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Pricing

2022
Flag → Flag
Exports $44.1MRnk 135 / 220
2022
Flag → Flag
Top Product $10.6MCars
2022
Flag → Flag
Exports $151MRnk 8 / 157
2022
Flag → Flag
Top Product $140MRaw Nickel
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.08Rnk 115 / 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$15BCURRENT US$
Rnk 131 / 186
2012-2022
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GDP GROWTH29.2%CURRENT US$
Rnk 104 / 186
2022
Flag
GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC$505CURRENT US$
Rnk 182 / 186
2012-2022
Flag
GDP PC GROWTH0.17%CURRENT US$
Rnk 139 / 186

About

South Korea-Madagascar Trade: In 2022, South Korea exported $44.1M to Madagascar. The main products that South Korea exported to Madagascar were Cars ($10.6M), Vaccines, blood, antisera, toxins and cultures ($3.36M), and Ethylene Polymers ($3.19M). Over the past 5 years the exports of South Korea to Madagascar have decreased at an annualized rate of 13.3%, from $90.1M in 2017 to $44.1M in 2022.

In 2022, South Korea did not export any services to Madagascar.

Madagascar-South Korea Trade: In 2022, Madagascar exported $151M to South Korea. The main products that Madagascar exported to South Korea were Raw Nickel ($140M), Processed Crustaceans ($1.97M), and Vanilla ($1.89M). Over the past 5 years the exports of Madagascar to South Korea have increased at an annualized rate of 11.9%,  from $85.8M in 2017 to $151M in 2022.

In 2022, Madagascar 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, Madagascar ranked 115 in the Economic Complexity Index (ECI -1.08), and 133 in total exports ($4.25B).

Latest Trends

July, 2024

About

Overview In July 2024, South Korea exported $4.85M and imported $18.6M from Madagascar, resulting in a negative trade balance of $13.7M. Between July 2023 and July 2024 the exports of South Korea have increased by $2.33M (92.5%) from $2.52M to $4.85M, while imports increased by $12.2M (192%) from $6.37M to $18.6M.

Trade In July 2024, the top exports of South Korea to Madagascar were Cars, tractors, trucks & parts thereof. ($1.02M), Machinery, mechanical appliances, & parts ($474k), Plastics & articles thereof ($287k), Man-made filaments ($272k), and Chemical products n.e.s. ($148k). In July 2024 the top imports of South Korea from Madagascar were Nickel articles ($21.9M), Non-knitted clothing accesories ($377k), Coffee, tea, mate & spices ($269k), Knitted clothing accesories ($133k), and Straw & esparto manufactures ($32k).

Growth In July 2024, the increase in South Korea's year-by-year exports to Madagascar was explained primarily by an increase in product exports in Machinery, mechanical appliances, & parts ($465k or 5.17k%), Soap, cleaners, candles, dental, modelling pastes ($26k or 32.5%), and Rubber & articles thereof ($18k or 33.3%). In July 2024, the increase in South Korea's year-by-year imports  from Madagascar was explained primarily by an increase in product imports  in Nickel articles ($20M or 1.03k%), Non-knitted clothing accesories ($274k or 266%), and Coffee, tea, mate & spices ($37k or 15.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$2.33M(92.5%)
IMPORT GROWTH (July 2023 - July 2024)$12.2M(192%)

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

For full datasets download visit Bulk Download page.

Explore Madagascar and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $44.1M to Madagascar. The main products exported from South Korea to Madagascar were Cars ($10.6M), Vaccines, blood, antisera, toxins and cultures ($3.36M), and Ethylene Polymers ($3.19M). During the last 5 years the exports of South Korea to Madagascar have decreased at an annualized rate of 13.3%, from $90.1M in 2017 to $44.1M in 2022.

In 2017, Madagascar exported $151M to South Korea. The main products exported from Madagascar to South Korea were Raw Nickel ($140M), Processed Crustaceans ($1.97M), and Vanilla ($1.89M). During the last 5 years the exports of Madagascar to South Korea have increased at an annualized rate of 11.9%, from $85.8M in 2022 to $151M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Madagascar
Top DestinationUnited States$756M

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

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

In 2022, countries that imported more from Madagascar than South Korea included Comoros ($7.03M), Chad ($1.17M), and North Korea ($1.51k).

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

Comparative Advantage South Korea - Madagascar

Flow
Scale

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

During 2022, South Korea had a large net trade with Madagascar in the exports of Transportation ($15M), Plastics and Rubbers ($9.07M), and Chemical Products ($6.31M).

During 2017, Madagascar had a large net trade with South Korea in the exports of Metals ($141M), Vegetable Products ($2.91M), and Textiles ($2.68M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Madagascar+$6.02MCars
Top Product Potential Madagascar South Korea+$2.59MKnit Sweaters

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

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

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