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Pricing

2022
Flag → Flag
Exports $6.96BRnk 6 / 215
2022
Flag → Flag
Top Product $2.09BCoal Briquettes
2022
Flag → Flag
Exports $8.89BRnk 16 / 220
2022
Flag → Flag
Top Product $3.25BCars
2022
Flag
Economic Complexity (ECI) ECI 0.92Rnk 31 / 133
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag  
GDP$2.14TCURRENT US$
Rnk 9 / 186
2012-2022
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GDP GROWTH17%CURRENT US$
Rnk 129 / 186
2022
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 GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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GDP PC $54,966CURRENT US$
Rnk 14 / 186
2012-2022
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GDP PC GROWTH4.36%CURRENT US$
Rnk 130 / 186
2022
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GDP PC$32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186

About

Canada-South Korea Trade: In 2022, Canada exported $6.96B to South Korea. The main products that Canada exported to South Korea were Coal Briquettes ($2.09B), Copper Ore ($775M), and Iron Ore ($620M). Over the past 5 years the exports of Canada to South Korea have increased at an annualized rate of 9.55%, from $4.41B in 2017 to $6.96B in 2022.

In 2020, Canada exported services to South Korea worth $594M, with Travel ($374M), Transportation ($151M), and Royalties and license fees ($29.1M) being the largest in terms of value.

South Korea-Canada Trade: In 2022, South Korea exported $8.89B to Canada. The main products that South Korea exported to Canada were Cars ($3.25B), Motor vehicles; parts and accessories (8701 to 8705) ($320M), and Other Plastic Products ($306M). Over the past 5 years the exports of South Korea to Canada have increased at an annualized rate of 10.2%,  from $5.46B in 2017 to $8.89B in 2022.

In 2005, South Korea exported services to Canada worth $447M, with Transportation ($213M), Travel ($136M), and Other business services ($44.5M) being the largest in terms of value.

Comparison: In 2022,  Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Latest Trends

August, 2024

About

Overview In August 2024, Canada exported C$610M and imported C$1.33B from South Korea, resulting in a negative trade balance of C$721M. Between August 2023 and August 2024 the exports of Canada have increased by C$134M (28.2%) from C$476M to C$610M, while imports increased by C$227M (20.6%) from C$1.1B to C$1.33B.

Trade In August 2024, the top exports of Canada to South Korea were Coal Briquettes (C$150M), Petroleum Gas (C$66.9M), Copper Ore (C$57.4M), Raw Nickel (C$43.6M), and Iron Ore (C$27M). In August 2024 the top imports of Canada from South Korea were Cars (C$399M), Other Large Iron Pipes (C$43.4M), Motor vehicles; parts and accessories (8701... (C$30.3M), Large Construction Vehicles (C$29.6M), and Platinum (C$29.6M).

Origins In August 2024 the exports of Canada were mainly from British Columbia (C$251M), Ontario (C$138M), Alberta (C$76.2M), Quebec (C$70.1M), and Newfoundland Labrador (C$23.9M), while imports destinations were mainly Ontario (C$939M), British Columbia (C$240M), Quebec (C$105M), Alberta (C$28.8M), and Manitoba (C$8.68M).

Growth In August 2024, the increase in Canada's year-by-year exports to South Korea was explained primarily by an increase in product exports in Petroleum Gas (C$36.8M or 122%), Raw Nickel (C$20.1M or 86%), and Semi chemical Woodpulp (C$19.8M or 305%). In August 2024, the increase in Canada's year-by-year imports  from South Korea was explained primarily by an increase in product imports  in Cars (C$112M or 39%), Other Large Iron Pipes (C$38.7M or 819%), and Platinum (C$17.8M or 151%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)C$134M(28.2%)
IMPORT GROWTH (August 2023 - August 2024)C$227M(20.6%)
MAIN EXPORTER (August 2024)British ColumbiaC$251M

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

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

For full datasets download visit Bulk Download page.

Explore South Korea and Canada Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Canada exported $6.96B to South Korea. The main products exported from Canada to South Korea were Coal Briquettes ($2.09B), Copper Ore ($775M), and Iron Ore ($620M). During the last 5 years the exports of Canada to South Korea have increased at an annualized rate of 9.55%, from $4.41B in 2017 to $6.96B in 2022.

In 2017, South Korea exported $8.89B to Canada. The main products exported from South Korea to Canada were Cars ($3.25B), Motor vehicles; parts and accessories (8701 to 8705) ($320M), and Other Plastic Products ($306M). During the last 5 years the exports of South Korea to Canada have increased at an annualized rate of 10.2%, from $5.46B in 2022 to $8.89B in 2017.

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

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

Market Competitiveness

Color
Canada
Top DestinationUnited States$438B
South Korea
Top DestinationChina$150B

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

In 2022, countries that imported more from Canada than South Korea included United States ($438B), United Kingdom ($12.9B), and Norway ($3.19B).

In 2022, countries that imported more from South Korea than Canada included China ($150B), Vietnam ($60.7B), and Chinese Taipei ($28.4B).

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

Comparative Advantage Canada - South Korea

Flow
Scale

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

During 2022, Canada had a large net trade with South Korea in the exports of Mineral Products ($4.21B), Animal Products ($440M), and Metals ($383M).

During 2017, South Korea had a large net trade with Canada in the exports of Transportation ($3.73B), Machines ($1.98B), and Metals ($1.15B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Canada South Korea+$425MCrude Petroleum
Top Product Potential South Korea Canada+$197MMotor vehicles; parts and accessories (8701 to 8705)

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 Canada and South Korea. This means that a dot/product with the flag of Canada 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 Canada.

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

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