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Pricing

2022
Flag → Flag
Exports $1.09BRnk 55 / 220
2022
Flag → Flag
Top Product $461MRefined Petroleum
2022
Flag → Flag
Exports $205MRnk 23 / 170
2022
Flag → Flag
Top Product $107MCrude Petroleum
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.96Rnk 109 / 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
Flag
 GDP$115BCURRENT US$
Rnk 62 / 186
2012-2022
Flag
GDP GROWTH30.9%CURRENT US$
Rnk 98 / 186
2022
Flag
GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC$6,391CURRENT US$
Rnk 101 / 186
2012-2022
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GDP PC GROWTH12.6%CURRENT US$
Rnk 106 / 186

About

South Korea-Ecuador Trade: In 2022, South Korea exported $1.09B to Ecuador. The main products that South Korea exported to Ecuador were Refined Petroleum ($461M), Coal Tar Oil ($182M), and Cars ($82.4M). Over the past 5 years the exports of South Korea to Ecuador have increased at an annualized rate of 9.58%, from $687M in 2017 to $1.09B in 2022.

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

Ecuador-South Korea In N/A, Ecuador did not export any products to South Korea.

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

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Ecuador ranked 109 in the Economic Complexity Index (ECI -0.96), and 68 in total exports ($36B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $24.1M and imported $5.98M from Ecuador, resulting in a positive trade balance of $18.1M. Between October 2023 and October 2024 the exports of South Korea have decreased by $-79.2M (-76.7%) from $103M to $24.1M, while imports increased by $980k (19.6%) from $5M to $5.98M.

Trade In October 2024, the top exports of South Korea to Ecuador were Cars, tractors, trucks & parts thereof. ($9.71M), Plastics & articles thereof ($4.05M), Iron & steel ($3.77M), Mineral fuels, mineral oils and products... ($2.65M), and Machinery, mechanical appliances, & parts ($2.44M). In October 2024 the top imports of South Korea from Ecuador were Fish, Crustaceans & Molluscs ($6.11M), Copper articles ($1.32M), Edible fruits, nuts & fruit peels ($340k), Products of the milling industry ($44k), and Food residues & wastes; animal fodder ($42k).

Growth In October 2024, the decrease in South Korea's year-by-year exports to Ecuador was explained primarily by an decrease in product exports in Iron & steel ($-5.99M or -61.4%), Machinery, mechanical appliances, & parts ($-3.44M or -58.5%), and Plastics & articles thereof ($-2.56M or -38.7%). In October 2024, the increase in South Korea's year-by-year imports  from Ecuador was explained primarily by an increase in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$-79.2M(-76.7%)
IMPORT GROWTH (October 2023 - October 2024)$980k(19.6%)

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

For full datasets download visit Bulk Download page.

Explore Ecuador and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $1.09B to Ecuador. The main products exported from South Korea to Ecuador were Refined Petroleum ($461M), Coal Tar Oil ($182M), and Cars ($82.4M). During the last 5 years the exports of South Korea to Ecuador have increased at an annualized rate of 9.58%, from $687M in 2017 to $1.09B in 2022.

Ecuador does not register exports to South Korea. The main products exported from Ecuador to South Korea were Crude Petroleum ($107M), Crustaceans ($63.6M), and Scrap Copper ($19.9M).

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Ecuador
Top DestinationUnited States$9.86B

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

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

In 2022, countries that imported more from Ecuador than South Korea included Panama ($4.97B), Peru ($1.02B), and Colombia ($1.07B).

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

Comparative Advantage South Korea - Ecuador

Flow
Scale

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

During 2022, South Korea had a large net trade with Ecuador in the exports of Mineral Products ($644M), Transportation ($133M), and Plastics and Rubbers ($78.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Ecuador+$34.9MCars
Top Product Potential Ecuador South Korea+$132MCrude 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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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and Ecuador. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Ecuador. Similarly, a dot/product with the flag of Ecuador indicates it has a comparative advantage over South Korea.

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

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