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2023
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Exports $1.54BRnk 36 / 142
2023
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Top Product $446MCars
2023
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Exports $909MRnk 25 / 211
2023
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Top Product $193MPackaged Medicaments
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 1.31Rnk 17 / 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$551BCURRENT US$
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2013-2023
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GDP GROWTH127%CURRENT US$
Rnk 7 / 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$103,888CURRENT US$
Rnk 4 / 196
2013-2023
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GDP PC GROWTH97.4%CURRENT US$
Rnk 9 / 195

About

South Korea-Ireland Trade: In 2023, South Korea exported $1.54B to Ireland. The main products that South Korea exported to Ireland were Cars ($446M), Office Machine Parts ($281M), and Machinery Having Individual Functions ($153M). Over the past 5 years the exports of South Korea to Ireland have increased at an annualized rate of 10.1%, from $952M in 2018 to $1.54B in 2023.

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

Ireland-South Korea Trade: In 2023, Ireland exported $909M to South Korea. The main products that Ireland exported to South Korea were Packaged Medicaments ($193M), Vaccines, blood, antisera, toxins and cultures ($138M), and Jewellery ($99.4M). Over the past 5 years the exports of Ireland to South Korea have decreased at an annualized rate of 5.6%,  from $1.21B in 2018 to $909M in 2023.

In 2020, Ireland exported services to South Korea worth $811M, with Other business services ($730M), Royalties and license fees ($36.6M), and Financial services ($30.8M) being the largest in terms of value.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Ireland ranked 17 in the Economic Complexity Index (ECI 1.31), and 29 in total exports ($241B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $153M and imported $90.1M from Ireland, resulting in a positive trade balance of $62.7M. Between December 2023 and December 2024 the exports of South Korea have increased by $73.7M (93.1%) from $79.1M to $153M, while imports decreased by $-52.6M (-36.9%) from $143M to $90.1M.

Trade In December 2024, the top exports of South Korea to Ireland were Cars, tractors, trucks & parts thereof. ($28M), Organic chemicals ($13.5M), Machinery, mechanical appliances, & parts ($12.4M), Electrical machinery and electronics ($8.29M), and Plastics & articles thereof ($3.12M). In December 2024 the top imports of South Korea from Ireland were Pharmaceutical products ($46M), Optical, photo, & film equipment; medical... ($29.3M), Machinery, mechanical appliances, & parts ($3.9M), Miscellaneous edible preparations ($3.16M), and Chemical products n.e.s. ($2.77M).

Growth In December 2024, the increase in South Korea's year-by-year exports to Ireland was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($8.25M or 41.7%), Electrical machinery and electronics ($7.41M or 835%), and Machinery, mechanical appliances, & parts ($3.11M or 33.6%). In December 2024, the decrease in South Korea's year-by-year imports  from Ireland was explained primarily by an decrease in product imports  in Pharmaceutical products ($-32.9M or -41.7%), Glues, starches, & albuminoid products ($-1.81M or -81.7%), and Meat & edible offal ($-1.61M or -66%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$73.7M(93.1%)
IMPORT GROWTH (December 2023 - December 2024)$-52.6M(-36.9%)

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

For full datasets download visit Bulk Download page.

Explore Ireland and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $1.54B to Ireland. The main products exported from South Korea to Ireland were Cars ($446M), Office Machine Parts ($281M), and Machinery Having Individual Functions ($153M). During the last 5 years the exports of South Korea to Ireland have increased at an annualized rate of 10.1%, from $952M in 2018 to $1.54B in 2023.

In 2018, Ireland exported $909M to South Korea. The main products exported from Ireland to South Korea were Packaged Medicaments ($193M), Vaccines, blood, antisera, toxins and cultures ($138M), and Jewellery ($99.4M). During the last 5 years the exports of Ireland to South Korea have decreased at an annualized rate of 5.6%, from $1.21B in 2023 to $909M in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Ireland
Top DestinationUnited States$67.4B

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

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

In 2023, countries that imported more from Ireland than South Korea included Belgium ($18.7B), Germany ($26.7B), and United Kingdom ($20.5B).

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

Comparative Advantage South Korea - Ireland

Flow
Scale

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

During 2023, South Korea had a large net trade with Ireland in the exports of Machines ($622M), Transportation ($502M), and Chemical Products ($194M).

During 2018, Ireland had a large net trade with South Korea in the exports of Chemical Products ($407M), Machines ($178M), and Instruments ($119M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Ireland+$73.2MCars
Top Product Potential Ireland South Korea+$101MVaccines, blood, antisera, toxins and cultures

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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Bilateral Service Trade

In 2020, Ireland exported services to South Korea worth $811M, with Other business services ($730M), Royalties and license fees ($36.6M), and Financial services ($30.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Ireland (Flag) to South Korea (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and Ireland. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Ireland. Similarly, a dot/product with the flag of Ireland indicates it has a comparative advantage over South Korea.

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

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