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2022
Flag → Flag
Exports $10.4BRnk 14 / 220
2022
Flag → Flag
Top Product $1.76BRefined Petroleum
2022
Flag → Flag
Exports $15.6BRnk 6 / 216
2022
Flag → Flag
Top Product $4.41BCoal Briquettes
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI -0.012Rnk 67 / 133
2022
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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$1.32TCURRENT US$
Rnk 16 / 186
2012-2022
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GDP GROWTH43.7%CURRENT US$
Rnk 79 / 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$4,788CURRENT US$
Rnk 114 / 186
2012-2022
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GDP PC GROWTH30.5%CURRENT US$
Rnk 62 / 186

About

South Korea-Indonesia Trade: In 2022, South Korea exported $10.4B to Indonesia. The main products that South Korea exported to Indonesia were Refined Petroleum ($1.76B), Integrated Circuits ($540M), and Light Rubberized Knitted Fabric ($312M). Over the past 5 years the exports of South Korea to Indonesia have increased at an annualized rate of 4.83%, from $8.2B in 2017 to $10.4B in 2022.

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 2022, Indonesia exported $15.6B to South Korea. The main products that Indonesia exported to South Korea were Coal Briquettes ($4.41B), Petroleum Gas ($2.44B), and Copper Ore ($1.49B). Over the past 5 years the exports of Indonesia to South Korea have increased at an annualized rate of 7.03%,  from $9.04B in 2017 to $15.6B in 2022.

In 2022, Indonesia 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, Indonesia ranked 67 in the Economic Complexity Index (ECI -0.012), and 26 in total exports ($320B).

Latest Trends

September, 2024

About

Overview In September 2024, South Korea exported $594M and imported $1.11B from Indonesia, resulting in a negative trade balance of $517M. Between September 2023 and September 2024 the exports of South Korea have decreased by $-162M (-21.4%) from $755M to $594M, while imports increased by $123M (12.4%) from $988M to $1.11B.

Trade In September 2024, the top exports of South Korea to Indonesia were Machinery, mechanical appliances, & parts ($127M), Electrical machinery and electronics ($89M), Iron & steel ($83.2M), Plastics & articles thereof ($60.8M), and Mineral fuels, mineral oils and products... ($46.4M). In September 2024 the top imports of South Korea from Indonesia were Mineral fuels, mineral oils and products... ($702M), Ores, slag and ash ($166M), Electrical machinery and electronics ($54.1M), Footwear ($46M), and Animal or vegetable fats, oils, &... ($46M).

Growth In September 2024, the decrease in South Korea's year-by-year exports to Indonesia was explained primarily by an decrease in product exports in Mineral fuels, mineral oils and products... ($-105M or -69.4%), Plastics & articles thereof ($-58.9M or -49.2%), and Knitted fabrics ($-17.6M or -49%). In September 2024, the increase in South Korea's year-by-year imports  from Indonesia was explained primarily by an increase in product imports  in Mineral fuels, mineral oils and products... ($109M or 18.5%), Animal or vegetable fats, oils, &... ($13.3M or 40.6%), and Paper articles ($9.15M or 54.4%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (September 2023 - September 2024)$-162M(-21.4%)
IMPORT GROWTH (September 2023 - September 2024)$123M(12.4%)

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 2022, South Korea exported $10.4B to Indonesia. The main products exported from South Korea to Indonesia were Refined Petroleum ($1.76B), Integrated Circuits ($540M), and Light Rubberized Knitted Fabric ($312M). During the last 5 years the exports of South Korea to Indonesia have increased at an annualized rate of 4.83%, from $8.2B in 2017 to $10.4B in 2022.

In 2017, Indonesia exported $15.6B to South Korea. The main products exported from Indonesia to South Korea were Coal Briquettes ($4.41B), Petroleum Gas ($2.44B), and Copper Ore ($1.49B). During the last 5 years the exports of Indonesia to South Korea have increased at an annualized rate of 7.03%, from $9.04B in 2022 to $15.6B in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Indonesia
Top DestinationChina$67.7B

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

In 2022, countries that imported more from Indonesia than South Korea included India ($25.3B), Malaysia ($15.6B), and Pakistan ($4.55B).

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

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 2022, South Korea had a large net trade with Indonesia in the exports of Machines ($2.32B), Mineral Products ($1.81B), and Metals ($1.7B).

During 2017, Indonesia had a large net trade with South Korea in the exports of Mineral Products ($8.73B), Metals ($1.07B), and Animal and Vegetable Bi-Products ($879M).

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) (2022)

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