2023
Flag  
GDP
$4.53TCURRENT US$
Rnk 3 / 195
2013-2023
Flag
GDP GROWTH
18.8%CURRENT US$
Rnk 144 / 195
2023
Flag
 GDP
$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH
25%CURRENT US$
Rnk 127 / 195
2023
Flag
GDP PC 
$54,343CURRENT US$
Rnk 21 / 195
2013-2023
Flag
GDP PC GROWTH
15.1%CURRENT US$
Rnk 118 / 195
2023
Flag
GDP PC
$33,121CURRENT US$
Rnk 41 / 196
2013-2023
Flag
GDP PC GROWTH
21.9%CURRENT US$
Rnk 99 / 195

About

Germany-South Korea Trade: In 2023, Germany exported $21.8B to South Korea. The main products that Germany exported to South Korea were Cars ($6.3B), Planes, Helicopters, and/or Spacecraft ($956M), and Motor vehicles; parts and accessories (8701 to 8705) ($655M). Over the past 5 years the exports of Germany to South Korea have increased at an annualized rate of 1.41%, from $20.4B in 2018 to $21.8B in 2023.

In 2020, Germany exported services to South Korea worth $2.27B, with Other business services ($958M), Transportation ($719M), and Royalties and license fees ($369M) being the largest in terms of value.

South Korea-Germany Trade: In 2023, South Korea exported $13.9B to Germany. The main products that South Korea exported to Germany were N/A. Over the past 5 years the exports of South Korea to Germany have increased at an annualized rate of 0.93%,  from $13.3B in 2018 to $13.9B in 2023.

In 2005, South Korea exported services to Germany worth $1.78B, with Other business services ($826M), Transportation ($704M), and Travel ($121M) being the largest in terms of value.

Comparison: In 2023,  Germany ranked 5 in the Economic Complexity Index (ECI 1.79), and 3 in total exports ($1.57T). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Germany exported $21.8B to South Korea. The main products exported from Germany to South Korea were Cars ($6.3B), Planes, Helicopters, and/or Spacecraft ($956M), and Motor vehicles; parts and accessories (8701 to 8705) ($655M). During the last 5 years the exports of Germany to South Korea have increased at an annualized rate of 1.41%, from $20.4B in 2018 to $21.8B in 2023.

In 2018, South Korea exported $13.9B to Germany. There were not main exports from South Korea to Germany in 2018. During the last 5 years the exports of South Korea to Germany have increased at an annualized rate of 0.93%, from $13.3B in 2023 to $13.9B in 2018.

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

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

Market Competitiveness

Color
Germany
Top Destination
United States$157B
South Korea
Top Destination
China$162B

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

In 2023, countries that imported more from Germany than South Korea included France ($118B), Netherlands ($108B), and Italy ($94.7B).

In 2023, countries that imported more from South Korea than Germany included China ($162B), Hong Kong ($28.8B), and Singapore ($25.3B).

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

Comparative Advantage Germany - South Korea

Flow
Scale

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

During 2023, Germany had a large net trade with South Korea in the exports of Transportation ($8.28B), Machines ($6.24B), and Chemical Products ($2.9B).

During 2018, South Korea had a large net trade with Germany in the exports of Machines ($5.64B), Transportation ($3.79B), and Chemical Products ($1.4B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Germany South Korea+$238MMotor vehicles; parts and accessories (8701 to 8705)
Top Product Potential South Korea Germany+$808MCars

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

Product Space of Germany (Flag) and South Korea (Flag) (2023)

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