2023
Flag  
GDP
$551BCURRENT US$
Rnk 25 / 195
2013-2023
Flag
GDP GROWTH
127%CURRENT US$
Rnk 7 / 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 
$103,888CURRENT US$
Rnk 4 / 195
2013-2023
Flag
GDP PC GROWTH
97.4%CURRENT US$
Rnk 9 / 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

Ireland-South Korea Trade: In 2023, Ireland exported $909M to South Korea. The main products that Ireland exported to South Korea were Packaged Medicaments ($193M), Vaccines, blood, antisera, toxins and cultures ($138M), and Jewellery ($99.4M). Over the past 5 years the exports of Ireland to South Korea have decreased at an annualized rate of 5.6%, from $1.21B in 2018 to $909M in 2023.

In 2020, Ireland exported services to South Korea worth $811M, with Other business services ($730M), Royalties and license fees ($36.6M), and Financial services ($30.8M) being the largest in terms of value.

South Korea-Ireland Trade: In 2023, South Korea exported $1.54B to Ireland. The main products that South Korea exported to Ireland were Cars ($446M), Office Machine Parts ($281M), and Machinery Having Individual Functions ($153M). Over the past 5 years the exports of South Korea to Ireland have increased at an annualized rate of 10.1%,  from $952M in 2018 to $1.54B in 2023.

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

Comparison: In 2023,  Ireland ranked 17 in the Economic Complexity Index (ECI 1.31), and 29 in total exports ($241B). 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, Ireland exported $909M to South Korea. The main products exported from Ireland to South Korea were Packaged Medicaments ($193M), Vaccines, blood, antisera, toxins and cultures ($138M), and Jewellery ($99.4M). During the last 5 years the exports of Ireland to South Korea have decreased at an annualized rate of 5.6%, from $1.21B in 2018 to $909M in 2023.

In 2018, South Korea exported $1.54B to Ireland. The main products exported from South Korea to Ireland were Cars ($446M), Office Machine Parts ($281M), and Machinery Having Individual Functions ($153M). During the last 5 years the exports of South Korea to Ireland have increased at an annualized rate of 10.1%, from $952M in 2023 to $1.54B in 2018.

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

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

Market Competitiveness

Color
Ireland
Top Destination
United States$67.4B
South Korea
Top Destination
China$162B

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

In 2023, countries that imported more from Ireland than South Korea included Belgium ($18.7B), Germany ($26.7B), and United Kingdom ($20.5B).

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

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

Comparative Advantage Ireland - South Korea

Flow
Scale

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

During 2023, Ireland had a large net trade with South Korea in the exports of Chemical Products ($407M), Machines ($178M), and Instruments ($119M).

During 2018, South Korea had a large net trade with Ireland in the exports of Machines ($622M), Transportation ($502M), and Chemical Products ($194M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Ireland South Korea+$101MVaccines, blood, antisera, toxins and cultures
Top Product Potential South Korea Ireland+$73.2MCars

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

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

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