Flag South Korea / India Flag

2021
FlagFlag
Exports
: $16B, Rnk 7 / 218

2021
FlagFlag
Top Product
: $1.22B, Integrated Circuits

2021
FlagFlag
Exports
: $7.43B, Rnk 16 / 214

2021
FlagFlag
Top Product
: $1.87B, Refined Petroleum

2021
Flag
Economic Complexity (ECI)
: ECI 1.82, Rnk 4 / 131

2021
Flag
Economic Complexity (ECI)
: ECI 0.61, Rnk 41 / 131

2021
Flag  
GDP
: $1.8T, CURRENT US$
Rnk 10 / 182

2011-2021
Flag
GDP GROWTH
: 43.5%, CURRENT US$
Rnk 64 / 182

2021
Flag
 GDP
: $3.17T, CURRENT US$
Rnk 6 / 182

2011-2021
Flag
GDP GROWTH
: 74.1%, CURRENT US$
Rnk 26 / 182

2021
Flag
GDP PC 
: $34,758, CURRENT US$
Rnk 28 / 182

2011-2021
Flag
GDP PC GROWTH
: 38.5%, CURRENT US$
Rnk 43 / 182

2021
Flag
GDP PC
: $2,277, CURRENT US$
Rnk 137 / 182

2011-2021
Flag
GDP PC GROWTH
: 56.2%, CURRENT US$
Rnk 20 / 182

South Korea-India In 2021, South Korea exported $16B to India. The main products that South Korea exported to India are Integrated Circuits ($1.22B), Refined Petroleum ($1.17B), and Motor vehicles; parts and accessories (8701 to 8705) ($850M). During the last 26 years the exports of South Korea to India have increased at an annualized rate of 10.4%, from $1.22B in 1995 to $16B in 2021.

In 2005, South Korea exported services to India worth $475M, with Transportation ($299M), Services not allocated ($82.3M), and Travel ($56.3M) being the largest in terms of value.

India-South Korea In 2021, India exported $7.43B to South Korea. The main products that India exported to South Korea were Refined Petroleum ($1.87B), Raw Aluminium ($1.48B), and Raw Lead ($245M). During the last 26 years the exports of India to South Korea have increased at an annualized rate of 8.85%, from $819M in 1995 to $7.43B in 2021.

In 2021, India did not export any services to South Korea.

Comparison In 2021,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.82), and 5 in total exports ($653B). That same year, India ranked 41 in the Economic Complexity Index (ECI 0.61), and 14 in total exports ($403B).

Historical Data

#permalink to section

Bilateral Trade by Products

#permalink to section
Depth
Value

In 2021, South Korea exported $16B to India. The main products exported from South Korea to India were Integrated Circuits ($1.22B), Refined Petroleum ($1.17B), and Motor vehicles; parts and accessories (8701 to 8705) ($850M). During the last 26 years the exports of South Korea to India have increased at an annualized rate of 10.4%, from $1.22B in 1995 to $16B in 2021.

In 2021, India exported $7.43B to South Korea. The main products exported from India to South Korea were Refined Petroleum ($1.87B), Raw Aluminium ($1.48B), and Raw Lead ($245M). During the last 26 years the exports of India to South Korea have increased at an annualized rate of 8.85%, from $819M in 1995 to $7.43B in 2021.

Market Competitiveness

#permalink to section
Color

South Korea
Top Destination
: China, $158B

India
Top Destination
: United States, $71.2B

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

In 2021, countries that imported more from South Korea than India were China ($158B), Vietnam ($56.5B), and Hong Kong ($38.2B).

In 2021, countries that imported more from India than South Korea were United Arab Emirates ($25.4B), Bangladesh ($14.1B), and Nepal ($9.4B).

Comparative Advantage South Korea - India

#permalink to section
Flow
Scale

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

During 2021, South Korea had a large net trade with India in the exports of Machines ($4.47B), Metals ($3.75B), and Plastics and Rubbers ($2.42B).

During 2021, India had a large net trade with South Korea in the exports of Metals ($2.48B), Mineral Products ($2.13B), and Chemical Products ($893M).

Bilateral Service Trade

#permalink to section

In 2005, South Korea exported services to India worth $475M, with Transportation ($299M), Services not allocated ($82.3M), and Travel ($56.3M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

#permalink to section

Competitive Landscape

#permalink to section

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 India. Similarly, the more yellow a dot/product is, the more India has comparative advantage over South Korea.