2023
Flag  
GDP
$79.8BCURRENT US$
Rnk 78 / 195
2013-2023
Flag
GDP GROWTH
72.3%CURRENT US$
Rnk 39 / 195
2023
Flag
 GDP
$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH
25%CURRENT US$
Rnk 127 / 195
2023
Flag
GDP PC 
$27,786CURRENT US$
Rnk 49 / 195
2013-2023
Flag
GDP PC GROWTH
77.5%CURRENT US$
Rnk 18 / 195
2023
Flag
GDP PC
$33,121CURRENT US$
Rnk 41 / 196
2013-2023
Flag
GDP PC GROWTH
21.9%CURRENT US$
Rnk 99 / 195

About

Lithuania-South Korea Trade: In 2023, Lithuania exported $87.5M to South Korea. The main products that Lithuania exported to South Korea were Sawn Wood ($15.6M), Other Plastic Products ($11M), and LCDs ($9.19M). Over the past 5 years the exports of Lithuania to South Korea have increased at an annualized rate of 0.59%, from $85M in 2018 to $87.5M in 2023.

In 2020, Lithuania exported services to South Korea worth $1.48M, with Transportation ($685k), Other business services ($571k), and Travel ($114k) being the largest in terms of value.

South Korea-Lithuania Trade: In 2023, South Korea exported $117M to Lithuania. The main products that South Korea exported to Lithuania were Polycarboxylic Acids ($19.5M), Refined Petroleum ($12M), and Other Plastic Products ($7.19M). Over the past 5 years the exports of South Korea to Lithuania have increased at an annualized rate of 2.07%,  from $106M in 2018 to $117M in 2023.

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

Comparison: In 2023,  Lithuania ranked 32 in the Economic Complexity Index (ECI 0.85), and 63 in total exports ($41B). 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, Lithuania exported $87.5M to South Korea. The main products exported from Lithuania to South Korea were Sawn Wood ($15.6M), Other Plastic Products ($11M), and LCDs ($9.19M). During the last 5 years the exports of Lithuania to South Korea have increased at an annualized rate of 0.59%, from $85M in 2018 to $87.5M in 2023.

In 2018, South Korea exported $117M to Lithuania. The main products exported from South Korea to Lithuania were Polycarboxylic Acids ($19.5M), Refined Petroleum ($12M), and Other Plastic Products ($7.19M). During the last 5 years the exports of South Korea to Lithuania have increased at an annualized rate of 2.07%, from $106M in 2023 to $117M in 2018.

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

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

Latest Data

Trade between Lithuania (Flag) and South Korea (Flag)

Lithuania Exports

South Korea Exports

Market Competitiveness

Color
Lithuania
Top Destination
Latvia$4.44B
South Korea
Top Destination
China$162B

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

In 2023, countries that imported more from Lithuania than South Korea included Latvia ($4.44B), Russia ($2.32B), and Belarus ($1.84B).

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

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

Comparative Advantage Lithuania - South Korea

Flow
Scale

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

During 2023, Lithuania had a large net trade with South Korea in the exports of Wood Products ($17.1M), Instruments ($13.3M), and Plastics and Rubbers ($11.8M).

During 2018, South Korea had a large net trade with Lithuania in the exports of Chemical Products ($35.2M), Plastics and Rubbers ($25.7M), and Machines ($15.8M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Lithuania South Korea+$5.3MRefined Petroleum
Top Product Potential South Korea Lithuania+$10.3MCars

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 Lithuania and South Korea. This means that a dot/product with the flag of Lithuania 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 Lithuania.

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

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