South Korea (KOR) and Eritrea (ERI) Trade | The Observatory of Economic Complexity

About

South Korea-Eritrea Trade: In 2022, South Korea exported $1.36M to Eritrea. The main products that South Korea exported to Eritrea were Electric Batteries ($493k), Vaccines, blood, antisera, toxins and cultures ($383k), and Washing and Bottling Machines ($168k). Over the past 5 years the exports of South Korea to Eritrea have increased at an annualized rate of 8.7%, from $896k in 2017 to $1.36M in 2022.

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

Eritrea-South Korea Trade: In 2022, Eritrea exported $74.3M to South Korea. The main products that Eritrea exported to South Korea were Zinc Ore ($74.3M), Aluminium Foil ($514), and Motor vehicles; parts and accessories (8701 to 8705) ($457). Over the past 5 years the exports of Eritrea to South Korea have decreased at an annualized rate of 0.31%, from $75.5M in 2017 to $74.3M in 2022.

In 2022, Eritrea 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, Eritrea ranked 163 in total exports ($789M), and does not have data regarding Economic Complexity Index.

Latest Trends

September, 2024

About

Overview In September 2024, South Korea exported $175k and imported $28.1M from Eritrea, resulting in a negative trade balance of $27.9M. Between September 2023 and September 2024 the exports of South Korea have decreased by $-121k (-40.9%) from $296k to $175k, while imports increased by $28.1M (N/A%) from $0 to $28.1M.

Trade In September 2024, the top exports of South Korea to Eritrea were Chemical products n.e.s. ($2k), Ores, slag and ash ($0), and Leather articles ($0). In September 2024 the top imports of South Korea from Eritrea were Ores, slag and ash ($11.2M), Chemical products n.e.s. ($0), and Leather articles ($0).

Growth In September 2024, the decrease in South Korea's year-by-year exports to Eritrea was explained primarily by an decrease in product exports in . In September 2024, the increase in South Korea's year-by-year imports from Eritrea was explained primarily by an increase in product imports in .

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, South Korea exported $1.36M to Eritrea. The main products exported from South Korea to Eritrea were Electric Batteries ($493k), Vaccines, blood, antisera, toxins and cultures ($383k), and Washing and Bottling Machines ($168k). During the last 5 years the exports of South Korea to Eritrea have increased at an annualized rate of 8.7%, from $896k in 2017 to $1.36M in 2022.

In 2017, Eritrea exported $74.3M to South Korea. The main products exported from Eritrea to South Korea were Zinc Ore ($74.3M), Aluminium Foil ($514), and Motor vehicles; parts and accessories (8701 to 8705) ($457). During the last 5 years the exports of Eritrea to South Korea have decreased at an annualized rate of 0.31%, from $75.5M in 2022 to $74.3M in 2017.

Exports from South Korea () to Eritrea () (2022)

Exports from Eritrea () to South Korea () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

South Korea
Top DestinationChina$150B

Eritrea
Top DestinationChina$412M

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

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

In 2022, no countries were registered that imported more from Eritrea than from South Korea.

Difference in imports from Eritrea () and South Korea () (2022)

Comparative Advantage South Korea - Eritrea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, South Korea had a large net trade with Eritrea in the exports of Machines ($688k), Chemical Products ($383k), and Paper Goods ($123k).

During 2017, Eritrea had a large net trade with South Korea in the exports of Mineral Products ($74.3M), Metals ($514), and Transportation ($457).

Economic Complexity

Competitive Landscape

Year

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

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from South Korea () to Eritrea () (2022)

Exports from Eritrea () to South Korea () (2022)

Market Competitiveness

Difference in imports from Eritrea () and South Korea () (2022)

Comparative Advantage South Korea - Eritrea

Economic Complexity

Competitive Landscape

Product Space of South Korea () and Eritrea () (2022)

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from South Korea () to Eritrea () (2022)

Exports from Eritrea () to South Korea () (2022)

Market Competitiveness

Difference in imports from Eritrea () and South Korea () (2022)

Comparative Advantage South Korea - Eritrea

Economic Complexity

Competitive Landscape

Product Space of South Korea () and Eritrea () (2022)

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