South Korea (KOR) and Libya (LBY) Trade | OEC - The Observatory of Economic Complexity

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South Korea-Libya In 2021, South Korea exported $429M to Libya. The main products that South Korea exported to Libya are Cars ($217M), Motor vehicles; parts and accessories (8701 to 8705) ($54.2M), and Delivery Trucks ($33.5M). During the last 26 years the exports of South Korea to Libya have increased at an annualized rate of 2.85%, from $207M in 1995 to $429M in 2021.

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

Libya-South Korea In 2021, Libya exported $11.7M to South Korea. The main products that Libya exported to South Korea were Scrap Aluminium ($5.55M), Fish Fillets ($3.98M), and Raw Lead ($1.07M). During the last 26 years the exports of Libya to South Korea have increased at an annualized rate of 0.5%, from $10.3M in 1995 to $11.7M in 2021.

In 2021, Libya 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, Libya ranked 114 in the Economic Complexity Index (ECI -1.18), and 67 in total exports ($30.8B).

Latest Trends

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June, 2023

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Overview In June 2023, South Korea exported $43.3M and imported $1.14M from Libya, resulting in a positive trade balance of $42.1M. Between June 2022 and June 2023 the exports of South Korea have increased by $22.8M (112%) from $20.4M to $43.3M, while imports decreased by $-36M (-96.9%) from $37.2M to $1.14M.

Trade In June 2023, the top exports of South Korea to Libya were Cars, tractors, trucks & parts thereof. ($26.1M), Machinery, mechanical appliances, & parts ($3.9M), Plastics & articles thereof ($2.08M), Electrical machinery and electronics ($1.97M), and Rubber & articles thereof ($1.65M). In June 2023 the top imports of South Korea from Libya were Fish, crustaceans, & molluscs ($1.42M), Lead articles ($420k), Aluminum articles ($207k), Preparations of cereals, flour, starch or... ($0), and Tobacco & substitutes ($0).

Growth In June 2023, the increase in South Korea's year-by-year exports to Libya was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($6.85M or 35.5%), Machinery, mechanical appliances, & parts ($3.31M or 559%), and Plastics & articles thereof ($1.73M or 488%). In June 2023, the decrease in South Korea's year-by-year imports from Libya was explained primarily by an decrease in product imports in .

Latest Trade

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Flow

Time Scale

Depth

Value

EXPORT GROWTH (June 2022 - June 2023): $22.8M, (112%)

IMPORT GROWTH (June 2022 - June 2023): $-36M, (-96.9%)

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 Libya 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 $429M to Libya. The main products exported from South Korea to Libya were Cars ($217M), Motor vehicles; parts and accessories (8701 to 8705) ($54.2M), and Delivery Trucks ($33.5M). During the last 26 years the exports of South Korea to Libya have increased at an annualized rate of 2.85%, from $207M in 1995 to $429M in 2021.

In 2021, Libya exported $11.7M to South Korea. The main products exported from Libya to South Korea were Scrap Aluminium ($5.55M), Fish Fillets ($3.98M), and Raw Lead ($1.07M). During the last 26 years the exports of Libya to South Korea have increased at an annualized rate of 0.5%, from $10.3M in 1995 to $11.7M in 2021.

Market Competitiveness

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Color

SectionYear

South Korea
Top Destination: China, $158B

Libya
Top Destination: Italy, $7.47B

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

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

In 2021, countries that imported more from Libya than South Korea were Italy ($7.47B).

Comparative Advantage South Korea - Libya

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Flow

Scale

Year

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

During 2021, South Korea had a large net trade with Libya in the exports of Transportation ($308M), Machines ($57.1M), and Plastics and Rubbers ($25.6M).

During 2021, Libya had a large net trade with South Korea in the exports of Metals ($6.63M), Animal Products ($4.59M), and Chemical Products ($445k).

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

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Latest Trends

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Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage South Korea - Libya

Economic Complexity

Competitive Landscape

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