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2023
Flag → Flag
Exports $931MRnk 43 / 142
2023
Flag → Flag
Top Product $221MRefined Petroleum
2023
Flag → Flag
Exports $891MRnk 23 / 217
2023
Flag → Flag
Top Product $61.3MPassenger and Cargo Ships
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.13Rnk 22 / 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$407BCURRENT US$
Rnk 35 / 195
2013-2023
Flag
GDP GROWTH18.1%CURRENT US$
Rnk 146 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$68,454CURRENT US$
Rnk 14 / 196
2013-2023
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GDP PC GROWTH11.5%CURRENT US$
Rnk 129 / 195

About

South Korea-Denmark Trade: In 2023, South Korea exported $931M to Denmark. The main products that South Korea exported to Denmark were Refined Petroleum ($221M), Cars ($203M), and Hot-Rolled Iron ($119M). Over the past 5 years the exports of South Korea to Denmark have decreased at an annualized rate of 4.31%, from $1.16B in 2018 to $931M in 2023.

In 2023, South Korea did not export any services to Denmark.

Denmark-South Korea Trade: In 2023, Denmark exported $891M to South Korea. The main products that Denmark exported to South Korea were Passenger and Cargo Ships ($61.3M), Valves ($48.7M), and Cheese ($47M). Over the past 5 years the exports of Denmark to South Korea have increased at an annualized rate of 2.04%,  from $805M in 2018 to $891M in 2023.

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 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Denmark ranked 22 in the Economic Complexity Index (ECI 1.13), and 37 in total exports ($118B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $230M and imported $110M from Denmark, resulting in a positive trade balance of $120M. Between December 2023 and December 2024 the exports of South Korea have increased by $180M (353%) from $50.8M to $230M, while imports increased by $20.1M (22.3%) from $90.1M to $110M.

Trade In December 2024, the top exports of South Korea to Denmark were Ships, boats, & floating structures ($187M), Machinery, mechanical appliances, & parts ($8.65M), Iron/Steel Articles ($5.53M), Iron & steel ($5.39M), and Electrical machinery and electronics ($4.03M). In December 2024 the top imports of South Korea from Denmark were Pharmaceutical products ($17.8M), Machinery, mechanical appliances, & parts ($13.4M), Glues, starches, & albuminoid products ($6.14M), Meat & edible offal ($5.65M), and Electrical machinery and electronics ($4.59M).

Growth In December 2024, the increase in South Korea's year-by-year exports to Denmark was explained primarily by an increase in product exports in Iron/Steel Articles ($4.61M or 502%), Electrical machinery and electronics ($1.48M or 57.8%), and Plastics & articles thereof ($1.08M or 57%). In December 2024, the increase in South Korea's year-by-year imports  from Denmark was explained primarily by an increase in product imports  in Electrical machinery and electronics ($1.87M or 68.7%), Iron/Steel Articles ($1.55M or 262%), and Paints, dyes, & varnishes ($709k or 10.1k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$180M(353%)
IMPORT GROWTH (December 2023 - December 2024)$20.1M(22.3%)

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 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 2023, South Korea exported $931M to Denmark. The main products exported from South Korea to Denmark were Refined Petroleum ($221M), Cars ($203M), and Hot-Rolled Iron ($119M). During the last 5 years the exports of South Korea to Denmark have decreased at an annualized rate of 4.31%, from $1.16B in 2018 to $931M in 2023.

In 2018, Denmark exported $891M to South Korea. The main products exported from Denmark to South Korea were Passenger and Cargo Ships ($61.3M), Valves ($48.7M), and Cheese ($47M). During the last 5 years the exports of Denmark to South Korea have increased at an annualized rate of 2.04%, from $805M in 2023 to $891M in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Denmark
Top DestinationGermany$14.8B

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 2023, countries that imported more from South Korea than Denmark included China ($162B), United States ($118B), and Hong Kong ($28.8B).

In 2023, countries that imported more from Denmark than South Korea included Sweden ($11.2B), Norway ($4.75B), and Netherlands ($7.89B).

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

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 2023, South Korea had a large net trade with Denmark in the exports of Transportation ($259M), Mineral Products ($221M), and Metals ($175M).

During 2018, Denmark had a large net trade with South Korea in the exports of Machines ($285M), Animal Products ($111M), and Instruments ($105M).

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) (2023)

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