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2023
Flag → Flag
Exports $19.6BRnk 7 / 142
2023
Flag → Flag
Top Product $2.56BIntegrated Circuits
2023
Flag → Flag
Exports $6.28BRnk 21 / 220
2023
Flag → Flag
Top Product $1.51BRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 0.65Rnk 39 / 132
2023
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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$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
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GDP GROWTH92.1%CURRENT US$
Rnk 19 / 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$2,481CURRENT US$
Rnk 148 / 196
2013-2023
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GDP PC GROWTH73.1%CURRENT US$
Rnk 22 / 195

About

South Korea-India Trade: In 2023, South Korea exported $19.6B to India. The main products that South Korea exported to India were Integrated Circuits ($2.56B), Motor vehicles; parts and accessories (8701 to 8705) ($987M), and Refined Petroleum ($915M). Over the past 5 years the exports of South Korea to India have increased at an annualized rate of 3.7%, from $16.3B in 2018 to $19.6B in 2023.

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 2023, India exported $6.28B to South Korea. The main products that India exported to South Korea were Refined Petroleum ($1.51B), Raw Aluminium ($797M), and Gas Turbines ($297M). Over the past 5 years the exports of India to South Korea have increased at an annualized rate of 1.19%,  from $5.92B in 2018 to $6.28B in 2023.

In 2023, India 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, India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $1.68B and imported $635M from India, resulting in a positive trade balance of $1.05B. Between December 2023 and December 2024 the exports of South Korea have increased by $95.3M (6.01%) from $1.59B to $1.68B, while imports increased by $94.4M (17.5%) from $540M to $635M.

Trade In December 2024, the top exports of South Korea to India were Electrical machinery and electronics ($361M), Iron & steel ($227M), Plastics & articles thereof ($184M), Machinery, mechanical appliances, & parts ($151M), and Mineral fuels, mineral oils and products... ($117M). In December 2024 the top imports of South Korea from India were Mineral fuels, mineral oils and products... ($102M), Organic chemicals ($87.3M), Aluminum articles ($57.8M), Iron & steel ($30.7M), and Machinery, mechanical appliances, & parts ($28M).

Growth In December 2024, the increase in South Korea's year-by-year exports to India was explained primarily by an increase in product exports in Electrical machinery and electronics ($78.3M or 27.8%), Iron & steel ($52.5M or 30.1%), and Lead articles ($23.3M or 210%). In December 2024, the increase in South Korea's year-by-year imports  from India was explained primarily by an increase in product imports  in Iron & steel ($20.3M or 195%), Organic chemicals ($19.7M or 29.2%), and Electrical machinery and electronics ($7.45M or 45.7%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$95.3M(6.01%)
IMPORT GROWTH (December 2023 - December 2024)$94.4M(17.5%)

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 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 2023, South Korea exported $19.6B to India. The main products exported from South Korea to India were Integrated Circuits ($2.56B), Motor vehicles; parts and accessories (8701 to 8705) ($987M), and Refined Petroleum ($915M). During the last 5 years the exports of South Korea to India have increased at an annualized rate of 3.7%, from $16.3B in 2018 to $19.6B in 2023.

In 2018, India exported $6.28B to South Korea. The main products exported from India to South Korea were Refined Petroleum ($1.51B), Raw Aluminium ($797M), and Gas Turbines ($297M). During the last 5 years the exports of India to South Korea have increased at an annualized rate of 1.19%, from $5.92B in 2023 to $6.28B in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
India
Top DestinationUnited States$85.5B

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 2023, countries that imported more from South Korea than India included China ($162B), United States ($118B), and Chinese Taipei ($28.2B).

In 2023, countries that imported more from India than South Korea included United Arab Emirates ($28.8B), Bangladesh ($11.3B), and Nepal ($7.25B).

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

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 2023, South Korea had a large net trade with India in the exports of Machines ($6.94B), Metals ($4.29B), and Plastics and Rubbers ($2.67B).

During 2018, India had a large net trade with South Korea in the exports of Metals ($1.68B), Mineral Products ($1.62B), and Chemical Products ($920M).

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) (2023)

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