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2023
Flag → Flag
Exports $467MRnk 64 / 142
2023
Flag → Flag
Top Product $74.9MRefined Petroleum
2023
Flag → Flag
Exports $66.5MRnk 29 / 170
2023
Flag → Flag
Top Product $47.4MCoffee
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI -0.21Rnk 73 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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 GDP$104BCURRENT US$
Rnk 68 / 195
2013-2023
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GDP GROWTH97.1%CURRENT US$
Rnk 16 / 195
2023
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GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$5,763CURRENT US$
Rnk 117 / 196
2013-2023
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GDP PC GROWTH67.3%CURRENT US$
Rnk 27 / 195

About

South Korea-Guatemala Trade: In 2023, South Korea exported $467M to Guatemala. The main products that South Korea exported to Guatemala were Refined Petroleum ($74.9M), Cars ($64.5M), and Flat Flat-Rolled Steel ($39.4M). Over the past 5 years the exports of South Korea to Guatemala have increased at an annualized rate of 8.57%, from $310M in 2018 to $467M in 2023.

In 2023, South Korea did not export any services to Guatemala.

Guatemala-South Korea Trade: In 2023, Guatemala exported $66.5M to South Korea. The main products that Guatemala exported to South Korea were Coffee ($47.4M), Nickel Ore ($5.58M), and Scrap Aluminium ($4.11M). Over the past 5 years the exports of Guatemala to South Korea have decreased at an annualized rate of 3.59%,  from $79.8M in 2018 to $66.5M in 2023.

In 2023, Guatemala did not export any services to South Korea.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Guatemala ranked 73 in the Economic Complexity Index (ECI -0.21), and 86 in total exports ($15.4B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $19.5M and imported $6.74M from Guatemala, resulting in a positive trade balance of $12.8M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-39.9M (-67.1%) from $59.4M to $19.5M, while imports increased by $929k (16%) from $5.81M to $6.74M.

Trade In December 2024, the top exports of South Korea to Guatemala were Cars, tractors, trucks & parts thereof. ($8.84M), Plastics & articles thereof ($3.58M), Machinery, mechanical appliances, & parts ($3.52M), Chemical products n.e.s. ($1.7M), and Paints, dyes, & varnishes ($1.11M). In December 2024 the top imports of South Korea from Guatemala were Coffee, tea, mate & spices ($2.68M), Aluminum articles ($1.98M), Copper articles ($1.04M), Knitted clothing accesories ($641k), and Edible fruits, nuts & fruit peels ($463k).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Guatemala was explained primarily by an decrease in product exports in Rubber & articles thereof ($-697k or -69.8%), Tobacco & substitutes ($-392k or -43.9%), and Cotton ($-360k or -41.9%). In December 2024, the increase in South Korea's year-by-year imports  from Guatemala was explained primarily by an increase in product imports  in Aluminum articles ($1.11M or 128%), Copper articles ($757k or 269%), and Coffee, tea, mate & spices ($716k or 36.5%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-39.9M(-67.1%)
IMPORT GROWTH (December 2023 - December 2024)$929k(16%)

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 2023, South Korea exported $467M to Guatemala. The main products exported from South Korea to Guatemala were Refined Petroleum ($74.9M), Cars ($64.5M), and Flat Flat-Rolled Steel ($39.4M). During the last 5 years the exports of South Korea to Guatemala have increased at an annualized rate of 8.57%, from $310M in 2018 to $467M in 2023.

In 2018, Guatemala exported $66.5M to South Korea. The main products exported from Guatemala to South Korea were Coffee ($47.4M), Nickel Ore ($5.58M), and Scrap Aluminium ($4.11M). During the last 5 years the exports of Guatemala to South Korea have decreased at an annualized rate of 3.59%, from $79.8M in 2023 to $66.5M in 2018.

Exports from South Korea (Flag) to Guatemala (Flag) (2023)

Exports from Guatemala (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Guatemala
Top DestinationUnited States$5.16B

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 2023, countries that imported more from South Korea than Guatemala included China ($162B), United States ($118B), and Hong Kong ($28.8B).

In 2023, countries that imported more from Guatemala than South Korea included El Salvador ($1.73B), Honduras ($1.42B), and Nicaragua ($939M).

Difference in imports from Guatemala (Flag) and South Korea (Flag) (2023)

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 2023, South Korea had a large net trade with Guatemala in the exports of Transportation ($121M), Mineral Products ($81.5M), and Machines ($61.4M).

During 2018, Guatemala had a large net trade with South Korea in the exports of Vegetable Products ($49.9M), Metals ($7.07M), and Mineral Products ($5.58M).

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) (2023)

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