NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $93.7MRnk 93 / 142
2023
Flag → Flag
Top Product $27.4MMotor vehicles; parts and accessories (8701 to 8705)
2023
Flag → Flag
Exports $13.4MRnk 59 / 166
2023
Flag → Flag
Top Product $4.21MFrozen Bovine Meat
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.22Rnk 52 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$77.2BCURRENT US$
Rnk 81 / 195
2013-2023
Flag
GDP GROWTH25.9%CURRENT US$
Rnk 122 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$22,798CURRENT US$
Rnk 54 / 196
2013-2023
Flag
GDP PC GROWTH24.3%CURRENT US$
Rnk 90 / 195

About

South Korea-Uruguay Trade: In 2023, South Korea exported $93.7M to Uruguay. The main products that South Korea exported to Uruguay were Motor vehicles; parts and accessories (8701 to 8705) ($27.4M), Cars ($9.92M), and Large Construction Vehicles ($7.27M). Over the past 5 years the exports of South Korea to Uruguay have decreased at an annualized rate of 1.98%, from $104M in 2018 to $93.7M in 2023.

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

Uruguay-South Korea Trade: In 2023, Uruguay exported $13.4M to South Korea. The main products that Uruguay exported to South Korea were Frozen Bovine Meat ($4.21M), Other Prepared Meat ($2.76M), and Sawn Wood ($2.4M). Over the past 5 years the exports of Uruguay to South Korea have decreased at an annualized rate of 28.1%,  from $135M in 2018 to $13.4M in 2023.

In 2023, Uruguay 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, Uruguay ranked 52 in the Economic Complexity Index (ECI 0.22), and 100 in total exports ($11B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $15.1M and imported $8.76M from Uruguay, resulting in a positive trade balance of $6.39M. Between December 2023 and December 2024 the exports of South Korea have increased by $5.3M (53.9%) from $9.85M to $15.1M, while imports increased by $477k (5.76%) from $8.28M to $8.76M.

Trade In December 2024, the top exports of South Korea to Uruguay were Cars, tractors, trucks & parts thereof. ($4.16M), Machinery, mechanical appliances, & parts ($2.93M), Electrical machinery and electronics ($2.46M), Plastics & articles thereof ($346k), and Organic chemicals ($267k). In December 2024 the top imports of South Korea from Uruguay were Wood pulp & paper scrap ($7.66M), Fish, Crustaceans & Molluscs ($381k), Preparations of fish, crustacenas, & molluscs ($216k), Wood, wood articles, & charcoal ($209k), and Meat & edible offal ($111k).

Growth In December 2024, the increase in South Korea's year-by-year exports to Uruguay was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($2.16M or 108%), Machinery, mechanical appliances, & parts ($1.35M or 85.2%), and Electrical machinery and electronics ($328k or 15.4%). In December 2024, the increase in South Korea's year-by-year imports  from Uruguay was explained primarily by an increase in product imports  in Wood pulp & paper scrap ($1.4M or 22.4%) and Fish, Crustaceans & Molluscs ($242k or 174%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$5.3M(53.9%)
IMPORT GROWTH (December 2023 - December 2024)$477k(5.76%)

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

For full datasets download visit Bulk Download page.

Explore Uruguay and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $93.7M to Uruguay. The main products exported from South Korea to Uruguay were Motor vehicles; parts and accessories (8701 to 8705) ($27.4M), Cars ($9.92M), and Large Construction Vehicles ($7.27M). During the last 5 years the exports of South Korea to Uruguay have decreased at an annualized rate of 1.98%, from $104M in 2018 to $93.7M in 2023.

In 2018, Uruguay exported $13.4M to South Korea. The main products exported from Uruguay to South Korea were Frozen Bovine Meat ($4.21M), Other Prepared Meat ($2.76M), and Sawn Wood ($2.4M). During the last 5 years the exports of Uruguay to South Korea have decreased at an annualized rate of 28.1%, from $135M in 2023 to $13.4M in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Uruguay
Top DestinationChina$2.34B

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

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

In 2023, countries that imported more from Uruguay than South Korea included Algeria ($121M), Russia ($63.2M), and Venezuela ($52.6M).

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

Comparative Advantage South Korea - Uruguay

Flow
Scale

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

During 2023, South Korea had a large net trade with Uruguay in the exports of Transportation ($42.9M), Machines ($20.8M), and Chemical Products ($10.4M).

During 2018, Uruguay had a large net trade with South Korea in the exports of Animal Products ($7.32M), Foodstuffs ($2.77M), and Wood Products ($2.5M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Uruguay+$12.4MCars
Top Product Potential Uruguay South Korea+$14.2MCrude Petroleum

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

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

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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms