2023
Flag  
GDP
$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH
25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP
$514BCURRENT US$
Rnk 28 / 195
2013-2023
Flag
GDP GROWTH
72.6%CURRENT US$
Rnk 38 / 195
2023
Flag
GDP PC 
$33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH
21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC
$52,642CURRENT US$
Rnk 24 / 196
2013-2023
Flag
GDP PC GROWTH
42.5%CURRENT US$
Rnk 56 / 195

About

South Korea-Israel Trade: In 2023, South Korea exported $2.06B to Israel. The main products that South Korea exported to Israel were Cars ($1.09B), Integrated Circuits ($170M), and Large Construction Vehicles ($61.7M). Over the past 5 years the exports of South Korea to Israel have increased at an annualized rate of 5.75%, from $1.56B in 2018 to $2.06B in 2023.

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

Israel-South Korea Trade: In 2023, Israel exported $1.05B to South Korea. The main products that Israel exported to South Korea were Other Measuring Instruments ($308M), Chemical Analysis Instruments ($57.1M), and Oscilloscopes ($49.9M). Over the past 5 years the exports of Israel to South Korea have decreased at an annualized rate of 3.98%,  from $1.29B in 2018 to $1.05B in 2023.

In 2012, Israel exported services to South Korea worth $6.9M, with Computer and information services ($6.9M) being the largest in terms of value.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Israel ranked 19 in the Economic Complexity Index (ECI 1.28), and 49 in total exports ($69.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $2.06B to Israel. The main products exported from South Korea to Israel were Cars ($1.09B), Integrated Circuits ($170M), and Large Construction Vehicles ($61.7M). During the last 5 years the exports of South Korea to Israel have increased at an annualized rate of 5.75%, from $1.56B in 2018 to $2.06B in 2023.

In 2018, Israel exported $1.05B to South Korea. The main products exported from Israel to South Korea were Other Measuring Instruments ($308M), Chemical Analysis Instruments ($57.1M), and Oscilloscopes ($49.9M). During the last 5 years the exports of Israel to South Korea have decreased at an annualized rate of 3.98%, from $1.29B in 2023 to $1.05B in 2018.

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

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

Market Competitiveness

Color
South Korea
Top Destination
China$162B
Israel
Top Destination
United States$20.3B

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

In 2023, countries that imported more from South Korea than Israel included China ($162B), United States ($118B), and Japan ($28.4B).

In 2023, countries that imported more from Israel than South Korea included Ireland ($4.22B), Egypt ($2.23B), and Cyprus ($671M).

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

Comparative Advantage South Korea - Israel

Flow
Scale

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

During 2023, South Korea had a large net trade with Israel in the exports of Transportation ($1.16B), Machines ($533M), and Plastics and Rubbers ($111M).

During 2018, Israel had a large net trade with South Korea in the exports of Instruments ($519M), Machines ($283M), and Chemical Products ($107M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Israel+$34.2MIntegrated Circuits
Top Product Potential Israel South Korea+$66.9MIntegrated Circuits

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

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

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