Netherlands (NLD) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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Netherlands-South Korea In 2022, Netherlands exported $9.11B to South Korea. The main products that Netherlands exported to South Korea are Machinery Having Individual Functions ($5.69B), Radioactive Chemicals ($245M), and Pig Meat ($199M). During the last 27 years the exports of Netherlands to South Korea have increased at an annualized rate of 8.23%, from $1.08B in 1995 to $9.11B in 2022.

In 2020, Netherlands exported services to South Korea worth $750M, with Computer and information services ($270M), Other business services ($199M), and Transportation ($172M) being the largest in terms of value.

South Korea-Netherlands In 2022, South Korea exported $8.07B to Netherlands. The main products that South Korea exported to Netherlands were Refined Petroleum ($2.01B), Blank Audio Media ($576M), and Cars ($541M). During the last 27 years the exports of South Korea to Netherlands have increased at an annualized rate of 6.46%, from $1.49B in 1995 to $8.07B in 2022.

In 2005, South Korea exported services to Netherlands worth $444M, with Transportation ($249M), Other business services ($106M), and Services not allocated ($56.6M) being the largest in terms of value.

Comparison In 2022, Netherlands ranked 20 in the Economic Complexity Index (ECI 1.1), and 6 in total exports ($674B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B).

Latest Trends

October, 2022

About

Overview In October 2022, Netherlands exported €593M and imported €650M from South Korea, resulting in a negative trade balance of €57M. Between October 2021 and October 2022 the exports of Netherlands have increased by €263M (79.7%) from €330M to €593M, while imports increased by €196M (43.2%) from €454M to €650M.

Trade In October 2022, the top exports of Netherlands to South Korea were Other machinery and equipment specialized for... (€396M), Telecommunications equipment, n.e.s., and parts, n.e.s.,... (€17M), Medicaments (including veterinary medicaments) (€13M), Thermionic, cold cathode or photo-cathode valves... (€13M), and Motor cars and other motor vehicles... (€12M). In October 2022 the top imports of Netherlands from South Korea were Medicinal and pharmaceutical products, other than... (€82M), Thermionic, cold cathode or photo-cathode valves... (€52M), Petroleum oils and oils obtained from... (€35M), Civil engineering and contractors' plant and... (€33M), and Motor cars and other motor vehicles... (€20M).

Growth In October 2022, the increase in Netherlands's year-by-year exports to South Korea was explained primarily by an increase in product exports in Other machinery and equipment specialized for... (€306M or 340%), Telecommunications equipment, n.e.s., and parts, n.e.s.,... (€10M or 143%), and Ores and concentrates of base metals,... (€4M or 200%). In October 2022, the increase in Netherlands's year-by-year imports from South Korea was explained primarily by an increase in product imports in Petroleum oils and oils obtained from... (€7M or 25%), Automatic data-processing machines and units thereof;... (€7M or 58.3%), and Musical instruments and parts and accessories... (€3M or 150%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (October 2021 - October 2022)€263M(79.7%)

IMPORT GROWTH (October 2021 - October 2022)€196M(43.2%)

This section shows exports and imports data at subnational level for Netherlands. Click any date in the line plot or any product to explore the exports or imports behavior of Netherlands over time.

To check South Korea and Netherlands trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Netherlands exported $9.11B to South Korea. The main products exported from Netherlands to South Korea were Machinery Having Individual Functions ($5.69B), Radioactive Chemicals ($245M), and Pig Meat ($199M). During the last 27 years the exports of Netherlands to South Korea have increased at an annualized rate of 8.23%, from $1.08B in 1995 to $9.11B in 2022.

In 2022, South Korea exported $8.07B to Netherlands. The main products exported from South Korea to Netherlands were Refined Petroleum ($2.01B), Blank Audio Media ($576M), and Cars ($541M). During the last 27 years the exports of South Korea to Netherlands have increased at an annualized rate of 6.46%, from $1.49B in 1995 to $8.07B in 2022.

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

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

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Netherlands
Top DestinationGermany$131B

South Korea
Top DestinationChina$150B

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

In 2021, countries that imported more from Netherlands than South Korea were Germany ($131B), Belgium ($94.3B), and France ($59.9B).

In 2021, countries that imported more from South Korea than Netherlands were China ($150B), United States ($112B), and Vietnam ($60.7B).

Difference in imports from South Korea () and Netherlands () (2022)

Comparative Advantage Netherlands - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Netherlands had a large net trade with South Korea in the exports of Machines ($6.36B), Chemical Products ($780M), and Animal Products ($497M).

During 2022, South Korea had a large net trade with Netherlands in the exports of Machines ($2.76B), Mineral Products ($2.04B), and Chemical Products ($886M).

Service Trade

Bilateral Service Trade

Nld Year

In 2020, Netherlands exported services to South Korea worth $750M, with Computer and information services ($270M), Other business services ($199M), and Transportation ($172M) being the largest in terms of value.

In 2005, South Korea exported services to Netherlands worth $444M, with Transportation ($249M), Other business services ($106M), and Services not allocated ($56.6M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Netherlands () to South Korea () (2020)

Services Exports from South Korea () to Netherlands () (2005)

Economic Complexity

Competitive Landscape

Year

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

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

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

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

Market Competitiveness

Difference in imports from South Korea () and Netherlands () (2022)

Comparative Advantage Netherlands - South Korea

Service Trade

Bilateral Service Trade

Services Exports from Netherlands () to South Korea () (2020)

Services Exports from South Korea () to Netherlands () (2005)

Economic Complexity

Competitive Landscape

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

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