Flag South Korea / Saudi Arabia Flag

2020
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Exports
: $4.12B, Rnk 24 / 218

2020
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Top Product
: $1.7B, Cars

2020
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Exports
: $14.4B, Rnk 4 / 178

2020
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Top Product
: $12.8B, Crude Petroleum

2020
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Economic Complexity (ECI)
: ECI 1.88, Rnk 5 / 127

2020
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Economic Complexity (ECI)
: ECI 0.86, Rnk 32 / 127

2020
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GDP
: $1.64T, CURRENT US$
Rnk 10 / 195

2010-2020
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GDP GROWTH
: 43.2%, CURRENT US$
Rnk 69 / 195

2020
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 GDP
: $700B, CURRENT US$
Rnk 20 / 195

2010-2020
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GDP GROWTH
: 32.5%, CURRENT US$
Rnk 92 / 195

2020
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GDP PC 
: $31,631, CURRENT US$
Rnk 32 / 195

2010-2020
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GDP PC GROWTH
: 37%, CURRENT US$
Rnk 45 / 195

2020
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GDP PC
: $20,110, CURRENT US$
Rnk 46 / 195

2010-2020
Flag
GDP PC GROWTH
: 4.4%, CURRENT US$
Rnk 122 / 195

South Korea-Saudi Arabia In 2020, South Korea exported $4.12B to Saudi Arabia. The main products that South Korea exported to Saudi Arabia are Cars ($1.7B), Hot-Rolled Iron ($145M), and Rubber Tires ($134M). During the last 25 years the exports of South Korea to Saudi Arabia have increased at an annualized rate of 4.76%, from $1.29B in 1995 to $4.12B in 2020.

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 2020, Saudi Arabia exported $14.4B to South Korea . The main products that Saudi Arabia exported to South Korea were Crude Petroleum ($12.8B), Refined Petroleum ($524M), and Acyclic Alcohols ($211M). During the last 25 years the exports of Saudi Arabia to South Korea have increased at an annualized rate of 4.56%, from $4.72B in 1995 to $14.4B in 2020.

In 2020, Saudi Arabia did not export any services to South Korea.

Comparison In 2020,  South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B). That same year, Saudi Arabia ranked 32 in the Economic Complexity Index (ECI 0.86), and 30 in total exports ($167B).

Historical Data

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Bilateral Trade by Products

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Depth
Value
Compare to

In 2020, South Korea exported $4.12B to Saudi Arabia. The main products exported from South Korea to Saudi Arabia were Cars ($1.7B), Hot-Rolled Iron ($145M), and Rubber Tires ($134M). During the last 25 years the exports of South Korea to Saudi Arabia have increased at an annualized rate of 4.76%, from $1.29B in 1995 to $4.12B in 2020.

In 2020, Saudi Arabia exported $14.4B to South Korea. The main products exported from Saudi Arabia to South Korea were Crude Petroleum ($12.8B), Refined Petroleum ($524M), and Acyclic Alcohols ($211M). During the last 25 years the exports of Saudi Arabia to South Korea have increased at an annualized rate of 4.56%, from $4.72B in 1995 to $14.4B in 2020.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $131B

Saudi Arabia
Top Destination
: China, $33.4B

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 2019, countries that imported more from South Korea than Saudi Arabia were China ($131B), United States ($75B), and Vietnam ($48B).

In 2019, countries that imported more from Saudi Arabia than South Korea were United Arab Emirates ($9.21B), India ($16.8B), and Egypt ($3.59B).

Comparative Advantage South Korea - Saudi Arabia

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Flow

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

During 2020, South Korea had a large net trade with Saudi Arabia in the exports of Transportation ($1.85B), Machines ($809M), and Metals ($525M).

During 2020, Saudi Arabia had a large net trade with South Korea in the exports of Mineral Products ($13.3B), Chemical Products ($551M), and Metals ($216M).

Tariff Section

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This section 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%).

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

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.