Flag Saudi Arabia / South Korea Flag

2019
FlagFlag
Exports
: $19.5B, Rnk 4 / 179

2019
FlagFlag
Top Product
: $17.5B, Crude Petroleum

2019
FlagFlag
Exports
: $3.94B, Rnk 24 / 215

2019
FlagFlag
Top Product
: $1.39B, Cars

2019
Flag
Economic Complexity (ECI)
: ECI 0.94, Rnk 33 / 146

2019
Flag
Economic Complexity (ECI)
: ECI 1.9, Rnk 5 / 146

2019
Flag  
GDP
: $793B, CURRENT US$
Rnk 18 / 187

2009-2019
Flag
GDP GROWTH
: 84.8%, CURRENT US$
Rnk 40 / 187

2019
Flag
 GDP
: $1.65T, CURRENT US$
Rnk 12 / 187

2009-2019
Flag
GDP GROWTH
: 74.5%, CURRENT US$
Rnk 52 / 187

2019
Flag
GDP PC 
: $23,140, CURRENT US$
Rnk 43 / 187

2009-2019
Flag
GDP PC GROWTH
: 43.6%, CURRENT US$
Rnk 68 / 187

2019
Flag
GDP PC
: $31,846, CURRENT US$
Rnk 32 / 187

2009-2019
Flag
GDP PC GROWTH
: 66.4%, CURRENT US$
Rnk 36 / 187

Saudi Arabia-South Korea In 2019, Saudi Arabia exported $19.5B to South Korea. The main products that Saudi Arabia exported to South Korea are Crude Petroleum ($17.5B), Refined Petroleum ($967M), and Acyclic Alcohols ($229M). During the last 24 years the exports of Saudi Arabia to South Korea have increased at an annualized rate of 6.06%, from $4.76B in 1995 to $19.5B in 2019.

In 2019, Saudi Arabia did not export any services to South Korea.

South Korea-Saudi Arabia In 2019, South Korea exported $3.94B to Saudi Arabia . The main products that South Korea exported to Saudi Arabia were Cars ($1.39B), Rubber Tires ($181M), and Other Heating Machinery ($95.7M). During the last 24 years the exports of South Korea to Saudi Arabia have increased at an annualized rate of 4.81%, from $1.27B in 1995 to $3.94B in 2019.

In 2005, South Korea exported services to Saudi Arabia worth $681M, with Services not allocated ($541M), Transportation ($121M), and Other business services ($14.5M) being the largest in terms of value.

Comparison In 2019,  Saudi Arabia ranked 33 in the Economic Complexity Index (ECI 0.94), and 26 in total exports ($228B). That same year, South Korea ranked 5 in the Economic Complexity Index (ECI 1.9), and 6 in total exports ($555B).

Historical Data

#permalink to section

Bilateral Trade by Products

#permalink to section
Depth
Value
Compare to

In 2019, Saudi Arabia exported $19.5B to South Korea. The main products exported from Saudi Arabia to South Korea were Crude Petroleum ($17.5B), Refined Petroleum ($967M), and Acyclic Alcohols ($229M). During the last 24 years the exports of Saudi Arabia to South Korea have increased at an annualized rate of 6.06%, from $4.76B in 1995 to $19.5B in 2019.

In 2019, South Korea exported $3.94B to Saudi Arabia. The main products exported from South Korea to Saudi Arabia were Cars ($1.39B), Rubber Tires ($181M), and Other Heating Machinery ($95.7M). During the last 24 years the exports of South Korea to Saudi Arabia have increased at an annualized rate of 4.81%, from $1.27B in 1995 to $3.94B in 2019.

Saudi Arabia Exports

#permalink to section

South Korea Exports

#permalink to section

Market Competitiveness

#permalink to section
Measure

Saudi Arabia
Top Destination
: China, $45.8B

South Korea
Top Destination
: China, $136B

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

In 2019, countries that imported more from Saudi Arabia than South Korea were India ($25.1B), Egypt ($5.05B), and United Arab Emirates ($6.6B).

In 2019, countries that imported more from South Korea than Saudi Arabia were China ($136B), United States ($74.8B), and Vietnam ($47.8B).

Comparative Advantage Saudi Arabia - South Korea

#permalink to section
Depth

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

During 2019, Saudi Arabia had a large net trade with South Korea in the exports of Mineral Products ($18.6B), Chemical Products ($533M), and Metals ($252M).

During 2019, South Korea had a large net trade with Saudi Arabia in the exports of Transportation ($1.54B), Machines ($873M), and Metals ($481M).

Tariff Section

#permalink to section

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

In 2017, the products from Saudi Arabia that paid the highest import tariffs to enter South Korea were Tobacco refuse (1.37k%) and Homogenized or reconstituted tobacco (585%).

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

*The tariffs present between Saudi Arabia and South Korea are:
136: Most Favoured Nation duty rate treatement

Bilateral Service Trade

#permalink to section

In 2005, South Korea exported services to Saudi Arabia worth $681M, with Services not allocated ($541M), Transportation ($121M), and Other business services ($14.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

#permalink to section

Competitive Landscape

#permalink to section

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 Saudi Arabia has comparative advantage over South Korea. Similarly, the more red a dot/product is, the more South Korea has comparative advantage over Saudi Arabia.