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

About

South Korea-Tuvalu Trade: In 2022, South Korea exported $4.01M to Tuvalu. The main products that South Korea exported to Tuvalu were Twine, cordage or rope; knotted netting, made up fishing nets and other made up nets, of textile materials ($1.6M), Engine Parts ($1.34M), and Stranded Iron Wire ($404k). Over the past 5 years the exports of South Korea to Tuvalu have decreased at an annualized rate of 3.45%, from $4.79M in 2017 to $4.01M in 2022.

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

Tuvalu-South Korea Trade: In 2022, Tuvalu exported $1.41M to South Korea. The main products that Tuvalu exported to South Korea were Non-fillet Frozen Fish ($1.39M), Twine, cordage or rope; knotted netting, made up fishing nets and other made up nets, of textile materials ($17k), and Scrap Aluminium ($7.25k). Over the past 5 years the exports of Tuvalu to South Korea have increased at an annualized rate of 853%, from $18 in 2017 to $1.41M in 2022.

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

Comparison In 2022, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Tuvalu ranked 198 in total exports ($72.1M), and does not have data regarding Economic Complexity Index.

Latest Trends

August, 2024

About

Overview In August 2024, South Korea exported $395k and imported $4k from Tuvalu, resulting in a positive trade balance of $391k. Between August 2023 and August 2024 the exports of South Korea have increased by $64k (19.3%) from $331k to $395k, while imports increased by $2k (100%) from $2k to $4k.

Trade In August 2024, the top exports of South Korea to Tuvalu were Iron or steel articles ($188k), Salt, sulphur, cement, lime, stone, &... ($28k), and Wadding, felt, nonwovens, twin, ropes, &... ($0). In August 2024 the top imports of South Korea from Tuvalu were Wadding, felt, nonwovens, twin, ropes, &... ($9k), Salt, sulphur, cement, lime, stone, &... ($0), and Iron or steel articles ($0).

Growth In August 2024, the increase in South Korea's year-by-year exports to Tuvalu was explained primarily by an increase in product exports in Iron or steel articles ($181k or 2.59k%). In August 2024, the increase in South Korea's year-by-year imports from Tuvalu was explained primarily by an increase in product imports in .

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, South Korea exported $4.01M to Tuvalu. The main products exported from South Korea to Tuvalu were Twine, cordage or rope; knotted netting, made up fishing nets and other made up nets, of textile materials ($1.6M), Engine Parts ($1.34M), and Stranded Iron Wire ($404k). During the last 5 years the exports of South Korea to Tuvalu have decreased at an annualized rate of 3.45%, from $4.79M in 2017 to $4.01M in 2022.

In 2017, Tuvalu exported $1.41M to South Korea. The main products exported from Tuvalu to South Korea were Non-fillet Frozen Fish ($1.39M), Twine, cordage or rope; knotted netting, made up fishing nets and other made up nets, of textile materials ($17k), and Scrap Aluminium ($7.25k). During the last 5 years the exports of Tuvalu to South Korea have increased at an annualized rate of 853%, from $18 in 2022 to $1.41M in 2017.

Exports from South Korea () to Tuvalu () (2022)

Exports from Tuvalu () to South Korea () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

South Korea
Top DestinationChina$150B

Tuvalu
Top DestinationThailand$50M

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 2022, countries that imported more from South Korea than Tuvalu included China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2022, no countries were registered that imported more from Tuvalu than from South Korea.

Difference in imports from Tuvalu () and South Korea () (2022)

Comparative Advantage South Korea - Tuvalu

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, South Korea had a large net trade with Tuvalu in the exports of Textiles ($1.64M), Machines ($1.36M), and Metals ($528k).

During 2017, Tuvalu had a large net trade with South Korea in the exports of Animal Products ($1.39M), Textiles ($17.4k), and Metals ($7.25k).

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of South Korea and Tuvalu. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Tuvalu. Similarly, a dot/product with the flag of Tuvalu indicates it has a comparative advantage over South Korea.

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from South Korea () to Tuvalu () (2022)

Exports from Tuvalu () to South Korea () (2022)

Market Competitiveness

Difference in imports from Tuvalu () and South Korea () (2022)

Comparative Advantage South Korea - Tuvalu

Economic Complexity

Competitive Landscape

Product Space of South Korea () and Tuvalu () (2022)

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from South Korea () to Tuvalu () (2022)

Exports from Tuvalu () to South Korea () (2022)

Market Competitiveness

Difference in imports from Tuvalu () and South Korea () (2022)

Comparative Advantage South Korea - Tuvalu

Economic Complexity

Competitive Landscape

Product Space of South Korea () and Tuvalu () (2022)

Keep Exploring