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2022
Flag → Flag
Exports $118MRnk 109 / 220
2022
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Top Product $20.8MCars
2022
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Exports $66.9MRnk 43 / 188
2022
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Top Product $8.96MPlywood
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
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$38.1BCURRENT US$
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2012-2022
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GDP GROWTH65.5%CURRENT US$
Rnk 34 / 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$28,333CURRENT US$
Rnk 41 / 186
2012-2022
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GDP PC GROWTH62.8%CURRENT US$
Rnk 23 / 186

About

South Korea-Estonia Trade: In 2022, South Korea exported $118M to Estonia. The main products that South Korea exported to Estonia were Cars ($20.8M), Military Weapons ($15.6M), and Beauty Products ($7.93M). Over the past 5 years the exports of South Korea to Estonia have increased at an annualized rate of 4.16%, from $96.3M in 2017 to $118M in 2022.

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

Estonia-South Korea Trade: In 2022, Estonia exported $66.9M to South Korea. The main products that Estonia exported to South Korea were Plywood ($8.96M), Sawn Wood ($7.22M), and Wheat ($6.8M). Over the past 5 years the exports of Estonia to South Korea have decreased at an annualized rate of 4.81%,  from $85.6M in 2017 to $66.9M in 2022.

In 2020, Estonia exported services to South Korea worth $3.88M, with Transportation ($1.6M), Other business services ($1.26M), and Travel ($685k) 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, Estonia ranked 74 in total exports ($23.1B), and does not have data regarding Economic Complexity Index.

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $7.35M and imported $7.7M from Estonia, resulting in a negative trade balance of $351k. Between October 2023 and October 2024 the exports of South Korea have increased by $2.41M (48.8%) from $4.94M to $7.35M, while imports increased by $170k (2.26%) from $7.53M to $7.7M.

Trade In October 2024, the top exports of South Korea to Estonia were Cars, tractors, trucks & parts thereof. ($2.22M), Perfumery & cosmetics ($790k), Man-made filaments ($495k), Electrical machinery and electronics ($307k), and Man-made staple fibres ($288k). In October 2024 the top imports of South Korea from Estonia were Wood, wood articles, & charcoal ($2.17M), Electrical machinery and electronics ($1.57M), Optical, photo, & film equipment; medical... ($712k), Mineral fuels, mineral oils and products... ($371k), and Used clothes & textile articles ($308k).

Growth In October 2024, the increase in South Korea's year-by-year exports to Estonia was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($1.78M or 402%), Perfumery & cosmetics ($330k or 71.7%), and Man-made filaments ($288k or 139%). In October 2024, the increase in South Korea's year-by-year imports  from Estonia was explained primarily by an increase in product imports  in Electrical machinery and electronics ($787k or 100%), Wood, wood articles, & charcoal ($569k or 35.6%), and Used clothes & textile articles ($272k or 756%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$2.41M(48.8%)
IMPORT GROWTH (October 2023 - October 2024)$170k(2.26%)

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

For full datasets download visit Bulk Download page.

Explore Estonia and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $118M to Estonia. The main products exported from South Korea to Estonia were Cars ($20.8M), Military Weapons ($15.6M), and Beauty Products ($7.93M). During the last 5 years the exports of South Korea to Estonia have increased at an annualized rate of 4.16%, from $96.3M in 2017 to $118M in 2022.

In 2017, Estonia exported $66.9M to South Korea. The main products exported from Estonia to South Korea were Plywood ($8.96M), Sawn Wood ($7.22M), and Wheat ($6.8M). During the last 5 years the exports of Estonia to South Korea have decreased at an annualized rate of 4.81%, from $85.6M in 2022 to $66.9M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Estonia
Top DestinationFinland$3B

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

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

In 2022, countries that imported more from Estonia than South Korea included Latvia ($2.77B), Finland ($3B), and Lithuania ($1.51B).

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

Comparative Advantage South Korea - Estonia

Flow
Scale

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

During 2022, South Korea had a large net trade with Estonia in the exports of Transportation ($26.3M), Machines ($22.1M), and Weapons ($15.8M).

During 2017, Estonia had a large net trade with South Korea in the exports of Wood Products ($23.4M), Machines ($10.3M), and Instruments ($8.31M).

Bilateral Service Trade

In 2020, Estonia exported services to South Korea worth $3.88M, with Transportation ($1.6M), Other business services ($1.26M), and Travel ($685k) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

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