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2023
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Exports $6.45BRnk 21 / 142
2023
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Top Product $1.08BMotor vehicles; parts and accessories (8701 to 8705)
2023
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Exports $363MRnk 35 / 197
2023
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Top Product $142MCars
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 1.35Rnk 15 / 132
2023
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GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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 GDP$133BCURRENT US$
Rnk 61 / 195
2013-2023
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GDP GROWTH34.1%CURRENT US$
Rnk 104 / 195
2023
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GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$24,491CURRENT US$
Rnk 51 / 196
2013-2023
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GDP PC GROWTH33.7%CURRENT US$
Rnk 71 / 195

About

South Korea-Slovakia Trade: In 2023, South Korea exported $6.45B to Slovakia. The main products that South Korea exported to Slovakia were Motor vehicles; parts and accessories (8701 to 8705) ($1.08B), Broadcasting Equipment ($903M), and Engine Parts ($501M). Over the past 5 years the exports of South Korea to Slovakia have increased at an annualized rate of 3.98%, from $5.3B in 2018 to $6.45B in 2023.

In 2005, South Korea exported services to Slovakia worth $103M, with Transportation ($40.9M), Other business services ($33.6M), and Services not allocated ($26.3M) being the largest in terms of value.

Slovakia-South Korea Trade: In 2023, Slovakia exported $363M to South Korea. The main products that Slovakia exported to South Korea were Cars ($142M), Motor vehicles; parts and accessories (8701 to 8705) ($70M), and Transmissions ($41.4M). Over the past 5 years the exports of Slovakia to South Korea have increased at an annualized rate of 11.8%,  from $186M in 2018 to $363M in 2023.

In 2020, Slovakia exported services to South Korea worth $8.11M, with Other business services ($2.74M), Transportation ($2.63M), and Computer and information services ($1.83M) being the largest in terms of value.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Slovakia ranked 15 in the Economic Complexity Index (ECI 1.35), and 39 in total exports ($107B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $229M and imported $64.9M from Slovakia, resulting in a positive trade balance of $164M. Between December 2023 and December 2024 the exports of South Korea have increased by $7.29M (3.28%) from $222M to $229M, while imports decreased by $-16M (-19.8%) from $80.9M to $64.9M.

Trade In December 2024, the top exports of South Korea to Slovakia were Cars, tractors, trucks & parts thereof. ($68.5M), Electrical machinery and electronics ($67.3M), Machinery, mechanical appliances, & parts ($62.4M), Optical, photo, & film equipment; medical... ($19M), and Plastics & articles thereof ($8.72M). In December 2024 the top imports of South Korea from Slovakia were Cars, tractors, trucks & parts thereof. ($51.1M), Machinery, mechanical appliances, & parts ($16.1M), Electrical machinery and electronics ($3.9M), Optical, photo, & film equipment; medical... ($809k), and Coated, covered, & laminated fabrics for... ($741k).

Growth In December 2024, the increase in South Korea's year-by-year exports to Slovakia was explained primarily by an increase in product exports in Electrical machinery and electronics ($29.8M or 79.7%), Machinery, mechanical appliances, & parts ($16.6M or 36.2%), and Optical, photo, & film equipment; medical... ($6.43M or 51.2%). In December 2024, the decrease in South Korea's year-by-year imports  from Slovakia was explained primarily by an decrease in product imports  in Cars, tractors, trucks & parts thereof. ($-45.4M or -47%), Optical, photo, & film equipment; medical... ($-789k or -49.4%), and Rubber & articles thereof ($-641k or -69.7%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$7.29M(3.28%)
IMPORT GROWTH (December 2023 - December 2024)$-16M(-19.8%)

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

For full datasets download visit Bulk Download page.

Explore Slovakia and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $6.45B to Slovakia. The main products exported from South Korea to Slovakia were Motor vehicles; parts and accessories (8701 to 8705) ($1.08B), Broadcasting Equipment ($903M), and Engine Parts ($501M). During the last 5 years the exports of South Korea to Slovakia have increased at an annualized rate of 3.98%, from $5.3B in 2018 to $6.45B in 2023.

In 2018, Slovakia exported $363M to South Korea. The main products exported from Slovakia to South Korea were Cars ($142M), Motor vehicles; parts and accessories (8701 to 8705) ($70M), and Transmissions ($41.4M). During the last 5 years the exports of Slovakia to South Korea have increased at an annualized rate of 11.8%, from $186M in 2023 to $363M in 2018.

Exports from South Korea (Flag) to Slovakia (Flag) (2023)

Exports from Slovakia (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Slovakia
Top DestinationGermany$21.5B

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

In 2023, countries that imported more from South Korea than Slovakia included China ($162B), United States ($118B), and Hong Kong ($28.8B).

In 2023, countries that imported more from Slovakia than South Korea included Germany ($21.5B), Czechia ($11.1B), and Austria ($4.21B).

Difference in imports from Slovakia (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - Slovakia

Flow
Scale

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

During 2023, South Korea had a large net trade with Slovakia in the exports of Machines ($4.17B), Transportation ($1.33B), and Metals ($417M).

During 2018, Slovakia had a large net trade with South Korea in the exports of Transportation ($213M), Machines ($122M), and Instruments ($6.49M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Slovakia+$62.6MCars
Top Product Potential Slovakia South Korea+$168MCars

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 2005, South Korea exported services to Slovakia worth $103M, with Transportation ($40.9M), Other business services ($33.6M), and Services not allocated ($26.3M) being the largest in terms of value.

In 2020, Slovakia exported services to South Korea worth $8.11M, with Other business services ($2.74M), Transportation ($2.63M), and Computer and information services ($1.83M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Slovakia (Flag) (2005)

Services Exports from Slovakia (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 Slovakia. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Slovakia. Similarly, a dot/product with the flag of Slovakia indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and Slovakia (Flag) (2023)

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