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2023
Flag → Flag
Exports $10.5BRnk 12 / 142
2023
Flag → Flag
Top Product $941MRefined Petroleum
2023
Flag → Flag
Exports $10.3BRnk 8 / 213
2023
Flag → Flag
Top Product $2.24BCoal Briquettes
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI -0.085Rnk 65 / 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$1.37TCURRENT US$
Rnk 16 / 195
2013-2023
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GDP GROWTH50.3%CURRENT US$
Rnk 75 / 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$4,876CURRENT US$
Rnk 123 / 196
2013-2023
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GDP PC GROWTH36.7%CURRENT US$
Rnk 66 / 195

About

South Korea-Indonesia Trade: In 2023, South Korea exported $10.5B to Indonesia. The main products that South Korea exported to Indonesia were Refined Petroleum ($941M), Integrated Circuits ($890M), and Cars ($472M). Over the past 5 years the exports of South Korea to Indonesia have increased at an annualized rate of 3.16%, from $9B in 2018 to $10.5B in 2023.

In 2005, South Korea exported services to Indonesia worth $473M, with Transportation ($314M), Other business services ($60.1M), and Services not allocated ($48.7M) being the largest in terms of value.

Indonesia-South Korea Trade: In 2023, Indonesia exported $10.3B to South Korea. The main products that Indonesia exported to South Korea were Coal Briquettes ($2.24B), Petroleum Gas ($1.44B), and Copper Ore ($1.26B). Over the past 5 years the exports of Indonesia to South Korea have decreased at an annualized rate of 1.59%,  from $11.2B in 2018 to $10.3B in 2023.

In 2023, Indonesia 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, Indonesia ranked 65 in the Economic Complexity Index (ECI -0.085), and 27 in total exports ($299B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $592M and imported $874M from Indonesia, resulting in a negative trade balance of $282M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-71.8M (-10.8%) from $663M to $592M, while imports decreased by $-233M (-21%) from $1.11B to $874M.

Trade In December 2024, the top exports of South Korea to Indonesia were Plastics & articles thereof ($81.5M), Electrical machinery and electronics ($77.6M), Machinery, mechanical appliances, & parts ($66.7M), Iron & steel ($57.1M), and Cars, tractors, trucks & parts thereof. ($37.1M). In December 2024 the top imports of South Korea from Indonesia were Mineral fuels, mineral oils and products... ($629M), Ores, slag and ash ($155M), Electrical machinery and electronics ($70.8M), Precious stones, metals, & pearls ($66.9M), and Wood, wood articles, & charcoal ($34.7M).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Indonesia was explained primarily by an decrease in product exports in Machinery, mechanical appliances, & parts ($-60.7M or -47.7%), Iron & steel ($-26.1M or -31.4%), and Mineral fuels, mineral oils and products... ($-24.7M or -53.2%). In December 2024, the decrease in South Korea's year-by-year imports  from Indonesia was explained primarily by an decrease in product imports  in Mineral fuels, mineral oils and products... ($-73.2M or -10.4%), Animal or vegetable fats, oils, &... ($-28.2M or -61.4%), and Footwear ($-15.1M or -32.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-71.8M(-10.8%)
IMPORT GROWTH (December 2023 - December 2024)$-233M(-21%)

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

For full datasets download visit Bulk Download page.

Explore Indonesia and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $10.5B to Indonesia. The main products exported from South Korea to Indonesia were Refined Petroleum ($941M), Integrated Circuits ($890M), and Cars ($472M). During the last 5 years the exports of South Korea to Indonesia have increased at an annualized rate of 3.16%, from $9B in 2018 to $10.5B in 2023.

In 2018, Indonesia exported $10.3B to South Korea. The main products exported from Indonesia to South Korea were Coal Briquettes ($2.24B), Petroleum Gas ($1.44B), and Copper Ore ($1.26B). During the last 5 years the exports of Indonesia to South Korea have decreased at an annualized rate of 1.59%, from $11.2B in 2023 to $10.3B in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Indonesia
Top DestinationChina$70.7B

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

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

In 2023, countries that imported more from Indonesia than South Korea included Vietnam ($7.54B), India ($24B), and Bangladesh ($3.58B).

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

Comparative Advantage South Korea - Indonesia

Flow
Scale

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

During 2023, South Korea had a large net trade with Indonesia in the exports of Machines ($3.49B), Metals ($1.59B), and Plastics and Rubbers ($1.05B).

During 2018, Indonesia had a large net trade with South Korea in the exports of Mineral Products ($5.36B), Machines ($763M), and Metals ($613M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Indonesia+$488MRefined Petroleum
Top Product Potential Indonesia South Korea+$394MCoal Briquettes

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

Product Space of South Korea (Flag) and Indonesia (Flag) (2023)

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