Flag Vietnam / South Korea Flag

Exports Flag β†’ Flag  (2018): $19.4B, Rnk 4 / 126

Top Product Flag β†’ Flag (2018): $3.31B, Telephones

Exports Flag β†’ Flag (2018): $48.6B, Rnk 3 / 210

Top Product Flag β†’ Flag (2018): $10B, Integrated Circuits

Economic Complexity of Flag (2018): ECI -0.28, Rnk 81 / 137

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

GDP Flag (2018): $245B, CURRENT US$
Rnk 45 / 196

GDP GROWTH Flag (2008-2018): 147%, CURRENT US$
Rnk 10 / 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): $2,567, CURRENT US$
Rnk 141 / 196

GDP PC GROWTH Flag (2008-2018): 123%, CURRENT US$
Rnk 8 / 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

Vietnam-South Korea: In 2018, Vietnam exported $19.4B to South Korea. The main products exported from Vietnam to South Korea were Telephones ($3.31B), Broadcasting Equipment ($1.14B), and Broadcasting Accessories ($757M). During the last 23 years the exports of Vietnam to South Korea have increased at an annualized rate of 22.3%, from $189M in 1995 to $19.4B in 2018.

South Korea-Vietnam: In 2018, South Korea exported $48.6B to Vietnam. The main products exported from South Korea to Vietnam were Integrated Circuits ($10B), Electrical Parts ($4.2B), and Telephones ($3.16B). During the last 23 years the exports of South Korea to Vietnam have increased at an annualized rate of 16.9%, from $1.35B in 1995 to $48.6B in 2018. In 2005, South Korea exported services to Vietnam worth $385M, with Transportation ($257M), Other business services ($39.4M), and Travel ($38.7M) being the largest in terms of value.

Comparison: In 2018, Vietnam ranked 81 in the Economic Complexity Index (ECI -0.28), and 19 in total exports ($274B). 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, Vietnam was ranked 141 with a GDP Per Capita of $2,567, 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, Vietnam exported $19.4B to South Korea. The main products exported from Vietnam to South Korea were Telephones ($3.31B), Broadcasting Equipment ($1.14B), and Broadcasting Accessories ($757M). During the last 23 years the exports of Vietnam to South Korea have increased at an annualized rate of 22.3%, from $189M in 1995 to $19.4B in 2018.

In 2018, South Korea exported $48.6B to Vietnam. The main products exported from South Korea to Vietnam were Integrated Circuits ($10B), Electrical Parts ($4.2B), and Telephones ($3.16B). During the last 23 years the exports of South Korea to Vietnam have increased at an annualized rate of 16.9%, from $1.35B in 1995 to $48.6B in 2018.

Market Competitiveness

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Measure

Vietnam
Top Destination
: China, $53.8B

South Korea
Top Destination
: China, $160B

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

In 2018, countries that imported more from Vietnam than South Korea were United Arab Emirates ($7.63B), France ($6.09B), and Slovakia ($5.4B).

In 2018, countries that imported more from South Korea than Vietnam were China ($160B), Hong Kong ($44.5B), and United States ($73.1B).

Comparative Advantage Vietnam - South Korea

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Depth

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

During 2018, Vietnam had a large net trade with South Korea in the exports of Machines ($8.58B), Textiles ($4.28B), and Footwear and Headwear ($1.04B).

During 2018, South Korea had a large net trade with Vietnam in the exports of Machines ($27.9B), Instruments ($4.26B), and Metals ($3.57B).

Tariff Section

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

In 2018, the products from Vietnam that paid the highest import tariffs to enter South Korea were Cigars, cheroots and cigarillos, containing tobacco (100%) and Cigarettes containing tobacco (100%).

In 2018, the products from South Korea that paid the highest import tariffs to enter Vietnam were Manioc (cassava), fresh or dried (719%) and Manioc (cassava), fresh or dried (710%).

Explore Tariff Data

*The tariffs present between Vietnam and South Korea are:
136: Most Favoured Nation duty rate treatement
139: Non-MFN duty rate for countries excluded from Most-Favoured- Nation (MFN) treatement
249: Preferential tariff for Korea, Republic of
391: Vietnam Preferences for ASEAN for the republic of Korea

Trade Forecasts

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This section shows a forecast for total trade between Vietnam 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 2005, South Korea exported services to Vietnam worth $385M, with Transportation ($257M), Other business services ($39.4M), and Travel ($38.7M) 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 Vietnam has comparative advantage over South Korea. Similarly, the more red a dot/product is, the more South Korea has comparative advantage over Vietnam.