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2023
Flag → Flag
Exports $5.21MRnk 129 / 142
2023
Flag → Flag
Top Product $2.3MCars
2023
Flag → Flag
Exports $311kRnk 1 / 0
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$6.72BCURRENT US$
Rnk 156 / 195
2013-2023
Flag
GDP GROWTH25.4%CURRENT US$
Rnk 124 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$23,804CURRENT US$
Rnk 52 / 196
2013-2023
Flag
GDP PC GROWTH23.3%CURRENT US$
Rnk 93 / 195

About

South Korea-Barbados Trade: In 2023, South Korea exported $5.21M to Barbados. The main products that South Korea exported to Barbados were Cars ($2.3M), Water and Gas Generators ($821k), and Electric Batteries ($607k). Over the past 5 years the exports of South Korea to Barbados have decreased at an annualized rate of 14.6%, from $11.5M in 2018 to $5.21M in 2023.

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

Barbados-South Korea Trade: In 2023, Barbados exported $311k to South Korea. The main products that Barbados exported to South Korea were N/A. Over the past 5 years the exports of Barbados to South Korea have decreased at an annualized rate of 18.3%,  from $852k in 2018 to $311k in 2023.

In 2023, Barbados 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, Barbados ranked 171 in total exports ($421M), and does not have data regarding Economic Complexity Index.

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $796k and imported $5k from Barbados, resulting in a positive trade balance of $791k. Between December 2023 and December 2024 the exports of South Korea have increased by $467k (142%) from $329k to $796k, while imports decreased by $-20k (-80%) from $25k to $5k.

Trade In December 2024, the top exports of South Korea to Barbados were Cars, tractors, trucks & parts thereof. ($1.16M), Electrical machinery and electronics ($171k), Iron & steel ($77k), Organic chemicals ($38k), and Mineral fuels, mineral oils and products... ($34k). In December 2024 the top imports of South Korea from Barbados were Optical, photo, & film equipment; medical... ($14k), Beverages, spirits, & vinegar ($1k), Mineral fuels, mineral oils and products... ($0), Organic chemicals ($0), and Glues, starches, & albuminoid products ($0).

Growth In December 2024, the increase in South Korea's year-by-year exports to Barbados was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($1.04M or 816%) and Iron & steel ($14k or 22.2%). In December 2024, the decrease in South Korea's year-by-year imports  from Barbados was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$467k(142%)
IMPORT GROWTH (December 2023 - December 2024)$-20k(-80%)

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

For full datasets download visit Bulk Download page.

Explore Barbados and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $5.21M to Barbados. The main products exported from South Korea to Barbados were Cars ($2.3M), Water and Gas Generators ($821k), and Electric Batteries ($607k). During the last 5 years the exports of South Korea to Barbados have decreased at an annualized rate of 14.6%, from $11.5M in 2018 to $5.21M in 2023.

In 2017, Barbados exported $311k to South Korea. There were not main exports from Barbados to South Korea in 2017. During the last 5 years the exports of Barbados to South Korea have decreased at an annualized rate of 18.3%, from $852k in 2022 to $311k in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Barbados
Top DestinationUnited States$91M

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

In 2023, countries that imported more from South Korea than Barbados included China ($162B), United States ($118B), and Hong Kong ($28.8B).

In 2023, countries that imported more from Barbados than South Korea included Trinidad and Tobago ($33.7M), Jamaica ($71.2M), and Saint Lucia ($19.5M).

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

Comparative Advantage South Korea - Barbados

Flow
Scale

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

During 2023, South Korea had a large net trade with Barbados in the exports of Transportation ($2.84M), Machines ($1.88M), and Chemical Products ($190k).

During 2017, Barbados had a large net trade with South Korea in the exports of .

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and Barbados. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Barbados. Similarly, a dot/product with the flag of Barbados indicates it has a comparative advantage over South Korea.

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

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