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Pricing

2022
Flag → Flag
Exports $230MRnk 90 / 220
2022
Flag → Flag
Top Product $25.9MSynthetic Rubber
2022
Flag → Flag
Exports $104MRnk 28 / 194
2022
Flag → Flag
Top Product $8.51MRubber Apparel
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.35Rnk 82 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP$74.4BCURRENT US$
Rnk 76 / 186
2012-2022
Flag
GDP GROWTH5.62%CURRENT US$
Rnk 153 / 186
2022
Flag
GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC$3,354CURRENT US$
Rnk 130 / 186
2012-2022
Flag
GDP PC GROWTH0.074%CURRENT US$
Rnk 141 / 186

About

South Korea-Sri Lanka Trade: In 2022, South Korea exported $230M to Sri Lanka. The main products that South Korea exported to Sri Lanka were Synthetic Rubber ($25.9M), Aluminium Plating ($17.2M), and Refined Petroleum ($15.8M). Over the past 5 years the exports of South Korea to Sri Lanka have decreased at an annualized rate of 7.36%, from $337M in 2017 to $230M in 2022.

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

Sri Lanka-South Korea Trade: In 2022, Sri Lanka exported $104M to South Korea. The main products that Sri Lanka exported to South Korea were Rubber Apparel ($8.51M), Non-Knit Women's Suits ($8.46M), and Coconut and Other Vegetable Fibers ($7.43M). Over the past 5 years the exports of Sri Lanka to South Korea have increased at an annualized rate of 7.02%,  from $73.8M in 2017 to $104M in 2022.

In 2022, Sri Lanka 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, Sri Lanka ranked 82 in the Economic Complexity Index (ECI -0.35), and 89 in total exports ($14.8B).

Latest Trends

September, 2024

About

Overview In September 2024, South Korea exported $13.8M and imported $8.25M from Sri Lanka, resulting in a positive trade balance of $5.52M. Between September 2023 and September 2024 the exports of South Korea have decreased by $-40.8M (-74.8%) from $54.6M to $13.8M, while imports increased by $35k (0.43%) from $8.22M to $8.25M.

Trade In September 2024, the top exports of South Korea to Sri Lanka were Mineral fuels, mineral oils and products... ($3.35M), Man-made filaments ($1.53M), Plastics & articles thereof ($1.4M), Knitted fabrics ($1.2M), and Machinery, mechanical appliances, & parts ($902k). In September 2024 the top imports of South Korea from Sri Lanka were Knitted clothing accesories ($2.57M), Non-knitted clothing accesories ($2.34M), Rubber & articles thereof ($1.56M), Headgear ($1.36M), and Chemical products n.e.s. ($638k).

Growth In September 2024, the decrease in South Korea's year-by-year exports to Sri Lanka was explained primarily by an decrease in product exports in Rubber & articles thereof ($-2.49M or -81.8%), Plastics & articles thereof ($-2.45M or -63.6%), and Iron & steel ($-1.73M or -80.9%). In September 2024, the increase in South Korea's year-by-year imports  from Sri Lanka was explained primarily by an increase in product imports  in Rubber & articles thereof ($459k or 41.6%), Non-knitted clothing accesories ($281k or 13.7%), and Electrical machinery and electronics ($197k or 107%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (September 2023 - September 2024)$-40.8M(-74.8%)
IMPORT GROWTH (September 2023 - September 2024)$35k(0.43%)

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 Sri Lanka and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Sri Lanka and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $230M to Sri Lanka. The main products exported from South Korea to Sri Lanka were Synthetic Rubber ($25.9M), Aluminium Plating ($17.2M), and Refined Petroleum ($15.8M). During the last 5 years the exports of South Korea to Sri Lanka have decreased at an annualized rate of 7.36%, from $337M in 2017 to $230M in 2022.

In 2017, Sri Lanka exported $104M to South Korea. The main products exported from Sri Lanka to South Korea were Rubber Apparel ($8.51M), Non-Knit Women's Suits ($8.46M), and Coconut and Other Vegetable Fibers ($7.43M). During the last 5 years the exports of Sri Lanka to South Korea have increased at an annualized rate of 7.02%, from $73.8M in 2022 to $104M in 2017.

Exports from South Korea (Flag) to Sri Lanka (Flag) (2022)

Exports from Sri Lanka (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Sri Lanka
Top DestinationUnited States$3.52B

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

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

In 2022, countries that imported more from Sri Lanka than South Korea included Maldives ($128M), Syria ($36M), and Sierra Leone ($17M).

Difference in imports from Sri Lanka (Flag) and South Korea (Flag) (2022)

Comparative Advantage South Korea - Sri Lanka

Flow
Scale

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

During 2022, South Korea had a large net trade with Sri Lanka in the exports of Textiles ($63.1M), Plastics and Rubbers ($54.2M), and Metals ($36M).

During 2017, Sri Lanka had a large net trade with South Korea in the exports of Textiles ($48.6M), Plastics and Rubbers ($14M), and Vegetable Products ($7.19M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Sri Lanka+$30.7MRefined Petroleum
Top Product Potential Sri Lanka South Korea+$10.1MNon-Knit Women's Suits

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

Product Space of South Korea (Flag) and Sri Lanka (Flag) (2022)

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