2022
Flag  
GDP
$7.55BCURRENT US$
Rnk 149 / 186
2012-2022
Flag
GDP GROWTH
18.4%CURRENT US$
Rnk 124 / 186
2022
Flag
 GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH
30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC 
$118,846CURRENT US$
Rnk 2 / 186
2012-2022
Flag
GDP PC GROWTH
20.7%CURRENT US$
Rnk 85 / 186
2022
Flag
GDP PC
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186

About

Bermuda-South Korea Trade: In 2022, Bermuda exported $4.88k to South Korea. The main products that Bermuda exported to South Korea were Engine Parts ($2.5k), Telephones ($940), and Electric Motors ($429). Over the past 5 years the exports of Bermuda to South Korea have increased at an annualized rate of 3.12%, from $4.19k in 2017 to $4.88k in 2022.

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

South Korea-Bermuda Trade: In 2022, South Korea exported $302M to Bermuda. The main products that South Korea exported to Bermuda were Passenger and Cargo Ships ($296M), Cars ($6.15M), and Electric Batteries ($125k). Over the past 5 years the exports of South Korea to Bermuda have decreased at an annualized rate of 10.9%,  from $852M in 2017 to $302M in 2022.

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

Comparison In 2022,  Bermuda ranked 199 in total exports ($68.1M), and does not have data regarding Economic Complexity Index. 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, Bermuda exported $4.88k to South Korea. The main products exported from Bermuda to South Korea were Engine Parts ($2.5k), Telephones ($940), and Electric Motors ($429). During the last 5 years the exports of Bermuda to South Korea have increased at an annualized rate of 3.12%, from $4.19k in 2017 to $4.88k in 2022.

In 2017, South Korea exported $302M to Bermuda. The main products exported from South Korea to Bermuda were Passenger and Cargo Ships ($296M), Cars ($6.15M), and Electric Batteries ($125k). During the last 5 years the exports of South Korea to Bermuda have decreased at an annualized rate of 10.9%, from $852M in 2022 to $302M in 2017.

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

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

Latest Data

Trade between Bermuda (Flag) and South Korea (Flag)

Bermuda Exports

South Korea Exports

Market Competitiveness

Color
Bermuda
Top Destination
Zambia$17.5M
South Korea
Top Destination
China$150B

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

In 2022, countries that imported more from Bermuda than South Korea included Zambia ($17.5M).

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

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

Comparative Advantage Bermuda - South Korea

Flow
Scale

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

During 2022, Bermuda had a large net trade with South Korea in the exports of Machines ($4.22k), Chemical Products ($268), and Foodstuffs ($129).

During 2017, South Korea had a large net trade with Bermuda in the exports of Transportation ($302M), Machines ($223k), and Chemical Products ($88.2k).

Economic Complexity

Competitive Landscape

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

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

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