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2022
Flag → Flag
Exports $6.33BRnk N/A / N/A
2022
Flag → Flag
Exports $14.8BRnk N/A / N/A
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.3Rnk 50 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$2.02TCURRENT US$
Rnk 11 / 195
2013-2023
Flag
GDP GROWTH-11.8%CURRENT US$
Rnk 183 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$13,817CURRENT US$
Rnk 74 / 196
2013-2023
Flag
GDP PC GROWTH-13.3%CURRENT US$
Rnk 170 / 195

About

South Korea-Russia Trade: In 2022, South Korea exported $6.33B to Russia. The main products that South Korea exported to Russia were N/A. Over the past 5 years the exports of South Korea to Russia have decreased at an annualized rate of 5.73%, from $8.5B in 2017 to $6.33B in 2022.

In 2005, South Korea exported services to Russia worth $465M, with Transportation ($297M), Travel ($86.9M), and Other business services ($45.1M) being the largest in terms of value.

Russia-South Korea In N/A, Russia did not export any products to South Korea.

In 2020, Russia exported services to South Korea worth $506M, with Transportation ($316M), Other business services ($82.6M), and Computer and information services ($41.1M) 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, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $355M and imported $534M from Russia, resulting in a negative trade balance of $180M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-53.5M (-13.1%) from $408M to $355M, while imports decreased by $-148M (-21.7%) from $683M to $534M.

Trade In December 2024, the top exports of South Korea to Russia were Machinery, mechanical appliances, & parts ($106M), Cars, tractors, trucks & parts thereof. ($76.9M), Electrical machinery and electronics ($41.9M), Plastics & articles thereof ($35.7M), and Perfumery & cosmetics ($28.1M). In December 2024 the top imports of South Korea from Russia were Mineral fuels, mineral oils and products... ($323M), Fish, Crustaceans & Molluscs ($79M), Aluminum articles ($64.1M), Iron & steel ($17.5M), and Wood, wood articles, & charcoal ($16.2M).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Russia was explained primarily by an decrease in product exports in Cars, tractors, trucks & parts thereof. ($-30.3M or -28.3%), Mineral fuels, mineral oils and products... ($-24.4M or -63%), and Machinery, mechanical appliances, & parts ($-16.5M or -13.5%). In December 2024, the decrease in South Korea's year-by-year imports  from Russia was explained primarily by an decrease in product imports  in Mineral fuels, mineral oils and products... ($-227M or -41.3%), Fish, Crustaceans & Molluscs ($-25M or -24%), and Ores, slag and ash ($-11.8M or -69.1%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-53.5M(-13.1%)
IMPORT GROWTH (December 2023 - December 2024)$-148M(-21.7%)

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

For full datasets download visit Bulk Download page.

Explore Russia and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $6.33B to Russia. There were not main exports from South Korea to Russia in 2022. During the last 5 years the exports of South Korea to Russia have decreased at an annualized rate of 5.73%, from $8.5B in 2017 to $6.33B in 2022.

Russia does not register exports to South Korea.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Russia
Top DestinationChina$129B

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

In 2023, countries that imported more from South Korea than Russia included United States ($118B), China ($162B), and Chinese Taipei ($28.2B).

In 2023, countries that imported more from Russia than South Korea included India ($66.1B), Turkey ($31B), and Kazakhstan ($16.1B).

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

Comparative Advantage South Korea - Russia

Flow
Scale

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

During 2022, South Korea had a large net trade with Russia in the exports of .

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Russia+$265MCars
Top Product Potential Russia South Korea+$1.53BCrude 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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Bilateral Service Trade

In 2005, South Korea exported services to Russia worth $465M, with Transportation ($297M), Travel ($86.9M), and Other business services ($45.1M) being the largest in terms of value.

In 2020, Russia exported services to South Korea worth $506M, with Transportation ($316M), Other business services ($82.6M), and Computer and information services ($41.1M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Russia (Flag) (2005)

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

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

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