South Korea (KOR) and Malaysia (MYS) Trade | The Observatory of Economic Complexity

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South Korea (KOR) and Malaysia (MYS) Trade

2022

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Exports $11.8BRnk 12 / 220

2022

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About

South Korea-Malaysia In 2022, South Korea exported $11.8B to Malaysia. The main products that South Korea exported to Malaysia are Refined Petroleum ($3.36B), Integrated Circuits ($1.82B), and Centrifuges ($366M). During the last 27 years the exports of South Korea to Malaysia have increased at an annualized rate of 5.01%, from $3.15B in 1995 to $11.8B in 2022.

In 2005, South Korea exported services to Malaysia worth $506M, with Transportation ($279M), Travel ($119M), and Other business services ($64.1M) being the largest in terms of value.

Malaysia-South Korea In 2022, Malaysia exported $14B to South Korea. The main products that Malaysia exported to South Korea were Petroleum Gas ($4.07B), Integrated Circuits ($2.94B), and Refined Petroleum ($727M). During the last 27 years the exports of Malaysia to South Korea have increased at an annualized rate of 6.38%, from $2.64B in 1995 to $14B in 2022.

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

Comparison In 2022, South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B). That same year, Malaysia ranked 28 in the Economic Complexity Index (ECI 0.96), and 22 in total exports ($378B).

Latest Trends

February, 2024

About

Overview In February 2024, South Korea exported $937M and imported $1.12B from Malaysia, resulting in a negative trade balance of $185M. Between February 2023 and February 2024 the exports of South Korea have increased by $157M (20.1%) from $781M to $937M, while imports decreased by $-277M (-19.8%) from $1.4B to $1.12B.

Trade In February 2024, the top exports of South Korea to Malaysia were Mineral fuels, mineral oils and products... ($279M), Electrical machinery and electronics ($201M), Iron & steel ($60.1M), Machinery, mechanical appliances, & parts ($56.4M), and Inorganic chemicals ($46.4M). In February 2024 the top imports of South Korea from Malaysia were Mineral fuels, mineral oils and products... ($722M), Electrical machinery and electronics ($316M), Machinery, mechanical appliances, & parts ($44.2M), Optical, photo, & film equipment; medical... ($30.9M), and Aluminum articles ($29.4M).

Growth In February 2024, the increase in South Korea's year-by-year exports to Malaysia was explained primarily by an increase in product exports in Mineral fuels, mineral oils and products... ($88.4M or 46.4%), Inorganic chemicals ($22.4M or 93.5%), and Organic chemicals ($9.39M or 91.6%). In February 2024, the decrease in South Korea's year-by-year imports from Malaysia was explained primarily by an decrease in product imports in Mineral fuels, mineral oils and products... ($-119M or -14.1%), Ships, boats, & floating structures ($-43.3M or -100%), and Iron & steel ($-42.7M or -80.7%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$157M(20.1%)

IMPORT GROWTH (February 2023 - February 2024)$-277M(-19.8%)

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, South Korea exported $11.8B to Malaysia. The main products exported from South Korea to Malaysia were Refined Petroleum ($3.36B), Integrated Circuits ($1.82B), and Centrifuges ($366M). During the last 27 years the exports of South Korea to Malaysia have increased at an annualized rate of 5.01%, from $3.15B in 1995 to $11.8B in 2022.

In 2022, Malaysia exported $14B to South Korea. The main products exported from Malaysia to South Korea were Petroleum Gas ($4.07B), Integrated Circuits ($2.94B), and Refined Petroleum ($727M). During the last 27 years the exports of Malaysia to South Korea have increased at an annualized rate of 6.38%, from $2.64B in 1995 to $14B in 2022.

Exports from South Korea () to Malaysia () (2022)

Exports from Malaysia () to South Korea () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

South Korea
Top DestinationChina$150B

Malaysia
Top DestinationSingapore$53.8B

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

In 2021, countries that imported more from South Korea than Malaysia were China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2021, countries that imported more from Malaysia than South Korea were Singapore ($53.8B), Thailand ($14.9B), and Indonesia ($12.5B).

Difference in imports from Malaysia () and South Korea () (2022)

Comparative Advantage South Korea - Malaysia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, South Korea had a large net trade with Malaysia in the exports of Machines ($3.99B), Mineral Products ($3.44B), and Metals ($1.43B).

During 2022, Malaysia had a large net trade with South Korea in the exports of Mineral Products ($4.92B), Machines ($4.57B), and Metals ($1.39B).

Service Trade

Bilateral Service Trade

In 2005, South Korea exported services to Malaysia worth $506M, with Transportation ($279M), Travel ($119M), and Other business services ($64.1M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea () to Malaysia () (2005)

Economic Complexity

Competitive Landscape

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

Product Space of South Korea () and Malaysia () (2022)

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