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2023
Flag → Flag
Exports $210MRnk 76 / 142
2023
Flag → Flag
Top Product $44.9MRefined Petroleum
2023
Flag → Flag
Exports $76.9MRnk 37 / 200
2023
Flag → Flag
Top Product $8.66MCoconut and Other Vegetable Fibers
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI -0.44Rnk 85 / 132
2023
Flag  
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$84.4BCURRENT US$
Rnk 75 / 195
2013-2023
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GDP GROWTH9.55%CURRENT US$
Rnk 157 / 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$3,828CURRENT US$
Rnk 132 / 196
2013-2023
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GDP PC GROWTH2.34%CURRENT US$
Rnk 150 / 195

About

South Korea-Sri Lanka Trade: In 2023, South Korea exported $210M to Sri Lanka. The main products that South Korea exported to Sri Lanka were Refined Petroleum ($44.9M), Synthetic Rubber ($19.1M), and Light Rubberized Knitted Fabric ($14.4M). Over the past 5 years the exports of South Korea to Sri Lanka have decreased at an annualized rate of 5.53%, from $279M in 2018 to $210M in 2023.

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

Sri Lanka-South Korea Trade: In 2023, Sri Lanka exported $76.9M to South Korea. The main products that Sri Lanka exported to South Korea were Coconut and Other Vegetable Fibers ($8.66M), Non-Knit Women's Suits ($6.93M), and Activated Carbon ($6.25M). Over the past 5 years the exports of Sri Lanka to South Korea have decreased at an annualized rate of 2.6%,  from $87.8M in 2018 to $76.9M in 2023.

In 2023, Sri Lanka 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, Sri Lanka ranked 85 in the Economic Complexity Index (ECI -0.44), and 90 in total exports ($13.8B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $14.1M and imported $8.13M from Sri Lanka, resulting in a positive trade balance of $5.96M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-358k (-2.48%) from $14.5M to $14.1M, while imports decreased by $-2.43M (-23%) from $10.6M to $8.13M.

Trade In December 2024, the top exports of South Korea to Sri Lanka were Mineral fuels, mineral oils and products... ($3.53M), Rubber & articles thereof ($2.46M), Knitted fabrics ($2.04M), Plastics & articles thereof ($1.48M), and Man-made filaments ($1.48M). In December 2024 the top imports of South Korea from Sri Lanka were Non-knitted clothing accesories ($2.02M), Knitted clothing accesories ($1.92M), Rubber & articles thereof ($992k), Headgear ($938k), and Chemical products n.e.s. ($631k).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Sri Lanka was explained primarily by an decrease in product exports in Aluminum articles ($-302k or -71.4%), Cotton ($-81k or -18%), and Pharmaceutical products ($-73k or -54.9%). In December 2024, the decrease in South Korea's year-by-year imports  from Sri Lanka was explained primarily by an decrease in product imports  in Knitted clothing accesories ($-644k or -25.1%), Rubber & articles thereof ($-570k or -36.5%), and Machinery, mechanical appliances, & parts ($-470k or -88.8%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-358k(-2.48%)
IMPORT GROWTH (December 2023 - December 2024)$-2.43M(-23%)

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 Sri Lanka and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Sri Lanka and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $210M to Sri Lanka. The main products exported from South Korea to Sri Lanka were Refined Petroleum ($44.9M), Synthetic Rubber ($19.1M), and Light Rubberized Knitted Fabric ($14.4M). During the last 5 years the exports of South Korea to Sri Lanka have decreased at an annualized rate of 5.53%, from $279M in 2018 to $210M in 2023.

In 2018, Sri Lanka exported $76.9M to South Korea. The main products exported from Sri Lanka to South Korea were Coconut and Other Vegetable Fibers ($8.66M), Non-Knit Women's Suits ($6.93M), and Activated Carbon ($6.25M). During the last 5 years the exports of Sri Lanka to South Korea have decreased at an annualized rate of 2.6%, from $87.8M in 2023 to $76.9M in 2018.

Exports from South Korea (Flag) to Sri Lanka (Flag) (2023)

Exports from Sri Lanka (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Sri Lanka
Top DestinationUnited States$2.98B

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

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

In 2023, countries that imported more from Sri Lanka than South Korea included Bangladesh ($177M), Russia ($146M), and Maldives ($168M).

Difference in imports from Sri Lanka (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - Sri Lanka

Flow
Scale

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

During 2023, South Korea had a large net trade with Sri Lanka in the exports of Textiles ($48.2M), Mineral Products ($45.8M), and Plastics and Rubbers ($40.7M).

During 2018, Sri Lanka had a large net trade with South Korea in the exports of Textiles ($35.3M), Plastics and Rubbers ($11.8M), and Chemical Products ($6.6M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Sri Lanka+$30.7MRefined Petroleum
Top Product Potential Sri Lanka South Korea+$10.1MNon-Knit Women's Suits

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

Product Space of South Korea (Flag) and Sri Lanka (Flag) (2023)

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