NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $234MRnk 73 / 142
2023
Flag → Flag
Top Product $37.3MCyanides
2023
Flag → Flag
Exports $32.3MRnk 39 / 172
2023
Flag → Flag
Top Product $13MGold
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.97Rnk 109 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$76.4BCURRENT US$
Rnk 82 / 195
2013-2023
Flag
GDP GROWTH21.6%CURRENT US$
Rnk 135 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$2,260CURRENT US$
Rnk 152 / 196
2013-2023
Flag
GDP PC GROWTH-1.47%CURRENT US$
Rnk 154 / 195

About

South Korea-Ghana Trade: In 2023, South Korea exported $234M to Ghana. The main products that South Korea exported to Ghana were Cyanides ($37.3M), Delivery Trucks ($33.9M), and Ethylene Polymers ($29.7M). Over the past 5 years the exports of South Korea to Ghana have decreased at an annualized rate of 5.59%, from $312M in 2018 to $234M in 2023.

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

Ghana-South Korea Trade: In 2023, Ghana exported $32.3M to South Korea. The main products that Ghana exported to South Korea were Gold ($13M), Cocoa Beans ($6.79M), and Silver ($4.72M). Over the past 5 years the exports of Ghana to South Korea have increased at an annualized rate of 0.088%,  from $32.1M in 2018 to $32.3M in 2023.

In 2023, Ghana 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, Ghana ranked 109 in the Economic Complexity Index (ECI -0.97), and 71 in total exports ($27.1B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $23.6M and imported $6.68M from Ghana, resulting in a positive trade balance of $17M. Between December 2023 and December 2024 the exports of South Korea have increased by $3.91M (19.8%) from $19.7M to $23.6M, while imports increased by $2.8M (72.3%) from $3.87M to $6.68M.

Trade In December 2024, the top exports of South Korea to Ghana were Plastics & articles thereof ($4.4M), Fish, Crustaceans & Molluscs ($3.57M), Cars, tractors, trucks & parts thereof. ($3.24M), Machinery, mechanical appliances, & parts ($1.04M), and Inorganic chemicals ($738k). In December 2024 the top imports of South Korea from Ghana were Copper articles ($554k), Aluminum articles ($148k), Precious stones, metals, & pearls ($125k), Cocoa & cocoa preparations ($7k), and Wood, wood articles, & charcoal ($5k).

Growth In December 2024, the increase in South Korea's year-by-year exports to Ghana was explained primarily by an increase in product exports in Plastics & articles thereof ($1.61M or 57.7%), Cars, tractors, trucks & parts thereof. ($798k or 32.7%), and Machinery, mechanical appliances, & parts ($261k or 33.4%). In December 2024, the increase in South Korea's year-by-year imports  from Ghana was explained primarily by an increase in product imports  in Aluminum articles ($3k or 2.07%) and Copper articles ($1k or 0.18%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$3.91M(19.8%)
IMPORT GROWTH (December 2023 - December 2024)$2.8M(72.3%)

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

For full datasets download visit Bulk Download page.

Explore Ghana and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $234M to Ghana. The main products exported from South Korea to Ghana were Cyanides ($37.3M), Delivery Trucks ($33.9M), and Ethylene Polymers ($29.7M). During the last 5 years the exports of South Korea to Ghana have decreased at an annualized rate of 5.59%, from $312M in 2018 to $234M in 2023.

In 2018, Ghana exported $32.3M to South Korea. The main products exported from Ghana to South Korea were Gold ($13M), Cocoa Beans ($6.79M), and Silver ($4.72M). During the last 5 years the exports of Ghana to South Korea have increased at an annualized rate of 0.088%, from $32.1M in 2023 to $32.3M in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Ghana
Top DestinationSwitzerland$6.49B

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

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

In 2023, countries that imported more from Ghana than South Korea included Switzerland ($6.49B), South Africa ($1.85B), and Burkina Faso ($574M).

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

Comparative Advantage South Korea - Ghana

Flow
Scale

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

During 2023, South Korea had a large net trade with Ghana in the exports of Transportation ($67.4M), Plastics and Rubbers ($61.2M), and Chemical Products ($50.4M).

During 2018, Ghana had a large net trade with South Korea in the exports of Precious Metals ($17.8M), Foodstuffs ($8.14M), and Metals ($4.04M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Ghana+$12.4MCars
Top Product Potential Ghana South Korea+$5.05MScrap Copper

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

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

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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms