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2022
Flag → Flag
Exports $261MRnk 9 / 163
2022
Flag → Flag
Top Product $175MFerroalloys
2022
Flag → Flag
Exports $400MRnk 76 / 220
2022
Flag → Flag
Top Product $110MCars
2022
Flag
Economic Complexity (ECI) ECI 0.052Rnk 62 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag  
GDP$114BCURRENT US$
Rnk 64 / 186
2012-2022
Flag
GDP GROWTH87.3%CURRENT US$
Rnk 23 / 186
2022
Flag
 GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC $10,121CURRENT US$
Rnk 77 / 186
2012-2022
Flag
GDP PC GROWTH67.3%CURRENT US$
Rnk 19 / 186
2022
Flag
GDP PC$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186

About

Dominican Republic-South Korea Trade: In 2022, Dominican Republic exported $261M to South Korea. The main products that Dominican Republic exported to South Korea were Ferroalloys ($175M), Medical Instruments ($32.5M), and Industrial Fatty Acids, Oils and Alcohols ($12.4M). Over the past 5 years the exports of Dominican Republic to South Korea have increased at an annualized rate of 16%, from $125M in 2017 to $261M in 2022.

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

South Korea-Dominican Republic Trade: In 2022, South Korea exported $400M to Dominican Republic. The main products that South Korea exported to Dominican Republic were Cars ($110M), Electrical Power Accessories ($53.1M), and Delivery Trucks ($25.7M). Over the past 5 years the exports of South Korea to Dominican Republic have increased at an annualized rate of 6.66%,  from $290M in 2017 to $400M in 2022.

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

Comparison: In 2022,  Dominican Republic ranked 62 in the Economic Complexity Index (ECI 0.052), and 92 in total exports ($13.8B). 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, Dominican Republic exported $261M to South Korea. The main products exported from Dominican Republic to South Korea were Ferroalloys ($175M), Medical Instruments ($32.5M), and Industrial Fatty Acids, Oils and Alcohols ($12.4M). During the last 5 years the exports of Dominican Republic to South Korea have increased at an annualized rate of 16%, from $125M in 2017 to $261M in 2022.

In 2017, South Korea exported $400M to Dominican Republic. The main products exported from South Korea to Dominican Republic were Cars ($110M), Electrical Power Accessories ($53.1M), and Delivery Trucks ($25.7M). During the last 5 years the exports of South Korea to Dominican Republic have increased at an annualized rate of 6.66%, from $290M in 2022 to $400M in 2017.

Exports from Dominican Republic (Flag) to South Korea (Flag) (2022)

Exports from South Korea (Flag) to Dominican Republic (Flag) (2022)

Latest Data

Trade between Dominican Republic (Flag) and South Korea (Flag)

Dominican Republic Exports

South Korea Exports

Market Competitiveness

Color
Dominican Republic
Top DestinationUnited States$6.85B
South Korea
Top DestinationChina$150B

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

In 2022, countries that imported more from Dominican Republic than South Korea included Haiti ($1.02B), Jamaica ($139M), and Turks and Caicos Islands ($24.4M).

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

Difference in imports from South Korea (Flag) and Dominican Republic (Flag) (2022)

Comparative Advantage Dominican Republic - South Korea

Flow
Scale

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

During 2022, Dominican Republic had a large net trade with South Korea in the exports of Metals ($190M), Instruments ($36M), and Chemical Products ($25.1M).

During 2017, South Korea had a large net trade with Dominican Republic in the exports of Transportation ($156M), Machines ($133M), and Metals ($29.5M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Dominican Republic South Korea+$15.5MMedical Instruments
Top Product Potential South Korea Dominican Republic+$36.1MCars

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

Product Space of Dominican Republic (Flag) and South Korea (Flag) (2022)

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