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2023
Flag → Flag
Exports $2.05BRnk 18 / 211
2023
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Top Product $676MCoal Briquettes
2023
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Exports $972MRnk 41 / 142
2023
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Top Product $126MCars
2023
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Economic Complexity (ECI) ECI 0.07Rnk 59 / 132
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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GDP$381BCURRENT US$
Rnk 40 / 195
2013-2023
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GDP GROWTH-5.04%CURRENT US$
Rnk 177 / 195
2023
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 GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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GDP PC $6,023CURRENT US$
Rnk 113 / 195
2013-2023
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GDP PC GROWTH-17.9%CURRENT US$
Rnk 178 / 195
2023
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GDP PC$33,121CURRENT US$
Rnk 41 / 196
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195

About

South Africa-South Korea Trade: In 2023, South Africa exported $2.05B to South Korea. The main products that South Africa exported to South Korea were Coal Briquettes ($676M), Iron Ore ($514M), and Cars ($179M). Over the past 5 years the exports of South Africa to South Korea have decreased at an annualized rate of 4.64%, from $2.6B in 2018 to $2.05B in 2023.

In 2023, South Africa did not export any services to South Korea.

South Korea-South Africa Trade: In 2023, South Korea exported $972M to South Africa. The main products that South Korea exported to South Africa were Cars ($126M), Refined Petroleum ($92.9M), and Large Construction Vehicles ($46.7M). Over the past 5 years the exports of South Korea to South Africa have decreased at an annualized rate of 1.73%,  from $1.06B in 2018 to $972M in 2023.

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 2023,  South Africa ranked 59 in the Economic Complexity Index (ECI 0.07), and 34 in total exports ($154B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B).

Latest Trends

November, 2024

About

Overview In November 2024, South Africa exported ZAR4.65B and imported ZAR858M from South Korea, resulting in a positive trade balance of ZAR3.79B. Between November 2023 and November 2024 the exports of South Africa have increased by ZAR1.88B (67.8%) from ZAR2.77B to ZAR4.65B, while imports decreased by ZAR-362M (-29.7%) from ZAR1.22B to ZAR858M.

Trade In November 2024, the top exports of South Africa to South Korea were Coal Briquettes (ZAR2.02B), Iron Ore (ZAR838M), Manganese Ore (ZAR98M), Delivery Trucks (ZAR42.6M), and Alcohol > 80% ABV (ZAR21.5M). In November 2024 the top imports of South Africa from South Korea were Cars (ZAR392M), Delivery Trucks (ZAR79M), Aluminium Plating (ZAR71.8M), Motor vehicles; parts and accessories (8701... (ZAR46.3M), and Office Machine Parts (ZAR37.1M).

Origins In November 2024 the exports of South Africa were mainly from Richards Bay (ZAR2.4B), Saldanha Bay (ZAR1.69B), Durban (ZAR290M), O.R. Tambo Int Airport (ZAR120M), and Port Elizabeth (ZAR67.2M), while imports destinations were mainly Durban (ZAR590M), O.R. Tambo Int Airport (ZAR116M), Cape Town (ZAR64.2M), Port Elizabeth (ZAR50M), and Johannesburg (ZAR13.4M).

Growth In November 2024, the increase in South Africa's year-by-year exports to South Korea was explained primarily by an increase in product exports in Coal Briquettes (ZAR1.4B or 223%), Iron Ore (ZAR347M or 70.7%), and Inorganic Salts (ZAR11.6M or 189%). In November 2024, the decrease in South Africa's year-by-year imports  from South Korea was explained primarily by an decrease in product imports  in Vinyl Chloride Polymers (ZAR-38.5M or -94.7%), Ethylene Polymers (ZAR-30.5M or -81.8%), and Large Construction Vehicles (ZAR-22M or -45.5%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)ZAR1.88B(67.8%)
IMPORT GROWTH (November 2023 - November 2024)ZAR-362M(-29.7%)
MAIN EXPORTER (November 2024)Richards BayZAR2.4B

This section shows exports and imports data at subnational level for South Africa. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of South Africa over time.

To check South Korea and South Africa trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore South Korea and South Africa Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Africa exported $2.05B to South Korea. The main products exported from South Africa to South Korea were Coal Briquettes ($676M), Iron Ore ($514M), and Cars ($179M). During the last 5 years the exports of South Africa to South Korea have decreased at an annualized rate of 4.64%, from $2.6B in 2018 to $2.05B in 2023.

In 2018, South Korea exported $972M to South Africa. The main products exported from South Korea to South Africa were Cars ($126M), Refined Petroleum ($92.9M), and Large Construction Vehicles ($46.7M). During the last 5 years the exports of South Korea to South Africa have decreased at an annualized rate of 1.73%, from $1.06B in 2023 to $972M in 2018.

Exports from South Africa (Flag) to South Korea (Flag) (2023)

Exports from South Korea (Flag) to South Africa (Flag) (2023)

Market Competitiveness

Color
South Africa
Top DestinationChina$29.5B
South Korea
Top DestinationChina$162B

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 2023, countries that imported more from South Africa than South Korea included Mozambique ($6.13B), Botswana ($4.28B), and Zimbabwe ($3.47B).

In 2023, countries that imported more from South Korea than South Africa included China ($162B), United States ($118B), and Chinese Taipei ($28.2B).

Difference in imports from South Korea (Flag) and South Africa (Flag) (2023)

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 2023, South Africa had a large net trade with South Korea in the exports of Mineral Products ($1.33B), Transportation ($202M), and Vegetable Products ($169M).

During 2018, South Korea had a large net trade with South Africa in the exports of Machines ($255M), Transportation ($195M), and Mineral Products ($123M).

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) (2023)

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