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Pricing

2022
Flag → Flag
Exports $1.31BRnk 29 / 220
2022
Flag → Flag
Top Product $4.16BPassenger and Cargo Ships
2022
Flag → Flag
Exports $7.98MRnk 24 / 86
2022
Flag → Flag
Top Product $9MPassenger and Cargo Ships
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI -1.72Rnk 128 / 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
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 GDP$4BCURRENT US$
Rnk 155 / 186
2012-2022
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GDP GROWTH43.3%CURRENT US$
Rnk 80 / 186
2022
Flag
GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$755CURRENT US$
Rnk 176 / 186
2012-2022
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GDP PC GROWTH17.1%CURRENT US$
Rnk 96 / 186

About

South Korea-Liberia Trade: In 2022, South Korea exported $1.31B to Liberia. The main products that South Korea exported to Liberia were Passenger and Cargo Ships ($4.16B), Cars ($4.96M), and Propylene Polymers ($1.8M). Over the past 5 years the exports of South Korea to Liberia have increased at an annualized rate of 5.5%, from $998M in 2017 to $1.31B in 2022.

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

Liberia-South Korea Trade: In 2022, Liberia exported $7.98M to South Korea. The main products that Liberia exported to South Korea were Passenger and Cargo Ships ($9M), Scrap Copper ($2.37M), and Refined Petroleum ($490k). Over the past 5 years the exports of Liberia to South Korea have increased at an annualized rate of 105%,  from $220k in 2017 to $7.98M in 2022.

In 2022, Liberia 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, Liberia ranked 128 in the Economic Complexity Index (ECI -1.72), and 144 in total exports ($1.96B).

Latest Trends

May, 2024

About

Overview In May 2024, South Korea exported $349M and imported $164k from Liberia, resulting in a positive trade balance of $348M. Between May 2023 and May 2024 the exports of South Korea have decreased by $-24.8M (-6.65%) from $373M to $349M, while imports decreased by $-592k (-78.3%) from $756k to $164k.

Trade In May 2024, the top exports of South Korea to Liberia were Ships, boats, & floating structures ($265M), Machinery, mechanical appliances, & parts ($2.24M), Plastics & articles thereof ($124k), Cars, tractors, trucks & parts thereof. ($118k), and Organic chemicals ($51k). In May 2024 the top imports of South Korea from Liberia were Copper articles ($160k), Aluminum articles ($92k), Machinery, mechanical appliances, & parts ($9k), Ships, boats, & floating structures ($9k), and Products of the milling industry ($0).

Growth In May 2024, the decrease in South Korea's year-by-year exports to Liberia was explained primarily by an decrease in product exports in Pharmaceutical products ($-210k or -98.1%), Plastics & articles thereof ($-106k or -46.1%), and Iron or steel articles ($-41k or -100%). In May 2024, the decrease in South Korea's year-by-year imports  from Liberia was explained primarily by an decrease in product imports  in Copper articles ($-198k or -55.3%) and Machinery, mechanical appliances, & parts ($-1k or -10%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (May 2023 - May 2024)$-24.8M(-6.65%)
IMPORT GROWTH (May 2023 - May 2024)$-592k(-78.3%)

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.

For full datasets download visit Bulk Download page.

Explore Liberia and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $1.31B to Liberia. The main products exported from South Korea to Liberia were Passenger and Cargo Ships ($4.16B), Cars ($4.96M), and Propylene Polymers ($1.8M). During the last 5 years the exports of South Korea to Liberia have increased at an annualized rate of 5.5%, from $998M in 2017 to $1.31B in 2022.

In 2017, Liberia exported $7.98M to South Korea. The main products exported from Liberia to South Korea were Passenger and Cargo Ships ($9M), Scrap Copper ($2.37M), and Refined Petroleum ($490k). During the last 22 years the exports of Liberia to South Korea have increased at an annualized rate of 105%, from $220k in 1995 to $7.98M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Liberia
Top DestinationSwitzerland$544M

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

In 2022, no countries were registered that imported more from Liberia than from South Korea.

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

Comparative Advantage South Korea - Liberia

Flow
Scale

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

During 2022, South Korea had a large net trade with Liberia in the exports of Transportation ($4.17B), Plastics and Rubbers ($4.06M), and Chemical Products ($883k).

During 2017, Liberia had a large net trade with South Korea in the exports of Transportation ($9.14M), Metals ($2.61M), and Mineral Products ($490k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Liberia+$2.08MCars
Top Product Potential Liberia South Korea+$3.99MPassenger and Cargo Ships

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

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

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