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2023
Flag → Flag
Exports $185MRnk 80 / 142
2023
Flag → Flag
Top Product $76.1MCars
2023
Flag → Flag
Exports $112MRnk 16 / 153
2023
Flag → Flag
Top Product $106MCorn
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI -0.42Rnk 81 / 132
2023
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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$43BCURRENT US$
Rnk 98 / 195
2013-2023
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GDP GROWTH11.6%CURRENT US$
Rnk 152 / 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$6,276CURRENT US$
Rnk 111 / 196
2013-2023
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GDP PC GROWTH-2.48%CURRENT US$
Rnk 157 / 195

About

South Korea-Paraguay Trade: In 2023, South Korea exported $185M to Paraguay. The main products that South Korea exported to Paraguay were Cars ($76.1M), Low-voltage Protection Equipment ($10.5M), and Insulated Wire ($9.07M). Over the past 5 years the exports of South Korea to Paraguay have decreased at an annualized rate of 5.01%, from $239M in 2018 to $185M in 2023.

In 2023, South Korea did not export any services to Paraguay.

Paraguay-South Korea Trade: In 2023, Paraguay exported $112M to South Korea. The main products that Paraguay exported to South Korea were Corn ($106M), Preserved Meat ($1.81M), and Scrap Aluminium ($835k). Over the past 5 years the exports of Paraguay to South Korea have increased at an annualized rate of 26.1%,  from $34.9M in 2018 to $112M in 2023.

In 2023, Paraguay did not export any services to South Korea.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.42), and 94 in total exports ($12.2B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $14.6M and imported $303k from Paraguay, resulting in a positive trade balance of $14.3M. Between December 2023 and December 2024 the exports of South Korea have increased by $3.83M (35.4%) from $10.8M to $14.6M, while imports decreased by $-26.9M (-98.9%) from $27.2M to $303k.

Trade In December 2024, the top exports of South Korea to Paraguay were Cars, tractors, trucks & parts thereof. ($8.34M), Chemical products n.e.s. ($470k), Organic chemicals ($376k), Plastics & articles thereof ($258k), and Machinery, mechanical appliances, & parts ($212k). In December 2024 the top imports of South Korea from Paraguay were Cereals ($19.5M), Miscellaneous edible preparations ($151k), Non-knitted clothing accesories ($10k), Electrical machinery and electronics ($5k), and Oils seeds, oleaginous fruits, grains, straw... ($2k).

Growth In December 2024, the increase in South Korea's year-by-year exports to Paraguay was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($5.71M or 217%), Organic chemicals ($356k or 1.78k%), and Chemical products n.e.s. ($185k or 64.9%). In December 2024, the decrease in South Korea's year-by-year imports  from Paraguay was explained primarily by an decrease in product imports  in Cereals ($-4.52M or -18.8%), Perfumery & cosmetics ($-34k or -97.1%), and Non-knitted clothing accesories ($-7k or -41.2%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$3.83M(35.4%)
IMPORT GROWTH (December 2023 - December 2024)$-26.9M(-98.9%)

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

For full datasets download visit Bulk Download page.

Explore Paraguay and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $185M to Paraguay. The main products exported from South Korea to Paraguay were Cars ($76.1M), Low-voltage Protection Equipment ($10.5M), and Insulated Wire ($9.07M). During the last 5 years the exports of South Korea to Paraguay have decreased at an annualized rate of 5.01%, from $239M in 2018 to $185M in 2023.

In 2018, Paraguay exported $112M to South Korea. The main products exported from Paraguay to South Korea were Corn ($106M), Preserved Meat ($1.81M), and Scrap Aluminium ($835k). During the last 5 years the exports of Paraguay to South Korea have increased at an annualized rate of 26.1%, from $34.9M in 2023 to $112M in 2018.

Exports from South Korea (Flag) to Paraguay (Flag) (2023)

Exports from Paraguay (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Paraguay
Top DestinationArgentina$4B

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

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

In 2023, countries that imported more from Paraguay than South Korea included Argentina ($4B), Russia ($267M), and Uruguay ($274M).

Difference in imports from Paraguay (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - Paraguay

Flow
Scale

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

During 2023, South Korea had a large net trade with Paraguay in the exports of Transportation ($94.1M), Machines ($40.3M), and Plastics and Rubbers ($14.8M).

During 2018, Paraguay had a large net trade with South Korea in the exports of Vegetable Products ($107M), Animal Products ($1.85M), and Metals ($1.54M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Paraguay+$16.4MCars
Top Product Potential Paraguay South Korea+$1.9MScrap Copper

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 Paraguay. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Paraguay. Similarly, a dot/product with the flag of Paraguay indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and Paraguay (Flag) (2023)

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