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2022
Flag → Flag
Exports $20MRnk 157 / 220
2022
Flag → Flag
Top Product $17.2MRefined Petroleum
2022
Flag → Flag
Exports $297kRnk 6 / 38
2022
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Top Product $194kScrap Iron
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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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 PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186

About

South Korea-Palau Trade: In 2022, South Korea exported $20M to Palau. The main products that South Korea exported to Palau were Refined Petroleum ($17.2M), Petroleum Gas ($599k), and Large Flat-Rolled Stainless Steel ($173k). Over the past 5 years the exports of South Korea to Palau have increased at an annualized rate of 10.5%, from $12.2M in 2017 to $20M in 2022.

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

Palau-South Korea Trade: In 2022, Palau exported $297k to South Korea. The main products that Palau exported to South Korea were Scrap Iron ($194k), Industrial Fatty Acids, Oils and Alcohols ($69.9k), and Scrap Copper ($17.8k). Over the past 5 years the exports of Palau to South Korea have increased at an annualized rate of 7.47%,  from $207k in 2017 to $297k in 2022.

In 2022, Palau 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, Palau ranked 219 in total exports ($7.75M), and does not have data regarding Economic Complexity Index.

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $463k and imported $19k from Palau, resulting in a positive trade balance of $444k. Between October 2023 and October 2024 the exports of South Korea have increased by $107k (30.1%) from $356k to $463k, while imports decreased by $-7k (-26.9%) from $26k to $19k.

Trade In October 2024, the top exports of South Korea to Palau were Mineral fuels, mineral oils and products... ($101k), Iron & steel ($85k), Tobacco & substitutes ($19k), Cars, tractors, trucks & parts thereof. ($18k), and Iron/Steel Articles ($17k). In October 2024 the top imports of South Korea from Palau were Iron & steel ($48k), Fish, Crustaceans & Molluscs ($0), Edible vegetables, roots, & tubers ($0), Edible fruits, nuts & fruit peels ($0), and Oils seeds, oleaginous fruits, grains, straw... ($0).

Growth In October 2024, the increase in South Korea's year-by-year exports to Palau was explained primarily by an increase in product exports in Iron & steel ($39k or 84.8%), Paper articles ($9k or 450%), and Iron/Steel Articles ($4k or 30.8%). In October 2024, the decrease in South Korea's year-by-year imports  from Palau was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$107k(30.1%)
IMPORT GROWTH (October 2023 - October 2024)$-7k(-26.9%)

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

For full datasets download visit Bulk Download page.

Explore Palau and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $20M to Palau. The main products exported from South Korea to Palau were Refined Petroleum ($17.2M), Petroleum Gas ($599k), and Large Flat-Rolled Stainless Steel ($173k). During the last 5 years the exports of South Korea to Palau have increased at an annualized rate of 10.5%, from $12.2M in 2017 to $20M in 2022.

In 2017, Palau exported $297k to South Korea. The main products exported from Palau to South Korea were Scrap Iron ($194k), Industrial Fatty Acids, Oils and Alcohols ($69.9k), and Scrap Copper ($17.8k). During the last 5 years the exports of Palau to South Korea have increased at an annualized rate of 7.47%, from $207k in 2022 to $297k in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Palau
Top DestinationGreece$2.11M

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

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

In 2022, no countries were registered that imported more from Palau than from South Korea.

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

Comparative Advantage South Korea - Palau

Flow
Scale

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

During 2022, South Korea had a large net trade with Palau in the exports of Mineral Products ($17.8M), Foodstuffs ($688k), and Metals ($626k).

During 2017, Palau had a large net trade with South Korea in the exports of Metals ($226k), Chemical Products ($69.9k), and Stone And Glass ($294).

Economic Complexity

Competitive Landscape

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

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

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