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Pricing

2022
Flag → Flag
Exports $209MRnk 94 / 220
2022
Flag → Flag
Top Product $22.2MEthylene Polymers
2022
Flag → Flag
Exports $35.4MRnk 30 / 133
2022
Flag → Flag
Top Product $9.91MCocoa Beans
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI -1.32Rnk 122 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$72.8BCURRENT US$
Rnk 77 / 186
2012-2022
Flag
GDP GROWTH76.5%CURRENT US$
Rnk 26 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$2,176CURRENT US$
Rnk 147 / 186
2012-2022
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GDP PC GROWTH41.6%CURRENT US$
Rnk 46 / 186

About

South Korea-Ghana Trade: In 2022, South Korea exported $209M to Ghana. The main products that South Korea exported to Ghana were Ethylene Polymers ($22.2M), Non-fillet Frozen Fish ($21.8M), and Acrylic Polymers ($21.2M). Over the past 5 years the exports of South Korea to Ghana have decreased at an annualized rate of 5.42%, from $277M in 2017 to $209M in 2022.

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

Ghana-South Korea Trade: In 2022, Ghana exported $35.4M to South Korea. The main products that Ghana exported to South Korea were Cocoa Beans ($9.91M), Paintings ($9.71M), and Scrap Copper ($8.32M). Over the past 5 years the exports of Ghana to South Korea have decreased at an annualized rate of 3.82%,  from $43M in 2017 to $35.4M in 2022.

In 2022, Ghana 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, Ghana ranked 122 in the Economic Complexity Index (ECI -1.32), and 79 in total exports ($20B).

Latest Trends

August, 2024

About

Overview In August 2024, South Korea exported $13.7M and imported $11.2M from Ghana, resulting in a positive trade balance of $2.45M. Between August 2023 and August 2024 the exports of South Korea have increased by $862k (6.73%) from $12.8M to $13.7M, while imports increased by $9.65M (618%) from $1.56M to $11.2M.

Trade In August 2024, the top exports of South Korea to Ghana were Fish, crustaceans, & molluscs ($3.49M), Plastics & articles thereof ($2.79M), Cars, tractors, trucks & parts thereof. ($2.44M), Inorganic chemicals ($1.48M), and Machinery, mechanical appliances, & parts ($781k). In August 2024 the top imports of South Korea from Ghana were Cocoa & cocoa preparations ($819k), Copper articles ($553k), Precious stones, metals, & pearls ($175k), Aluminum articles ($145k), and Electrical machinery and electronics ($26k).

Growth In August 2024, the increase in South Korea's year-by-year exports to Ghana was explained primarily by an increase in product exports in Inorganic chemicals ($604k or 69.1%), Books, newspapers, & other prints ($84k or 1.68k%), and Paper articles ($80k or 31.5%). In August 2024, the increase in South Korea's year-by-year imports  from Ghana was explained primarily by an increase in product imports  in Cocoa & cocoa preparations ($670k or 450%), Aluminum articles ($99k or 215%), and Precious stones, metals, & pearls ($85k or 94.4%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$862k(6.73%)
IMPORT GROWTH (August 2023 - August 2024)$9.65M(618%)

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

For full datasets download visit Bulk Download page.

Explore Ghana and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $209M to Ghana. The main products exported from South Korea to Ghana were Ethylene Polymers ($22.2M), Non-fillet Frozen Fish ($21.8M), and Acrylic Polymers ($21.2M). During the last 5 years the exports of South Korea to Ghana have decreased at an annualized rate of 5.42%, from $277M in 2017 to $209M in 2022.

In 2017, Ghana exported $35.4M to South Korea. The main products exported from Ghana to South Korea were Cocoa Beans ($9.91M), Paintings ($9.71M), and Scrap Copper ($8.32M). During the last 5 years the exports of Ghana to South Korea have decreased at an annualized rate of 3.82%, from $43M in 2022 to $35.4M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Ghana
Top DestinationUnited Arab Emirates$4.72B

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

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

In 2022, countries that imported more from Ghana than South Korea included Switzerland ($3.37B), United Arab Emirates ($4.72B), and Burkina Faso ($285M).

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

Comparative Advantage South Korea - Ghana

Flow
Scale

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

During 2022, South Korea had a large net trade with Ghana in the exports of Plastics and Rubbers ($74.8M), Transportation ($34.6M), and Chemical Products ($26.9M).

During 2017, Ghana had a large net trade with South Korea in the exports of Foodstuffs ($11.7M), Arts and Antiques ($9.71M), and Metals ($9.35M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Ghana+$12.4MCars
Top Product Potential Ghana South Korea+$5.05MScrap Copper

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 Ghana. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Ghana. Similarly, a dot/product with the flag of Ghana indicates it has a comparative advantage over South Korea.

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

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