South Korea (KOR) and Tuvalu (TUV) Trade | OEC - The Observatory of Economic Complexity

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South Korea-Tuvalu In 2021, South Korea exported $11.5M to Tuvalu. The main products that South Korea exported to Tuvalu are Fishing Ships ($8.55M), Stranded Iron Wire ($937k), and Netting ($818k). During the last 26 years the exports of South Korea to Tuvalu have increased at an annualized rate of 31%, from $10.3k in 1995 to $11.5M in 2021.

In 2021, South Korea did not export any services to Tuvalu.

Tuvalu-South Korea In 2021, Tuvalu exported $947k to South Korea. The main products that Tuvalu exported to South Korea were Non-fillet Frozen Fish ($932k), Netting ($8.6k), and Electrical Transformers ($4.3k). During the last 26 years the exports of Tuvalu to South Korea have increased at an annualized rate of 11.4%, from $57.7k in 1995 to $947k in 2021.

In 2021, Tuvalu did not export any services to South Korea.

Comparison In 2021, South Korea ranked 4 in the Economic Complexity Index (ECI 1.82), and 5 in total exports ($653B). That same year, Tuvalu ranked 191 in total exports ($129M), and does not have data regarding Economic Complexity Index.

Latest Trends

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March, 2023

About

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Overview In March 2023, South Korea exported $351k and imported $3k from Tuvalu, resulting in a positive trade balance of $348k. Between March 2022 and March 2023 the exports of South Korea have decreased by $-466k (-57%) from $817k to $351k, while imports increased by $3k (N/A%) from $0 to $3k.

Trade In March 2023, the top exports of South Korea to Tuvalu were Machinery, mechanical appliances, & parts ($31k), Wadding, felt, nonwovens, twin, ropes, &... ($22k), and Iron or steel articles ($7k). In March 2023 the top imports of South Korea from Tuvalu were Wadding, felt, nonwovens, twin, ropes, &... ($0), Iron or steel articles ($0), and Machinery, mechanical appliances, & parts ($0).

Growth In March 2023, the decrease in South Korea's year-by-year exports to Tuvalu was explained primarily by an decrease in product exports in Machinery, mechanical appliances, & parts ($-15k or -32.6%). In March 2023, the increase in South Korea's year-by-year imports from Tuvalu was explained primarily by an increase in product imports in .

Latest Trade

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Flow

Time Scale

Depth

Value

EXPORT GROWTH (March 2022 - March 2023): $-466k, (-57%)

IMPORT GROWTH (March 2022 - March 2023): $3k, (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 Tuvalu and South Korea trade dynamics, check the bilateral page.

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Historical Data

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Bilateral Trade by Products

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Depth

Value

Year

In 2021, South Korea exported $11.5M to Tuvalu. The main products exported from South Korea to Tuvalu were Fishing Ships ($8.55M), Stranded Iron Wire ($937k), and Netting ($818k). During the last 26 years the exports of South Korea to Tuvalu have increased at an annualized rate of 31%, from $10.3k in 1995 to $11.5M in 2021.

In 2021, Tuvalu exported $947k to South Korea. The main products exported from Tuvalu to South Korea were Non-fillet Frozen Fish ($932k), Netting ($8.6k), and Electrical Transformers ($4.3k). During the last 18 years the exports of Tuvalu to South Korea have increased at an annualized rate of 11.4%, from $57.7k in 2003 to $947k in 2021.

Market Competitiveness

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Color

SectionYear

South Korea
Top Destination: China, $158B

Tuvalu
Top Destination: Thailand, $117M

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

In 2021, countries that imported more from South Korea than Tuvalu were China ($158B), United States ($95.9B), and Vietnam ($56.5B).

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

Comparative Advantage South Korea - Tuvalu

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Flow

Scale

Year

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

During 2021, South Korea had a large net trade with Tuvalu in the exports of Transportation ($8.55M), Metals ($1M), and Textiles ($955k).

During 2021, Tuvalu had a large net trade with South Korea in the exports of Animal Products ($932k), Textiles ($9.44k), and Machines ($5.37k).

Economic Complexity

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Competitive Landscape

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Year

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

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Latest Trends

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Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage South Korea - Tuvalu

Economic Complexity

Competitive Landscape

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