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2022
Flag → Flag
Exports $930MRnk 58 / 220
2022
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Top Product $228MRefined Petroleum
2022
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Exports $298MRnk 35 / 208
2022
Flag → Flag
Top Product $66.1MRubber Tires
2022
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Economic Complexity (ECI) ECI 1.71Rnk 4 / 124
2022
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Economic Complexity (ECI) ECI 0.58Rnk 40 / 124
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$252BCURRENT US$
Rnk 49 / 186
2012-2022
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GDP GROWTH16.5%CURRENT US$
Rnk 132 / 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$24,275CURRENT US$
Rnk 46 / 186
2012-2022
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GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186

About

South Korea-Portugal In 2022, South Korea exported $930M to Portugal. The main products that South Korea exported to Portugal are Refined Petroleum ($228M), Cars ($89.2M), and Coated Flat-Rolled Iron ($67.7M). During the last 27 years the exports of South Korea to Portugal have increased at an annualized rate of 2.63%, from $461M in 1995 to $930M in 2022.

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

Portugal-South Korea In 2022, Portugal exported $298M to South Korea. The main products that Portugal exported to South Korea were Rubber Tires ($66.1M), Knit Sweaters ($19.6M), and Cars ($14.3M). During the last 27 years the exports of Portugal to South Korea have increased at an annualized rate of 7.2%, from $45.6M in 1995 to $298M in 2022.

In 2020, Portugal exported services to South Korea worth $18.3M, with Travel ($18.3M) being the largest in terms of value.

Comparison In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B). That same year, Portugal ranked 40 in the Economic Complexity Index (ECI 0.58), and 48 in total exports ($81.7B).

Latest Trends

February, 2024

About

Overview In February 2024, South Korea exported $80.8M and imported $35.4M from Portugal, resulting in a positive trade balance of $45.5M. Between February 2023 and February 2024 the exports of South Korea have increased by $19.9M (32.7%) from $60.9M to $80.8M, while imports decreased by $-13.3M (-27.3%) from $48.7M to $35.4M.

Trade In February 2024, the top exports of South Korea to Portugal were Pharmaceutical products ($18.5M), Electrical machinery and electronics ($12.6M), Plastics & articles thereof ($9.43M), Cars, tractors, trucks & parts thereof. ($7.77M), and Iron & steel ($5.05M). In February 2024 the top imports of South Korea from Portugal were Knitted clothing accesories ($13M), Rubber & articles thereof ($7.3M), Non-knitted clothing accesories ($4.17M), Electrical machinery and electronics ($3M), and Footwear ($2.09M).

Growth In February 2024, the increase in South Korea's year-by-year exports to Portugal was explained primarily by an increase in product exports in Pharmaceutical products ($18.3M or 9k%), Rubber & articles thereof ($934k or 83.8%), and Paper articles ($560k or 303%). In February 2024, the decrease in South Korea's year-by-year imports  from Portugal was explained primarily by an decrease in product imports  in Cars, tractors, trucks & parts thereof. ($-12.3M or -97.3%), Pharmaceutical products ($-10.1M or -93.1%), and Preparations of cereals, flour, starch or... ($-361k or -36.1%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (February 2023 - February 2024)$19.9M(32.7%)
IMPORT GROWTH (February 2023 - February 2024)$-13.3M(-27.3%)

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 Portugal and South Korea trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $930M to Portugal. The main products exported from South Korea to Portugal were Refined Petroleum ($228M), Cars ($89.2M), and Coated Flat-Rolled Iron ($67.7M). During the last 27 years the exports of South Korea to Portugal have increased at an annualized rate of 2.63%, from $461M in 1995 to $930M in 2022.

In 2022, Portugal exported $298M to South Korea. The main products exported from Portugal to South Korea were Rubber Tires ($66.1M), Knit Sweaters ($19.6M), and Cars ($14.3M). During the last 27 years the exports of Portugal to South Korea have increased at an annualized rate of 7.2%, from $45.6M in 1995 to $298M in 2022.

Exports from South Korea (Flag) to Portugal (Flag) (2022)

Exports from Portugal (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Portugal
Top DestinationSpain$20.5B

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

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

In 2021, countries that imported more from Portugal than South Korea were Spain ($20.5B), France ($9.49B), and Angola ($1.59B).

Difference in imports from Portugal (Flag) and South Korea (Flag) (2022)

Comparative Advantage South Korea - Portugal

Flow
Scale

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

During 2022, South Korea had a large net trade with Portugal in the exports of Mineral Products ($228M), Machines ($196M), and Plastics and Rubbers ($143M).

During 2022, Portugal had a large net trade with South Korea in the exports of Plastics and Rubbers ($79.5M), Textiles ($47.7M), and Machines ($37M).

Service Trade

Bilateral Service Trade

In 2020, Portugal exported services to South Korea worth $18.3M, with Travel ($18.3M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Portugal (Flag) to South Korea (Flag) (2020)

Economic Complexity

Competitive Landscape

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

Product Space of South Korea (Flag) and Portugal (Flag) (2022)

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