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2022
Flag → Flag
Exports $3.45BRnk 33 / 220
2022
Flag → Flag
Top Product $2.11BRefined Petroleum
2022
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Exports $1.69BRnk 5 / 210
2022
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Top Product $216MRough Wood
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 0.46Rnk 45 / 133
2022
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GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$247BCURRENT US$
Rnk 50 / 186
2012-2022
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GDP GROWTH40.3%CURRENT US$
Rnk 82 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$48,249CURRENT US$
Rnk 22 / 186
2012-2022
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GDP PC GROWTH20.7%CURRENT US$
Rnk 86 / 186

About

South Korea-New Zealand Trade: In 2022, South Korea exported $3.45B to New Zealand. The main products that South Korea exported to New Zealand were Refined Petroleum ($2.11B), Cars ($421M), and Coated Flat-Rolled Iron ($87.7M). Over the past 5 years the exports of South Korea to New Zealand have increased at an annualized rate of 20.1%, from $1.38B in 2017 to $3.45B in 2022.

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 2022, New Zealand exported $1.69B to South Korea. The main products that New Zealand exported to South Korea were Rough Wood ($216M), Raw Aluminium ($213M), and Other Fruits ($145M). Over the past 5 years the exports of New Zealand to South Korea have increased at an annualized rate of 8.29%,  from $1.13B in 2017 to $1.69B in 2022.

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 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, New Zealand ranked 45 in the Economic Complexity Index (ECI 0.46), and 64 in total exports ($46.5B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $287M and imported $127M from New Zealand, resulting in a positive trade balance of $160M. Between October 2023 and October 2024 the exports of South Korea have increased by $18.2M (6.78%) from $269M to $287M, while imports decreased by $-28M (-18%) from $155M to $127M.

Trade In October 2024, the top exports of South Korea to New Zealand were Mineral fuels, mineral oils and products... ($98.4M), Cars, tractors, trucks & parts thereof. ($36.4M), Machinery, mechanical appliances, & parts ($9.67M), Iron & steel ($8.27M), and Plastics & articles thereof ($3.92M). In October 2024 the top imports of South Korea from New Zealand were Edible products of animal origin, n.e.s. ($26.4M), Meat & edible offal ($22.4M), Mineral fuels, mineral oils and products... ($17.9M), Aluminum articles ($17.9M), and Wood, wood articles, & charcoal ($17M).

Growth In October 2024, the increase in South Korea's year-by-year exports to New Zealand was explained primarily by an increase in product exports in Mineral fuels, mineral oils and products... ($52.8M or 116%), Cars, tractors, trucks & parts thereof. ($11.9M or 48.4%), and Iron & steel ($4.32M or 110%). In October 2024, the decrease in South Korea's year-by-year imports  from New Zealand was explained primarily by an decrease in product imports  in Aluminum articles ($-5.61M or -23.9%), Glues, starches, & albuminoid products ($-2.99M or -35.9%), and Wood, wood articles, & charcoal ($-2.84M or -14.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$18.2M(6.78%)
IMPORT GROWTH (October 2023 - October 2024)$-28M(-18%)

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

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $3.45B to New Zealand. The main products exported from South Korea to New Zealand were Refined Petroleum ($2.11B), Cars ($421M), and Coated Flat-Rolled Iron ($87.7M). During the last 5 years the exports of South Korea to New Zealand have increased at an annualized rate of 20.1%, from $1.38B in 2017 to $3.45B in 2022.

In 2017, New Zealand exported $1.69B to South Korea. The main products exported from New Zealand to South Korea were Rough Wood ($216M), Raw Aluminium ($213M), and Other Fruits ($145M). During the last 5 years the exports of New Zealand to South Korea have increased at an annualized rate of 8.29%, from $1.13B in 2022 to $1.69B in 2017.

Exports from South Korea (Flag) to New Zealand (Flag) (2022)

Exports from New Zealand (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
New Zealand
Top DestinationChina$13.1B

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 2022, countries that imported more from South Korea than New Zealand included China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2022, countries that imported more from New Zealand than South Korea included Algeria ($517M), Fiji ($380M), and Cook Islands ($85.2M).

Difference in imports from New Zealand (Flag) and South Korea (Flag) (2022)

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 2022, South Korea had a large net trade with New Zealand in the exports of Mineral Products ($2.12B), Transportation ($451M), and Metals ($282M).

During 2017, New Zealand had a large net trade with South Korea in the exports of Animal Products ($447M), Metals ($272M), and Wood Products ($253M).

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) (2022)

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