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2022
Flag → Flag
Exports $367MRnk 79 / 220
2022
Flag → Flag
Top Product $169MCars
2022
Flag → Flag
Exports $82.7MRnk 25 / 79
2022
Flag → Flag
Top Product $54.8MPassenger and Cargo Ships
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI -0.84Rnk 104 / 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$45.8BCURRENT US$
Rnk 91 / 186
2012-2022
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GDP GROWTH-50.6%CURRENT US$
Rnk 186 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$6,716CURRENT US$
Rnk 97 / 186
2012-2022
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GDP PC GROWTH-57.4%CURRENT US$
Rnk 185 / 186

About

South Korea-Libya Trade: In 2022, South Korea exported $367M to Libya. The main products that South Korea exported to Libya were Cars ($169M), Motor vehicles; parts and accessories (8701 to 8705) ($54M), and Electric Batteries ($21M). Over the past 5 years the exports of South Korea to Libya have increased at an annualized rate of 5.56%, from $280M in 2017 to $367M in 2022.

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

Libya-South Korea Trade: In 2022, Libya exported $82.7M to South Korea. The main products that Libya exported to South Korea were Passenger and Cargo Ships ($54.8M), Refined Petroleum ($16.7M), and Fish Fillets ($5.4M). Over the past 5 years the exports of Libya to South Korea have decreased at an annualized rate of 2.97%,  from $138M in 2017 to $82.7M in 2022.

In 2022, Libya 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, Libya ranked 104 in the Economic Complexity Index (ECI -0.84), and 67 in total exports ($36B).

Latest Trends

July, 2024

About

Overview In July 2024, South Korea exported $48.6M and imported $2.83M from Libya, resulting in a positive trade balance of $45.7M. Between July 2023 and July 2024 the exports of South Korea have increased by $8.18M (20.3%) from $40.4M to $48.6M, while imports increased by $1.46M (106%) from $1.38M to $2.83M.

Trade In July 2024, the top exports of South Korea to Libya were Cars, tractors, trucks & parts thereof. ($22.4M), Machinery, mechanical appliances, & parts ($2.26M), Electrical machinery and electronics ($1.93M), Rubber & articles thereof ($1.27M), and Organic chemicals ($720k). In July 2024 the top imports of South Korea from Libya were Aluminum articles ($181k), Fish, crustaceans, & molluscs ($38k), Tobacco & substitutes ($0), Mineral fuels, mineral oils and products... ($0), and Organic chemicals ($0).

Growth In July 2024, the increase in South Korea's year-by-year exports to Libya was explained primarily by an increase in product exports in Organic chemicals ($650k or 929%), Optical, photo, & film equipment; medical... ($111k or 427%), and Mineral fuels, mineral oils and products... ($62k or 10.3%). In July 2024, the increase in South Korea's year-by-year imports  from Libya was explained primarily by an increase in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$8.18M(20.3%)
IMPORT GROWTH (July 2023 - July 2024)$1.46M(106%)

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.

For full datasets download visit Bulk Download page.

Explore Libya and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $367M to Libya. The main products exported from South Korea to Libya were Cars ($169M), Motor vehicles; parts and accessories (8701 to 8705) ($54M), and Electric Batteries ($21M). During the last 5 years the exports of South Korea to Libya have increased at an annualized rate of 5.56%, from $280M in 2017 to $367M in 2022.

In 2017, Libya exported $82.7M to South Korea. The main products exported from Libya to South Korea were Passenger and Cargo Ships ($54.8M), Refined Petroleum ($16.7M), and Fish Fillets ($5.4M). During the last 5 years the exports of Libya to South Korea have decreased at an annualized rate of 2.97%, from $138M in 2022 to $82.7M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Libya
Top DestinationItaly$9.26B

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

In 2022, countries that imported more from Libya than South Korea included Italy ($9.26B), Greece ($2.25B), and Tunisia ($168M).

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

Comparative Advantage South Korea - Libya

Flow
Scale

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

During 2022, South Korea had a large net trade with Libya in the exports of Transportation ($249M), Machines ($53.3M), and Plastics and Rubbers ($27.6M).

During 2017, Libya had a large net trade with South Korea in the exports of Transportation ($54.8M), Mineral Products ($16.7M), and Animal Products ($6.32M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Libya+$15.5MRefined Petroleum
Top Product Potential Libya South Korea+$15.9MRefined Petroleum

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

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

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