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2023
Flag → Flag
Exports $116MRnk 92 / 142
2023
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Top Product $52.4MCars
2023
Flag → Flag
Exports $5MRnk 57 / 158
2023
Flag → Flag
Top Product $1.06MMotor vehicles; parts and accessories (8701 to 8705)
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 0.13Rnk 55 / 132
2023
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GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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 GDP$30.8BCURRENT US$
Rnk 109 / 195
2013-2023
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GDP GROWTH75.7%CURRENT US$
Rnk 33 / 195
2023
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GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$8,284CURRENT US$
Rnk 94 / 196
2013-2023
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GDP PC GROWTH75.8%CURRENT US$
Rnk 19 / 195

About

South Korea-Georgia Trade: In 2023, South Korea exported $116M to Georgia. The main products that South Korea exported to Georgia were Cars ($52.4M), Large Construction Vehicles ($17.1M), and Coated Flat-Rolled Iron ($10.6M). Over the past 5 years the exports of South Korea to Georgia have increased at an annualized rate of 1.38%, from $108M in 2018 to $116M in 2023.

In 2023, South Korea did not export any services to Georgia.

Georgia-South Korea Trade: In 2023, Georgia exported $5M to South Korea. The main products that Georgia exported to South Korea were Motor vehicles; parts and accessories (8701 to 8705) ($1.06M), Scrap Copper ($1.04M), and Animal Meal and Pellets ($402k). Over the past 5 years the exports of Georgia to South Korea have decreased at an annualized rate of 41.6%,  from $73.6M in 2018 to $5M in 2023.

In 2023, Georgia did not export any services to South Korea.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Georgia ranked 55 in the Economic Complexity Index (ECI 0.13), and 123 in total exports ($6.39B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $9.69M and imported $1.31M from Georgia, resulting in a positive trade balance of $8.38M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-4.64M (-32.4%) from $14.3M to $9.69M, while imports increased by $1.06M (433%) from $245k to $1.31M.

Trade In December 2024, the top exports of South Korea to Georgia were Cars, tractors, trucks & parts thereof. ($4.63M), Machinery, mechanical appliances, & parts ($827k), Iron & steel ($707k), Plastics & articles thereof ($701k), and Optical, photo, & film equipment; medical... ($688k). In December 2024 the top imports of South Korea from Georgia were Non-knitted clothing accesories ($1.22M), Ores, slag and ash ($781k), Beverages, spirits, & vinegar ($36k), Knitted clothing accesories ($24k), and Machinery, mechanical appliances, & parts ($19k).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Georgia was explained primarily by an decrease in product exports in Plastics & articles thereof ($-1.9M or -73%), Cars, tractors, trucks & parts thereof. ($-1.26M or -21.4%), and Paper articles ($-427k or -69.1%). In December 2024, the increase in South Korea's year-by-year imports  from Georgia was explained primarily by an increase in product imports  in Non-knitted clothing accesories ($1.12M or 1.09k%), Beverages, spirits, & vinegar ($29k or 414%), and Inorganic chemicals ($13k or 650%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-4.64M(-32.4%)
IMPORT GROWTH (December 2023 - December 2024)$1.06M(433%)

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

For full datasets download visit Bulk Download page.

Explore Georgia and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $116M to Georgia. The main products exported from South Korea to Georgia were Cars ($52.4M), Large Construction Vehicles ($17.1M), and Coated Flat-Rolled Iron ($10.6M). During the last 5 years the exports of South Korea to Georgia have increased at an annualized rate of 1.38%, from $108M in 2018 to $116M in 2023.

In 2018, Georgia exported $5M to South Korea. The main products exported from Georgia to South Korea were Motor vehicles; parts and accessories (8701 to 8705) ($1.06M), Scrap Copper ($1.04M), and Animal Meal and Pellets ($402k). During the last 5 years the exports of Georgia to South Korea have decreased at an annualized rate of 41.6%, from $73.6M in 2023 to $5M in 2018.

Exports from South Korea (Flag) to Georgia (Flag) (2023)

Exports from Georgia (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Georgia
Top DestinationAzerbaijan$828M

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

In 2023, countries that imported more from South Korea than Georgia included China ($162B), United States ($118B), and Hong Kong ($28.8B).

In 2023, countries that imported more from Georgia than South Korea included Russia ($657M), Armenia ($712M), and Azerbaijan ($828M).

Difference in imports from Georgia (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - Georgia

Flow
Scale

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

During 2023, South Korea had a large net trade with Georgia in the exports of Transportation ($54.7M), Machines ($24.2M), and Chemical Products ($12.7M).

During 2018, Georgia had a large net trade with South Korea in the exports of Metals ($1.14M), Transportation ($1.06M), and Machines ($874k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Georgia+$29.8MCars
Top Product Potential Georgia South Korea+$1.66MKnit T-shirts

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 Georgia. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Georgia. Similarly, a dot/product with the flag of Georgia indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and Georgia (Flag) (2023)

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