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Pricing

2022
Flag → Flag
Exports $7.9MRnk 177 / 220
2022
Flag → Flag
Top Product $2.69MCars
2022
Flag → Flag
Exports $310kRnk 53 / 139
2022
Flag → Flag
Top Product $285kOrthopedic Appliances
2022
Flag
Economic Complexity (ECI) ECI 1.71Rnk 4 / 124
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP$5.64BCURRENT US$
Rnk 152 / 186
2012-2022
Flag
GDP GROWTH22.3%CURRENT US$
Rnk 116 / 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$20,019CURRENT US$
Rnk 52 / 186
2012-2022
Flag
GDP PC GROWTH19.9%CURRENT US$
Rnk 89 / 186

About

South Korea-Barbados In 2022, South Korea exported $7.9M to Barbados. The main products that South Korea exported to Barbados are Cars ($2.69M), Coated Flat-Rolled Iron ($1.52M), and Electric Batteries ($822k). During the last 27 years the exports of South Korea to Barbados have decreased at an annualized rate of 0.38%, from $8.77M in 1995 to $7.9M in 2022.

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

Barbados-South Korea In 2022, Barbados exported $310k to South Korea. The main products that Barbados exported to South Korea were Orthopedic Appliances ($285k), Hard Liquor ($20.1k), and Microphones and Headphones ($2.41k). During the last 27 years the exports of Barbados to South Korea have decreased at an annualized rate of 0.73%, from $377k in 1995 to $310k in 2022.

In 2022, Barbados 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, Barbados ranked 176 in total exports ($393M), and does not have data regarding Economic Complexity Index.

Latest Trends

February, 2024

About

Overview In February 2024, South Korea exported $367k and imported $0 from Barbados, resulting in a positive trade balance of $367k. Between February 2023 and February 2024 the exports of South Korea have decreased by $-109k (-22.9%) from $476k to $367k, while imports decreased by $-26k (-100%) from $26k to $0.

Trade In February 2024, the top exports of South Korea to Barbados were Cars, tractors, trucks & parts thereof. ($127k), Iron & steel ($63k), Organic chemicals ($49k), Machinery, mechanical appliances, & parts ($32k), and Beverages, spirits, & vinegar ($16k). In February 2024 the top imports of South Korea from Barbados were Optical, photo, & film equipment; medical... ($12k), Beverages, spirits, & vinegar ($0), Organic chemicals ($0), Glues, starches, & albuminoid products ($0), and Iron & steel ($0).

Growth In February 2024, the decrease in South Korea's year-by-year exports to Barbados was explained primarily by an decrease in product exports in Cars, tractors, trucks & parts thereof. ($-653k or -83.7%), Iron & steel ($-82k or -56.6%), and Electrical machinery and electronics ($-60k or -100%). In February 2024, the decrease in South Korea's year-by-year imports  from Barbados was explained primarily by an decrease in product imports  in Optical, photo, & film equipment; medical... ($-6k or -33.3%) and Beverages, spirits, & vinegar ($-2k or -100%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (February 2023 - February 2024)$-109k(-22.9%)
IMPORT GROWTH (February 2023 - February 2024)$-26k(-100%)

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.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $7.9M to Barbados. The main products exported from South Korea to Barbados were Cars ($2.69M), Coated Flat-Rolled Iron ($1.52M), and Electric Batteries ($822k). During the last 27 years the exports of South Korea to Barbados have decreased at an annualized rate of 0.38%, from $8.77M in 1995 to $7.9M in 2022.

In 2022, Barbados exported $310k to South Korea. The main products exported from Barbados to South Korea were Orthopedic Appliances ($285k), Hard Liquor ($20.1k), and Microphones and Headphones ($2.41k). During the last 27 years the exports of Barbados to South Korea have decreased at an annualized rate of 0.73%, from $377k in 1995 to $310k in 2022.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Barbados
Top DestinationUnited States$88.6M

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

In 2021, countries that imported more from Barbados than South Korea were Saint Lucia ($20.8M), Grenada ($13.5M), and Saint Vincent and the Grenadines ($14.1M).

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

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 2022, South Korea had a large net trade with Barbados in the exports of Transportation ($3.54M), Machines ($1.89M), and Metals ($1.58M).

During 2022, Barbados had a large net trade with South Korea in the exports of Instruments ($285k), Foodstuffs ($20.2k), and Machines ($3.36k).

Economic Complexity

Competitive Landscape

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 Barbados. Similarly, the more yellow a dot/product is, the more Barbados has comparative advantage over South Korea.

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

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