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2022
Flag → Flag
Exports $424MRnk 74 / 220
2022
Flag → Flag
Top Product $48MCars
2022
Flag → Flag
Exports $167MRnk 14 / 162
2022
Flag → Flag
Top Product $69.9MFerroalloys
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI -0.2Rnk 76 / 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$95BCURRENT US$
Rnk 68 / 186
2012-2022
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GDP GROWTH91.6%CURRENT US$
Rnk 17 / 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$5,473CURRENT US$
Rnk 107 / 186
2012-2022
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GDP PC GROWTH63.1%CURRENT US$
Rnk 22 / 186

About

South Korea-Guatemala Trade: In 2022, South Korea exported $424M to Guatemala. The main products that South Korea exported to Guatemala were Cars ($48M), Refined Petroleum ($36.7M), and Flat Flat-Rolled Steel ($35.6M). Over the past 5 years the exports of South Korea to Guatemala have increased at an annualized rate of 7.69%, from $293M in 2017 to $424M in 2022.

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

Guatemala-South Korea Trade: In 2022, Guatemala exported $167M to South Korea. The main products that Guatemala exported to South Korea were Ferroalloys ($69.9M), Coffee ($64.6M), and Scrap Aluminium ($5.72M). Over the past 5 years the exports of Guatemala to South Korea have increased at an annualized rate of 5.71%,  from $101M in 2017 to $167M in 2022.

In 2022, Guatemala 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, Guatemala ranked 76 in the Economic Complexity Index (ECI -0.2), and 84 in total exports ($16.4B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $22.1M and imported $10.6M from Guatemala, resulting in a positive trade balance of $11.5M. Between October 2023 and October 2024 the exports of South Korea have increased by $3.72M (20.2%) from $18.4M to $22.1M, while imports increased by $3.42M (47.5%) from $7.19M to $10.6M.

Trade In October 2024, the top exports of South Korea to Guatemala were Cars, tractors, trucks & parts thereof. ($5.76M), Plastics & articles thereof ($1.94M), Machinery, mechanical appliances, & parts ($1.89M), Chemical products n.e.s. ($1.2M), and Paints, dyes, & varnishes ($1.07M). In October 2024 the top imports of South Korea from Guatemala were Coffee, tea, mate & spices ($1.96M), Edible fruits, nuts & fruit peels ($1.45M), Aluminum articles ($872k), Copper articles ($281k), and Knitted clothing accesories ($222k).

Growth In October 2024, the increase in South Korea's year-by-year exports to Guatemala was explained primarily by an increase in product exports in Organic chemicals ($701k or 276%), Rubber & articles thereof ($436k or 77.4%), and Pharmaceutical products ($238k or 46.4%). In October 2024, the increase in South Korea's year-by-year imports  from Guatemala was explained primarily by an increase in product imports  in Edible fruits, nuts & fruit peels ($1.2M or 497%), Aluminum articles ($674k or 340%), and Non-knitted clothing accesories ($96k or 213%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$3.72M(20.2%)
IMPORT GROWTH (October 2023 - October 2024)$3.42M(47.5%)

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

For full datasets download visit Bulk Download page.

Explore Guatemala and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $424M to Guatemala. The main products exported from South Korea to Guatemala were Cars ($48M), Refined Petroleum ($36.7M), and Flat Flat-Rolled Steel ($35.6M). During the last 5 years the exports of South Korea to Guatemala have increased at an annualized rate of 7.69%, from $293M in 2017 to $424M in 2022.

In 2017, Guatemala exported $167M to South Korea. The main products exported from Guatemala to South Korea were Ferroalloys ($69.9M), Coffee ($64.6M), and Scrap Aluminium ($5.72M). During the last 5 years the exports of Guatemala to South Korea have increased at an annualized rate of 5.71%, from $101M in 2022 to $167M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Guatemala
Top DestinationUnited States$5.23B

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

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

In 2022, countries that imported more from Guatemala than South Korea included El Salvador ($2.03B), Honduras ($1.58B), and Nicaragua ($1B).

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

Comparative Advantage South Korea - Guatemala

Flow
Scale

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

During 2022, South Korea had a large net trade with Guatemala in the exports of Transportation ($87.5M), Chemical Products ($66M), and Machines ($60.6M).

During 2017, Guatemala had a large net trade with South Korea in the exports of Metals ($79.8M), Vegetable Products ($68.4M), and Chemical Products ($5.21M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Guatemala+$42.5MRefined Petroleum
Top Product Potential Guatemala South Korea+$6.1MBananas

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

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

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