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2023
Flag → Flag
Exports $28.4MRnk 115 / 142
2023
Flag → Flag
Top Product $14.8MPackaged Medicaments
2023
Flag → Flag
Exports $20.6MRnk 15 / 126
2023
Flag → Flag
Top Product $20.5MRaw Tobacco
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$12.7BCURRENT US$
Rnk 143 / 195
2013-2023
Flag
GDP GROWTH58.3%CURRENT US$
Rnk 58 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$602CURRENT US$
Rnk 190 / 196
2013-2023
Flag
GDP PC GROWTH21.2%CURRENT US$
Rnk 101 / 195

About

South Korea-Malawi Trade: In 2023, South Korea exported $28.4M to Malawi. The main products that South Korea exported to Malawi were Packaged Medicaments ($14.8M), Vaccines, blood, antisera, toxins and cultures ($3.09M), and Vinyl Chloride Polymers ($2.64M). Over the past 5 years the exports of South Korea to Malawi have increased at an annualized rate of 2.24%, from $25.4M in 2018 to $28.4M in 2023.

In 2023, South Korea did not export any services to Malawi.

Malawi-South Korea Trade: In 2023, Malawi exported $20.6M to South Korea. The main products that Malawi exported to South Korea were Raw Tobacco ($20.5M), Other Nuts ($47.6k), and Scrap Iron ($34.2k). Over the past 5 years the exports of Malawi to South Korea have increased at an annualized rate of 29.2%,  from $5.73M in 2018 to $20.6M in 2023.

In 2023, Malawi did not export any services to South Korea.

Comparison In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85),  and 5 in total exports ($645B). That same year, Malawi ranked 163 in total exports ($922M), and does not have data regarding Economic Complexity Index.

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $2.79M and imported $207k from Malawi, resulting in a positive trade balance of $2.58M. Between December 2023 and December 2024 the exports of South Korea have increased by $2.54M (1.02k%) from $248k to $2.79M, while imports decreased by $-3.4M (-94.3%) from $3.61M to $207k.

Trade In December 2024, the top exports of South Korea to Malawi were Pharmaceutical products ($1.9M), Plastics & articles thereof ($49k), Cars, tractors, trucks & parts thereof. ($45k), Furniture, bedding, lamps, & prefab buildings ($9k), and Machinery, mechanical appliances, & parts ($3k). In December 2024 the top imports of South Korea from Malawi were Tobacco & substitutes ($6.4M), Sugars & confectioneries ($36k), Cereals ($0), Pharmaceutical products ($0), and Plastics & articles thereof ($0).

Growth In December 2024, the increase in South Korea's year-by-year exports to Malawi was explained primarily by an increase in product exports in . In December 2024, the decrease in South Korea's year-by-year imports  from Malawi was explained primarily by an decrease in product imports  in Tobacco & substitutes ($-4.43M or -40.9%) and Machinery, mechanical appliances, & parts ($-1k or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$2.54M(1.02k%)
IMPORT GROWTH (December 2023 - December 2024)$-3.4M(-94.3%)

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

For full datasets download visit Bulk Download page.

Explore Malawi and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $28.4M to Malawi. The main products exported from South Korea to Malawi were Packaged Medicaments ($14.8M), Vaccines, blood, antisera, toxins and cultures ($3.09M), and Vinyl Chloride Polymers ($2.64M). During the last 5 years the exports of South Korea to Malawi have increased at an annualized rate of 2.24%, from $25.4M in 2018 to $28.4M in 2023.

In 2018, Malawi exported $20.6M to South Korea. The main products exported from Malawi to South Korea were Raw Tobacco ($20.5M), Other Nuts ($47.6k), and Scrap Iron ($34.2k). During the last 5 years the exports of Malawi to South Korea have increased at an annualized rate of 29.2%, from $5.73M in 2023 to $20.6M in 2018.

Exports from South Korea (Flag) to Malawi (Flag) (2023)

Exports from Malawi (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Malawi
Top DestinationGermany$99.1M

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

In 2023, countries that imported more from South Korea than Malawi included China ($162B), United States ($118B), and Hong Kong ($28.8B).

In 2023, countries that imported more from Malawi than South Korea included Zimbabwe ($52.4M), Rwanda ($18.8M), and Republic of the Congo ($8.83M).

Difference in imports from Malawi (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - Malawi

Flow
Scale

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

During 2023, South Korea had a large net trade with Malawi in the exports of Chemical Products ($20M), Plastics and Rubbers ($5.94M), and Machines ($689k).

During 2018, Malawi had a large net trade with South Korea in the exports of Foodstuffs ($20.5M), Vegetable Products ($47.7k), and Metals ($34.2k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Malawi+$2.45MVaccines, blood, antisera, toxins and cultures
Top Product Potential Malawi South Korea+$1.55MRaw Tobacco

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

Product Space of South Korea (Flag) and Malawi (Flag) (2023)

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