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Pricing

2022
Flag → Flag
Exports $49.8MRnk 131 / 220
2022
Flag → Flag
Top Product $19.6MCars
2022
Flag → Flag
Exports $2.35MRnk 48 / 157
2022
Flag → Flag
Top Product $798kElectrical Parts
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.17Rnk 72 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP$17.1BCURRENT US$
Rnk 125 / 186
2012-2022
Flag
GDP GROWTH15.5%CURRENT US$
Rnk 135 / 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$6,047CURRENT US$
Rnk 103 / 186
2012-2022
Flag
GDP PC GROWTH12.7%CURRENT US$
Rnk 105 / 186

About

South Korea-Jamaica Trade: In 2022, South Korea exported $49.8M to Jamaica. The main products that South Korea exported to Jamaica were Cars ($19.6M), Electric Batteries ($4.62M), and Coated Flat-Rolled Iron ($4.22M). Over the past 5 years the exports of South Korea to Jamaica have increased at an annualized rate of 7.59%, from $34.5M in 2017 to $49.8M in 2022.

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

Jamaica-South Korea Trade: In 2022, Jamaica exported $2.35M to South Korea. The main products that Jamaica exported to South Korea were Electrical Parts ($798k), Industrial Fatty Acids, Oils and Alcohols ($504k), and Scrap Copper ($482k). Over the past 5 years the exports of Jamaica to South Korea have decreased at an annualized rate of 12.9%,  from $4.69M in 2017 to $2.35M in 2022.

In 2022, Jamaica 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, Jamaica ranked 72 in the Economic Complexity Index (ECI -0.17), and 145 in total exports ($1.95B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $2.32M and imported $1k from Jamaica, resulting in a positive trade balance of $2.32M. Between October 2023 and October 2024 the exports of South Korea have decreased by $-1.19M (-33.9%) from $3.51M to $2.32M, while imports decreased by $-65k (-98.5%) from $66k to $1k.

Trade In October 2024, the top exports of South Korea to Jamaica were Cars, tractors, trucks & parts thereof. ($2.18M), Electrical machinery and electronics ($408k), Chemical products n.e.s. ($319k), Machinery, mechanical appliances, & parts ($158k), and Plastics & articles thereof ($151k). In October 2024 the top imports of South Korea from Jamaica were Copper articles ($754k), Electrical machinery and electronics ($93k), Coffee, tea, mate & spices ($15k), Preparations of cereals, flour, starch or... ($0), and Beverages, spirits, & vinegar ($0).

Growth In October 2024, the decrease in South Korea's year-by-year exports to Jamaica was explained primarily by an decrease in product exports in Machinery, mechanical appliances, & parts ($-468k or -74.8%), Chemical products n.e.s. ($-153k or -32.4%), and Paper articles ($-28k or -66.7%). In October 2024, the decrease in South Korea's year-by-year imports  from Jamaica was explained primarily by an decrease in product imports  in Electrical machinery and electronics ($-270k or -74.4%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$-1.19M(-33.9%)
IMPORT GROWTH (October 2023 - October 2024)$-65k(-98.5%)

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

For full datasets download visit Bulk Download page.

Explore Jamaica and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $49.8M to Jamaica. The main products exported from South Korea to Jamaica were Cars ($19.6M), Electric Batteries ($4.62M), and Coated Flat-Rolled Iron ($4.22M). During the last 5 years the exports of South Korea to Jamaica have increased at an annualized rate of 7.59%, from $34.5M in 2017 to $49.8M in 2022.

In 2017, Jamaica exported $2.35M to South Korea. The main products exported from Jamaica to South Korea were Electrical Parts ($798k), Industrial Fatty Acids, Oils and Alcohols ($504k), and Scrap Copper ($482k). During the last 5 years the exports of Jamaica to South Korea have decreased at an annualized rate of 12.9%, from $4.69M in 2022 to $2.35M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Jamaica
Top DestinationUnited States$1.11B

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

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

In 2022, countries that imported more from Jamaica than South Korea included Barbados ($32.2M), Antigua and Barbuda ($26.1M), and Cayman Islands ($26.5M).

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

Comparative Advantage South Korea - Jamaica

Flow
Scale

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

During 2022, South Korea had a large net trade with Jamaica in the exports of Transportation ($23.3M), Machines ($9.39M), and Metals ($6.32M).

During 2017, Jamaica had a large net trade with South Korea in the exports of Machines ($805k), Chemical Products ($594k), and Metals ($576k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Jamaica+$9.87MCars
Top Product Potential Jamaica South Korea+$693kScrap Copper

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

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

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