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2023
Flag → Flag
Exports $146MRnk 86 / 142
2023
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Top Product $63.2MCars
2023
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Exports $42.9MRnk 21 / 133
2023
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Top Product $41.4MMolybdenum Ore
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 0.094Rnk 57 / 132
2023
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GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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 GDP$24.1BCURRENT US$
Rnk 114 / 195
2013-2023
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GDP GROWTH117%CURRENT US$
Rnk 9 / 195
2023
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GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$8,053CURRENT US$
Rnk 96 / 196
2013-2023
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GDP PC GROWTH119%CURRENT US$
Rnk 4 / 195

About

South Korea-Armenia Trade: In 2023, South Korea exported $146M to Armenia. The main products that South Korea exported to Armenia were Cars ($63.2M), Orthopedic Appliances ($14M), and Coated Flat-Rolled Iron ($8M). Over the past 5 years the exports of South Korea to Armenia have increased at an annualized rate of 39.5%, from $27.6M in 2018 to $146M in 2023.

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

Armenia-South Korea Trade: In 2023, Armenia exported $42.9M to South Korea. The main products that Armenia exported to South Korea were Molybdenum Ore ($41.4M), Chemical Analysis Instruments ($676k), and Tantalum ($335k). Over the past 5 years the exports of Armenia to South Korea have increased at an annualized rate of 40.4%,  from $7.87M in 2018 to $42.9M in 2023.

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

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $1.96M and imported $4.61M from Armenia, resulting in a negative trade balance of $2.65M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-105k (-5.09%) from $2.06M to $1.96M, while imports decreased by $-7.19M (-60.9%) from $11.8M to $4.61M.

Trade In December 2024, the top exports of South Korea to Armenia were Optical, photo, & film equipment; medical... ($856k), Pharmaceutical products ($287k), Perfumery & cosmetics ($197k), Cars, tractors, trucks & parts thereof. ($88k), and Electrical machinery and electronics ($58k). In December 2024 the top imports of South Korea from Armenia were Non-knitted clothing accesories ($1.57M), Knitted clothing accesories ($40k), Leather articles ($19k), Beverages, spirits, & vinegar ($13k), and Optical, photo, & film equipment; medical... ($12k).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Armenia was explained primarily by an decrease in product exports in Cars, tractors, trucks & parts thereof. ($-740k or -89.4%), Electrical machinery and electronics ($-178k or -75.4%), and Misc. manufactures ($-43k or -100%). In December 2024, the decrease in South Korea's year-by-year imports  from Armenia was explained primarily by an decrease in product imports  in Non-knitted clothing accesories ($-1.76M or -52.9%), Electrical machinery and electronics ($-5k or -100%), and Optical, photo, & film equipment; medical... ($-3k or -20%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-105k(-5.09%)
IMPORT GROWTH (December 2023 - December 2024)$-7.19M(-60.9%)

This section shows exports and imports data at subnational level for South Korea. Click any date in the line plot or any product to explore the exports or imports behavior of South Korea over time.

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

For full datasets download visit Bulk Download page.

Explore Armenia and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $146M to Armenia. The main products exported from South Korea to Armenia were Cars ($63.2M), Orthopedic Appliances ($14M), and Coated Flat-Rolled Iron ($8M). During the last 5 years the exports of South Korea to Armenia have increased at an annualized rate of 39.5%, from $27.6M in 2018 to $146M in 2023.

In 2018, Armenia exported $42.9M to South Korea. The main products exported from Armenia to South Korea were Molybdenum Ore ($41.4M), Chemical Analysis Instruments ($676k), and Tantalum ($335k). During the last 5 years the exports of Armenia to South Korea have increased at an annualized rate of 40.4%, from $7.87M in 2023 to $42.9M in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from South Korea than Armenia included China ($162B), United States ($118B), and Japan ($28.4B).

In 2023, countries that imported more from Armenia than South Korea included Russia ($3.38B), Georgia ($340M), and Iraq ($181M).

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

Comparative Advantage South Korea - Armenia

Flow
Scale

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

During 2023, South Korea had a large net trade with Armenia in the exports of Transportation ($65.5M), Machines ($28.1M), and Instruments ($21.5M).

During 2018, Armenia had a large net trade with South Korea in the exports of Mineral Products ($41.4M), Instruments ($808k), and Metals ($347k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Armenia+$13.7MCars
Top Product Potential Armenia South Korea+$2.06MNon-Knit Women's Coats

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 South Korea and Armenia. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Armenia. Similarly, a dot/product with the flag of Armenia indicates it has a comparative advantage over South Korea.

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

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