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2022
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Exports $575MRnk 65 / 220
2022
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Top Product $59.5MCars
2022
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Exports $612MRnk 28 / 196
2022
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Top Product $146MCorn
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 1.03Rnk 26 / 133
2022
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GDP$1.67TCURRENT US$
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2012-2022
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GDP GROWTH30.3%CURRENT US$
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2022
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 GDP$301BCURRENT US$
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2012-2022
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GDP GROWTH68.2%CURRENT US$
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2022
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GDP PC $32,255CURRENT US$
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2012-2022
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GDP PC GROWTH26.7%CURRENT US$
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2022
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GDP PC$15,892CURRENT US$
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2012-2022
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GDP PC GROWTH77.9%CURRENT US$
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About

South Korea-Romania Trade: In 2022, South Korea exported $575M to Romania. The main products that South Korea exported to Romania were Cars ($59.5M), Large Flat-Rolled Stainless Steel ($42.6M), and Coated Flat-Rolled Iron ($36.3M). Over the past 5 years the exports of South Korea to Romania have increased at an annualized rate of 2.81%, from $501M in 2017 to $575M in 2022.

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

Romania-South Korea Trade: In 2022, Romania exported $612M to South Korea. The main products that Romania exported to South Korea were Corn ($146M), Motor vehicles; parts and accessories (8701 to 8705) ($48.2M), and Non-Knit Women's Coats ($34.6M). Over the past 5 years the exports of Romania to South Korea have increased at an annualized rate of 10.9%,  from $364M in 2017 to $612M in 2022.

In 2020, Romania exported services to South Korea worth $20.1M, with Computer and information services ($10.9M), Other business services ($5.48M), and Transportation ($3.08M) 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, Romania ranked 26 in the Economic Complexity Index (ECI 1.03), and 43 in total exports ($99.5B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $41.6M and imported $48.4M from Romania, resulting in a negative trade balance of $6.82M. Between October 2023 and October 2024 the exports of South Korea have increased by $3.82M (10.1%) from $37.8M to $41.6M, while imports decreased by $-10.6M (-17.9%) from $59M to $48.4M.

Trade In October 2024, the top exports of South Korea to Romania were Cars, tractors, trucks & parts thereof. ($9.52M), Machinery, mechanical appliances, & parts ($4.39M), Iron & steel ($3.74M), Plastics & articles thereof ($3.11M), and Electrical machinery and electronics ($3.05M). In October 2024 the top imports of South Korea from Romania were Electrical machinery and electronics ($11.9M), Cereals ($11.5M), Non-knitted clothing accesories ($10.2M), Machinery, mechanical appliances, & parts ($10M), and Cars, tractors, trucks & parts thereof. ($3.7M).

Growth In October 2024, the increase in South Korea's year-by-year exports to Romania was explained primarily by an increase in product exports in Rubber & articles thereof ($1.09M or 119%), Pharmaceutical products ($233k or 706%), and Paper articles ($218k or 21.8k%). In October 2024, the decrease in South Korea's year-by-year imports  from Romania was explained primarily by an decrease in product imports  in Non-knitted clothing accesories ($-4.33M or -29.9%), Wood, wood articles, & charcoal ($-710k or -55.6%), and Oils seeds, oleaginous fruits, grains, straw... ($-511k or -95%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$3.82M(10.1%)
IMPORT GROWTH (October 2023 - October 2024)$-10.6M(-17.9%)

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

For full datasets download visit Bulk Download page.

Explore Romania and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $575M to Romania. The main products exported from South Korea to Romania were Cars ($59.5M), Large Flat-Rolled Stainless Steel ($42.6M), and Coated Flat-Rolled Iron ($36.3M). During the last 5 years the exports of South Korea to Romania have increased at an annualized rate of 2.81%, from $501M in 2017 to $575M in 2022.

In 2017, Romania exported $612M to South Korea. The main products exported from Romania to South Korea were Corn ($146M), Motor vehicles; parts and accessories (8701 to 8705) ($48.2M), and Non-Knit Women's Coats ($34.6M). During the last 5 years the exports of Romania to South Korea have increased at an annualized rate of 10.9%, from $364M in 2022 to $612M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Romania
Top DestinationGermany$18.8B

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

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

In 2022, countries that imported more from Romania than South Korea included Germany ($18.8B), Bulgaria ($3.9B), and Italy ($9.55B).

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

Comparative Advantage South Korea - Romania

Flow
Scale

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

During 2022, South Korea had a large net trade with Romania in the exports of Metals ($140M), Machines ($124M), and Plastics and Rubbers ($83.6M).

During 2017, Romania had a large net trade with South Korea in the exports of Machines ($194M), Vegetable Products ($157M), and Textiles ($97.8M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Romania+$43.4MCars
Top Product Potential Romania South Korea+$44.7MMotor vehicles; parts and accessories (8701 to 8705)

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 2020, Romania exported services to South Korea worth $20.1M, with Computer and information services ($10.9M), Other business services ($5.48M), and Transportation ($3.08M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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