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2023
Flag → Flag
Exports $384MRnk 66 / 142
2023
Flag → Flag
Top Product $72.9MHot-Rolled Iron
2023
Flag → Flag
Exports $325MRnk 26 / 171
2023
Flag → Flag
Top Product $170MRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.32Rnk 76 / 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$109BCURRENT US$
Rnk 66 / 195
2013-2023
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GDP GROWTH21%CURRENT US$
Rnk 138 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$21,550CURRENT US$
Rnk 62 / 196
2013-2023
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GDP PC GROWTH-8.13%CURRENT US$
Rnk 164 / 195

About

South Korea-Oman Trade: In 2023, South Korea exported $384M to Oman. The main products that South Korea exported to Oman were Hot-Rolled Iron ($72.9M), Other Small Iron Pipes ($62.3M), and Polycarboxylic Acids ($55.7M). Over the past 5 years the exports of South Korea to Oman have decreased at an annualized rate of 9.49%, from $632M in 2018 to $384M in 2023.

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

Oman-South Korea Trade: In 2023, Oman exported $325M to South Korea. The main products that Oman exported to South Korea were Refined Petroleum ($170M), Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($66.6M), and Ferroalloys ($32.7M). Over the past 5 years the exports of Oman to South Korea have decreased at an annualized rate of 34.9%,  from $2.77B in 2018 to $325M in 2023.

In 2023, Oman 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, Oman ranked 76 in the Economic Complexity Index (ECI -0.32), and 48 in total exports ($70.5B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $83M and imported $450M from Oman, resulting in a negative trade balance of $367M. Between December 2023 and December 2024 the exports of South Korea have increased by $53.4M (180%) from $29.6M to $83M, while imports decreased by $-64.6M (-12.6%) from $514M to $450M.

Trade In December 2024, the top exports of South Korea to Oman were Mineral fuels, mineral oils and products... ($27.3M), Machinery, mechanical appliances, & parts ($6.21M), Cars, tractors, trucks & parts thereof. ($4.29M), Iron & steel ($3.7M), and Iron/Steel Articles ($3.46M). In December 2024 the top imports of South Korea from Oman were Mineral fuels, mineral oils and products... ($458M), Organic chemicals ($6.87M), Iron & steel ($4.73M), Salt, sulphur, cement, lime, stone, &... ($2.32M), and Fish, Crustaceans & Molluscs ($1.28M).

Growth In December 2024, the increase in South Korea's year-by-year exports to Oman was explained primarily by an increase in product exports in Mineral fuels, mineral oils and products... ($27.1M or 11.9k%), Machinery, mechanical appliances, & parts ($2.62M or 73%), and Perfumery & cosmetics ($282k or 495%). In December 2024, the decrease in South Korea's year-by-year imports  from Oman was explained primarily by an decrease in product imports  in Mineral fuels, mineral oils and products... ($-436M or -48.8%), Stone, plaster, cement, asbestos, mica. ($-204k or -29.4%), and Electrical machinery and electronics ($-2k or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$53.4M(180%)
IMPORT GROWTH (December 2023 - December 2024)$-64.6M(-12.6%)

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

For full datasets download visit Bulk Download page.

Explore Oman and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $384M to Oman. The main products exported from South Korea to Oman were Hot-Rolled Iron ($72.9M), Other Small Iron Pipes ($62.3M), and Polycarboxylic Acids ($55.7M). During the last 5 years the exports of South Korea to Oman have decreased at an annualized rate of 9.49%, from $632M in 2018 to $384M in 2023.

In 2018, Oman exported $325M to South Korea. The main products exported from Oman to South Korea were Refined Petroleum ($170M), Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($66.6M), and Ferroalloys ($32.7M). During the last 5 years the exports of Oman to South Korea have decreased at an annualized rate of 34.9%, from $2.77B in 2023 to $325M in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Oman
Top DestinationChina$30.2B

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

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

In 2023, countries that imported more from Oman than South Korea included South Africa ($2.57B), Madagascar ($647M), and Iran ($554M).

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

Comparative Advantage South Korea - Oman

Flow
Scale

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

During 2023, South Korea had a large net trade with Oman in the exports of Metals ($143M), Machines ($68M), and Chemical Products ($65.1M).

During 2018, Oman had a large net trade with South Korea in the exports of Mineral Products ($179M), Chemical Products ($67.9M), and Metals ($47.8M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Oman+$35.5MCars
Top Product Potential Oman South Korea+$511MCrude 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 Oman. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Oman. Similarly, a dot/product with the flag of Oman indicates it has a comparative advantage over South Korea.

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

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