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Pricing

2022
Flag → Flag
Exports $1.09BRnk 55 / 220
2022
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Top Product $461MRefined Petroleum
2022
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Exports $205MRnk 23 / 170
2022
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Top Product $107MCrude Petroleum
2022
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Economic Complexity (ECI) ECI 1.71Rnk 4 / 124
2022
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Economic Complexity (ECI) ECI -0.96Rnk 102 / 124
2022
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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$115BCURRENT US$
Rnk 62 / 186
2012-2022
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GDP GROWTH30.9%CURRENT US$
Rnk 98 / 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$6,391CURRENT US$
Rnk 101 / 186
2012-2022
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GDP PC GROWTH12.6%CURRENT US$
Rnk 106 / 186

About

South Korea-Ecuador In 2022, South Korea exported $1.09B to Ecuador. The main products that South Korea exported to Ecuador are Refined Petroleum ($461M), Coal Tar Oil ($182M), and Cars ($82.4M). During the last 27 years the exports of South Korea to Ecuador have increased at an annualized rate of 8.89%, from $109M in 1995 to $1.09B in 2022.

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

Ecuador-South Korea In 2022, Ecuador exported $205M to South Korea. The main products that Ecuador exported to South Korea were Crude Petroleum ($107M), Crustaceans ($63.6M), and Scrap Copper ($19.9M). During the last 27 years the exports of Ecuador to South Korea have decreased at an annualized rate of 1.27%, from $290M in 1995 to $205M in 2022.

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

Comparison In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B). That same year, Ecuador ranked 102 in the Economic Complexity Index (ECI -0.96), and 68 in total exports ($36B).

Latest Trends

February, 2024

About

Overview In February 2024, South Korea exported $90.3M and imported $91.6M from Ecuador, resulting in a negative trade balance of $1.34M. Between February 2023 and February 2024 the exports of South Korea have increased by $56.5M (167%) from $33.8M to $90.3M, while imports increased by $86.4M (1.65k%) from $5.24M to $91.6M.

Trade In February 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 February 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 February 2024, the increase in South Korea's year-by-year exports to Ecuador was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($3.52M or 56.7%), Mineral fuels, mineral oils and products... ($997k or 60.3%), and Perfumery & cosmetics ($96k or 331%). In February 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

Flow
Time Scale
Depth
Value
EXPORT GROWTH (February 2023 - February 2024)$56.5M(167%)
IMPORT GROWTH (February 2023 - February 2024)$86.4M(1.65k%)

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.

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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 27 years the exports of South Korea to Ecuador have increased at an annualized rate of 8.89%, from $109M in 1995 to $1.09B in 2022.

In 2022, Ecuador exported $205M to South Korea. The main products exported from Ecuador to South Korea were Crude Petroleum ($107M), Crustaceans ($63.6M), and Scrap Copper ($19.9M). During the last 27 years the exports of Ecuador to South Korea have decreased at an annualized rate of 1.27%, from $290M in 1995 to $205M in 2022.

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 2021, countries that imported more from South Korea than Ecuador were China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2021, countries that imported more from Ecuador than South Korea were 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).

During 2022, Ecuador had a large net trade with South Korea in the exports of Mineral Products ($107M), Animal Products ($64.8M), and Metals ($22.1M).

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more South Korea has comparative advantage over Ecuador. Similarly, the more yellow a dot/product is, the more Ecuador has comparative advantage over South Korea.

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

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