stones, metals, & pearls ($4.27M or 54.4%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-144M(-19%)
IMPORT GROWTH (December 2023 - December 2024)$67.6M(3.54%)

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

For full datasets download visit Bulk Download page.

Explore Germany and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $13.9B to Germany. The main products exported from South Korea to Germany were Cars ($2.96B), Integrated Circuits ($1.28B), and Electric Batteries ($979M). During the last 5 years the exports of South Korea to Germany have increased at an annualized rate of 0.93%, from $13.3B in 2018 to $13.9B in 2023.

In 2018, Germany exported $21.8B to South Korea. The main products exported from Germany to South Korea were Cars ($6.3B), Planes, Helicopters, and/or Spacecraft ($956M), and Motor vehicles; parts and accessories (8701 to 8705) ($655M). During the last 5 years the exports of Germany to South Korea have increased at an annualized rate of 1.41%, from $20.4B in 2023 to $21.8B in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Germany
Top DestinationUnited States$157B

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

In 2023, countries that imported more from South Korea than Germany included China ($162B), Hong Kong ($28.8B), and Singapore ($25.3B).

In 2023, countries that imported more from Germany than South Korea included France ($118B), Netherlands ($108B), and Italy ($94.7B).

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

Comparative Advantage South Korea - Germany

Flow
Scale

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

During 2023, South Korea had a large net trade with Germany in the exports of Machines ($5.64B), Transportation ($3.79B), and Chemical Products ($1.4B).

During 2018, Germany had a large net trade with South Korea in the exports of Transportation ($8.28B), Machines ($6.24B), and Chemical Products ($2.9B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Germany+$808MCars
Top Product Potential Germany South Korea+$238MMotor 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 2005, South Korea exported services to Germany worth $1.78B, with Other business services ($826M), Transportation ($704M), and Travel ($121M) being the largest in terms of value.

In 2020, Germany exported services to South Korea worth $2.27B, with Other business services ($958M), Transportation ($719M), and Royalties and license fees ($369M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

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

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