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2023
Flag → Flag
Exports $939MRnk 42 / 142
2023
Flag → Flag
Top Product $141MCars
2023
Flag → Flag
Exports $192MRnk 44 / 211
2023
Flag → Flag
Top Product $74.1MRubber Tires
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$289BCURRENT US$
Rnk 48 / 195
2013-2023
Flag
GDP GROWTH27.5%CURRENT US$
Rnk 119 / 195
2023
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GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$27,331CURRENT US$
Rnk 50 / 196
2013-2023
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GDP PC GROWTH26.1%CURRENT US$
Rnk 84 / 195

About

South Korea-Portugal Trade: In 2023, South Korea exported $939M to Portugal. The main products that South Korea exported to Portugal were Cars ($141M), Hot-Rolled Iron ($99.8M), and Refined Petroleum ($95.7M). Over the past 5 years the exports of South Korea to Portugal have increased at an annualized rate of 8.2%, from $633M in 2018 to $939M in 2023.

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

Portugal-South Korea Trade: In 2023, Portugal exported $192M to South Korea. The main products that Portugal exported to South Korea were Rubber Tires ($74.1M), Unpackaged Medicaments ($11.5M), and Vaccines, blood, antisera, toxins and cultures ($6.47M). Over the past 5 years the exports of Portugal to South Korea have decreased at an annualized rate of 5.78%,  from $309M in 2018 to $192M in 2023.

In 2020, Portugal exported services to South Korea worth $18.3M, with Travel ($18.3M) 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, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 46 in total exports ($83B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $58.8M and imported $28.4M from Portugal, resulting in a positive trade balance of $30.4M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-5.69M (-8.83%) from $64.5M to $58.8M, while imports decreased by $-48.8M (-63.2%) from $77.1M to $28.4M.

Trade In December 2024, the top exports of South Korea to Portugal were Ships, boats, & floating structures ($161M), Electrical machinery and electronics ($17.4M), Cars, tractors, trucks & parts thereof. ($12.1M), Machinery, mechanical appliances, & parts ($9.62M), and Iron & steel ($9.56M). In December 2024 the top imports of South Korea from Portugal were Pharmaceutical products ($23.6M), Knitted clothing accesories ($10.1M), Rubber & articles thereof ($7.26M), Non-knitted clothing accesories ($4.55M), and Electrical machinery and electronics ($2.85M).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Portugal was explained primarily by an decrease in product exports in Pharmaceutical products ($-14.2M or -77%), Plastics & articles thereof ($-1.09M or -11.6%), and Organic chemicals ($-599k or -34%). In December 2024, the decrease in South Korea's year-by-year imports  from Portugal was explained primarily by an decrease in product imports  in Knitted clothing accesories ($-2.87M or -22.1%), Footwear ($-1.1M or -52.6%), and Fish, Crustaceans & Molluscs ($-927k or -58.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-5.69M(-8.83%)
IMPORT GROWTH (December 2023 - December 2024)$-48.8M(-63.2%)

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

For full datasets download visit Bulk Download page.

Explore Portugal and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $939M to Portugal. The main products exported from South Korea to Portugal were Cars ($141M), Hot-Rolled Iron ($99.8M), and Refined Petroleum ($95.7M). During the last 5 years the exports of South Korea to Portugal have increased at an annualized rate of 8.2%, from $633M in 2018 to $939M in 2023.

In 2018, Portugal exported $192M to South Korea. The main products exported from Portugal to South Korea were Rubber Tires ($74.1M), Unpackaged Medicaments ($11.5M), and Vaccines, blood, antisera, toxins and cultures ($6.47M). During the last 5 years the exports of Portugal to South Korea have decreased at an annualized rate of 5.78%, from $309M in 2023 to $192M in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Portugal
Top DestinationSpain$17.7B

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

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

In 2023, countries that imported more from Portugal than South Korea included Spain ($17.7B), Morocco ($1.65B), and Angola ($1.64B).

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

Comparative Advantage South Korea - Portugal

Flow
Scale

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

During 2023, South Korea had a large net trade with Portugal in the exports of Machines ($199M), Metals ($168M), and Transportation ($159M).

During 2018, Portugal had a large net trade with South Korea in the exports of Plastics and Rubbers ($77.4M), Chemical Products ($24.9M), and Machines ($15.2M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Portugal+$78.3MCars
Top Product Potential Portugal South Korea+$23.8MCars

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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Bilateral Service Trade

In 2020, Portugal exported services to South Korea worth $18.3M, with Travel ($18.3M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

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