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2023
Flag → Flag
Exports $263MRnk 71 / 142
2023
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Top Product $61.7MRefined Petroleum
2023
Flag → Flag
Exports $19.5MRnk 45 / 163
2023
Flag → Flag
Top Product $15.6MRaw Tobacco
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI -1.13Rnk 116 / 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$79.1BCURRENT US$
Rnk 79 / 195
2013-2023
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GDP GROWTH73.2%CURRENT US$
Rnk 37 / 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$1,224CURRENT US$
Rnk 174 / 196
2013-2023
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GDP PC GROWTH27.1%CURRENT US$
Rnk 83 / 195

About

South Korea-Tanzania Trade: In 2023, South Korea exported $263M to Tanzania. The main products that South Korea exported to Tanzania were Refined Petroleum ($61.7M), Aluminium Wire ($28.3M), and Cyanides ($18.7M). Over the past 5 years the exports of South Korea to Tanzania have increased at an annualized rate of 13.2%, from $142M in 2018 to $263M in 2023.

In 2023, South Korea did not export any services to Tanzania.

Tanzania-South Korea Trade: In 2023, Tanzania exported $19.5M to South Korea. The main products that Tanzania exported to South Korea were Raw Tobacco ($15.6M), Coffee ($2.92M), and Locust beans, seaweed, sugar beet, cane, for food ($365k). Over the past 5 years the exports of Tanzania to South Korea have decreased at an annualized rate of 12.1%,  from $37.1M in 2018 to $19.5M in 2023.

In 2023, Tanzania did not export any services to South Korea.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Tanzania ranked 116 in the Economic Complexity Index (ECI -1.13), and 99 in total exports ($11.3B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $49.8M and imported $2.59M from Tanzania, resulting in a positive trade balance of $47.2M. Between December 2023 and December 2024 the exports of South Korea have increased by $38.8M (351%) from $11M to $49.8M, while imports increased by $2.22M (604%) from $368k to $2.59M.

Trade In December 2024, the top exports of South Korea to Tanzania were Aluminum articles ($2.3M), Inorganic chemicals ($2.26M), Cars, tractors, trucks & parts thereof. ($1.5M), Plastics & articles thereof ($860k), and Organic chemicals ($778k). In December 2024 the top imports of South Korea from Tanzania were Tobacco & substitutes ($8.9M), Copper articles ($3.64M), Coffee, tea, mate & spices ($254k), Live trees, plants, bulbs, cut flowers,... ($48k), and Aluminum articles ($25k).

Growth In December 2024, the increase in South Korea's year-by-year exports to Tanzania was explained primarily by an increase in product exports in Aluminum articles ($1.66M or 260%), Inorganic chemicals ($927k or 69.3%), and Organic chemicals ($766k or 6.38k%). In December 2024, the increase in South Korea's year-by-year imports  from Tanzania was explained primarily by an increase in product imports  in Tobacco & substitutes ($7.71M or 652%), Copper articles ($778k or 27.2%), and Live trees, plants, bulbs, cut flowers,... ($5k or 11.6%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$38.8M(351%)
IMPORT GROWTH (December 2023 - December 2024)$2.22M(604%)

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

For full datasets download visit Bulk Download page.

Explore Tanzania and South Korea Data

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Historical Data

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Tanzania
Top DestinationIndia$1.74B

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

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

In 2023, countries that imported more from Tanzania than South Korea included Uganda ($1.35B), Democratic Republic of the Congo ($313M), and Zambia ($310M).

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

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Tanzania+$78.3MRefined Petroleum
Top Product Potential Tanzania South Korea+$18.1MCopper Ore

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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Economic Complexity

Competitive Landscape

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

Product Space of South Korea (Flag) and Tanzania (Flag) (NaN)

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