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2023
Flag → Flag
Exports $3.71BRnk 29 / 142
2023
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Top Product $2.77BRefined Petroleum
2023
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Exports $1.37BRnk 5 / 206
2023
Flag → Flag
Top Product $243MRaw Aluminium
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 0.48Rnk 43 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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 GDP$252BCURRENT US$
Rnk 51 / 195
2013-2023
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GDP GROWTH32.1%CURRENT US$
Rnk 110 / 195
2023
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GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$48,281CURRENT US$
Rnk 28 / 196
2013-2023
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GDP PC GROWTH12.3%CURRENT US$
Rnk 127 / 195

About

South Korea-New Zealand Trade: In 2023, South Korea exported $3.71B to New Zealand. The main products that South Korea exported to New Zealand were Refined Petroleum ($2.77B), Cars ($343M), and Large Construction Vehicles ($48.5M). Over the past 5 years the exports of South Korea to New Zealand have increased at an annualized rate of 13.5%, from $1.97B in 2018 to $3.71B in 2023.

In 2005, South Korea exported services to New Zealand worth $108M, with Transportation ($57.1M), Travel ($26.3M), and Other business services ($17.4M) being the largest in terms of value.

New Zealand-South Korea Trade: In 2023, New Zealand exported $1.37B to South Korea. The main products that New Zealand exported to South Korea were Raw Aluminium ($243M), Rough Wood ($145M), and Cheese ($142M). Over the past 5 years the exports of New Zealand to South Korea have increased at an annualized rate of 0.15%,  from $1.36B in 2018 to $1.37B in 2023.

In 2018, New Zealand exported services to South Korea worth $1.56B, with Travel ($1.44B), Transportation ($74.6M), and Government services, n.i.e. ($16.6M) being the largest in terms of value.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, New Zealand ranked 43 in the Economic Complexity Index (ECI 0.48), and 61 in total exports ($44.5B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $158M and imported $94M from New Zealand, resulting in a positive trade balance of $64.4M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-144M (-47.6%) from $302M to $158M, while imports decreased by $-22.7M (-19.4%) from $117M to $94M.

Trade In December 2024, the top exports of South Korea to New Zealand were Mineral fuels, mineral oils and products... ($129M), Cars, tractors, trucks & parts thereof. ($21.3M), Iron & steel ($8.9M), Machinery, mechanical appliances, & parts ($6.75M), and Plastics & articles thereof ($5.75M). In December 2024 the top imports of South Korea from New Zealand were Edible products of animal origin, n.e.s. ($23.5M), Aluminum articles ($21.1M), Wood, wood articles, & charcoal ($19.8M), Meat & edible offal ($18M), and Mineral fuels, mineral oils and products... ($16.1M).

Growth In December 2024, the decrease in South Korea's year-by-year exports to New Zealand was explained primarily by an decrease in product exports in Cars, tractors, trucks & parts thereof. ($-15.1M or -41.4%), Fertilizers ($-3.34M or -91.2%), and Machinery, mechanical appliances, & parts ($-2.92M or -30.2%). In December 2024, the decrease in South Korea's year-by-year imports  from New Zealand was explained primarily by an decrease in product imports  in Meat & edible offal ($-4.39M or -19.6%), Miscellaneous edible preparations ($-4.31M or -34.3%), and Electrical machinery and electronics ($-3.25M or -76.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-144M(-47.6%)
IMPORT GROWTH (December 2023 - December 2024)$-22.7M(-19.4%)

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 New Zealand and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore New Zealand and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $3.71B to New Zealand. The main products exported from South Korea to New Zealand were Refined Petroleum ($2.77B), Cars ($343M), and Large Construction Vehicles ($48.5M). During the last 5 years the exports of South Korea to New Zealand have increased at an annualized rate of 13.5%, from $1.97B in 2018 to $3.71B in 2023.

In 2018, New Zealand exported $1.37B to South Korea. The main products exported from New Zealand to South Korea were Raw Aluminium ($243M), Rough Wood ($145M), and Cheese ($142M). During the last 5 years the exports of New Zealand to South Korea have increased at an annualized rate of 0.15%, from $1.36B in 2023 to $1.37B in 2018.

Exports from South Korea (Flag) to New Zealand (Flag) (2023)

Exports from New Zealand (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
New Zealand
Top DestinationChina$12.3B

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

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

In 2023, countries that imported more from New Zealand than South Korea included Algeria ($599M), Vietnam ($576M), and Fiji ($433M).

Difference in imports from New Zealand (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - New Zealand

Flow
Scale

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

During 2023, South Korea had a large net trade with New Zealand in the exports of Mineral Products ($2.78B), Transportation ($362M), and Machines ($176M).

During 2018, New Zealand had a large net trade with South Korea in the exports of Animal Products ($398M), Metals ($277M), and Foodstuffs ($191M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea New Zealand+$22.7MCars
Top Product Potential New Zealand South Korea+$21.3MCrude Petroleum

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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Bilateral Service Trade

In 2005, South Korea exported services to New Zealand worth $108M, with Transportation ($57.1M), Travel ($26.3M), and Other business services ($17.4M) being the largest in terms of value.

In 2018, New Zealand exported services to South Korea worth $1.56B, with Travel ($1.44B), Transportation ($74.6M), and Government services, n.i.e. ($16.6M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to New Zealand (Flag) (2005)

Services Exports from New Zealand (Flag) to South Korea (Flag) (2018)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and New Zealand. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over New Zealand. Similarly, a dot/product with the flag of New Zealand indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and New Zealand (Flag) (2023)

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