Oman (OMN) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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Oman-South Korea Trade: In 2022, Oman exported $4.64B to South Korea. The main products that Oman exported to South Korea were Petroleum Gas ($4.05B), Crude Petroleum ($357M), and Acyclic Alcohols ($101M). Over the past 5 years the exports of Oman to South Korea have increased at an annualized rate of 17.4%, from $2.08B in 2017 to $4.64B in 2022.

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

South Korea-Oman Trade: In 2022, South Korea exported $378M to Oman. The main products that South Korea exported to Oman were Polycarboxylic Acids ($80.6M), Hot-Rolled Iron ($56.5M), and Cars ($34.3M). Over the past 5 years the exports of South Korea to Oman have decreased at an annualized rate of 11.1%, from $682M in 2017 to $378M in 2022.

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

Comparison: In 2022, Oman ranked 75 in the Economic Complexity Index (ECI -0.19), and 50 in total exports ($76.4B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Oman exported $4.64B to South Korea. The main products exported from Oman to South Korea were Petroleum Gas ($4.05B), Crude Petroleum ($357M), and Acyclic Alcohols ($101M). During the last 5 years the exports of Oman to South Korea have increased at an annualized rate of 17.4%, from $2.08B in 2017 to $4.64B in 2022.

In 2017, South Korea exported $378M to Oman. The main products exported from South Korea to Oman were Polycarboxylic Acids ($80.6M), Hot-Rolled Iron ($56.5M), and Cars ($34.3M). During the last 5 years the exports of South Korea to Oman have decreased at an annualized rate of 11.1%, from $682M in 2022 to $378M in 2017.

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

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

Latest Data

Trade between Oman () and South Korea ()

Oman Exports

Date

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Oman
Top DestinationChina$30.4B

South Korea
Top DestinationChina$150B

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

In 2022, countries that imported more from Oman than South Korea included Qatar ($1.09B), Mauritius ($544M), and Iran ($539M).

In 2022, countries that imported more from South Korea than Oman included China ($150B), United States ($112B), and Vietnam ($60.7B).

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

Comparative Advantage Oman - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Oman had a large net trade with South Korea in the exports of Mineral Products ($4.43B), Chemical Products ($126M), and Metals ($36.5M).

During 2017, South Korea had a large net trade with Oman in the exports of Machines ($94.1M), Chemical Products ($93.7M), and Metals ($75.2M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Oman South Korea+$511MCrude Petroleum

Top Product Potential South Korea Oman+$35.5MCars

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

About

Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Oman () and South Korea ()

Oman Exports

South Korea Exports

Market Competitiveness

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

Comparative Advantage Oman - South Korea

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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