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2023
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Exports $826MRnk 47 / 142
2023
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Top Product $217MCars
2023
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Exports $776MRnk 24 / 206
2023
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Top Product $176MRaw Nickel
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 1.46Rnk 13 / 132
2023
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GDP$1.71TCURRENT US$
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2013-2023
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GDP GROWTH25%CURRENT US$
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2023
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 GDP$296BCURRENT US$
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2013-2023
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GDP GROWTH9.35%CURRENT US$
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2023
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GDP PC $33,121CURRENT US$
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2013-2023
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GDP PC GROWTH21.9%CURRENT US$
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2023
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GDP PC$52,926CURRENT US$
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2013-2023
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GDP PC GROWTH6.51%CURRENT US$
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About

South Korea-Finland Trade: In 2023, South Korea exported $826M to Finland. The main products that South Korea exported to Finland were Cars ($217M), Electric Batteries ($187M), and Integrated Circuits ($56.2M). Over the past 5 years the exports of South Korea to Finland have decreased at an annualized rate of 1.47%, from $890M in 2018 to $826M in 2023.

In 2005, South Korea exported services to Finland worth $148M, with Transportation ($114M), Other business services ($23M), and Travel ($6.7M) being the largest in terms of value.

Finland-South Korea Trade: In 2023, Finland exported $776M to South Korea. The main products that Finland exported to South Korea were Raw Nickel ($176M), Electric Motors ($75.6M), and Electrical Transformers ($54.9M). Over the past 5 years the exports of Finland to South Korea have decreased at an annualized rate of 7.21%,  from $1.13B in 2018 to $776M in 2023.

In 2020, Finland exported services to South Korea worth $195M, with Computer and information services ($112M), Transportation ($36.6M), and Other business services ($36.6M) being the largest in terms of value.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B).

Latest Trends

January, 2025

About

Overview In January 2025, South Korea exported $45.7M and imported $70.5M from Finland, resulting in a negative trade balance of $24.7M. Between January 2024 and January 2025 the exports of South Korea have increased by $19M (71.1%) from $26.7M to $45.7M, while imports decreased by $-10.6M (-13.1%) from $81.1M to $70.5M.

Trade In January 2025, the top exports of South Korea to Finland were Cars, tractors, trucks & parts thereof. ($9.16M), Machinery, mechanical appliances, & parts ($5.08M), Electrical machinery and electronics ($4.78M), Optical, photo, & film equipment; medical... ($1.3M), and Plastics & articles thereof ($1.14M). In January 2025 the top imports of South Korea from Finland were Electrical machinery and electronics ($18.9M), Nickel articles ($14.5M), Inorganic chemicals ($14M), Machinery, mechanical appliances, & parts ($12.1M), and Optical, photo, & film equipment; medical... ($4.57M).

Growth In January 2025, the increase in South Korea's year-by-year exports to Finland was explained primarily by an increase in product exports in Machinery, mechanical appliances, & parts ($2.7M or 114%), Electrical machinery and electronics ($1.08M or 29.3%), and Perfumery & cosmetics ($443k or 78.4%). In January 2025, the decrease in South Korea's year-by-year imports  from Finland was explained primarily by an decrease in product imports  in Wood pulp & paper scrap ($-2.34M or -40.9%), Organic chemicals ($-1.32M or -68.4%), and Iron & steel ($-929k or -68.1%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (January 2024 - January 2025)$19M(71.1%)
IMPORT GROWTH (January 2024 - January 2025)$-10.6M(-13.1%)

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

For full datasets download visit Bulk Download page.

Explore Finland and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $826M to Finland. The main products exported from South Korea to Finland were Cars ($217M), Electric Batteries ($187M), and Integrated Circuits ($56.2M). During the last 5 years the exports of South Korea to Finland have decreased at an annualized rate of 1.47%, from $890M in 2018 to $826M in 2023.

In 2018, Finland exported $776M to South Korea. The main products exported from Finland to South Korea were Raw Nickel ($176M), Electric Motors ($75.6M), and Electrical Transformers ($54.9M). During the last 5 years the exports of Finland to South Korea have decreased at an annualized rate of 7.21%, from $1.13B in 2023 to $776M in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Finland
Top DestinationUnited States$9.68B

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

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

In 2023, countries that imported more from Finland than South Korea included Sweden ($8.13B), Estonia ($2.4B), and Norway ($2.38B).

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

Comparative Advantage South Korea - Finland

Flow
Scale

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

During 2023, South Korea had a large net trade with Finland in the exports of Machines ($395M), Transportation ($223M), and Chemical Products ($77.9M).

During 2018, Finland had a large net trade with South Korea in the exports of Machines ($327M), Metals ($217M), and Paper Goods ($56M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Finland+$66.8MCars
Top Product Potential Finland South Korea+$15.3MTelephones

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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Bilateral Service Trade

In 2005, South Korea exported services to Finland worth $148M, with Transportation ($114M), Other business services ($23M), and Travel ($6.7M) being the largest in terms of value.

In 2020, Finland exported services to South Korea worth $195M, with Computer and information services ($112M), Transportation ($36.6M), and Other business services ($36.6M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Finland (Flag) (2005)

Services Exports from Finland (Flag) to South Korea (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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