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2022
Flag → Flag
Exports $13.8MRnk 163 / 220
2022
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Top Product $5.31MIron Structures
2022
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Exports $6.64MRnk 22 / 123
2022
Flag → Flag
Top Product $3.07MScrap Copper
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 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

About

South Korea-Cuba In 2022, South Korea exported $13.8M to Cuba. The main products that South Korea exported to Cuba are Iron Structures ($5.31M), Passenger and Cargo Ships ($1.64M), and Motor vehicles; parts and accessories (8701 to 8705) ($1.37M). During the last 23 years the exports of South Korea to Cuba have decreased at an annualized rate of 6.83%, from $70.3M in 1999 to $13.8M in 2022.

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

Cuba-South Korea In 2022, Cuba exported $6.64M to South Korea. The main products that Cuba exported to South Korea were Scrap Copper ($3.07M), Stearic Acid ($1.96M), and Raw Tobacco ($566k). During the last 23 years the exports of Cuba to South Korea have increased at an annualized rate of 13.4%, from $367k in 1999 to $6.64M in 2022.

In 2022, Cuba 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, Cuba ranked 161 in total exports ($1.07B), and does not have data regarding Economic Complexity Index.

Latest Trends

March, 2024

About

Overview In March 2024, South Korea exported $2.56M and imported $116k from Cuba, resulting in a positive trade balance of $2.44M. Between March 2023 and March 2024 the exports of South Korea have decreased by $-5.87M (-69.6%) from $8.43M to $2.56M, while imports decreased by $-116k (-50%) from $232k to $116k.

Trade In March 2024, the top exports of South Korea to Cuba were Cars, tractors, trucks & parts thereof. ($4k), Machinery, mechanical appliances, & parts ($2k), Beverages, spirits, & vinegar ($0), Tobacco & substitutes ($0), and Ores, slag and ash ($0). In March 2024 the top imports of South Korea from Cuba were Copper articles ($341k), Beverages, spirits, & vinegar ($6k), Tobacco & substitutes ($0), Ores, slag and ash ($0), and Precious stones, metals, & pearls ($0).

Growth In March 2024, the decrease in South Korea's year-by-year exports to Cuba was explained primarily by an decrease in product exports in Machinery, mechanical appliances, & parts ($-951k or -99.8%) and Cars, tractors, trucks & parts thereof. ($-429k or -99.1%). In March 2024, the decrease in South Korea's year-by-year imports  from Cuba was explained primarily by an decrease in product imports  in Tobacco & substitutes ($-627k or -100%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (March 2023 - March 2024)$-5.87M(-69.6%)
IMPORT GROWTH (March 2023 - March 2024)$-116k(-50%)

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 Cuba 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 $13.8M to Cuba. The main products exported from South Korea to Cuba were Iron Structures ($5.31M), Passenger and Cargo Ships ($1.64M), and Motor vehicles; parts and accessories (8701 to 8705) ($1.37M). During the last 23 years the exports of South Korea to Cuba have decreased at an annualized rate of 6.83%, from $70.3M in 1999 to $13.8M in 2022.

In 2022, Cuba exported $6.64M to South Korea. The main products exported from Cuba to South Korea were Scrap Copper ($3.07M), Stearic Acid ($1.96M), and Raw Tobacco ($566k). During the last 24 years the exports of Cuba to South Korea have increased at an annualized rate of 13.4%, from $367k in 1998 to $6.64M in 2022.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Cuba
Top DestinationChina$426M

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

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

In 2021, countries that imported more from Cuba than South Korea were Andorra ($4.23M).

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

Comparative Advantage South Korea - Cuba

Flow
Scale

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

During 2022, South Korea had a large net trade with Cuba in the exports of Metals ($6.25M), Transportation ($3.45M), and Machines ($2.29M).

During 2022, Cuba had a large net trade with South Korea in the exports of Metals ($3.1M), Animal and Vegetable Bi-Products ($2.35M), and Foodstuffs ($1.06M).

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

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

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