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2022
Flag → Flag
Exports $7.08BRnk 20 / 220
2022
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Top Product $2.25BCars
2022
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Exports $5.88BRnk 21 / 224
2022
Flag → Flag
Top Product $968MCrude Petroleum
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 1.42Rnk 12 / 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$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
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GDP GROWTH13.5%CURRENT US$
Rnk 139 / 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$45,850CURRENT US$
Rnk 23 / 186
2012-2022
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GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186

About

South Korea-United Kingdom Trade: In 2022, South Korea exported $7.08B to United Kingdom. The main products that South Korea exported to United Kingdom were Cars ($2.25B), Broadcasting Equipment ($563M), and Platinum ($295M). Over the past 5 years the exports of South Korea to United Kingdom have decreased at an annualized rate of 4.37%, from $8.86B in 2017 to $7.08B in 2022.

In 2005, South Korea exported services to United Kingdom worth $1.82B, with Transportation ($656M), Other business services ($515M), and Services not allocated ($409M) being the largest in terms of value.

United Kingdom-South Korea Trade: In 2022, United Kingdom exported $5.88B to South Korea. The main products that United Kingdom exported to South Korea were Crude Petroleum ($968M), Cars ($642M), and Platinum ($395M). Over the past 5 years the exports of United Kingdom to South Korea have decreased at an annualized rate of 3.64%,  from $7.08B in 2017 to $5.88B in 2022.

In 2019, United Kingdom exported services to South Korea worth $2.87B, with Other business services ($1.38B), Transportation ($384M), and Royalties and license fees ($334M) 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, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $670M and imported $331M from United Kingdom, resulting in a positive trade balance of $338M. Between October 2023 and October 2024 the exports of South Korea have increased by $247M (58.4%) from $423M to $670M, while imports decreased by $-248M (-42.8%) from $579M to $331M.

Trade In October 2024, the top exports of South Korea to United Kingdom were Cars, tractors, trucks & parts thereof. ($203M), Machinery, mechanical appliances, & parts ($69.7M), Electrical machinery and electronics ($39.8M), Plastics & articles thereof ($24.4M), and Precious stones, metals, & pearls ($23.3M). In October 2024 the top imports of South Korea from United Kingdom were Cars, tractors, trucks & parts thereof. ($124M), Machinery, mechanical appliances, & parts ($47.5M), Precious stones, metals, & pearls ($29.5M), Optical, photo, & film equipment; medical... ($28.6M), and Pharmaceutical products ($25.2M).

Growth In October 2024, the increase in South Korea's year-by-year exports to United Kingdom was explained primarily by an increase in product exports in Machinery, mechanical appliances, & parts ($20.9M or 42.7%), Electrical machinery and electronics ($7.53M or 23.3%), and Knitted clothing accesories ($3.17M or 400%). In October 2024, the decrease in South Korea's year-by-year imports  from United Kingdom was explained primarily by an decrease in product imports  in Ships, boats, & floating structures ($-37.6M or -97.5%), Machinery, mechanical appliances, & parts ($-15.3M or -24.4%), and Aircraft and spacecraft ($-4.94M or -41.6%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$247M(58.4%)
IMPORT GROWTH (October 2023 - October 2024)$-248M(-42.8%)

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 United Kingdom and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore United Kingdom and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $7.08B to United Kingdom. The main products exported from South Korea to United Kingdom were Cars ($2.25B), Broadcasting Equipment ($563M), and Platinum ($295M). During the last 5 years the exports of South Korea to United Kingdom have decreased at an annualized rate of 4.37%, from $8.86B in 2017 to $7.08B in 2022.

In 2017, United Kingdom exported $5.88B to South Korea. The main products exported from United Kingdom to South Korea were Crude Petroleum ($968M), Cars ($642M), and Platinum ($395M). During the last 5 years the exports of United Kingdom to South Korea have decreased at an annualized rate of 3.64%, from $7.08B in 2022 to $5.88B in 2017.

Exports from South Korea (Flag) to United Kingdom (Flag) (2022)

Exports from United Kingdom (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
United Kingdom
Top DestinationUnited States$61.8B

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

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

In 2022, countries that imported more from United Kingdom than South Korea included Netherlands ($41.9B), Ireland ($32.6B), and Germany ($40.6B).

Difference in imports from United Kingdom (Flag) and South Korea (Flag) (2022)

Comparative Advantage South Korea - United Kingdom

Flow
Scale

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

During 2022, South Korea had a large net trade with United Kingdom in the exports of Transportation ($2.7B), Machines ($1.9B), and Chemical Products ($489M).

During 2017, United Kingdom had a large net trade with South Korea in the exports of Machines ($1.14B), Mineral Products ($983M), and Transportation ($806M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea United Kingdom+$444MCars
Top Product Potential United Kingdom South Korea+$387MCrude 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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Bilateral Service Trade

In 2005, South Korea exported services to United Kingdom worth $1.82B, with Transportation ($656M), Other business services ($515M), and Services not allocated ($409M) being the largest in terms of value.

In 2019, United Kingdom exported services to South Korea worth $2.87B, with Other business services ($1.38B), Transportation ($384M), and Royalties and license fees ($334M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to United Kingdom (Flag) (2005)

Services Exports from United Kingdom (Flag) to South Korea (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of South Korea (Flag) and United Kingdom (Flag) (2022)

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