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2022
Flag → Flag
Exports $142MRnk 102 / 220
2022
Flag → Flag
Top Product $81.8MRefined Petroleum
2022
Flag → Flag
Exports $1.48BRnk 4 / 94
2022
Flag → Flag
Top Product $1.17BPetroleum Gas
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.53Rnk 125 / 133
2022
Flag  
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$30.6BCURRENT US$
Rnk 102 / 186
2012-2022
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GDP GROWTH43.9%CURRENT US$
Rnk 78 / 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
Flag
GDP PC$3,020CURRENT US$
Rnk 133 / 186
2012-2022
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GDP PC GROWTH13.8%CURRENT US$
Rnk 100 / 186

About

South Korea-Papua New Guinea Trade: In 2022, South Korea exported $142M to Papua New Guinea. The main products that South Korea exported to Papua New Guinea were Refined Petroleum ($81.8M), Cyanides ($16.7M), and Delivery Trucks ($7.9M). Over the past 5 years the exports of South Korea to Papua New Guinea have increased at an annualized rate of 27.9%, from $41.6M in 2017 to $142M in 2022.

In 2022, South Korea did not export any services to Papua New Guinea.

Papua New Guinea-South Korea Trade: In 2022, Papua New Guinea exported $1.48B to South Korea. The main products that Papua New Guinea exported to South Korea were Petroleum Gas ($1.17B), Copper Ore ($92.3M), and Precious Metal Ore ($80.9M). Over the past 5 years the exports of Papua New Guinea to South Korea have increased at an annualized rate of 52.1%,  from $182M in 2017 to $1.48B in 2022.

In 2022, Papua New Guinea did not export any services to South Korea.

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Papua New Guinea ranked 125 in the Economic Complexity Index (ECI -1.53), and 87 in total exports ($15.4B).

Latest Trends

September, 2024

About

Overview In September 2024, South Korea exported $9.87M and imported $121M from Papua New Guinea, resulting in a negative trade balance of $112M. Between September 2023 and September 2024 the exports of South Korea have increased by $2.1M (27.1%) from $7.76M to $9.87M, while imports increased by $108M (832%) from $13M to $121M.

Trade In September 2024, the top exports of South Korea to Papua New Guinea were Mineral fuels, mineral oils and products... ($45.1M), Inorganic chemicals ($2.01M), Cars, tractors, trucks & parts thereof. ($676k), Iron or steel articles ($427k), and Machinery, mechanical appliances, & parts ($421k). In September 2024 the top imports of South Korea from Papua New Guinea were Mineral fuels, mineral oils and products... ($266M), Ores, slag and ash ($10.2M), Wood, wood articles, & charcoal ($1.68M), Coffee, tea, mate & spices ($519k), and Aluminum articles ($463k).

Growth In September 2024, the increase in South Korea's year-by-year exports to Papua New Guinea was explained primarily by an increase in product exports in Mineral fuels, mineral oils and products... ($16.2M or 55.8%), Inorganic chemicals ($921k or 84.9%), and Machinery, mechanical appliances, & parts ($303k or 257%). In September 2024, the increase in South Korea's year-by-year imports  from Papua New Guinea was explained primarily by an increase in product imports  in Mineral fuels, mineral oils and products... ($93.3M or 54%), Ores, slag and ash ($3.53M or 53.1%), and Wood, wood articles, & charcoal ($448k or 36.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (September 2023 - September 2024)$2.1M(27.1%)
IMPORT GROWTH (September 2023 - September 2024)$108M(832%)

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

For full datasets download visit Bulk Download page.

Explore Papua New Guinea and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $142M to Papua New Guinea. The main products exported from South Korea to Papua New Guinea were Refined Petroleum ($81.8M), Cyanides ($16.7M), and Delivery Trucks ($7.9M). During the last 5 years the exports of South Korea to Papua New Guinea have increased at an annualized rate of 27.9%, from $41.6M in 2017 to $142M in 2022.

In 2017, Papua New Guinea exported $1.48B to South Korea. The main products exported from Papua New Guinea to South Korea were Petroleum Gas ($1.17B), Copper Ore ($92.3M), and Precious Metal Ore ($80.9M). During the last 5 years the exports of Papua New Guinea to South Korea have increased at an annualized rate of 52.1%, from $182M in 2022 to $1.48B in 2017.

Exports from South Korea (Flag) to Papua New Guinea (Flag) (2022)

Exports from Papua New Guinea (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Papua New Guinea
Top DestinationJapan$4.03B

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

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

In 2022, countries that imported more from Papua New Guinea than South Korea included Brunei ($321M).

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

Comparative Advantage South Korea - Papua New Guinea

Flow
Scale

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

During 2022, South Korea had a large net trade with Papua New Guinea in the exports of Mineral Products ($81.9M), Chemical Products ($19M), and Metals ($18.5M).

During 2017, Papua New Guinea had a large net trade with South Korea in the exports of Mineral Products ($1.44B), Wood Products ($17.2M), and Metals ($12.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Papua New Guinea+$18MRefined Petroleum
Top Product Potential Papua New Guinea South Korea+$125MPetroleum Gas

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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Economic Complexity

Competitive Landscape

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

Product Space of South Korea (Flag) and Papua New Guinea (Flag) (2022)

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