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Pricing

2022
Flag → Flag
Exports $195MRnk 96 / 220
2022
Flag → Flag
Top Product $18.5MOrthopedic Appliances
2022
Flag → Flag
Exports $10.5MRnk 53 / 127
2022
Flag → Flag
Top Product $4.04MRaw Lead
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.072Rnk 60 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP$389BCURRENT US$
Rnk 40 / 186
2012-2022
Flag
GDP GROWTH-39.7%CURRENT US$
Rnk 183 / 186
2022
Flag
GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC$4,388CURRENT US$
Rnk 116 / 186
2012-2022
Flag
GDP PC GROWTH-47.3%CURRENT US$
Rnk 183 / 186

About

South Korea-Iran Trade: In 2022, South Korea exported $195M to Iran. The main products that South Korea exported to Iran were Orthopedic Appliances ($18.5M), Motor vehicles; parts and accessories (8701 to 8705) ($10.1M), and Liquid Pumps ($9.23M). Over the past 5 years the exports of South Korea to Iran have decreased at an annualized rate of 46%, from $4.25B in 2017 to $195M in 2022.

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 Trade: In 2022, Iran exported $10.5M to South Korea. The main products that Iran exported to South Korea were Raw Lead ($4.04M), Compasses ($2.06M), and Navigation Equipment ($633k). Over the past 5 years the exports of Iran to South Korea have decreased at an annualized rate of 73%,  from $7.36B in 2017 to $10.5M in 2022.

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

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Iran ranked 60 in the Economic Complexity Index (ECI 0.072), and 86 in total exports ($15.9B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $13.9M and imported $961k from Iran, resulting in a positive trade balance of $12.9M. Between October 2023 and October 2024 the exports of South Korea have decreased by $-2.64M (-16%) from $16.5M to $13.9M, while imports increased by $662k (221%) from $299k to $961k.

Trade In October 2024, the top exports of South Korea to Iran were Electrical machinery and electronics ($3.84M), Machinery, mechanical appliances, & parts ($2M), Optical, photo, & film equipment; medical... ($1.54M), Paper articles ($1.21M), and Chemical products n.e.s. ($953k). In October 2024 the top imports of South Korea from Iran were Edible fruits, nuts & fruit peels ($124k), Plastics & articles thereof ($19k), Carpets & textile floor covers ($8k), Preparations of fish, crustacenas, & molluscs ($6k), and Toys, games, & sports ($4k).

Growth In October 2024, the decrease in South Korea's year-by-year exports to Iran was explained primarily by an decrease in product exports in Iron & steel ($-2.32M or -97%), Machinery, mechanical appliances, & parts ($-1.83M or -47.8%), and Pharmaceutical products ($-1.56M or -68%). In October 2024, the increase in South Korea's year-by-year imports  from Iran was explained primarily by an increase in product imports  in Edible fruits, nuts & fruit peels ($75k or 153%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$-2.64M(-16%)
IMPORT GROWTH (October 2023 - October 2024)$662k(221%)

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

For full datasets download visit Bulk Download page.

Explore Iran and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $195M to Iran. The main products exported from South Korea to Iran were Orthopedic Appliances ($18.5M), Motor vehicles; parts and accessories (8701 to 8705) ($10.1M), and Liquid Pumps ($9.23M). During the last 5 years the exports of South Korea to Iran have decreased at an annualized rate of 46%, from $4.25B in 2017 to $195M in 2022.

In 2017, Iran exported $10.5M to South Korea. The main products exported from Iran to South Korea were Raw Lead ($4.04M), Compasses ($2.06M), and Navigation Equipment ($633k). During the last 5 years the exports of Iran to South Korea have decreased at an annualized rate of 73%, from $7.36B in 2022 to $10.5M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Iran
Top DestinationChina$5.72B

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 2022, countries that imported more from South Korea than Iran included China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2022, countries that imported more from Iran than South Korea included Armenia ($557M), Kuwait ($960M), and Azerbaijan ($454M).

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

Comparative Advantage South Korea - Iran

Flow
Scale

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

During 2022, South Korea had a large net trade with Iran in the exports of Machines ($83.9M), Instruments ($33.2M), and Metals ($24M).

During 2017, Iran had a large net trade with South Korea in the exports of Metals ($4.21M), Instruments ($2.06M), and Mineral Products ($896k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Iran+$20.6MMotor vehicles; parts and accessories (8701 to 8705)
Top Product Potential Iran South Korea+$967kNitrogenous Fertilizers

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

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

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