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2023
Flag → Flag
Exports $972MRnk 41 / 142
2023
Flag → Flag
Top Product $126MCars
2023
Flag → Flag
Exports $2.05BRnk 18 / 211
2023
Flag → Flag
Top Product $676MCoal Briquettes
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 0.07Rnk 59 / 132
2023
Flag  
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$381BCURRENT US$
Rnk 40 / 195
2013-2023
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GDP GROWTH-5.04%CURRENT US$
Rnk 177 / 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$6,023CURRENT US$
Rnk 113 / 196
2013-2023
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GDP PC GROWTH-17.9%CURRENT US$
Rnk 178 / 195

About

South Korea-South Africa Trade: In 2023, South Korea exported $972M to South Africa. The main products that South Korea exported to South Africa were Cars ($126M), Refined Petroleum ($92.9M), and Large Construction Vehicles ($46.7M). Over the past 5 years the exports of South Korea to South Africa have decreased at an annualized rate of 1.73%, from $1.06B in 2018 to $972M in 2023.

In 2005, South Korea exported services to South Africa worth $94.6M, with Transportation ($80.7M), Travel ($6.9M), and Other business services ($4.1M) being the largest in terms of value.

South Africa-South Korea Trade: In 2023, South Africa exported $2.05B to South Korea. The main products that South Africa exported to South Korea were Coal Briquettes ($676M), Iron Ore ($514M), and Cars ($179M). Over the past 5 years the exports of South Africa to South Korea have decreased at an annualized rate of 1.39%,  from $2.6B in 2018 to $2.05B in 2023.

In 2023, South Africa 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, South Africa ranked 59 in the Economic Complexity Index (ECI 0.07), and 34 in total exports ($154B).

Latest Trends

January, 2025

About

Overview In January 2025, South Korea exported $39.7M and imported $263M from South Africa, resulting in a negative trade balance of $224M. Between January 2024 and January 2025 the exports of South Korea have decreased by $-19.4M (-32.8%) from $59.1M to $39.7M, while imports increased by $47.9M (22.3%) from $215M to $263M.

Trade In January 2025, the top exports of South Korea to South Africa were Cars, tractors, trucks & parts thereof. ($9.84M), Machinery, mechanical appliances, & parts ($9.08M), Electrical machinery and electronics ($7.2M), Plastics & articles thereof ($7M), and Mineral fuels, mineral oils and products... ($4.54M). In January 2025 the top imports of South Korea from South Africa were Mineral fuels, mineral oils and products... ($77.5M), Precious stones, metals, & pearls ($39.8M), Cars, tractors, trucks & parts thereof. ($37.3M), Ores, slag and ash ($34.8M), and Iron & steel ($5.19M).

Growth In January 2025, the decrease in South Korea's year-by-year exports to South Africa was explained primarily by an decrease in product exports in Cars, tractors, trucks & parts thereof. ($-14.6M or -59.8%), Machinery, mechanical appliances, & parts ($-4.04M or -30.8%), and Mineral fuels, mineral oils and products... ($-2.97M or -39.6%). In January 2025, the increase in South Korea's year-by-year imports  from South Africa was explained primarily by an increase in product imports  in Precious stones, metals, & pearls ($6.55M or 19.7%), Cars, tractors, trucks & parts thereof. ($5.03M or 15.6%), and Nickel articles ($832k or 141%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (January 2024 - January 2025)$-19.4M(-32.8%)
IMPORT GROWTH (January 2024 - January 2025)$47.9M(22.3%)

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

For full datasets download visit Bulk Download page.

Explore South Africa and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $972M to South Africa. The main products exported from South Korea to South Africa were Cars ($126M), Refined Petroleum ($92.9M), and Large Construction Vehicles ($46.7M). During the last 5 years the exports of South Korea to South Africa have decreased at an annualized rate of 1.73%, from $1.06B in 2018 to $972M in 2023.

In 2018, South Africa exported $2.05B to South Korea. The main products exported from South Africa to South Korea were Coal Briquettes ($676M), Iron Ore ($514M), and Cars ($179M). During the last 5 years the exports of South Africa to South Korea have decreased at an annualized rate of 1.39%, from $2.6B in 2023 to $2.05B in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
South Africa
Top DestinationChina$29.5B

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

In 2023, countries that imported more from South Korea than South Africa included China ($162B), United States ($118B), and Chinese Taipei ($28.2B).

In 2023, countries that imported more from South Africa than South Korea included Mozambique ($6.13B), Botswana ($4.28B), and Zimbabwe ($3.47B).

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

Comparative Advantage South Korea - South Africa

Flow
Scale

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

During 2023, South Korea had a large net trade with South Africa in the exports of Machines ($255M), Transportation ($195M), and Mineral Products ($123M).

During 2018, South Africa had a large net trade with South Korea in the exports of Mineral Products ($1.33B), Transportation ($202M), and Vegetable Products ($169M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea South Africa+$154MRefined Petroleum
Top Product Potential South Africa South Korea+$104MCoal Briquettes

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

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

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