2022
Flag  
GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH
30.3%CURRENT US$
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2022
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 GDP
$24.6BCURRENT US$
Rnk 109 / 186
2012-2022
Flag
GDP GROWTH
49.2%CURRENT US$
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2022
Flag
GDP PC 
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC
$6,628CURRENT US$
Rnk 99 / 186
2012-2022
Flag
GDP PC GROWTH
49.9%CURRENT US$
Rnk 36 / 186

About

South Korea-Georgia Trade: In 2022, South Korea exported $112M to Georgia. The main products that South Korea exported to Georgia were Cars ($28.6M), Large Construction Vehicles ($16.6M), and Coated Flat-Rolled Iron ($13.2M). Over the past 5 years the exports of South Korea to Georgia have increased at an annualized rate of 5.45%, from $85.6M in 2017 to $112M in 2022.

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

Georgia-South Korea Trade: In 2022, Georgia exported $17.1M to South Korea. The main products that Georgia exported to South Korea were Copper Ore ($3.86M), Other Isotopes ($2.78M), and Precipitated Copper ($1.55M). Over the past 5 years the exports of Georgia to South Korea have decreased at an annualized rate of 14.8%,  from $38.1M in 2017 to $17.1M in 2022.

In 2022, Georgia 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, Georgia ranked 64 in the Economic Complexity Index (ECI 0.036), and 118 in total exports ($6.82B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $112M to Georgia. The main products exported from South Korea to Georgia were Cars ($28.6M), Large Construction Vehicles ($16.6M), and Coated Flat-Rolled Iron ($13.2M). During the last 5 years the exports of South Korea to Georgia have increased at an annualized rate of 5.45%, from $85.6M in 2017 to $112M in 2022.

In 2017, Georgia exported $17.1M to South Korea. The main products exported from Georgia to South Korea were Copper Ore ($3.86M), Other Isotopes ($2.78M), and Precipitated Copper ($1.55M). During the last 5 years the exports of Georgia to South Korea have decreased at an annualized rate of 14.8%, from $38.1M in 2022 to $17.1M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top Destination
China$150B
Georgia
Top Destination
China$759M

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

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

In 2022, countries that imported more from Georgia than South Korea included Armenia ($571M), Azerbaijan ($668M), and Bulgaria ($502M).

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

Comparative Advantage South Korea - Georgia

Flow
Scale

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

During 2022, South Korea had a large net trade with Georgia in the exports of Transportation ($33.1M), Machines ($23.8M), and Plastics and Rubbers ($14.5M).

During 2017, Georgia had a large net trade with South Korea in the exports of Chemical Products ($4.9M), Mineral Products ($3.87M), and Textiles ($2.55M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Georgia+$29.8MCars
Top Product Potential Georgia South Korea+$1.66MKnit T-shirts

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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Economic Complexity

Competitive Landscape

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

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

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