Flag South Korea / Vietnam Flag

2019
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Exports
: $47.8B, Rnk 3 / 215

2019
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Top Product
: $9.9B, Integrated Circuits

2019
FlagFlag
Exports
: $20.3B, Rnk 4 / 140

2019
FlagFlag
Top Product
: $4.1B, Telephones

2019
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Economic Complexity (ECI)
: ECI 1.9, Rnk 5 / 146

2019
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Economic Complexity (ECI)
: ECI 0.066, Rnk 65 / 146

2019
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GDP
: $1.65T, CURRENT US$
Rnk 12 / 187

2009-2019
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GDP GROWTH
: 74.5%, CURRENT US$
Rnk 52 / 187

2019
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 GDP
: $262B, CURRENT US$
Rnk 44 / 187

2009-2019
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GDP GROWTH
: 147%, CURRENT US$
Rnk 13 / 187

2019
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GDP PC 
: $31,846, CURRENT US$
Rnk 32 / 187

2009-2019
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GDP PC GROWTH
: 66.4%, CURRENT US$
Rnk 36 / 187

2019
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GDP PC
: $2,715, CURRENT US$
Rnk 134 / 187

2009-2019
Flag
GDP PC GROWTH
: 123%, CURRENT US$
Rnk 10 / 187

South Korea-Vietnam In 2019, South Korea exported $47.8B to Vietnam. The main products that South Korea exported to Vietnam are Integrated Circuits ($9.9B), Telephones ($7.02B), and Broadcasting Accessories ($2.33B). During the last 24 years the exports of South Korea to Vietnam have increased at an annualized rate of 16%, from $1.35B in 1995 to $47.8B in 2019.

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 In 2019, Vietnam exported $20.3B to South Korea . The main products that Vietnam exported to South Korea were Telephones ($4.1B), Broadcasting Equipment ($1.29B), and Broadcasting Accessories ($866M). During the last 24 years the exports of Vietnam to South Korea have increased at an annualized rate of 21.6%, from $187M in 1995 to $20.3B in 2019.

In 2019, Vietnam did not export any services to South Korea.

Comparison In 2019,  South Korea ranked 5 in the Economic Complexity Index (ECI 1.9), and 6 in total exports ($555B). That same year, Vietnam ranked 65 in the Economic Complexity Index (ECI 0.066), and 20 in total exports ($280B).

Historical Data

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Bilateral Trade by Products

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Depth
Value
Compare to

In 2019, South Korea exported $47.8B to Vietnam. The main products exported from South Korea to Vietnam were Integrated Circuits ($9.9B), Telephones ($7.02B), and Broadcasting Accessories ($2.33B). During the last 24 years the exports of South Korea to Vietnam have increased at an annualized rate of 16%, from $1.35B in 1995 to $47.8B in 2019.

In 2019, Vietnam exported $20.3B to South Korea. The main products exported from Vietnam to South Korea were Telephones ($4.1B), Broadcasting Equipment ($1.29B), and Broadcasting Accessories ($866M). During the last 24 years the exports of Vietnam to South Korea have increased at an annualized rate of 21.6%, from $187M in 1995 to $20.3B in 2019.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $136B

Vietnam
Top Destination
: United States, $63.7B

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 2019, countries that imported more from South Korea than Vietnam were China ($136B), Hong Kong ($31.6B), and Chinese Taipei ($16.2B).

In 2019, countries that imported more from Vietnam than South Korea were Cambodia ($4.37B), Netherlands ($6.86B), and United Arab Emirates ($5.53B).

Comparative Advantage South Korea - Vietnam

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Depth

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

During 2019, South Korea had a large net trade with Vietnam in the exports of Machines ($27.9B), Metals ($3.68B), and Plastics and Rubbers ($3.37B).

During 2019, Vietnam had a large net trade with South Korea in the exports of Machines ($10.3B), Textiles ($4.19B), and Footwear and Headwear ($894M).

Tariff Section

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This section shows import tariffs for products traded between South Korea and Vietnam (using the HS6 product classification and the last year reported).

In 2018, the products from South Korea that paid the highest import tariffs to enter Vietnam were Manioc (cassava), fresh or dried (719%)and Manioc (cassava), fresh or dried (710%).

In 2019, the products from Vietnam that paid the highest import tariffs to enter South Korea were Cigars, cheroots and cigarillos, containing tobacco (100%)and Cigarettes containing tobacco (100%).

*The tariffs present between South Korea and Vietnam are:
84: Association of Southeast Asian Nations (ASEAN ) Free Trade Area
136: Most Favoured Nation duty rate treatement
333: Preferential tariff for Vietnam

Bilateral Service Trade

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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.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more South Korea has comparative advantage over Vietnam. Similarly, the more red a dot/product is, the more Vietnam has comparative advantage over South Korea.