NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $6.23BRnk 22 / 142
2023
Flag → Flag
Top Product $810MVaccines, blood, antisera, toxins and cultures
2023
Flag → Flag
Exports $7.15BRnk 18 / 219
2023
Flag → Flag
Top Product $948MTrunks and Cases
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$39,003CURRENT US$
Rnk 32 / 196
2013-2023
Flag
GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195

About

South Korea-Italy Trade: In 2023, South Korea exported $6.23B to Italy. The main products that South Korea exported to Italy were Vaccines, blood, antisera, toxins and cultures ($810M), Cars ($597M), and Hot-Rolled Iron ($423M). Over the past 5 years the exports of South Korea to Italy have increased at an annualized rate of 5.54%, from $4.76B in 2018 to $6.23B in 2023.

In 2005, South Korea exported services to Italy worth $400M, with Transportation ($292M), Other business services ($64M), and Travel ($29.9M) being the largest in terms of value.

Italy-South Korea Trade: In 2023, Italy exported $7.15B to South Korea. The main products that Italy exported to South Korea were Trunks and Cases ($948M), Packaged Medicaments ($398M), and Cars ($287M). Over the past 5 years the exports of Italy to South Korea have increased at an annualized rate of 3.73%,  from $5.95B in 2018 to $7.15B in 2023.

In 2020, Italy exported services to South Korea worth $212M, with Computer and information services ($46.4M), Royalties and license fees ($40.4M), and Other business services ($37.1M) 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, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $498M and imported $622M from Italy, resulting in a negative trade balance of $124M. Between December 2023 and December 2024 the exports of South Korea have increased by $94M (23.2%) from $404M to $498M, while imports increased by $12M (1.98%) from $610M to $622M.

Trade In December 2024, the top exports of South Korea to Italy were Iron & steel ($76.2M), Cars, tractors, trucks & parts thereof. ($50.7M), Pharmaceutical products ($43.9M), Plastics & articles thereof ($43.1M), and Machinery, mechanical appliances, & parts ($34.3M). In December 2024 the top imports of South Korea from Italy were Leather articles ($125M), Machinery, mechanical appliances, & parts ($84.3M), Mineral fuels, mineral oils and products... ($69.2M), Non-knitted clothing accesories ($56.5M), and Footwear ($37.1M).

Growth In December 2024, the increase in South Korea's year-by-year exports to Italy was explained primarily by an increase in product exports in Pharmaceutical products ($28.2M or 179%), Cars, tractors, trucks & parts thereof. ($11.1M or 28.1%), and Rubber & articles thereof ($6.22M or 61.6%). In December 2024, the increase in South Korea's year-by-year imports  from Italy was explained primarily by an increase in product imports  in Mineral fuels, mineral oils and products... ($69.2M or 173k%), Non-knitted clothing accesories ($8.87M or 18.6%), and Pharmaceutical products ($2.05M or 6.29%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$94M(23.2%)
IMPORT GROWTH (December 2023 - December 2024)$12M(1.98%)

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

For full datasets download visit Bulk Download page.

Explore Italy and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $6.23B to Italy. The main products exported from South Korea to Italy were Vaccines, blood, antisera, toxins and cultures ($810M), Cars ($597M), and Hot-Rolled Iron ($423M). During the last 5 years the exports of South Korea to Italy have increased at an annualized rate of 5.54%, from $4.76B in 2018 to $6.23B in 2023.

In 2018, Italy exported $7.15B to South Korea. The main products exported from Italy to South Korea were Trunks and Cases ($948M), Packaged Medicaments ($398M), and Cars ($287M). During the last 5 years the exports of Italy to South Korea have increased at an annualized rate of 3.73%, from $5.95B in 2023 to $7.15B in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Italy
Top DestinationGermany$71.4B

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

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

In 2023, countries that imported more from Italy than South Korea included Germany ($71.4B), France ($61.1B), and Switzerland ($29.3B).

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

Comparative Advantage South Korea - Italy

Flow
Scale

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

During 2023, South Korea had a large net trade with Italy in the exports of Metals ($1.49B), Chemical Products ($1.28B), and Machines ($975M).

During 2018, Italy had a large net trade with South Korea in the exports of Machines ($1.31B), Textiles ($1.29B), and Animal Hides ($1.09B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Italy+$385MCars
Top Product Potential Italy South Korea+$148MCars

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Bilateral Service Trade

In 2005, South Korea exported services to Italy worth $400M, with Transportation ($292M), Other business services ($64M), and Travel ($29.9M) being the largest in terms of value.

In 2020, Italy exported services to South Korea worth $212M, with Computer and information services ($46.4M), Royalties and license fees ($40.4M), and Other business services ($37.1M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Italy (Flag) (2005)

Services Exports from Italy (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 Italy. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over South Korea.

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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms