Flag South Korea / Somalia Flag

Exports Flag β†’ Flag  (2018): $19.3M, Rnk 155 / 210

Top Product Flag β†’ Flag (2018): $4.58M, Electric Batteries

Exports Flag β†’ Flag (2018): $5.23M, Rnk 12 / 67

Top Product Flag β†’ Flag (2018): $3.67M, Industrial Fatty Acids, Oils and Alcohols

Economic Complexity of Flag (2018): ECI 1.85, Rnk 5 / 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): $4.72B, CURRENT US$
Rnk 157 / 196

GDP GROWTH Flag (2008-2018): 0%, CURRENT US$
Rnk 165 / 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): $315, CURRENT US$
Rnk 195 / 196

GDP PC GROWTH Flag (2008-2018): 0%, CURRENT US$
Rnk 145 / 196

South Korea-Somalia: In 2018, South Korea exported $19.3M to Somalia. The main products exported from South Korea to Somalia were Electric Batteries ($4.58M), Refrigerators ($3.63M), and Polyacetals ($2.75M). During the last 22 years the exports of South Korea to Somalia have increased at an annualized rate of 7.02%, from $4.34M in 1996 to $19.3M in 2018.

Somalia-South Korea: In 2018, Somalia exported $5.23M to South Korea. The main products exported from Somalia to South Korea were Industrial Fatty Acids, Oils and Alcohols ($3.67M), Scrap Copper ($1.1M), and Non-fillet Frozen Fish ($244k). During the last 23 years the exports of Somalia to South Korea have increased at an annualized rate of 9.41%, from $724k in 1995 to $5.23M 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, Somalia ranked 163 in total exports ($483M), and does not have data regarding Economic Complexity Index. In terms of GDP Per Capita, South Korea was ranked 34 with a GDP Per Capita of $31,363, and Somalia was ranked 195 with a GDP Per Capita of $315.

Bilateral Trade by Products

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Depth
Value

In 2018, South Korea exported $19.3M to Somalia. The main products exported from South Korea to Somalia were Electric Batteries ($4.58M), Refrigerators ($3.63M), and Polyacetals ($2.75M). During the last 22 years the exports of South Korea to Somalia have increased at an annualized rate of 7.02%, from $4.34M in 1996 to $19.3M in 2018.

In 2018, Somalia exported $5.23M to South Korea. The main products exported from Somalia to South Korea were Industrial Fatty Acids, Oils and Alcohols ($3.67M), Scrap Copper ($1.1M), and Non-fillet Frozen Fish ($244k). During the last 23 years the exports of Somalia to South Korea have increased at an annualized rate of 9.41%, from $724k in 1995 to $5.23M in 2018.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $160B

Somalia
Top Destination
: United Arab Emirates, $148M

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

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

In 2018, no countries were registered that imported more from Somalia than from South Korea.

Comparative Advantage South Korea - Somalia

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Depth

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

During 2018, South Korea had a large net trade with Somalia in the exports of Machines ($12.3M), Plastics and Rubbers ($2.95M), and Chemical Products ($2.86M).

During 2018, Somalia had a large net trade with South Korea in the exports of Chemical Products ($3.69M), Metals ($1.14M), and Animal Products ($398k).

Tariff Section

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In 2018, South Korea and Somalia don't have data regarding the tariffs applied to the products exported, given a no tariff policy, or don't having any tariff history reported whatsoever.

To explore the different product levels and year available with data, visit our Tariff Explorer Section.

Explore Tariff Data

Trade Forecasts

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This section shows a forecast for total trade between South Korea and Somalia. 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

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