Libya (LBY) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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Libya-South Korea Trade: In 2022, Libya exported $90.9M to South Korea. The main products that Libya exported to South Korea were N/A. Over the past 5 years the exports of Libya to South Korea have decreased at an annualized rate of 10.8%, from $161M in 2017 to $90.9M in 2022.

In 2022, Libya did not export any services to South Korea.

South Korea-Libya Trade: In 2022, South Korea exported $367M to Libya. The main products that South Korea exported to Libya were N/A. Over the past 5 years the exports of South Korea to Libya have increased at an annualized rate of 4.63%, from $280M in 2017 to $367M in 2022.

In 2022, South Korea did not export any services to Libya.

Comparison: In 2023, Libya ranked 102 in the Economic Complexity Index (ECI -0.84), and 67 in total exports ($35.4B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Libya exported $90.9M to South Korea. There were not main exports from Libya to South Korea in 2022. During the last 5 years the exports of Libya to South Korea have decreased at an annualized rate of 10.8%, from $161M in 2017 to $90.9M in 2022.

In 2017, South Korea exported $367M to Libya. There were not main exports from South Korea to Libya in 2017. During the last 5 years the exports of South Korea to Libya have increased at an annualized rate of 4.63%, from $280M in 2022 to $367M in 2017.

Exports from Libya () to South Korea () (2022)

Exports from South Korea () to Libya () (2022)

Latest Data

Trade between Libya () and South Korea ()

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Libya
Top DestinationItaly$7.96B

South Korea
Top DestinationChina$162B

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

In 2023, countries that imported more from Libya than South Korea included Italy ($7.96B), Greece ($2.2B), and Romania ($657M).

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

Difference in imports from South Korea () and Libya () (2023)

Comparative Advantage Libya - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Libya had a large net trade with South Korea in the exports of .

During 2017, South Korea had a large net trade with Libya in the exports of .

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Libya South Korea+$15.9MRefined Petroleum

Top Product Potential South Korea Libya+$15.5MRefined 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.

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Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Libya () to South Korea () (2022)

Exports from South Korea () to Libya () (2022)

Latest Data

Trade between Libya () and South Korea ()

South Korea Exports

Market Competitiveness

Difference in imports from South Korea () and Libya () (2023)

Comparative Advantage Libya - South Korea

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Libya () and South Korea () (2022)

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