New 50% OFF discount for academic accounts !
New 2022 ECI Rankings !
New Company Reports !
New Product Data Download Page !
Sign In
Pricing

2022
Flag → Flag
Exports $13.4MRnk 164 / 220
2022
Flag → Flag
Top Product $5.37MElectric Batteries
2022
Flag → Flag
Exports $1.68MRnk 16 / 95
2022
Flag → Flag
Top Product $1.07MMolluscs
2022
Flag
Economic Complexity (ECI) ECI 1.71Rnk 4 / 124
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP$8.13BCURRENT US$
Rnk 148 / 186
2012-2022
Flag
GDP GROWTH0%CURRENT US$
Rnk 165 / 186
2022
Flag
GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC$462CURRENT US$
Rnk 183 / 186
2012-2022
Flag
GDP PC GROWTH0%CURRENT US$
Rnk 143 / 186

About

South Korea-Somalia In 2022, South Korea exported $13.4M to Somalia. The main products that South Korea exported to Somalia are Electric Batteries ($5.37M), Polyacetals ($3.08M), and Other Nitrogen Compounds ($1.38M). During the last 26 years the exports of South Korea to Somalia have increased at an annualized rate of 4.42%, from $4.34M in 1996 to $13.4M in 2022.

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

Somalia-South Korea In 2022, Somalia exported $1.68M to South Korea. The main products that Somalia exported to South Korea were Molluscs ($1.07M), Fish oil ($511k), and Non-fillet Frozen Fish ($96k). During the last 26 years the exports of Somalia to South Korea have increased at an annualized rate of 3.37%, from $711k in 1996 to $1.68M in 2022.

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

Comparison In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.71),  and 5 in total exports ($705B). That same year, Somalia ranked 167 in total exports ($569M), and does not have data regarding Economic Complexity Index.

Latest Trends

February, 2024

About

Overview In February 2024, South Korea exported $839k and imported $0 from Somalia, resulting in a positive trade balance of $839k. Between February 2023 and February 2024 the exports of South Korea have decreased by $-181k (-17.7%) from $1.02M to $839k, while imports remained the same by $0 (N/A%) from $0 to $0.

Trade In February 2024, the top exports of South Korea to Somalia were Plastics & articles thereof ($289k), Machinery, mechanical appliances, & parts ($190k), Chemical products n.e.s. ($152k), Organic chemicals ($91k), and Electrical machinery and electronics ($85k). In February 2024 the top imports of South Korea from Somalia were Organic chemicals ($0), Pharmaceutical products ($0), Perfumery & cosmetics ($0), Chemical products n.e.s. ($0), and Plastics & articles thereof ($0).

Growth In February 2024, the decrease in South Korea's year-by-year exports to Somalia was explained primarily by an decrease in product exports in Electrical machinery and electronics ($-328k or -79.4%), Organic chemicals ($-140k or -60.6%), and Chemical products n.e.s. ($-115k or -43.1%). In February 2024, the change in South Korea's year-by-year imports  from Somalia was explained primarily by an decrease in product imports  in .

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (February 2023 - February 2024)$-181k(-17.7%)
IMPORT GROWTH (February 2023 - February 2024)$0(N/A%)

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

For full datasets download visit Bulk Download page.

Explore Somalia and South Korea Data

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $13.4M to Somalia. The main products exported from South Korea to Somalia were Electric Batteries ($5.37M), Polyacetals ($3.08M), and Other Nitrogen Compounds ($1.38M). During the last 26 years the exports of South Korea to Somalia have increased at an annualized rate of 4.42%, from $4.34M in 1996 to $13.4M in 2022.

In 2022, Somalia exported $1.68M to South Korea. The main products exported from Somalia to South Korea were Molluscs ($1.07M), Fish oil ($511k), and Non-fillet Frozen Fish ($96k). During the last 27 years the exports of Somalia to South Korea have increased at an annualized rate of 3.37%, from $711k in 1995 to $1.68M in 2022.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Somalia
Top DestinationUnited Arab Emirates$283M

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 2021, countries that imported more from South Korea than Somalia were China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2019, no countries were registered that imported more from Somalia than from South Korea.

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

Comparative Advantage South Korea - Somalia

Flow
Scale

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

During 2022, South Korea had a large net trade with Somalia in the exports of Machines ($6.08M), Plastics and Rubbers ($4.48M), and Chemical Products ($1.97M).

During 2022, Somalia had a large net trade with South Korea in the exports of Animal Products ($1.16M), Animal and Vegetable Bi-Products ($511k), and Chemical Products ($6.73k).

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more South Korea has comparative advantage over Somalia. Similarly, the more yellow a dot/product is, the more Somalia has comparative advantage over South Korea.

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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: [email protected]
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms