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2022
Flag → Flag
Exports $20.6BRnk 8 / 220
2022
Flag → Flag
Top Product $2.23BIntegrated Circuits
2022
Flag → Flag
Exports $8.2BRnk 18 / 217
2022
Flag → Flag
Top Product $2.58BRefined Petroleum
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 0.64Rnk 40 / 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$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
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GDP GROWTH85.2%CURRENT US$
Rnk 24 / 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$2,389CURRENT US$
Rnk 140 / 186
2012-2022
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GDP PC GROWTH66.6%CURRENT US$
Rnk 20 / 186

About

South Korea-India Trade: In 2022, South Korea exported $20.6B to India. The main products that South Korea exported to India were Integrated Circuits ($2.23B), Special Purpose Ships ($1.96B), and Refined Petroleum ($941M). Over the past 5 years the exports of South Korea to India have increased at an annualized rate of 5.95%, from $15.4B in 2017 to $20.6B in 2022.

In 2005, South Korea exported services to India worth $475M, with Transportation ($299M), Services not allocated ($82.3M), and Travel ($56.3M) being the largest in terms of value.

India-South Korea Trade: In 2022, India exported $8.2B to South Korea. The main products that India exported to South Korea were Refined Petroleum ($2.58B), Raw Aluminium ($1.34B), and Raw Lead ($252M). Over the past 5 years the exports of India to South Korea have increased at an annualized rate of 7.05%,  from $4.75B in 2017 to $8.2B in 2022.

In 2022, India 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, India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $1.51B and imported $560M from India, resulting in a positive trade balance of $947M. Between October 2023 and October 2024 the exports of South Korea have decreased by $-22M (-1.44%) from $1.53B to $1.51B, while imports decreased by $-39.2M (-6.54%) from $600M to $560M.

Trade In October 2024, the top exports of South Korea to India were Electrical machinery and electronics ($282M), Plastics & articles thereof ($186M), Iron & steel ($175M), Machinery, mechanical appliances, & parts ($167M), and Mineral fuels, mineral oils and products... ($120M). In October 2024 the top imports of South Korea from India were Mineral fuels, mineral oils and products... ($167M), Organic chemicals ($67.6M), Aluminum articles ($63.1M), Machinery, mechanical appliances, & parts ($24.6M), and Food residues & wastes; animal fodder ($18.8M).

Growth In October 2024, the decrease in South Korea's year-by-year exports to India was explained primarily by an decrease in product exports in Iron & steel ($-69.7M or -28.5%), Electrical machinery and electronics ($-54.5M or -16.2%), and Plastics & articles thereof ($-18.6M or -9.12%). In October 2024, the decrease in South Korea's year-by-year imports  from India was explained primarily by an decrease in product imports  in Aluminum articles ($-128M or -66.9%), Iron & steel ($-55M or -84.1%), and Lead articles ($-13.8M or -44.5%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$-22M(-1.44%)
IMPORT GROWTH (October 2023 - October 2024)$-39.2M(-6.54%)

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

For full datasets download visit Bulk Download page.

Explore India and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $20.6B to India. The main products exported from South Korea to India were Integrated Circuits ($2.23B), Special Purpose Ships ($1.96B), and Refined Petroleum ($941M). During the last 5 years the exports of South Korea to India have increased at an annualized rate of 5.95%, from $15.4B in 2017 to $20.6B in 2022.

In 2017, India exported $8.2B to South Korea. The main products exported from India to South Korea were Refined Petroleum ($2.58B), Raw Aluminium ($1.34B), and Raw Lead ($252M). During the last 5 years the exports of India to South Korea have increased at an annualized rate of 7.05%, from $4.75B in 2022 to $8.2B in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
India
Top DestinationUnited States$82.9B

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

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

In 2022, countries that imported more from India than South Korea included United Arab Emirates ($31.6B), Bangladesh ($13.8B), and Netherlands ($17.6B).

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

Comparative Advantage South Korea - India

Flow
Scale

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

During 2022, South Korea had a large net trade with India in the exports of Machines ($6.35B), Metals ($4.1B), and Transportation ($3.15B).

During 2017, India had a large net trade with South Korea in the exports of Mineral Products ($2.69B), Metals ($2.19B), and Chemical Products ($1.02B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea India+$912MIntegrated Circuits
Top Product Potential India South Korea+$1.25BRefined Petroleum

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

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

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