South Korea (KOR) and Liberia (LBR) Trade | OEC - The Observatory of Economic Complexity

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South Korea-Liberia In 2021, South Korea exported $1.99B to Liberia. The main products that South Korea exported to Liberia are Passenger and Cargo Ships ($1.98B), Cars ($4.86M), and Propylene Polymers ($2.02M). During the last 26 years the exports of South Korea to Liberia have increased at an annualized rate of 2.69%, from $998M in 1995 to $1.99B in 2021.

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

Liberia-South Korea In 2021, Liberia exported $7.61M to South Korea. The main products that Liberia exported to South Korea were Passenger and Cargo Ships ($5.19M), Scrap Copper ($1.73M), and Refined Petroleum ($292k). During the last 26 years the exports of Liberia to South Korea have increased at an annualized rate of 14.6%, from $218k in 1995 to $7.61M in 2021.

In 2021, Liberia 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, Liberia ranked 152 in total exports ($1.58B), and does not have data regarding Economic Complexity Index.

Latest Trends

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April, 2023

About

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Overview In April 2023, South Korea exported $314M and imported $616k from Liberia, resulting in a positive trade balance of $313M. Between April 2022 and April 2023 the exports of South Korea have increased by $270k (0.086%) from $314M to $314M, while imports increased by $28k (4.76%) from $588k to $616k.

Trade In April 2023, the top exports of South Korea to Liberia were Plastics & articles thereof ($230k), Pharmaceutical products ($214k), Iron or steel articles ($41k), Machinery, mechanical appliances, & parts ($41k), and Cars, tractors, trucks & parts thereof. ($36k). In April 2023 the top imports of South Korea from Liberia were Copper articles ($358k), Aluminum articles ($32k), Machinery, mechanical appliances, & parts ($10k), Ships, boats, & floating structures ($9k), and Non-knitted clothing accesories ($2k).

Growth In April 2023, the increase in South Korea's year-by-year exports to Liberia was explained primarily by an increase in product exports in Plastics & articles thereof ($43k or 23%) and Used clothes & textile articles ($1k or 100%). In April 2023, the increase in South Korea's year-by-year imports from Liberia was explained primarily by an increase in product imports in Copper articles ($228k or 175%), Machinery, mechanical appliances, & parts ($8k or 400%), and Non-knitted clothing accesories ($1k or 100%).

Latest Trade

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Flow

Time Scale

Depth

Value

EXPORT GROWTH (April 2022 - April 2023): $270k, (0.086%)

IMPORT GROWTH (April 2022 - April 2023): $28k, (4.76%)

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

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Historical Data

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Bilateral Trade by Products

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Depth

Value

Year

In 2021, South Korea exported $1.99B to Liberia. The main products exported from South Korea to Liberia were Passenger and Cargo Ships ($1.98B), Cars ($4.86M), and Propylene Polymers ($2.02M). During the last 26 years the exports of South Korea to Liberia have increased at an annualized rate of 2.69%, from $998M in 1995 to $1.99B in 2021.

In 2021, Liberia exported $7.61M to South Korea. The main products exported from Liberia to South Korea were Passenger and Cargo Ships ($5.19M), Scrap Copper ($1.73M), and Refined Petroleum ($292k). During the last 26 years the exports of Liberia to South Korea have increased at an annualized rate of 14.6%, from $218k in 1995 to $7.61M in 2021.

Market Competitiveness

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Color

SectionYear

South Korea
Top Destination: China, $158B

Liberia
Top Destination: Switzerland, $343M

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

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

In 2019, no countries were registered that imported more from Liberia than from South Korea.

Comparative Advantage South Korea - Liberia

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Flow

Scale

Year

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

During 2021, South Korea had a large net trade with Liberia in the exports of Transportation ($1.98B), Plastics and Rubbers ($5.22M), and Chemical Products ($1.34M).

During 2021, Liberia had a large net trade with South Korea in the exports of Transportation ($5.39M), Metals ($1.82M), and Mineral Products ($292k).

Economic Complexity

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Competitive Landscape

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Year

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 Liberia. Similarly, the more yellow a dot/product is, the more Liberia has comparative advantage over South Korea.

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Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage South Korea - Liberia

Economic Complexity

Competitive Landscape

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