Flag Russia / South Korea Flag

Exports Flag β†’ Flag  (2018): $17.9B, Rnk 6 / 187

Top Product Flag β†’ Flag (2018): $8.08B, Crude Petroleum

Exports Flag β†’ Flag (2018): $7.44B, Rnk 16 / 210

Top Product Flag β†’ Flag (2018): $1.91B, Cars

Economic Complexity of Flag (2018): ECI 0.6, Rnk 41 / 137

Economic Complexity of Flag (2018): ECI 1.85, Rnk 5 / 137

GDP Flag (2018): $1.66T, CURRENT US$
Rnk 11 / 196

GDP GROWTH Flag (2008-2018): -0.2%, CURRENT US$
Rnk 168 / 196

GDP Flag (2018): $1.62T, CURRENT US$
Rnk 12 / 196

GDP GROWTH Flag (2008-2018): 61.6%, CURRENT US$
Rnk 69 / 196

GDP PC Flag (2018): $11,289, CURRENT US$
Rnk 69 / 196

GDP PC GROWTH Flag (2008-2018): -2.98%, CURRENT US$
Rnk 157 / 196

GDP PC Flag (2018): $31,363, CURRENT US$
Rnk 34 / 196

GDP PC GROWTH Flag (2008-2018): 53.5%, CURRENT US$
Rnk 42 / 196

Russia-South Korea: In 2018, Russia exported $17.9B to South Korea. The main products exported from Russia to South Korea were Crude Petroleum ($8.08B), Refined Petroleum ($2.94B), and Coal Briquettes ($2.61B). During the last 23 years the exports of Russia to South Korea have increased at an annualized rate of 10.6%, from $1.76B in 1995 to $17.9B in 2018. In 2018, Russia exported services to South Korea worth $709M, with Transportation ($271M), Travel ($226M), and Other business services ($141M) being the largest in terms of value.

South Korea-Russia: In 2018, South Korea exported $7.44B to Russia. The main products exported from South Korea to Russia were Cars ($1.91B), Vehicle Parts ($1.05B), and Large Construction Vehicles ($174M). During the last 23 years the exports of South Korea to Russia have increased at an annualized rate of 7.48%, from $1.42B in 1995 to $7.44B in 2018. In 2005, South Korea exported services to Russia worth $465M, with Transportation ($297M), Travel ($86.9M), and Other business services ($45.1M) being the largest in terms of value.

Comparison: In 2018, Russia ranked 41 in the Economic Complexity Index (ECI 0.6), and 13 in total exports ($427B). That same year, South Korea ranked 5 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($617B). In terms of GDP Per Capita, Russia was ranked 69 with a GDP Per Capita of $11,289, and South Korea was ranked 34 with a GDP Per Capita of $31,363.

Bilateral Trade by Products

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Depth
Value

In 2018, Russia exported $17.9B to South Korea. The main products exported from Russia to South Korea were Crude Petroleum ($8.08B), Refined Petroleum ($2.94B), and Coal Briquettes ($2.61B). During the last 23 years the exports of Russia to South Korea have increased at an annualized rate of 10.6%, from $1.76B in 1995 to $17.9B in 2018.

In 2018, South Korea exported $7.44B to Russia. The main products exported from South Korea to Russia were Cars ($1.91B), Vehicle Parts ($1.05B), and Large Construction Vehicles ($174M). During the last 23 years the exports of South Korea to Russia have increased at an annualized rate of 7.48%, from $1.42B in 1995 to $7.44B in 2018.

Market Competitiveness

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Measure

Russia
Top Destination
: China, $55.2B

South Korea
Top Destination
: China, $160B

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

In 2018, countries that imported more from Russia than South Korea were Netherlands ($41B), Belarus ($21.6B), and Italy ($18.9B).

In 2018, countries that imported more from South Korea than Russia were China ($160B), United States ($73.1B), and Vietnam ($48.6B).

Comparative Advantage Russia - South Korea

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Depth

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

During 2018, Russia had a large net trade with South Korea in the exports of Mineral Products ($14.7B), Animal Products ($1.16B), and Metals ($719M).

During 2018, South Korea had a large net trade with Russia in the exports of Transportation ($3.09B), Machines ($1.69B), and Plastics and Rubbers ($695M).

Tariff Section

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This sections shows import tariffs for products traded between Russia and South Korea (using the HS6 product classification and the last year reported).

In 2018, the products from Russia that paid the highest import tariffs to enter South Korea were Undenatured ethyl alcohol > 80% by volume (100%) and Ethyl alcohol and other spirits, denatured (100%).

In 2018, the products from South Korea that paid the highest import tariffs to enter Russia were Cereals: fonio (Digitaria spp.) (800%) and Cereals: quinoa (Chenopodium quinoa) (800%).

Explore Tariff Data

*The tariffs present between Russia and South Korea are:
136: Most Favoured Nation duty rate treatement
350: Russian Generalized System of Preference

Trade Forecasts

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This section shows a forecast for total trade between Russia and South Korea. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

Explore Forecasts

Bilateral Service Trade

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In 2018, Russia exported services to South Korea worth $709M, with Transportation ($271M), Travel ($226M), and Other business services ($141M) being the largest in terms of value.

In 2005, South Korea exported services to Russia worth $465M, with Transportation ($297M), Travel ($86.9M), and Other business services ($45.1M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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