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Pricing

2023
Flag → Flag
Exports $76.9MRnk 37 / 200
2023
Flag → Flag
Top Product $8.66MCoconut and Other Vegetable Fibers
2023
Flag → Flag
Exports $210MRnk 76 / 142
2023
Flag → Flag
Top Product $44.9MRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI -0.44Rnk 85 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag  
GDP$84.4BCURRENT US$
Rnk 75 / 195
2013-2023
Flag
GDP GROWTH9.55%CURRENT US$
Rnk 157 / 195
2023
Flag
 GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
GDP PC $3,828CURRENT US$
Rnk 132 / 195
2013-2023
Flag
GDP PC GROWTH2.34%CURRENT US$
Rnk 150 / 195
2023
Flag
GDP PC$33,121CURRENT US$
Rnk 41 / 196
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195

About

Sri Lanka-South Korea Trade: In 2023, Sri Lanka exported $76.9M to South Korea. The main products that Sri Lanka exported to South Korea were Coconut and Other Vegetable Fibers ($8.66M), Non-Knit Women's Suits ($6.93M), and Activated Carbon ($6.25M). Over the past 5 years the exports of Sri Lanka to South Korea have decreased at an annualized rate of 2.6%, from $87.8M in 2018 to $76.9M in 2023.

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

South Korea-Sri Lanka Trade: In 2023, South Korea exported $210M to Sri Lanka. The main products that South Korea exported to Sri Lanka were Refined Petroleum ($44.9M), Synthetic Rubber ($19.1M), and Light Rubberized Knitted Fabric ($14.4M). Over the past 5 years the exports of South Korea to Sri Lanka have decreased at an annualized rate of 5.53%,  from $279M in 2018 to $210M in 2023.

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

Comparison: In 2023,  Sri Lanka ranked 85 in the Economic Complexity Index (ECI -0.44), and 90 in total exports ($13.8B). 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
Value

In 2023, Sri Lanka exported $76.9M to South Korea. The main products exported from Sri Lanka to South Korea were Coconut and Other Vegetable Fibers ($8.66M), Non-Knit Women's Suits ($6.93M), and Activated Carbon ($6.25M). During the last 5 years the exports of Sri Lanka to South Korea have decreased at an annualized rate of 2.6%, from $87.8M in 2018 to $76.9M in 2023.

In 2018, South Korea exported $210M to Sri Lanka. The main products exported from South Korea to Sri Lanka were Refined Petroleum ($44.9M), Synthetic Rubber ($19.1M), and Light Rubberized Knitted Fabric ($14.4M). During the last 5 years the exports of South Korea to Sri Lanka have decreased at an annualized rate of 5.53%, from $279M in 2023 to $210M in 2018.

Exports from Sri Lanka (Flag) to South Korea (Flag) (2023)

Exports from South Korea (Flag) to Sri Lanka (Flag) (2023)

Latest Data

Trade between Sri Lanka (Flag) and South Korea (Flag)

Sri Lanka Exports

Date

South Korea Exports

Market Competitiveness

Color
Sri Lanka
Top DestinationUnited States$2.98B
South Korea
Top DestinationChina$162B

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

In 2023, countries that imported more from Sri Lanka than South Korea included Bangladesh ($177M), Russia ($146M), and Maldives ($168M).

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

Difference in imports from South Korea (Flag) and Sri Lanka (Flag) (2023)

Comparative Advantage Sri Lanka - South Korea

Flow
Scale

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

During 2023, Sri Lanka had a large net trade with South Korea in the exports of Textiles ($35.3M), Plastics and Rubbers ($11.8M), and Chemical Products ($6.6M).

During 2018, South Korea had a large net trade with Sri Lanka in the exports of Textiles ($48.2M), Mineral Products ($45.8M), and Plastics and Rubbers ($40.7M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Sri Lanka South Korea+$10.1MNon-Knit Women's Suits
Top Product Potential South Korea Sri Lanka+$30.7MRefined 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

This visualization shows the product space at the HS4 level with the flags of Sri Lanka and South Korea. This means that a dot/product with the flag of Sri Lanka 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 Sri Lanka.

Product Space of Sri Lanka (Flag) and South Korea (Flag) (2023)

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