NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $6.03BRnk 20 / 223
2023
Flag → Flag
Top Product $795MGas Turbines
2023
Flag → Flag
Exports $7.92BRnk 20 / 142
2023
Flag → Flag
Top Product $2.55BCars
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 11 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag  
GDP$3.38TCURRENT US$
Rnk 6 / 195
2013-2023
Flag
GDP GROWTH21.4%CURRENT US$
Rnk 136 / 195
2023
Flag
 GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
GDP PC $49,464CURRENT US$
Rnk 26 / 195
2013-2023
Flag
GDP PC GROWTH13.9%CURRENT US$
Rnk 124 / 195
2023
Flag
GDP PC$33,121CURRENT US$
Rnk 41 / 196
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195

About

United Kingdom-South Korea Trade: In 2023, United Kingdom exported $6.03B to South Korea. The main products that United Kingdom exported to South Korea were Gas Turbines ($795M), Crude Petroleum ($765M), and Cars ($739M). Over the past 5 years the exports of United Kingdom to South Korea have decreased at an annualized rate of 1.87%, from $6.63B in 2018 to $6.03B in 2023.

In 2019, United Kingdom exported services to South Korea worth $2.87B, with Other business services ($1.38B), Transportation ($384M), and Royalties and license fees ($334M) being the largest in terms of value.

South Korea-United Kingdom Trade: In 2023, South Korea exported $7.92B to United Kingdom. The main products that South Korea exported to United Kingdom were Cars ($2.55B), Refined Petroleum ($581M), and Broadcasting Equipment ($341M). Over the past 5 years the exports of South Korea to United Kingdom have increased at an annualized rate of 3.78%,  from $6.58B in 2018 to $7.92B in 2023.

In 2005, South Korea exported services to United Kingdom worth $1.82B, with Transportation ($656M), Other business services ($515M), and Services not allocated ($409M) being the largest in terms of value.

Comparison: In 2023,  United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B). 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, United Kingdom exported £248M and imported £404M from South Korea, resulting in a negative trade balance of £157M. Between November 2023 and November 2024 the exports of United Kingdom have decreased by £-71.1M (-22.3%) from £319M to £248M, while imports decreased by £-55.2M (-12%) from £460M to £404M.

Trade In November 2024, the top exports of United Kingdom to South Korea were Vaccines, blood, antisera, toxins and cultures (£219M), Cars (£41.8M), Platinum (£22.8M), Gas Turbines (£20.8M), and Knit Sweaters (£15.4M). In November 2024 the top imports of United Kingdom from South Korea were Cars (£48.1M), Gas Turbines (£22M), Aircraft parts for spacecraft, UAVs, and... (£18.7M), Platinum (£17.7M), and Electric Batteries (£14.3M).

Origins In November 2024 the exports of United Kingdom were mainly from London Heathrow Airport (£116M), Southampton (£55M), London Gateway (£15M), Felixstowe (£12.9M), and East Midlands Airport (£10.8M), while imports destinations were mainly Immingham (£74.6M), London Heathrow Airport (£69.7M), Southampton (£54.9M), and Milford (£32.4M).

Growth In November 2024, the decrease in United Kingdom's year-by-year exports to South Korea was explained primarily by an decrease in product exports in Paintings (£-8.13M or -77.3%), Aircraft parts for spacecraft, UAVs, and... (£-7.89M or -78.8%), and Compasses (£-5.93M or -98.4%). In November 2024, the decrease in United Kingdom's year-by-year imports  from South Korea was explained primarily by an decrease in product imports  in Cars (£-85.8M or -64.1%), Refined Petroleum (£-49.9M or -99.5%), and Coated Flat-Rolled Iron (£-23.8M or -80.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)£-71.1M(-22.3%)
IMPORT GROWTH (November 2023 - November 2024)£-55.2M(-12%)
MAIN EXPORTER (November 2024)London Heathrow Airport£116M

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

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

For full datasets download visit Bulk Download page.

Explore South Korea and United Kingdom Data

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, United Kingdom exported $6.03B to South Korea. The main products exported from United Kingdom to South Korea were Gas Turbines ($795M), Crude Petroleum ($765M), and Cars ($739M). During the last 5 years the exports of United Kingdom to South Korea have decreased at an annualized rate of 1.87%, from $6.63B in 2018 to $6.03B in 2023.

In 2018, South Korea exported $7.92B to United Kingdom. The main products exported from South Korea to United Kingdom were Cars ($2.55B), Refined Petroleum ($581M), and Broadcasting Equipment ($341M). During the last 5 years the exports of South Korea to United Kingdom have increased at an annualized rate of 3.78%, from $6.58B in 2023 to $7.92B in 2018.

Exports from United Kingdom (Flag) to South Korea (Flag) (2023)

Exports from South Korea (Flag) to United Kingdom (Flag) (2023)

Market Competitiveness

Color
United Kingdom
Top DestinationUnited States$59.7B
South Korea
Top DestinationChina$162B

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

In 2023, countries that imported more from United Kingdom than South Korea included Ireland ($29.1B), Netherlands ($29.8B), and Germany ($34.6B).

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

Difference in imports from South Korea (Flag) and United Kingdom (Flag) (2023)

Comparative Advantage United Kingdom - South Korea

Flow
Scale

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

During 2023, United Kingdom had a large net trade with South Korea in the exports of Machines ($1.65B), Transportation ($892M), and Chemical Products ($807M).

During 2018, South Korea had a large net trade with United Kingdom in the exports of Transportation ($3.05B), Machines ($2.04B), and Mineral Products ($655M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United Kingdom South Korea+$387MCrude Petroleum
Top Product Potential South Korea United Kingdom+$444MCars

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

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

Product Space of United Kingdom (Flag) and South Korea (Flag) (2023)

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms