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2022
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Exports $519MRnk 68 / 220
2022
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Top Product $120MCars
2022
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Exports $989MRnk 23 / 207
2022
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Top Product $165MRaw Nickel
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 1.41Rnk 13 / 133
2022
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GDP$1.67TCURRENT US$
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2012-2022
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GDP GROWTH30.3%CURRENT US$
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2022
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 GDP$281BCURRENT US$
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2012-2022
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GDP GROWTH8.73%CURRENT US$
Rnk 147 / 186
2022
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GDP PC $32,255CURRENT US$
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2012-2022
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GDP PC GROWTH26.7%CURRENT US$
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2022
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GDP PC$50,537CURRENT US$
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2012-2022
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GDP PC GROWTH5.93%CURRENT US$
Rnk 127 / 186

About

South Korea-Finland Trade: In 2022, South Korea exported $519M to Finland. The main products that South Korea exported to Finland were Cars ($120M), Electric Batteries ($82.4M), and Large Construction Vehicles ($38.3M). Over the past 5 years the exports of South Korea to Finland have increased at an annualized rate of 0.65%, from $502M in 2017 to $519M in 2022.

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 2022, Finland exported $989M to South Korea. The main products that Finland exported to South Korea were Raw Nickel ($165M), Electric Motors ($137M), and Electric Motor Parts ($49.8M). Over the past 5 years the exports of Finland to South Korea have increased at an annualized rate of 1.38%,  from $924M in 2017 to $989M in 2022.

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 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B).

Latest Trends

August, 2024

About

Overview In August 2024, South Korea exported $38.4M and imported $68.9M from Finland, resulting in a negative trade balance of $30.5M. Between August 2023 and August 2024 the exports of South Korea have increased by $2.03M (5.59%) from $36.4M to $38.4M, while imports decreased by $-17.3M (-20.1%) from $86.3M to $68.9M.

Trade In August 2024, the top exports of South Korea to Finland were Cars, tractors, trucks & parts thereof. ($12.5M), Electrical machinery and electronics ($3.7M), Machinery, mechanical appliances, & parts ($2.37M), Optical, photo, & film equipment; medical... ($1.85M), and Plastics & articles thereof ($1.44M). In August 2024 the top imports of South Korea from Finland were Nickel articles ($14.4M), Inorganic chemicals ($9.7M), Electrical machinery and electronics ($9.25M), Wood pulp & paper scrap ($5.71M), and Machinery, mechanical appliances, & parts ($4.74M).

Growth In August 2024, the increase in South Korea's year-by-year exports to Finland was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($3.03M or 31.9%), Electrical machinery and electronics ($1.93M or 109%), and Iron or steel articles ($1.26M or 1.4k%). In August 2024, the decrease in South Korea's year-by-year imports  from Finland was explained primarily by an decrease in product imports  in Machinery, mechanical appliances, & parts ($-19M or -80%), Electrical machinery and electronics ($-8.45M or -47.7%), and Nickel articles ($-2.79M or -16.2%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$2.03M(5.59%)
IMPORT GROWTH (August 2023 - August 2024)$-17.3M(-20.1%)

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 2022, South Korea exported $519M to Finland. The main products exported from South Korea to Finland were Cars ($120M), Electric Batteries ($82.4M), and Large Construction Vehicles ($38.3M). During the last 5 years the exports of South Korea to Finland have increased at an annualized rate of 0.65%, from $502M in 2017 to $519M in 2022.

In 2017, Finland exported $989M to South Korea. The main products exported from Finland to South Korea were Raw Nickel ($165M), Electric Motors ($137M), and Electric Motor Parts ($49.8M). During the last 5 years the exports of Finland to South Korea have increased at an annualized rate of 1.38%, from $924M in 2022 to $989M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Finland
Top DestinationGermany$9.99B

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

In 2022, countries that imported more from Finland than South Korea included Sweden ($9.1B), Estonia ($3.58B), and Norway ($2.35B).

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

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 2022, South Korea had a large net trade with Finland in the exports of Machines ($212M), Transportation ($124M), and Metals ($50.3M).

During 2017, Finland had a large net trade with South Korea in the exports of Machines ($396M), Metals ($238M), and Chemical Products ($109M).

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) (2022)

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