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2023
Flag → Flag
Exports $857MRnk 44 / 142
2023
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Top Product $139MCars
2023
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Exports $825MRnk 15 / 183
2023
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Top Product $553MCoal Briquettes
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 0.23Rnk 51 / 132
2023
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GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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 GDP$363BCURRENT US$
Rnk 42 / 195
2013-2023
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GDP GROWTH-4.87%CURRENT US$
Rnk 176 / 195
2023
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GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$6,947CURRENT US$
Rnk 104 / 196
2013-2023
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GDP PC GROWTH-16.1%CURRENT US$
Rnk 173 / 195

About

South Korea-Colombia Trade: In 2023, South Korea exported $857M to Colombia. The main products that South Korea exported to Colombia were Cars ($139M), Large Construction Vehicles ($34.5M), and Alkylbenzenes and Alkylnaphthalenes ($32.2M). Over the past 5 years the exports of South Korea to Colombia have increased at an annualized rate of 0.042%, from $855M in 2018 to $857M in 2023.

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

Colombia-South Korea Trade: In 2023, Colombia exported $825M to South Korea. The main products that Colombia exported to South Korea were Coal Briquettes ($553M), Coffee ($136M), and Ferroalloys ($42.7M). Over the past 5 years the exports of Colombia to South Korea have increased at an annualized rate of 2.3%,  from $688M in 2018 to $825M in 2023.

In 2023, Colombia 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, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $98M and imported $70.2M from Colombia, resulting in a positive trade balance of $27.7M. Between December 2023 and December 2024 the exports of South Korea have increased by $36.5M (59.3%) from $61.5M to $98M, while imports decreased by $-69.6M (-49.8%) from $140M to $70.2M.

Trade In December 2024, the top exports of South Korea to Colombia were Plastics & articles thereof ($13.5M), Cars, tractors, trucks & parts thereof. ($11M), Machinery, mechanical appliances, & parts ($5.65M), Organic chemicals ($5.14M), and Chemical products n.e.s. ($5.04M). In December 2024 the top imports of South Korea from Colombia were Mineral fuels, mineral oils and products... ($48.1M), Coffee, tea, mate & spices ($14.3M), Iron & steel ($4.17M), Live trees, plants, bulbs, cut flowers,... ($2.89M), and Copper articles ($1.86M).

Growth In December 2024, the increase in South Korea's year-by-year exports to Colombia was explained primarily by an increase in product exports in Chemical products n.e.s. ($4.07M or 420%), Plastics & articles thereof ($4.04M or 42.8%), and Organic chemicals ($3.19M or 163%). In December 2024, the decrease in South Korea's year-by-year imports  from Colombia was explained primarily by an decrease in product imports  in Chemical products n.e.s. ($-2.43M or -100%), Miscellaneous edible preparations ($-1.09M or -57%), and Aluminum articles ($-410k or -67.8%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$36.5M(59.3%)
IMPORT GROWTH (December 2023 - December 2024)$-69.6M(-49.8%)

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

For full datasets download visit Bulk Download page.

Explore Colombia and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $857M to Colombia. The main products exported from South Korea to Colombia were Cars ($139M), Large Construction Vehicles ($34.5M), and Alkylbenzenes and Alkylnaphthalenes ($32.2M). During the last 5 years the exports of South Korea to Colombia have increased at an annualized rate of 0.042%, from $855M in 2018 to $857M in 2023.

In 2018, Colombia exported $825M to South Korea. The main products exported from Colombia to South Korea were Coal Briquettes ($553M), Coffee ($136M), and Ferroalloys ($42.7M). During the last 5 years the exports of Colombia to South Korea have increased at an annualized rate of 2.3%, from $688M in 2023 to $825M in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Colombia
Top DestinationUnited States$14.8B

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

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

In 2023, countries that imported more from Colombia than South Korea included Panama ($4.66B), Ecuador ($2.19B), and Venezuela ($673M).

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

Comparative Advantage South Korea - Colombia

Flow
Scale

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

During 2023, South Korea had a large net trade with Colombia in the exports of Plastics and Rubbers ($183M), Transportation ($166M), and Machines ($153M).

During 2018, Colombia had a large net trade with South Korea in the exports of Mineral Products ($559M), Vegetable Products ($158M), and Metals ($78.2M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Colombia+$81.5MCars
Top Product Potential Colombia South Korea+$151MCoal Briquettes

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

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

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