Flag South Korea / Norway Flag

2020
FlagFlag
Exports
: $1.57B, Rnk 38 / 218

2020
FlagFlag
Top Product
: $945M, Passenger and Cargo Ships

2020
FlagFlag
Exports
: $1.47B, Rnk 14 / 197

2020
FlagFlag
Top Product
: $366M, Crude Petroleum

2020
Flag
Economic Complexity (ECI)
: ECI 1.88, Rnk 5 / 127

2020
Flag
Economic Complexity (ECI)
: ECI 0.71, Rnk 36 / 127

2020
Flag  
GDP
: $1.64T, CURRENT US$
Rnk 10 / 195

2010-2020
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GDP GROWTH
: 43.2%, CURRENT US$
Rnk 69 / 195

2020
Flag
 GDP
: $362B, CURRENT US$
Rnk 31 / 195

2010-2020
Flag
GDP GROWTH
: -15.5%, CURRENT US$
Rnk 182 / 195

2020
Flag
GDP PC 
: $31,631, CURRENT US$
Rnk 32 / 195

2010-2020
Flag
GDP PC GROWTH
: 37%, CURRENT US$
Rnk 45 / 195

2020
Flag
GDP PC
: $67,330, CURRENT US$
Rnk 7 / 195

2010-2020
Flag
GDP PC GROWTH
: -23.2%, CURRENT US$
Rnk 176 / 195

South Korea-Norway In 2020, South Korea exported $1.57B to Norway. The main products that South Korea exported to Norway are Passenger and Cargo Ships ($945M), Cars ($242M), and Military Weapons ($120M). During the last 25 years the exports of South Korea to Norway have increased at an annualized rate of 4.14%, from $571M in 1995 to $1.57B in 2020.

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 2020, Norway exported $1.47B to South Korea. The main products that Norway exported to South Korea were Crude Petroleum ($366M), Non-fillet Fresh Fish ($185M), and Platinum ($160M). During the last 25 years the exports of Norway to South Korea have increased at an annualized rate of 7.87%, from $222M in 1995 to $1.47B in 2020.

In 2020, Norway did not export any services to South Korea.

Comparison In 2020,  South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B). That same year, Norway ranked 36 in the Economic Complexity Index (ECI 0.71), and 38 in total exports ($86.2B).

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2020, South Korea exported $1.57B to Norway. The main products exported from South Korea to Norway were Passenger and Cargo Ships ($945M), Cars ($242M), and Military Weapons ($120M). During the last 25 years the exports of South Korea to Norway have increased at an annualized rate of 4.14%, from $571M in 1995 to $1.57B in 2020.

In 2020, Norway exported $1.47B to South Korea. The main products exported from Norway to South Korea were Crude Petroleum ($366M), Non-fillet Fresh Fish ($185M), and Platinum ($160M). During the last 25 years the exports of Norway to South Korea have increased at an annualized rate of 7.87%, from $222M in 1995 to $1.47B in 2020.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $131B

Norway
Top Destination
: United Kingdom, $14B

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 2019, countries that imported more from South Korea than Norway were China ($131B), United States ($75B), and Vietnam ($48B).

In 2019, countries that imported more from Norway than South Korea were United Kingdom ($14B), Sweden ($9.1B), and Netherlands ($8.09B).

Comparative Advantage South Korea - Norway

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Flow

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

During 2020, South Korea had a large net trade with Norway in the exports of Transportation ($1.22B), Machines ($123M), and Weapons ($123M).

During 2020, Norway had a large net trade with South Korea in the exports of Mineral Products ($400M), Animal Products ($335M), and Machines ($262M).

Bilateral Service Trade

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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.

Economic Complexity

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Competitive Landscape

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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.