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Pricing

2022
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Exports $10.4BRnk 14 / 220
2022
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Top Product $1.76BRefined Petroleum
2022
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Exports $15.6BRnk 6 / 216
2022
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Top Product $4.41BCoal Briquettes
2022
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Economic Complexity (ECI) ECI 1.71Rnk 4 / 124
2022
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Economic Complexity (ECI) ECI -0.078Rnk 67 / 124
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$1.32TCURRENT US$
Rnk 16 / 186
2012-2022
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GDP GROWTH43.7%CURRENT US$
Rnk 79 / 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$4,788CURRENT US$
Rnk 114 / 186
2012-2022
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GDP PC GROWTH30.5%CURRENT US$
Rnk 62 / 186

About

South Korea-Indonesia In 2022, South Korea exported $10.4B to Indonesia. The main products that South Korea exported to Indonesia are Refined Petroleum ($1.76B), Integrated Circuits ($540M), and Light Rubberized Knitted Fabric ($312M). During the last 27 years the exports of South Korea to Indonesia have increased at an annualized rate of 4.67%, from $3.03B in 1995 to $10.4B in 2022.

In 2005, South Korea exported services to Indonesia worth $473M, with Transportation ($314M), Other business services ($60.1M), and Services not allocated ($48.7M) being the largest in terms of value.

Indonesia-South Korea In 2022, Indonesia exported $15.6B to South Korea. The main products that Indonesia exported to South Korea were Coal Briquettes ($4.41B), Petroleum Gas ($2.44B), and Copper Ore ($1.49B). During the last 27 years the exports of Indonesia to South Korea have increased at an annualized rate of 6.03%, from $3.2B in 1995 to $15.6B in 2022.

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

Comparison In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B). That same year, Indonesia ranked 67 in the Economic Complexity Index (ECI -0.078), and 26 in total exports ($320B).

Latest Trends

February, 2024

About

Overview In February 2024, South Korea exported $669M and imported $1.05B from Indonesia, resulting in a negative trade balance of $380M. Between February 2023 and February 2024 the exports of South Korea have decreased by $-126M (-15.9%) from $795M to $669M, while imports decreased by $-200M (-16%) from $1.25B to $1.05B.

Trade In February 2024, the top exports of South Korea to Indonesia were Machinery, mechanical appliances, & parts ($127M), Electrical machinery and electronics ($89M), Iron & steel ($83.2M), Plastics & articles thereof ($60.8M), and Mineral fuels, mineral oils and products... ($46.4M). In February 2024 the top imports of South Korea from Indonesia were Mineral fuels, mineral oils and products... ($702M), Ores, slag and ash ($166M), Electrical machinery and electronics ($54.1M), Footwear ($46M), and Animal or vegetable fats, oils, &... ($46M).

Growth In February 2024, the decrease in South Korea's year-by-year exports to Indonesia was explained primarily by an decrease in product exports in Mineral fuels, mineral oils and products... ($-105M or -69.4%), Plastics & articles thereof ($-58.9M or -49.2%), and Knitted fabrics ($-17.6M or -49%). In February 2024, the decrease in South Korea's year-by-year imports  from Indonesia was explained primarily by an decrease in product imports  in Inorganic chemicals ($-24.8M or -40.4%), Iron & steel ($-24M or -99.6%), and Fertilizers ($-20.5M or -100%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (February 2023 - February 2024)$-126M(-15.9%)
IMPORT GROWTH (February 2023 - February 2024)$-200M(-16%)

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

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $10.4B to Indonesia. The main products exported from South Korea to Indonesia were Refined Petroleum ($1.76B), Integrated Circuits ($540M), and Light Rubberized Knitted Fabric ($312M). During the last 27 years the exports of South Korea to Indonesia have increased at an annualized rate of 4.67%, from $3.03B in 1995 to $10.4B in 2022.

In 2022, Indonesia exported $15.6B to South Korea. The main products exported from Indonesia to South Korea were Coal Briquettes ($4.41B), Petroleum Gas ($2.44B), and Copper Ore ($1.49B). During the last 27 years the exports of Indonesia to South Korea have increased at an annualized rate of 6.03%, from $3.2B in 1995 to $15.6B in 2022.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Indonesia
Top DestinationChina$67.7B

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

In 2021, countries that imported more from South Korea than Indonesia were China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2021, countries that imported more from Indonesia than South Korea were India ($25.3B), Malaysia ($15.6B), and Pakistan ($4.55B).

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

Comparative Advantage South Korea - Indonesia

Flow
Scale

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

During 2022, South Korea had a large net trade with Indonesia in the exports of Machines ($2.32B), Mineral Products ($1.81B), and Metals ($1.7B).

During 2022, Indonesia had a large net trade with South Korea in the exports of Mineral Products ($8.73B), Metals ($1.07B), and Animal and Vegetable Bi-Products ($879M).

Service Trade

Bilateral Service Trade

In 2005, South Korea exported services to Indonesia worth $473M, with Transportation ($314M), Other business services ($60.1M), and Services not allocated ($48.7M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Indonesia (Flag) (2005)

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more South Korea has comparative advantage over Indonesia. Similarly, the more yellow a dot/product is, the more Indonesia has comparative advantage over South Korea.

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

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