Flag South Korea / Iran Flag

Exports FlagFlag  (2018): $2.29B, Rnk 33 / 210

Top Product FlagFlag (2018): $429M, Vehicle Parts

Exports FlagFlag (2018): $3.64B, Rnk 4 / 116

Top Product FlagFlag (2018): $3.49B, Crude Petroleum

Economic Complexity of Flag (2018): ECI 1.85, Rnk 5 / 137

Economic Complexity of Flag (2018): ECI -0.046, Rnk 67 / 137

GDP Flag (2018): $1.62T, CURRENT US$
Rnk 12 / 196

GDP GROWTH Flag (2008-2018): 61.6%, CURRENT US$
Rnk 69 / 196

GDP PC Flag (2018): $31,363, CURRENT US$
Rnk 34 / 196

GDP PC GROWTH Flag (2008-2018): 53.5%, CURRENT US$
Rnk 42 / 196

South Korea-Iran: In 2018, South Korea exported $2.29B to Iran. The main products exported from South Korea to Iran were Vehicle Parts ($429M), Polyacetals ($107M), and Cars ($80.5M). During the last 23 years the exports of South Korea to Iran have increased at an annualized rate of 8.49%, from $352M in 1995 to $2.29B in 2018. In 2005, South Korea exported services to Iran worth $404M, with Services not allocated ($263M), Transportation ($121M), and Other business services ($10.7M) being the largest in terms of value.

Iran-South Korea: In 2018, Iran exported $3.64B to South Korea. The main products exported from Iran to South Korea were Crude Petroleum ($3.49B), Scrap Copper ($28.9M), and Nitrogenous Fertilizers ($23.5M). During the last 23 years the exports of Iran to South Korea have increased at an annualized rate of 5.32%, from $1.11B in 1995 to $3.64B in 2018.

Comparison: In 2018, South Korea ranked 5 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($617B). That same year, Iran ranked 67 in the Economic Complexity Index (ECI -0.046), and 48 in total exports ($62.6B). In terms of GDP Per Capita, South Korea was ranked 34 with a GDP Per Capita of $31,363, while Iran has no data regarding GDP Per Capita in 2018.

Bilateral Trade by Products

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Depth
Value

In 2018, South Korea exported $2.29B to Iran. The main products exported from South Korea to Iran were Vehicle Parts ($429M), Polyacetals ($107M), and Cars ($80.5M). During the last 23 years the exports of South Korea to Iran have increased at an annualized rate of 8.49%, from $352M in 1995 to $2.29B in 2018.

In 2018, Iran exported $3.64B to South Korea. The main products exported from Iran to South Korea were Crude Petroleum ($3.49B), Scrap Copper ($28.9M), and Nitrogenous Fertilizers ($23.5M). During the last 23 years the exports of Iran to South Korea have increased at an annualized rate of 5.32%, from $1.11B in 1995 to $3.64B in 2018.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $160B

Iran
Top Destination
: China, $18.9B

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

In 2018, countries that imported more from South Korea than Iran were China ($160B), United States ($73.1B), and Vietnam ($48.6B).

In 2018, countries that imported more from Iran than South Korea were Afghanistan ($908M), Azerbaijan ($395M), and Greece ($1.34B).

Comparative Advantage South Korea - Iran

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Depth

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

During 2018, South Korea had a large net trade with Iran in the exports of Machines ($571M), Transportation ($528M), and Plastics and Rubbers ($399M).

During 2018, Iran had a large net trade with South Korea in the exports of Mineral Products ($3.51B), Metals ($85.9M), and Chemical Products ($23.9M).

Tariff Section

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This sections shows import tariffs for products traded between South Korea and Iran (using the HS6 product classification and the last year reported).

In 2018, the products from South Korea that paid the highest import tariffs to enter Iran were Cereals: fonio (Digitaria spp.) (800%) and Cereals: quinoa (Chenopodium quinoa) (800%).

In 2011, the products from Iran that paid the highest import tariffs to enter South Korea were Wine lees, argol (400%) and Poppy seeds (200%).

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*The tariffs present between South Korea and Iran are:
136: Most Favoured Nation duty rate treatement
335: Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries

Trade Forecasts

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This section shows a forecast for total trade between South Korea and Iran. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

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Bilateral Service Trade

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In 2005, South Korea exported services to Iran worth $404M, with Services not allocated ($263M), Transportation ($121M), and Other business services ($10.7M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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