2021
Flag  
GDP
$1.81TCURRENT US$
Rnk 11 / 204
2011-2021
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GDP GROWTH
44.5%CURRENT US$
Rnk 72 / 204
2021
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 GDP
$490BCURRENT US$
Rnk 26 / 204
2011-2021
Flag
GDP GROWTH
-2.21%CURRENT US$
Rnk 172 / 204
2021
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GDP PC 
$34,998CURRENT US$
Rnk 38 / 204
2011-2021
Flag
GDP PC GROWTH
39.5%CURRENT US$
Rnk 51 / 204
2021
Flag
GDP PC
$90,655CURRENT US$
Rnk 7 / 204
2011-2021
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GDP PC GROWTH
-10.4%CURRENT US$
Rnk 166 / 204

About

South Korea-Norway In 2021, South Korea exported $966M to Norway. The main products that South Korea exported to Norway are Cars ($442M), Passenger and Cargo Ships ($183M), and Vaccines, blood, antisera, toxins and cultures ($105M). During the last 26 years the exports of South Korea to Norway have increased at an annualized rate of 2.04%, from $572M in 1995 to $966M in 2021.

In 2005, South Korea exported services to Norway worth $131M, with Transportation ($74.4M), Other business services ($26.6M), and Travel ($14.6M) being the largest in terms of value.

Norway-South Korea In 2021, Norway exported $2.63B to South Korea. The main products that Norway exported to South Korea were Crude Petroleum ($1.1B), Platinum ($254M), and Non-fillet Fresh Fish ($253M). During the last 26 years the exports of Norway to South Korea have increased at an annualized rate of 9.97%, from $222M in 1995 to $2.63B in 2021.

In 2021, Norway 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, Norway ranked 38 in the Economic Complexity Index (ECI 0.69), and 33 in total exports ($164B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2021, South Korea exported $966M to Norway. The main products exported from South Korea to Norway were Cars ($442M), Passenger and Cargo Ships ($183M), and Vaccines, blood, antisera, toxins and cultures ($105M). During the last 26 years the exports of South Korea to Norway have increased at an annualized rate of 2.04%, from $572M in 1995 to $966M in 2021.

In 2021, Norway exported $2.63B to South Korea. The main products exported from Norway to South Korea were Crude Petroleum ($1.1B), Platinum ($254M), and Non-fillet Fresh Fish ($253M). During the last 26 years the exports of Norway to South Korea have increased at an annualized rate of 9.97%, from $222M in 1995 to $2.63B in 2021.

Exports from South Korea (Flag) to Norway (Flag) (2021)

Exports from Norway (Flag) to South Korea (Flag) (2021)

Market Competitiveness

Color
South Korea
Top Destination
China$158B
Norway
Top Destination
United Kingdom$33.5B

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

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

In 2021, countries that imported more from Norway than South Korea were United Kingdom ($33.5B), Germany ($31.5B), and Sweden ($13.7B).

Difference in imports from Norway (Flag) and South Korea (Flag) (2021)

Comparative Advantage South Korea - Norway

Flow
Scale

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

During 2021, South Korea had a large net trade with Norway in the exports of Transportation ($633M), Chemical Products ($137M), and Machines ($116M).

During 2021, Norway had a large net trade with South Korea in the exports of Mineral Products ($1.16B), Animal Products ($471M), and Machines ($325M).

Service Trade

Bilateral Service Trade

In 2005, South Korea exported services to Norway worth $131M, with Transportation ($74.4M), Other business services ($26.6M), and Travel ($14.6M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Norway (Flag) (2005)

Economic Complexity

Competitive Landscape

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

Product Space of South Korea (Flag) and Norway (Flag) (2021)

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