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Pricing

2022
Flag → Flag
Exports $52.2BRnk 3 / 220
2022
Flag → Flag
Top Product $15.9BIntegrated Circuits
2022
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Exports $15.8BRnk 3 / 152
2022
Flag → Flag
Top Product $2.93BTelephones
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 0.2Rnk 55 / 133
2022
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GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$409BCURRENT US$
Rnk 35 / 186
2012-2022
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GDP GROWTH109%CURRENT US$
Rnk 12 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$4,164CURRENT US$
Rnk 120 / 186
2012-2022
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GDP PC GROWTH90.1%CURRENT US$
Rnk 11 / 186

About

South Korea-Vietnam Trade: In 2022, South Korea exported $52.2B to Vietnam. The main products that South Korea exported to Vietnam were Integrated Circuits ($15.9B), Broadcasting Equipment ($11.3B), and Refined Petroleum ($3.67B). Over the past 5 years the exports of South Korea to Vietnam have increased at an annualized rate of 108%, from $1.35B in 2017 to $52.2B in 2022.

In 2005, South Korea exported services to Vietnam worth $385M, with Transportation ($257M), Other business services ($39.4M), and Travel ($38.7M) being the largest in terms of value.

Vietnam-South Korea Trade: In 2022, Vietnam exported $15.8B to South Korea. The main products that Vietnam exported to South Korea were Telephones ($2.93B), Broadcasting Equipment ($2.91B), and Computers ($1.06B). Over the past 5 years the exports of Vietnam to South Korea have increased at an annualized rate of 143%,  from $187M in 2017 to $15.8B in 2022.

In 2022, Vietnam 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, Vietnam ranked 55 in the Economic Complexity Index (ECI 0.2), and 19 in total exports ($399B).

Latest Trends

May, 2024

About

Overview In May 2024, South Korea exported $5.12B and imported $2.04B from Vietnam, resulting in a positive trade balance of $3.08B. Between May 2023 and May 2024 the exports of South Korea have increased by $846M (19.8%) from $4.28B to $5.12B, while imports increased by $118M (6.13%) from $1.92B to $2.04B.

Trade In May 2024, the top exports of South Korea to Vietnam were Electrical machinery and electronics ($2.28B), Mineral fuels, mineral oils and products... ($294M), Plastics & articles thereof ($224M), Machinery, mechanical appliances, & parts ($213M), and Cars, tractors, trucks & parts thereof. ($102M). In May 2024 the top imports of South Korea from Vietnam were Electrical machinery and electronics ($844M), Machinery, mechanical appliances, & parts ($402M), Non-knitted clothing accesories ($252M), Footwear ($132M), and Knitted clothing accesories ($131M).

Growth In May 2024, the increase in South Korea's year-by-year exports to Vietnam was explained primarily by an increase in product exports in Mineral fuels, mineral oils and products... ($169M or 136%), Perfumery & cosmetics ($5.71M or 26.1%), and Fertilizers ($1.89M or 204%). In May 2024, the increase in South Korea's year-by-year imports  from Vietnam was explained primarily by an increase in product imports  in Non-knitted clothing accesories ($58.9M or 30.4%), Machinery, mechanical appliances, & parts ($41.8M or 11.6%), and Footwear ($23M or 21.1%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (May 2023 - May 2024)$846M(19.8%)
IMPORT GROWTH (May 2023 - May 2024)$118M(6.13%)

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

For full datasets download visit Bulk Download page.

Explore Vietnam and South Korea Data

Go to Bulk Download

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $52.2B to Vietnam. The main products exported from South Korea to Vietnam were Integrated Circuits ($15.9B), Broadcasting Equipment ($11.3B), and Refined Petroleum ($3.67B). During the last 5 years the exports of South Korea to Vietnam have increased at an annualized rate of 108%, from $1.35B in 2017 to $52.2B in 2022.

In 2017, Vietnam exported $15.8B to South Korea. The main products exported from Vietnam to South Korea were Telephones ($2.93B), Broadcasting Equipment ($2.91B), and Computers ($1.06B). During the last 22 years the exports of Vietnam to South Korea have increased at an annualized rate of 143%, from $187M in 1995 to $15.8B in 2017.

Exports from South Korea (Flag) to Vietnam (Flag) (2022)

Exports from Vietnam (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Vietnam
Top DestinationUnited States$117B

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

In 2022, countries that imported more from South Korea than Vietnam included China ($150B), Chinese Taipei ($28.4B), and Singapore ($22.5B).

In 2022, countries that imported more from Vietnam than South Korea included United States ($117B), Cambodia ($5.74B), and Netherlands ($9.88B).

Difference in imports from Vietnam (Flag) and South Korea (Flag) (2022)

Comparative Advantage South Korea - Vietnam

Flow
Scale

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

During 2022, South Korea had a large net trade with Vietnam in the exports of Machines ($39.2B), Plastics and Rubbers ($4.36B), and Metals ($3.77B).

During 2017, Vietnam had a large net trade with South Korea in the exports of Machines ($13B), Textiles ($4.39B), and Metals ($1.43B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Vietnam+$158MCars
Top Product Potential Vietnam South Korea+$344MIntegrated Circuits

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 Vietnam. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Vietnam. Similarly, a dot/product with the flag of Vietnam indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and Vietnam (Flag) (2022)

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