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Pricing

2022
Flag → Flag
Exports $35.8MRnk 143 / 220
2022
Flag → Flag
Top Product $15.7MRefined Petroleum
2022
Flag → Flag
Exports $27.7kRnk 81 / 128
2022
Flag → Flag
Top Product $12.3kRaw Sugar
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.5Rnk 86 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP$17.4BCURRENT US$
Rnk 124 / 186
2012-2022
Flag
GDP GROWTH56.2%CURRENT US$
Rnk 48 / 186
2022
Flag
GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC$1,303CURRENT US$
Rnk 161 / 186
2012-2022
Flag
GDP PC GROWTH17.1%CURRENT US$
Rnk 95 / 186

About

South Korea-Benin Trade: In 2022, South Korea exported $35.8M to Benin. The main products that South Korea exported to Benin were Refined Petroleum ($15.7M), Used Clothing ($8.22M), and Non-fillet Frozen Fish ($2.6M). Over the past 5 years the exports of South Korea to Benin have decreased at an annualized rate of 3.39%, from $42.6M in 2017 to $35.8M in 2022.

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

Benin-South Korea Trade: In 2022, Benin exported $27.7k to South Korea. The main products that Benin exported to South Korea were Raw Sugar ($12.3k), Refined Petroleum ($8.24k), and Engine Parts ($6.47k). Over the past 5 years the exports of Benin to South Korea have decreased at an annualized rate of 61%,  from $20.3M in 2017 to $27.7k in 2022.

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

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Benin ranked 86 in the Economic Complexity Index (ECI -0.5), and 149 in total exports ($1.67B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $1.54M and imported $37k from Benin, resulting in a positive trade balance of $1.51M. Between October 2023 and October 2024 the exports of South Korea have increased by $254k (19.7%) from $1.29M to $1.54M, while imports decreased by $-143k (-79.4%) from $180k to $37k.

Trade In October 2024, the top exports of South Korea to Benin were Used clothes & textile articles ($798k), Fish, Crustaceans & Molluscs ($552k), Plastics & articles thereof ($333k), Cars, tractors, trucks & parts thereof. ($68k), and Paints, dyes, & varnishes ($58k). In October 2024 the top imports of South Korea from Benin were Fish, Crustaceans & Molluscs ($0), Pharmaceutical products ($0), Paints, dyes, & varnishes ($0), Chemical products n.e.s. ($0), and Plastics & articles thereof ($0).

Growth In October 2024, the increase in South Korea's year-by-year exports to Benin was explained primarily by an increase in product exports in Fish, Crustaceans & Molluscs ($514k or 1.35k%), Used clothes & textile articles ($215k or 36.9%), and Cars, tractors, trucks & parts thereof. ($23k or 51.1%). In October 2024, the decrease in South Korea's year-by-year imports  from Benin was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$254k(19.7%)
IMPORT GROWTH (October 2023 - October 2024)$-143k(-79.4%)

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 Benin and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Benin and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $35.8M to Benin. The main products exported from South Korea to Benin were Refined Petroleum ($15.7M), Used Clothing ($8.22M), and Non-fillet Frozen Fish ($2.6M). During the last 5 years the exports of South Korea to Benin have decreased at an annualized rate of 3.39%, from $42.6M in 2017 to $35.8M in 2022.

In 2017, Benin exported $27.7k to South Korea. The main products exported from Benin to South Korea were Raw Sugar ($12.3k), Refined Petroleum ($8.24k), and Engine Parts ($6.47k). During the last 5 years the exports of Benin to South Korea have decreased at an annualized rate of 61%, from $20.3M in 2022 to $27.7k in 2017.

Exports from South Korea (Flag) to Benin (Flag) (2022)

Exports from Benin (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Benin
Top DestinationIndia$448M

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

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

In 2022, countries that imported more from Benin than South Korea included Chad ($28M) and Norfolk Island ($40.1k).

Difference in imports from Benin (Flag) and South Korea (Flag) (2022)

Comparative Advantage South Korea - Benin

Flow
Scale

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

During 2022, South Korea had a large net trade with Benin in the exports of Mineral Products ($15.7M), Textiles ($8.26M), and Plastics and Rubbers ($4.74M).

During 2017, Benin had a large net trade with South Korea in the exports of Foodstuffs ($12.3k), Mineral Products ($8.24k), and Machines ($6.47k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Benin+$12.1MRefined Petroleum
Top Product Potential Benin South Korea+$103kRefined Petroleum

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

Product Space of South Korea (Flag) and Benin (Flag) (2022)

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