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2022
Flag → Flag
Exports $639MRnk 63 / 220
2022
Flag → Flag
Top Product $142MHot-Rolled Iron
2022
Flag → Flag
Exports $1.04BRnk 20 / 218
2022
Flag → Flag
Top Product $134MPackaged Medicaments
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.01Rnk 27 / 133
2022
Flag  
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$395BCURRENT US$
Rnk 39 / 186
2012-2022
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GDP GROWTH20.9%CURRENT US$
Rnk 120 / 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$66,983CURRENT US$
Rnk 10 / 186
2012-2022
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GDP PC GROWTH14.5%CURRENT US$
Rnk 99 / 186

About

South Korea-Denmark Trade: In 2022, South Korea exported $639M to Denmark. The main products that South Korea exported to Denmark were Hot-Rolled Iron ($142M), Cars ($139M), and Engine Parts ($35.3M). Over the past 5 years the exports of South Korea to Denmark have decreased at an annualized rate of 14.4%, from $1.39B in 2017 to $639M in 2022.

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

Denmark-South Korea Trade: In 2022, Denmark exported $1.04B to South Korea. The main products that Denmark exported to South Korea were Packaged Medicaments ($134M), Liquid Pumps ($62.6M), and Pig Meat ($61.2M). Over the past 5 years the exports of Denmark to South Korea have increased at an annualized rate of 8.43%,  from $694M in 2017 to $1.04B in 2022.

In 2020, Denmark exported services to South Korea worth $836M, with Transportation ($674M), Royalties and license fees ($81.7M), and Computer and information services ($37.1M) 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, Denmark ranked 27 in the Economic Complexity Index (ECI 1.01), and 37 in total exports ($122B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $231M and imported $102M from Denmark, resulting in a positive trade balance of $129M. Between October 2023 and October 2024 the exports of South Korea have increased by $178M (337%) from $52.9M to $231M, while imports increased by $32.4M (46.7%) from $69.5M to $102M.

Trade In October 2024, the top exports of South Korea to Denmark were Iron & steel ($20.9M), Cars, tractors, trucks & parts thereof. ($12.5M), Machinery, mechanical appliances, & parts ($7.89M), Electrical machinery and electronics ($2.56M), and Plastics & articles thereof ($1.89M). In October 2024 the top imports of South Korea from Denmark were Pharmaceutical products ($23.9M), Machinery, mechanical appliances, & parts ($22.9M), Meat & edible offal ($5.96M), Glues, starches, & albuminoid products ($5.89M), and Edible products of animal origin, n.e.s. ($5.54M).

Growth In October 2024, the increase in South Korea's year-by-year exports to Denmark was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($3.72M or 42.5%), Machinery, mechanical appliances, & parts ($2.35M or 42.4%), and Natural gums, resins & other vegetable... ($441k or 68.3%). In October 2024, the increase in South Korea's year-by-year imports  from Denmark was explained primarily by an increase in product imports  in Pharmaceutical products ($10.6M or 79.2%), Machinery, mechanical appliances, & parts ($7.14M or 45.3%), and Miscellaneous edible preparations ($3.26M or 221%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$178M(337%)
IMPORT GROWTH (October 2023 - October 2024)$32.4M(46.7%)

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

For full datasets download visit Bulk Download page.

Explore Denmark and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $639M to Denmark. The main products exported from South Korea to Denmark were Hot-Rolled Iron ($142M), Cars ($139M), and Engine Parts ($35.3M). During the last 5 years the exports of South Korea to Denmark have decreased at an annualized rate of 14.4%, from $1.39B in 2017 to $639M in 2022.

In 2017, Denmark exported $1.04B to South Korea. The main products exported from Denmark to South Korea were Packaged Medicaments ($134M), Liquid Pumps ($62.6M), and Pig Meat ($61.2M). During the last 5 years the exports of Denmark to South Korea have increased at an annualized rate of 8.43%, from $694M in 2022 to $1.04B in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Denmark
Top DestinationGermany$18.9B

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

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

In 2022, countries that imported more from Denmark than South Korea included Sweden ($11.6B), Germany ($18.9B), and Norway ($6.53B).

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

Comparative Advantage South Korea - Denmark

Flow
Scale

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

During 2022, South Korea had a large net trade with Denmark in the exports of Metals ($179M), Transportation ($144M), and Machines ($117M).

During 2017, Denmark had a large net trade with South Korea in the exports of Machines ($293M), Chemical Products ($261M), and Animal Products ($133M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Denmark+$87.8MCars
Top Product Potential Denmark South Korea+$64MPackaged Medicaments

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, Denmark exported services to South Korea worth $836M, with Transportation ($674M), Royalties and license fees ($81.7M), and Computer and information services ($37.1M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

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