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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 1.78Rnk 4 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$5.64BCURRENT US$
Rnk 152 / 186
2012-2022
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GDP GROWTH22.3%CURRENT US$
Rnk 116 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$20,019CURRENT US$
Rnk 52 / 186
2012-2022
Flag
GDP PC GROWTH19.9%CURRENT US$
Rnk 89 / 186

About

South Korea-Barbados Trade: In 2022, South Korea exported $7.9M to Barbados. The main products that South Korea exported to Barbados were Cars ($2.69M), Coated Flat-Rolled Iron ($1.52M), and Electric Batteries ($822k). Over the past 5 years the exports of South Korea to Barbados have decreased at an annualized rate of 7.01%, from $11.4M in 2017 to $7.9M in 2022.

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

Barbados-South Korea Trade: 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). Over the past 5 years the exports of Barbados to South Korea have decreased at an annualized rate of 18.2%,  from $848k in 2017 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 1.78),  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

October, 2024

About

Overview In October 2024, South Korea exported $210k and imported $13k from Barbados, resulting in a positive trade balance of $197k. Between October 2023 and October 2024 the exports of South Korea have decreased by $-217k (-50.8%) from $427k to $210k, while imports decreased by $-9k (-40.9%) from $22k to $13k.

Trade In October 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 October 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 October 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 ($-60k or -100%). In October 2024, the decrease in South Korea's year-by-year imports  from Barbados was explained primarily by an decrease in product imports  in Optical, photo, & film equipment; medical... ($-6k or -33.3%) and Beverages, spirits, & vinegar ($-2k or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$-217k(-50.8%)
IMPORT GROWTH (October 2023 - October 2024)$-9k(-40.9%)

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

For full datasets download visit Bulk Download page.

Explore Barbados and South Korea Data

Go to Bulk Download

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 5 years the exports of South Korea to Barbados have decreased at an annualized rate of 7.01%, from $11.4M in 2017 to $7.9M in 2022.

In 2017, 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 5 years the exports of Barbados to South Korea have decreased at an annualized rate of 18.2%, from $848k in 2022 to $310k in 2017.

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

In 2022, countries that imported more from Barbados than South Korea included 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 2017, 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 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) (2022)

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