Ghana (GHA) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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Ghana-South Korea Trade: In 2023, Ghana exported $32.3M to South Korea. The main products that Ghana exported to South Korea were Gold ($13M), Cocoa Beans ($6.79M), and Silver ($4.72M). Over the past 5 years the exports of Ghana to South Korea have increased at an annualized rate of 0.088%, from $32.1M in 2018 to $32.3M in 2023.

In 2023, Ghana did not export any services to South Korea.

South Korea-Ghana Trade: In 2023, South Korea exported $234M to Ghana. The main products that South Korea exported to Ghana were Cyanides ($37.3M), Delivery Trucks ($33.9M), and Ethylene Polymers ($29.7M). Over the past 5 years the exports of South Korea to Ghana have decreased at an annualized rate of 5.59%, from $312M in 2018 to $234M in 2023.

In 2023, South Korea did not export any services to Ghana.

Comparison: In 2023, Ghana ranked 109 in the Economic Complexity Index (ECI -0.97), and 71 in total exports ($27.1B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Ghana exported $32.3M to South Korea. The main products exported from Ghana to South Korea were Gold ($13M), Cocoa Beans ($6.79M), and Silver ($4.72M). During the last 5 years the exports of Ghana to South Korea have increased at an annualized rate of 0.088%, from $32.1M in 2018 to $32.3M in 2023.

In 2018, South Korea exported $234M to Ghana. The main products exported from South Korea to Ghana were Cyanides ($37.3M), Delivery Trucks ($33.9M), and Ethylene Polymers ($29.7M). During the last 5 years the exports of South Korea to Ghana have decreased at an annualized rate of 5.59%, from $312M in 2023 to $234M in 2018.

Exports from Ghana () to South Korea () (2023)

Exports from South Korea () to Ghana () (2023)

Latest Data

Trade between Ghana () and South Korea ()

Ghana Exports

Date

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Ghana
Top DestinationSwitzerland$6.49B

South Korea
Top DestinationChina$162B

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

In 2023, countries that imported more from Ghana than South Korea included Switzerland ($6.49B), South Africa ($1.85B), and Burkina Faso ($574M).

In 2023, countries that imported more from South Korea than Ghana included China ($162B), United States ($118B), and Hong Kong ($28.8B).

Difference in imports from South Korea () and Ghana () (2023)

Comparative Advantage Ghana - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Ghana had a large net trade with South Korea in the exports of Precious Metals ($17.8M), Foodstuffs ($8.14M), and Metals ($4.04M).

During 2018, South Korea had a large net trade with Ghana in the exports of Transportation ($67.4M), Plastics and Rubbers ($61.2M), and Chemical Products ($50.4M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Ghana South Korea+$5.05MScrap Copper

Top Product Potential South Korea Ghana+$12.4MCars

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Ghana () to South Korea () (2023)

Exports from South Korea () to Ghana () (2023)

Latest Data

Trade between Ghana () and South Korea ()

Ghana Exports

South Korea Exports

Market Competitiveness

Difference in imports from South Korea () and Ghana () (2023)

Comparative Advantage Ghana - South Korea

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Ghana () and South Korea () (2023)

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