South Korea (KOR) and Bermuda (BMU) Trade | The Observatory of Economic Complexity

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South Korea-Bermuda In 2022, South Korea exported $302M to Bermuda. The main products that South Korea exported to Bermuda are Passenger and Cargo Ships ($296M), Cars ($6.15M), and Electric Batteries ($125k). During the last 27 years the exports of South Korea to Bermuda have increased at an annualized rate of 6.85%, from $50.5M in 1995 to $302M in 2022.

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

Bermuda-South Korea In 2022, Bermuda exported $4.88k to South Korea. The main products that Bermuda exported to South Korea were Engine Parts ($2.5k), Telephones ($940), and Electric Motors ($429). During the last 27 years the exports of Bermuda to South Korea have increased at an annualized rate of 8.74%, from $508 in 1995 to $4.88k in 2022.

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

Comparison In 2022, South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B). That same year, Bermuda ranked 199 in total exports ($68.1M), and does not have data regarding Economic Complexity Index.

Latest Trends

February, 2024

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Overview In February 2024, South Korea exported $223k and imported $14k from Bermuda, resulting in a positive trade balance of $209k. Between February 2023 and February 2024 the exports of South Korea have decreased by $-1.14M (-83.6%) from $1.36M to $223k, while imports increased by $12k (600%) from $2k to $14k.

Trade In February 2024, the top exports of South Korea to Bermuda were Cars, tractors, trucks & parts thereof. ($213k), Plastics & articles thereof ($0), Footwear ($0), Machinery, mechanical appliances, & parts ($0), and Electrical machinery and electronics ($0). In February 2024 the top imports of South Korea from Bermuda were Plastics & articles thereof ($0), Footwear ($0), Machinery, mechanical appliances, & parts ($0), Electrical machinery and electronics ($0), and Cars, tractors, trucks & parts thereof. ($0).

Growth In February 2024, the decrease in South Korea's year-by-year exports to Bermuda was explained primarily by an decrease in product exports in . In February 2024, the increase in South Korea's year-by-year imports from Bermuda was explained primarily by an increase in product imports in .

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, South Korea exported $302M to Bermuda. The main products exported from South Korea to Bermuda were Passenger and Cargo Ships ($296M), Cars ($6.15M), and Electric Batteries ($125k). During the last 27 years the exports of South Korea to Bermuda have increased at an annualized rate of 6.85%, from $50.5M in 1995 to $302M in 2022.

In 2022, Bermuda exported $4.88k to South Korea. The main products exported from Bermuda to South Korea were Engine Parts ($2.5k), Telephones ($940), and Electric Motors ($429). During the last 24 years the exports of Bermuda to South Korea have increased at an annualized rate of 8.74%, from $508 in 1998 to $4.88k in 2022.

Exports from South Korea () to Bermuda () (2022)

Exports from Bermuda () to South Korea () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

South Korea
Top DestinationChina$150B

Bermuda
Top DestinationZambia$17.5M

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

In 2021, countries that imported more from South Korea than Bermuda were China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2021, countries that imported more from Bermuda than South Korea were Zambia ($17.5M).

Difference in imports from Bermuda () and South Korea () (2022)

Comparative Advantage South Korea - Bermuda

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, South Korea had a large net trade with Bermuda in the exports of Transportation ($302M), Machines ($223k), and Chemical Products ($88.2k).

During 2022, Bermuda had a large net trade with South Korea in the exports of Machines ($4.22k), Chemical Products ($268), and Foodstuffs ($129).

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more South Korea has comparative advantage over Bermuda. Similarly, the more yellow a dot/product is, the more Bermuda has comparative advantage over South Korea.

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from South Korea () to Bermuda () (2022)

Exports from Bermuda () to South Korea () (2022)

Market Competitiveness

Difference in imports from Bermuda () and South Korea () (2022)

Comparative Advantage South Korea - Bermuda

Economic Complexity

Competitive Landscape

Product Space of South Korea () and Bermuda () (2022)

About

Latest Trends

About

Latest Trade

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Historical Data

Bilateral Trade by Products

Exports from South Korea () to Bermuda () (2022)

Exports from Bermuda () to South Korea () (2022)

Market Competitiveness

Difference in imports from Bermuda () and South Korea () (2022)

Comparative Advantage South Korea - Bermuda

Economic Complexity

Competitive Landscape

Product Space of South Korea () and Bermuda () (2022)

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