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Pricing

2022
Flag → Flag
Exports $2.36BRnk 38 / 220
2022
Flag → Flag
Top Product $1.07BRefined Petroleum
2022
Flag → Flag
Exports $675MRnk 19 / 139
2022
Flag → Flag
Top Product $117MKnit Sweaters
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.82Rnk 101 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$460BCURRENT US$
Rnk 34 / 186
2012-2022
Flag
GDP GROWTH245%CURRENT US$
Rnk 2 / 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$2,688CURRENT US$
Rnk 136 / 186
2012-2022
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GDP PC GROWTH207%CURRENT US$
Rnk 2 / 186

About

South Korea-Bangladesh Trade: In 2022, South Korea exported $2.36B to Bangladesh. The main products that South Korea exported to Bangladesh were Refined Petroleum ($1.07B), Pesticides ($61.9M), and Coated Flat-Rolled Iron ($48.3M). Over the past 5 years the exports of South Korea to Bangladesh have increased at an annualized rate of 13.1%, from $1.28B in 2017 to $2.36B in 2022.

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

Bangladesh-South Korea Trade: In 2022, Bangladesh exported $675M to South Korea. The main products that Bangladesh exported to South Korea were Knit Sweaters ($117M), Knit T-shirts ($109M), and Non-Knit Men's Suits ($73.2M). Over the past 5 years the exports of Bangladesh to South Korea have increased at an annualized rate of 10%,  from $285M in 2017 to $675M in 2022.

In 2022, Bangladesh 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, Bangladesh ranked 101 in the Economic Complexity Index (ECI -0.82), and 52 in total exports ($64.2B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $105M and imported $62.9M from Bangladesh, resulting in a positive trade balance of $41.9M. Between October 2023 and October 2024 the exports of South Korea have decreased by $-31.6M (-23.2%) from $136M to $105M, while imports increased by $6.06M (10.7%) from $56.9M to $62.9M.

Trade In October 2024, the top exports of South Korea to Bangladesh were Mineral fuels, mineral oils and products... ($70.6M), Machinery, mechanical appliances, & parts ($17.6M), Plastics & articles thereof ($10.3M), Iron & steel ($7.62M), and Chemical products n.e.s. ($7.37M). In October 2024 the top imports of South Korea from Bangladesh were Knitted clothing accesories ($32.9M), Non-knitted clothing accesories ($25.8M), Footwear ($4.42M), Copper articles ($1.37M), and Vegetable textile fibers, paper yarn &... ($888k).

Growth In October 2024, the decrease in South Korea's year-by-year exports to Bangladesh was explained primarily by an decrease in product exports in Plastics & articles thereof ($-15.3M or -60%), Chemical products n.e.s. ($-7.29M or -49.7%), and Electrical machinery and electronics ($-6.95M or -74.1%). In October 2024, the increase in South Korea's year-by-year imports  from Bangladesh was explained primarily by an increase in product imports  in Non-knitted clothing accesories ($6.86M or 36.2%), Knitted clothing accesories ($5.16M or 18.6%), and Footwear ($3.08M or 231%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$-31.6M(-23.2%)
IMPORT GROWTH (October 2023 - October 2024)$6.06M(10.7%)

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

For full datasets download visit Bulk Download page.

Explore Bangladesh and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $2.36B to Bangladesh. The main products exported from South Korea to Bangladesh were Refined Petroleum ($1.07B), Pesticides ($61.9M), and Coated Flat-Rolled Iron ($48.3M). During the last 5 years the exports of South Korea to Bangladesh have increased at an annualized rate of 13.1%, from $1.28B in 2017 to $2.36B in 2022.

In 2017, Bangladesh exported $675M to South Korea. The main products exported from Bangladesh to South Korea were Knit Sweaters ($117M), Knit T-shirts ($109M), and Non-Knit Men's Suits ($73.2M). During the last 5 years the exports of Bangladesh to South Korea have increased at an annualized rate of 10%, from $285M in 2022 to $675M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Bangladesh
Top DestinationUnited States$11.7B

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

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

In 2022, countries that imported more from Bangladesh than South Korea included Spain ($4.41B), Denmark ($1.28B), and Bosnia and Herzegovina ($58M).

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

Comparative Advantage South Korea - Bangladesh

Flow
Scale

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

During 2022, South Korea had a large net trade with Bangladesh in the exports of Mineral Products ($1.07B), Machines ($270M), and Metals ($246M).

During 2017, Bangladesh had a large net trade with South Korea in the exports of Textiles ($593M), Footwear and Headwear ($29.7M), and Metals ($18M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Bangladesh+$226MRefined Petroleum
Top Product Potential Bangladesh South Korea+$99.7MKnit Sweaters

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

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

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