Flag South Korea / Saudi Arabia Flag

Exports Flag β†’ Flag  (2018): $4.24B, Rnk 26 / 210

Top Product Flag β†’ Flag (2018): $1.17B, Cars

Exports Flag β†’ Flag (2018): $23.5B, Rnk 4 / 180

Top Product Flag β†’ Flag (2018): $20.7B, Crude Petroleum

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

Economic Complexity of Flag (2018): ECI 0.93, Rnk 27 / 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): $787B, CURRENT US$
Rnk 18 / 196

GDP GROWTH Flag (2008-2018): 51.3%, CURRENT US$
Rnk 79 / 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): $23,339, CURRENT US$
Rnk 42 / 196

GDP PC GROWTH Flag (2008-2018): 16.2%, CURRENT US$
Rnk 110 / 196

South Korea-Saudi Arabia: In 2018, South Korea exported $4.24B to Saudi Arabia. The main products exported from South Korea to Saudi Arabia were Cars ($1.17B), Passenger and Cargo Ships ($366M), and Rubber Tires ($148M). During the last 23 years the exports of South Korea to Saudi Arabia have increased at an annualized rate of 5.63%, from $1.2B in 1995 to $4.24B in 2018. In 2005, South Korea exported services to Saudi Arabia worth $681M, with Services not allocated ($541M), Transportation ($121M), and Other business services ($14.5M) being the largest in terms of value.

Saudi Arabia-South Korea: In 2018, Saudi Arabia exported $23.5B to South Korea. The main products exported from Saudi Arabia to South Korea were Crude Petroleum ($20.7B), Refined Petroleum ($1.34B), and Acyclic Alcohols ($359M). During the last 23 years the exports of Saudi Arabia to South Korea have increased at an annualized rate of 7.13%, from $4.82B in 1995 to $23.5B in 2018.

Comparison: In 2018, South Korea ranked 5 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($617B). That same year, Saudi Arabia ranked 27 in the Economic Complexity Index (ECI 0.93), and 21 in total exports ($263B). In terms of GDP Per Capita, South Korea was ranked 34 with a GDP Per Capita of $31,363, and Saudi Arabia was ranked 42 with a GDP Per Capita of $23,339.

Bilateral Trade by Products

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Depth
Value

In 2018, South Korea exported $4.24B to Saudi Arabia. The main products exported from South Korea to Saudi Arabia were Cars ($1.17B), Passenger and Cargo Ships ($366M), and Rubber Tires ($148M). During the last 23 years the exports of South Korea to Saudi Arabia have increased at an annualized rate of 5.63%, from $1.2B in 1995 to $4.24B in 2018.

In 2018, Saudi Arabia exported $23.5B to South Korea. The main products exported from Saudi Arabia to South Korea were Crude Petroleum ($20.7B), Refined Petroleum ($1.34B), and Acyclic Alcohols ($359M). During the last 23 years the exports of Saudi Arabia to South Korea have increased at an annualized rate of 7.13%, from $4.82B in 1995 to $23.5B in 2018.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $160B

Saudi Arabia
Top Destination
: China, $37.5B

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

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

In 2018, countries that imported more from Saudi Arabia than South Korea were India ($26.3B), Bahrain ($6.72B), and United Arab Emirates ($9.23B).

Comparative Advantage South Korea - Saudi Arabia

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Depth

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

During 2018, South Korea had a large net trade with Saudi Arabia in the exports of Transportation ($1.62B), Machines ($1.03B), and Metals ($527M).

During 2018, Saudi Arabia had a large net trade with South Korea in the exports of Mineral Products ($22.1B), Chemical Products ($880M), and Metals ($265M).

Tariff Section

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This sections shows import tariffs for products traded between South Korea and Saudi Arabia (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 Saudi Arabia were Cereals: fonio (Digitaria spp.) (800%) and Cereals: quinoa (Chenopodium quinoa) (800%).

In 2017, the products from Saudi Arabia that paid the highest import tariffs to enter South Korea were Tobacco refuse (1.37k%) and Homogenized or reconstituted tobacco (585%).

Explore Tariff Data

*The tariffs present between South Korea and Saudi Arabia are:
136: Most Favoured Nation duty rate treatement

Trade Forecasts

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This section shows a forecast for total trade between South Korea and Saudi Arabia. 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 Saudi Arabia worth $681M, with Services not allocated ($541M), Transportation ($121M), and Other business services ($14.5M) 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 Saudi Arabia. Similarly, the more red a dot/product is, the more Saudi Arabia has comparative advantage over South Korea.