2022
Flag  
GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH
30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP
$115BCURRENT US$
Rnk 62 / 186
2012-2022
Flag
GDP GROWTH
30.9%CURRENT US$
Rnk 98 / 186
2022
Flag
GDP PC 
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC
$6,391CURRENT US$
Rnk 101 / 186
2012-2022
Flag
GDP PC GROWTH
12.6%CURRENT US$
Rnk 106 / 186

About

South Korea-Ecuador Trade: In 2022, South Korea exported $1.09B to Ecuador. The main products that South Korea exported to Ecuador were Refined Petroleum ($461M), Coal Tar Oil ($182M), and Cars ($82.4M). Over the past 5 years the exports of South Korea to Ecuador have increased at an annualized rate of 9.58%, from $687M in 2017 to $1.09B in 2022.

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

Ecuador-South Korea Trade: In 2022, Ecuador exported $205M to South Korea. The main products that Ecuador exported to South Korea were Crude Petroleum ($107M), Crustaceans ($63.6M), and Scrap Copper ($19.9M). Over the past 5 years the exports of Ecuador to South Korea have increased at an annualized rate of 11.3%,  from $120M in 2017 to $205M in 2022.

In 2022, Ecuador 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, Ecuador ranked 109 in the Economic Complexity Index (ECI -0.96), and 68 in total exports ($36B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $1.09B to Ecuador. The main products exported from South Korea to Ecuador were Refined Petroleum ($461M), Coal Tar Oil ($182M), and Cars ($82.4M). During the last 5 years the exports of South Korea to Ecuador have increased at an annualized rate of 9.58%, from $687M in 2017 to $1.09B in 2022.

In 2017, Ecuador exported $205M to South Korea. The main products exported from Ecuador to South Korea were Crude Petroleum ($107M), Crustaceans ($63.6M), and Scrap Copper ($19.9M). During the last 5 years the exports of Ecuador to South Korea have increased at an annualized rate of 11.3%, from $120M in 2022 to $205M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top Destination
China$150B
Ecuador
Top Destination
United States$9.86B

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

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

In 2022, countries that imported more from Ecuador than South Korea included Panama ($4.97B), Peru ($1.02B), and Colombia ($1.07B).

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

Comparative Advantage South Korea - Ecuador

Flow
Scale

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

During 2022, South Korea had a large net trade with Ecuador in the exports of Mineral Products ($644M), Transportation ($133M), and Plastics and Rubbers ($78.4M).

During 2017, Ecuador had a large net trade with South Korea in the exports of Mineral Products ($107M), Animal Products ($64.8M), and Metals ($22.1M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Ecuador+$34.9MCars
Top Product Potential Ecuador South Korea+$132MCrude Petroleum

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

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

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

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with