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2022
Flag → Flag
Exports $102MRnk 114 / 220
2022
Flag → Flag
Top Product $58.7MRefined Petroleum
2022
Flag → Flag
Exports $1.16MRnk 41 / 131
2022
Flag → Flag
Top Product $949kOther Oily Seeds
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.91Rnk 131 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP$18.9BCURRENT US$
Rnk 119 / 186
2012-2022
Flag
GDP GROWTH50.3%CURRENT US$
Rnk 59 / 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$833CURRENT US$
Rnk 174 / 186
2012-2022
Flag
GDP PC GROWTH13.5%CURRENT US$
Rnk 102 / 186

About

South Korea-Burkina Faso Trade: In 2022, South Korea exported $102M to Burkina Faso. The main products that South Korea exported to Burkina Faso were Refined Petroleum ($58.7M), Cyanides ($23.2M), and Other Plastic Products ($4.99M). Over the past 5 years the exports of South Korea to Burkina Faso have increased at an annualized rate of 19.9%, from $41M in 2017 to $102M in 2022.

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

Burkina Faso-South Korea Trade: In 2022, Burkina Faso exported $1.16M to South Korea. The main products that Burkina Faso exported to South Korea were Other Oily Seeds ($949k), Other Pure Vegetable Oils ($146k), and Gold ($65.7k). Over the past 5 years the exports of Burkina Faso to South Korea have increased at an annualized rate of 13.6%,  from $614k in 2017 to $1.16M in 2022.

In 2022, Burkina Faso 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, Burkina Faso ranked 131 in the Economic Complexity Index (ECI -1.91), and 110 in total exports ($8.2B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $2.6M and imported $44k from Burkina Faso, resulting in a positive trade balance of $2.56M. Between October 2023 and October 2024 the exports of South Korea have increased by $557k (27.3%) from $2.04M to $2.6M, while imports increased by $13k (41.9%) from $31k to $44k.

Trade In October 2024, the top exports of South Korea to Burkina Faso were Inorganic chemicals ($2.26M), Fish, Crustaceans & Molluscs ($192k), Books, newspapers, & other prints ($141k), Chemical products n.e.s. ($108k), and Plastics & articles thereof ($92k). In October 2024 the top imports of South Korea from Burkina Faso were Fish, Crustaceans & Molluscs ($0), Inorganic chemicals ($0), Perfumery & cosmetics ($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 Burkina Faso was explained primarily by an increase in product exports in Inorganic chemicals ($920k or 68.9%), Chemical products n.e.s. ($28k or 35%), and Machinery, mechanical appliances, & parts ($25k or 2.5k%). In October 2024, the increase in South Korea's year-by-year imports  from Burkina Faso was explained primarily by an increase in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$557k(27.3%)
IMPORT GROWTH (October 2023 - October 2024)$13k(41.9%)

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 Burkina Faso and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Burkina Faso and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $102M to Burkina Faso. The main products exported from South Korea to Burkina Faso were Refined Petroleum ($58.7M), Cyanides ($23.2M), and Other Plastic Products ($4.99M). During the last 5 years the exports of South Korea to Burkina Faso have increased at an annualized rate of 19.9%, from $41M in 2017 to $102M in 2022.

In 2017, Burkina Faso exported $1.16M to South Korea. The main products exported from Burkina Faso to South Korea were Other Oily Seeds ($949k), Other Pure Vegetable Oils ($146k), and Gold ($65.7k). During the last 5 years the exports of Burkina Faso to South Korea have increased at an annualized rate of 13.6%, from $614k in 2022 to $1.16M in 2017.

Exports from South Korea (Flag) to Burkina Faso (Flag) (2022)

Exports from Burkina Faso (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Burkina Faso
Top DestinationSwitzerland$6.08B

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

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

In 2022, countries that imported more from Burkina Faso than South Korea included Switzerland ($6.08B), Mali ($304M), and Niger ($32.6M).

Difference in imports from Burkina Faso (Flag) and South Korea (Flag) (2022)

Comparative Advantage South Korea - Burkina Faso

Flow
Scale

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

During 2022, South Korea had a large net trade with Burkina Faso in the exports of Mineral Products ($58.7M), Chemical Products ($28.8M), and Plastics and Rubbers ($6.85M).

During 2017, Burkina Faso had a large net trade with South Korea in the exports of Vegetable Products ($949k), Animal and Vegetable Bi-Products ($146k), and Precious Metals ($65.7k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Burkina Faso+$23.6MRefined Petroleum
Top Product Potential Burkina Faso South Korea+$1.3MOther Oily Seeds

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

Product Space of South Korea (Flag) and Burkina Faso (Flag) (2022)

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