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2022
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Exports $7.08BRnk 20 / 220
2022
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Top Product $2.25BCars
2022
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Exports $5.88BRnk 21 / 224
2022
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Top Product $968MCrude Petroleum
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 1.42Rnk 12 / 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$3.07TCURRENT US$
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2012-2022
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GDP GROWTH13.5%CURRENT US$
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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$45,850CURRENT US$
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2012-2022
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GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186

About

South Korea-United Kingdom In 2022, South Korea exported $7.08B to United Kingdom. The main products that South Korea exported to United Kingdom are Cars ($2.25B), Broadcasting Equipment ($563M), and Platinum ($295M). During the last 27 years the exports of South Korea to United Kingdom have increased at an annualized rate of 3.25%, from $2.98B in 1995 to $7.08B in 2022.

In 2005, South Korea exported services to United Kingdom worth $1.82B, with Transportation ($656M), Other business services ($515M), and Services not allocated ($409M) being the largest in terms of value.

United Kingdom-South Korea In 2022, United Kingdom exported $5.88B to South Korea. The main products that United Kingdom exported to South Korea were Crude Petroleum ($968M), Cars ($642M), and Platinum ($395M). During the last 27 years the exports of United Kingdom to South Korea have increased at an annualized rate of 3.5%, from $2.32B in 1995 to $5.88B in 2022.

In 2019, United Kingdom exported services to South Korea worth $2.87B, with Other business services ($1.38B), Transportation ($384M), and Royalties and license fees ($334M) 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, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B).

Latest Trends

March, 2024

About

Overview In March 2024, South Korea exported $543M and imported $463M from United Kingdom, resulting in a positive trade balance of $80.2M. Between March 2023 and March 2024 the exports of South Korea have decreased by $-34.6M (-5.99%) from $578M to $543M, while imports increased by $21.2M (4.79%) from $442M to $463M.

Trade In March 2024, the top exports of South Korea to United Kingdom were Cars, tractors, trucks & parts thereof. ($203M), Machinery, mechanical appliances, & parts ($69.7M), Electrical machinery and electronics ($39.8M), Plastics & articles thereof ($24.4M), and Precious stones, metals, & pearls ($23.3M). In March 2024 the top imports of South Korea from United Kingdom were Cars, tractors, trucks & parts thereof. ($124M), Machinery, mechanical appliances, & parts ($47.5M), Precious stones, metals, & pearls ($29.5M), Optical, photo, & film equipment; medical... ($28.6M), and Pharmaceutical products ($25.2M).

Growth In March 2024, the decrease in South Korea's year-by-year exports to United Kingdom was explained primarily by an decrease in product exports in Cars, tractors, trucks & parts thereof. ($-22.4M or -9.93%), Iron & steel ($-8.4M or -31.9%), and Aircraft and spacecraft ($-7.56M or -33.2%). In March 2024, the increase in South Korea's year-by-year imports  from United Kingdom was explained primarily by an increase in product imports  in Cars, tractors, trucks & parts thereof. ($80.5M or 183%), Precious stones, metals, & pearls ($4.1M or 16.1%), and Electrical machinery and electronics ($2.48M or 11.1%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (March 2023 - March 2024)$-34.6M(-5.99%)
IMPORT GROWTH (March 2023 - March 2024)$21.2M(4.79%)

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 United Kingdom 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 $7.08B to United Kingdom. The main products exported from South Korea to United Kingdom were Cars ($2.25B), Broadcasting Equipment ($563M), and Platinum ($295M). During the last 27 years the exports of South Korea to United Kingdom have increased at an annualized rate of 3.25%, from $2.98B in 1995 to $7.08B in 2022.

In 2022, United Kingdom exported $5.88B to South Korea. The main products exported from United Kingdom to South Korea were Crude Petroleum ($968M), Cars ($642M), and Platinum ($395M). During the last 27 years the exports of United Kingdom to South Korea have increased at an annualized rate of 3.5%, from $2.32B in 1995 to $5.88B in 2022.

Exports from South Korea (Flag) to United Kingdom (Flag) (2022)

Exports from United Kingdom (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
United Kingdom
Top DestinationUnited States$61.8B

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

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

In 2021, countries that imported more from United Kingdom than South Korea were Netherlands ($41.9B), Ireland ($32.6B), and Germany ($40.6B).

Difference in imports from United Kingdom (Flag) and South Korea (Flag) (2022)

Comparative Advantage South Korea - United Kingdom

Flow
Scale

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

During 2022, South Korea had a large net trade with United Kingdom in the exports of Transportation ($2.7B), Machines ($1.9B), and Chemical Products ($489M).

During 2022, United Kingdom had a large net trade with South Korea in the exports of Machines ($1.14B), Mineral Products ($983M), and Transportation ($806M).

Service Trade

Bilateral Service Trade

In 2005, South Korea exported services to United Kingdom worth $1.82B, with Transportation ($656M), Other business services ($515M), and Services not allocated ($409M) being the largest in terms of value.

In 2019, United Kingdom exported services to South Korea worth $2.87B, with Other business services ($1.38B), Transportation ($384M), and Royalties and license fees ($334M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to United Kingdom (Flag) (2005)

Services Exports from United Kingdom (Flag) to South Korea (Flag) (2019)

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

Product Space of South Korea (Flag) and United Kingdom (Flag) (2022)

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