2021
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GDP
$1.81TCURRENT US$
Rnk 11 / 204
2011-2021
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GDP GROWTH
44.5%CURRENT US$
Rnk 72 / 204
2021
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 GDP
$137BCURRENT US$
Rnk 59 / 204
2011-2021
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GDP GROWTH
-11.2%CURRENT US$
Rnk 188 / 204
2021
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GDP PC 
$34,998CURRENT US$
Rnk 38 / 204
2011-2021
Flag
GDP PC GROWTH
39.5%CURRENT US$
Rnk 51 / 204
2021
Flag
GDP PC
$32,187CURRENT US$
Rnk 42 / 204
2011-2021
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GDP PC GROWTH
-34.3%CURRENT US$
Rnk 196 / 204

About

South Korea-Kuwait In 2021, South Korea exported $377M to Kuwait. The main products that South Korea exported to Kuwait are Cars ($86M), Insulated Wire ($23.6M), and Coated Flat-Rolled Iron ($23.3M). During the last 26 years the exports of South Korea to Kuwait have increased at an annualized rate of 3.81%, from $143M in 1995 to $377M in 2021.

In 2005, South Korea exported services to Kuwait worth $1.03B, with Services not allocated ($995M), Transportation ($29.8M), and Other business services ($6.7M) being the largest in terms of value.

Kuwait-South Korea In 2021, Kuwait exported $7.23B to South Korea. The main products that Kuwait exported to South Korea were Crude Petroleum ($6.31B), Refined Petroleum ($876M), and Reaction and Catalytic Products ($23.1M). During the last 26 years the exports of Kuwait to South Korea have increased at an annualized rate of 8.2%, from $932M in 1995 to $7.23B in 2021.

In 2021, Kuwait did not export any services to South Korea.

Comparison In 2021,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.82), and 5 in total exports ($653B). That same year, Kuwait ranked 48 in the Economic Complexity Index (ECI 0.34), and 51 in total exports ($58.2B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2021, South Korea exported $377M to Kuwait. The main products exported from South Korea to Kuwait were Cars ($86M), Insulated Wire ($23.6M), and Coated Flat-Rolled Iron ($23.3M). During the last 26 years the exports of South Korea to Kuwait have increased at an annualized rate of 3.81%, from $143M in 1995 to $377M in 2021.

In 2021, Kuwait exported $7.23B to South Korea. The main products exported from Kuwait to South Korea were Crude Petroleum ($6.31B), Refined Petroleum ($876M), and Reaction and Catalytic Products ($23.1M). During the last 26 years the exports of Kuwait to South Korea have increased at an annualized rate of 8.2%, from $932M in 1995 to $7.23B in 2021.

Exports from South Korea (Flag) to Kuwait (Flag) (2021)

Exports from Kuwait (Flag) to South Korea (Flag) (2021)

Market Competitiveness

Color
South Korea
Top Destination
China$158B
Kuwait
Top Destination
China$16B

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

In 2021, countries that imported more from South Korea than Kuwait were China ($158B), United States ($95.9B), and Vietnam ($56.5B).

In 2021, countries that imported more from Kuwait than South Korea were Ethiopia ($460M) and Pakistan ($1.65B).

Difference in imports from Kuwait (Flag) and South Korea (Flag) (2021)

Comparative Advantage South Korea - Kuwait

Flow
Scale

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

During 2021, South Korea had a large net trade with Kuwait in the exports of Machines ($105M), Transportation ($95.9M), and Metals ($49.5M).

During 2021, Kuwait had a large net trade with South Korea in the exports of Mineral Products ($7.19B), Chemical Products ($30.2M), and Metals ($13M).

Service Trade

Bilateral Service Trade

In 2005, South Korea exported services to Kuwait worth $1.03B, with Services not allocated ($995M), Transportation ($29.8M), and Other business services ($6.7M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Kuwait (Flag) (2005)

Economic Complexity

Competitive Landscape

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

Product Space of South Korea (Flag) and Kuwait (Flag) (2021)

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