South Korea (KOR) and Nauru (NRU) Trade | The Observatory of Economic Complexity

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Pricing

South Korea (KOR) and Nauru (NRU) Trade

2022

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Exports $1.35MRnk 201 / 220

2022

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About

South Korea-Nauru In 2022, South Korea exported $1.35M to Nauru. The main products that South Korea exported to Nauru are Engine Parts ($576k), Additive manufacturing machines ($257k), and Ball Bearings ($99.7k). During the last 27 years the exports of South Korea to Nauru have increased at an annualized rate of 17.8%, from $16.2k in 1995 to $1.35M in 2022.

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

Nauru-South Korea In 2022, Nauru exported $20.9M to South Korea. The main products that Nauru exported to South Korea were Calcium Phosphates ($19M), Non-fillet Frozen Fish ($1.93M), and Integrated Circuits ($874). During the last 27 years the exports of Nauru to South Korea have increased at an annualized rate of 6.33%, from $3.99M in 1995 to $20.9M in 2022.

In 2022, Nauru 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, Nauru ranked 189 in total exports ($198M), and does not have data regarding Economic Complexity Index.

Latest Trends

February, 2024

About

Overview In February 2024, South Korea exported $37k and imported $0 from Nauru, resulting in a positive trade balance of $37k. Between February 2023 and February 2024 the exports of South Korea have remained the same by $0 (0%) from $37k to $37k, while imports remained the same by $0 (N/A%) from $0 to $0.

Trade In February 2024, the top exports of South Korea to Nauru were Machinery, mechanical appliances, & parts ($88k), Mineral fuels, mineral oils and products... ($37k), Iron or steel articles ($5k), Soap, cleaners, candles, dental, modelling pastes ($4k), and Electrical machinery and electronics ($4k). In February 2024 the top imports of South Korea from Nauru were Mineral fuels, mineral oils and products... ($0), Soap, cleaners, candles, dental, modelling pastes ($0), Iron or steel articles ($0), Machinery, mechanical appliances, & parts ($0), and Electrical machinery and electronics ($0).

Growth In February 2024, the change in South Korea's year-by-year exports to Nauru was explained primarily by an decrease in product exports in . In February 2024, the change in South Korea's year-by-year imports from Nauru was explained primarily by an decrease in product imports in .

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)$0(0%)

IMPORT GROWTH (February 2023 - February 2024)$0(N/A%)

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 Nauru 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 $1.35M to Nauru. The main products exported from South Korea to Nauru were Engine Parts ($576k), Additive manufacturing machines ($257k), and Ball Bearings ($99.7k). During the last 27 years the exports of South Korea to Nauru have increased at an annualized rate of 17.8%, from $16.2k in 1995 to $1.35M in 2022.

In 2022, Nauru exported $20.9M to South Korea. The main products exported from Nauru to South Korea were Calcium Phosphates ($19M), Non-fillet Frozen Fish ($1.93M), and Integrated Circuits ($874). During the last 27 years the exports of Nauru to South Korea have increased at an annualized rate of 6.33%, from $3.99M in 1995 to $20.9M in 2022.

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

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

Market Competitiveness

Color

Exports

Export Growth

Section

Year

South Korea
Top DestinationChina$150B

Nauru
Top DestinationThailand$117M

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

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

In 2019, no countries were registered that imported more from Nauru than from South Korea.

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

Comparative Advantage South Korea - Nauru

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, South Korea had a large net trade with Nauru in the exports of Machines ($1.21M), Mineral Products ($91.2k), and Foodstuffs ($23.6k).

During 2022, Nauru had a large net trade with South Korea in the exports of Mineral Products ($19M), Animal Products ($1.93M), and Machines ($874).

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

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

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