Flag South Korea / New Zealand Flag

Exports Flag β†’ Flag  (2018): $1.84B, Rnk 40 / 210

Top Product Flag β†’ Flag (2018): $867M, Refined Petroleum

Exports Flag β†’ Flag (2018): $1.25B, Rnk 5 / 206

Top Product Flag β†’ Flag (2018): $252M, Rough Wood

Economic Complexity of Flag (2018): ECI 1.85, Rnk 5 / 137

Economic Complexity of Flag (2018): ECI 0.46, Rnk 49 / 137

GDP Flag (2018): $1.62T, CURRENT US$
Rnk 12 / 196

GDP GROWTH Flag (2008-2018): 61.6%, CURRENT US$
Rnk 69 / 196

GDP Flag (2018): $205B, CURRENT US$
Rnk 51 / 196

GDP GROWTH Flag (2008-2018): 53.8%, CURRENT US$
Rnk 77 / 196

GDP PC Flag (2018): $31,363, CURRENT US$
Rnk 34 / 196

GDP PC GROWTH Flag (2008-2018): 53.5%, CURRENT US$
Rnk 42 / 196

GDP PC Flag (2018): $41,945, CURRENT US$
Rnk 24 / 196

GDP PC GROWTH Flag (2008-2018): 34.1%, CURRENT US$
Rnk 74 / 196

South Korea-New Zealand: In 2018, South Korea exported $1.84B to New Zealand. The main products exported from South Korea to New Zealand were Refined Petroleum ($867M), Cars ($287M), and Large Construction Vehicles ($70.8M). During the last 23 years the exports of South Korea to New Zealand have increased at an annualized rate of 9.34%, from $236M in 1995 to $1.84B in 2018. 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: In 2018, New Zealand exported $1.25B to South Korea. The main products exported from New Zealand to South Korea were Rough Wood ($252M), Raw Aluminium ($113M), and Other Edible Preparations ($97.8M). During the last 23 years the exports of New Zealand to South Korea have increased at an annualized rate of 2.2%, from $758M in 1995 to $1.25B in 2018. 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 2018, South Korea ranked 5 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($617B). That same year, New Zealand ranked 49 in the Economic Complexity Index (ECI 0.46), and 58 in total exports ($40.1B). In terms of GDP Per Capita, South Korea was ranked 34 with a GDP Per Capita of $31,363, and New Zealand was ranked 24 with a GDP Per Capita of $41,945.

Bilateral Trade by Products

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Depth
Value

In 2018, South Korea exported $1.84B to New Zealand. The main products exported from South Korea to New Zealand were Refined Petroleum ($867M), Cars ($287M), and Large Construction Vehicles ($70.8M). During the last 23 years the exports of South Korea to New Zealand have increased at an annualized rate of 9.34%, from $236M in 1995 to $1.84B in 2018.

In 2018, New Zealand exported $1.25B to South Korea. The main products exported from New Zealand to South Korea were Rough Wood ($252M), Raw Aluminium ($113M), and Other Edible Preparations ($97.8M). During the last 23 years the exports of New Zealand to South Korea have increased at an annualized rate of 2.2%, from $758M in 1995 to $1.25B in 2018.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $160B

New Zealand
Top Destination
: China, $9.75B

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 2018, countries that imported more from South Korea than New Zealand were China ($160B), United States ($73.1B), and Vietnam ($48.6B).

In 2018, countries that imported more from New Zealand than South Korea were Fiji ($371M), French Polynesia ($111M), and Cook Islands ($53.5M).

Comparative Advantage South Korea - New Zealand

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Depth

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

During 2018, South Korea had a large net trade with New Zealand in the exports of Mineral Products ($879M), Transportation ($314M), and Machines ($213M).

During 2018, New Zealand had a large net trade with South Korea in the exports of Animal Products ($298M), Wood Products ($284M), and Foodstuffs ($163M).

Tariff Section

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This sections shows import tariffs for products traded between South Korea and New Zealand (using the HS6 product classification and the last year reported).

In 2018, the products from South Korea that paid the highest import tariffs to enter New Zealand were Manioc (cassava), fresh or dried (887%) and Cereals: fonio (Digitaria spp.) (800%).

In 2017, the products from New Zealand that paid the highest import tariffs to enter South Korea were Articles of apparel of leather or composition leather (7.1%) and Womens, girls overcoats, etc, material nes, knit (7.1%).

Explore Tariff Data

*The tariffs present between South Korea and New Zealand are:
136: Most Favoured Nation duty rate treatement
277: Preferential tariff for New Zealand

Trade Forecasts

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This section shows a forecast for total trade between South Korea and New Zealand. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

Explore Forecasts

Bilateral Service Trade

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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.

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 red.  This mean that the more blue a dot/product is, the more South Korea has comparative advantage over New Zealand. Similarly, the more red a dot/product is, the more New Zealand has comparative advantage over South Korea.