2022
Flag  
GDP
$406BCURRENT US$
Rnk 37 / 186
2012-2022
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GDP GROWTH
-6.57%CURRENT US$
Rnk 171 / 186
2022
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 GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH
30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC 
$6,776CURRENT US$
Rnk 95 / 186
2012-2022
Flag
GDP PC GROWTH
-17.1%CURRENT US$
Rnk 167 / 186
2022
Flag
GDP PC
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186

About

South Africa-South Korea Trade: In 2022, South Africa exported $2.89B to South Korea. The main products that South Africa exported to South Korea were Coal Briquettes ($1.37B), Iron Ore ($531M), and Platinum ($193M). Over the past 5 years the exports of South Africa to South Korea have increased at an annualized rate of 6.39%, from $2.12B in 2017 to $2.89B in 2022.

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

South Korea-South Africa Trade: In 2022, South Korea exported $1.25B to South Africa. The main products that South Korea exported to South Africa were Cars ($189M), Refined Petroleum ($153M), and Aluminium Plating ($86.6M). Over the past 5 years the exports of South Korea to South Africa have increased at an annualized rate of 3.64%,  from $1.04B in 2017 to $1.25B in 2022.

In 2005, South Korea exported services to South Africa worth $94.6M, with Transportation ($80.7M), Travel ($6.9M), and Other business services ($4.1M) being the largest in terms of value.

Comparison: In 2022,  South Africa ranked 59 in the Economic Complexity Index (ECI 0.076), and 34 in total exports ($147B). 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
Value

In 2022, South Africa exported $2.89B to South Korea. The main products exported from South Africa to South Korea were Coal Briquettes ($1.37B), Iron Ore ($531M), and Platinum ($193M). During the last 5 years the exports of South Africa to South Korea have increased at an annualized rate of 6.39%, from $2.12B in 2017 to $2.89B in 2022.

In 2017, South Korea exported $1.25B to South Africa. The main products exported from South Korea to South Africa were Cars ($189M), Refined Petroleum ($153M), and Aluminium Plating ($86.6M). During the last 5 years the exports of South Korea to South Africa have increased at an annualized rate of 3.64%, from $1.04B in 2022 to $1.25B in 2017.

Exports from South Africa (Flag) to South Korea (Flag) (2022)

Exports from South Korea (Flag) to South Africa (Flag) (2022)

Market Competitiveness

Color
South Africa
Top Destination
China$23.4B
South Korea
Top Destination
China$150B

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

In 2022, countries that imported more from South Africa than South Korea included Botswana ($4.74B), Switzerland ($6.43B), and Namibia ($3.3B).

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

Difference in imports from South Korea (Flag) and South Africa (Flag) (2022)

Comparative Advantage South Africa - South Korea

Flow
Scale

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

During 2022, South Africa had a large net trade with South Korea in the exports of Mineral Products ($2.09B), Metals ($245M), and Precious Metals ($193M).

During 2017, South Korea had a large net trade with South Africa in the exports of Transportation ($284M), Machines ($246M), and Mineral Products ($209M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Africa South Korea+$104MCoal Briquettes
Top Product Potential South Korea South Africa+$154MRefined Petroleum

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

This visualization shows the product space at the HS4 level with the flags of South Africa and South Korea. This means that a dot/product with the flag of South Africa 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 South Africa.

Product Space of South Africa (Flag) and South Korea (Flag) (2022)

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