2022
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GDP
$1.67TCURRENT US$
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2012-2022
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GDP GROWTH
30.3%CURRENT US$
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2022
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 GDP
$4.23TCURRENT US$
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2012-2022
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GDP GROWTH
-32.5%CURRENT US$
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2022
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GDP PC 
$32,255CURRENT US$
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2012-2022
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GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC
$33,815CURRENT US$
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2012-2022
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GDP PC GROWTH
-31.2%CURRENT US$
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About

South Korea-Japan Trade: In 2022, South Korea exported $27B to Japan. The main products that South Korea exported to Japan were Refined Petroleum ($4.83B), Integrated Circuits ($976M), and Hot-Rolled Iron ($889M). Over the past 5 years the exports of South Korea to Japan have increased at an annualized rate of 9.37%, from $17.3B in 2017 to $27B in 2022.

In 2005, South Korea exported services to Japan worth $6.48B, with Transportation ($2.43B), Travel ($2.16B), and Other business services ($1.64B) being the largest in terms of value.

Japan-South Korea Trade: In 2022, Japan exported $52.2B to South Korea. The main products that Japan exported to South Korea were Machinery Having Individual Functions ($5.44B), Integrated Circuits ($4.14B), and Refined Petroleum ($2.3B). Over the past 5 years the exports of Japan to South Korea have increased at an annualized rate of 11%,  from $30.9B in 2017 to $52.2B in 2022.

In 2009, Japan exported services to South Korea worth $8.05B, with Services not allocated ($3.91B), Transportation ($2.32B), and Travel ($1.64B) being the largest in terms of value.

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Japan ranked 1 in the Economic Complexity Index (ECI 2.07), and 4 in total exports ($728B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $27B to Japan. The main products exported from South Korea to Japan were Refined Petroleum ($4.83B), Integrated Circuits ($976M), and Hot-Rolled Iron ($889M). During the last 5 years the exports of South Korea to Japan have increased at an annualized rate of 9.37%, from $17.3B in 2017 to $27B in 2022.

In 2017, Japan exported $52.2B to South Korea. The main products exported from Japan to South Korea were Machinery Having Individual Functions ($5.44B), Integrated Circuits ($4.14B), and Refined Petroleum ($2.3B). During the last 22 years the exports of Japan to South Korea have increased at an annualized rate of 11%, from $30.9B in 1995 to $52.2B in 2017.

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

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

Market Competitiveness

Color
South Korea
Top Destination
China$150B
Japan
Top Destination
United States$137B

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

In 2022, countries that imported more from South Korea than Japan included Vietnam ($60.7B), China ($150B), and India ($20.6B).

In 2022, countries that imported more from Japan than South Korea included United States ($137B), Thailand ($30.8B), and Chinese Taipei ($50.1B).

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

Comparative Advantage South Korea - Japan

Flow
Scale

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

During 2022, South Korea had a large net trade with Japan in the exports of Machines ($7.15B), Mineral Products ($5.38B), and Metals ($5.01B).

During 2017, Japan had a large net trade with South Korea in the exports of Machines ($19B), Metals ($8.75B), and Chemical Products ($7.56B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Japan+$607MIntegrated Circuits
Top Product Potential Japan South Korea+$531MIntegrated 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 Japan. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Japan. Similarly, a dot/product with the flag of Japan indicates it has a comparative advantage over South Korea.

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

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