South Korea (KOR) and Russia (RUS) Trade | The Observatory of Economic Complexity

- Chat OEC
  New
- Company Explorer
  PREMIUM
- Trend Explorer
  PRO
- - Tree map
  - Stacked
  - Network
  - Map
  - Scatter
- Data Availability
- - API Documentation
    PRO
  - Notebooks
  - Data Explorer
    PRO
- - Bill of Lading
    PREMIUM
  - National Datasets
    PREMIUM
  - Product Datasets
  - International Datasets
- - ECI Countries (2022)
  - PCI Products (2022)
  - ECI, PCI (1964-2017)
- - Pick 5
  - Connectrade
  - Tradle
  - Trivia
- - Store

Pricing

South Korea (KOR) and Russia (RUS) Trade

2022

→

Exports $6.33BRnk 21 / 220

2022

→

About

South Korea-Russia Trade: In 2022, South Korea exported $6.33B to Russia. The main products that South Korea exported to Russia were Cars ($894M), Iron Structures ($602M), and Motor vehicles; parts and accessories (8701 to 8705) ($454M). Over the past 5 years the exports of South Korea to Russia have decreased at an annualized rate of 3.28%, from $7.48B 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 Trade: In 2022, Russia exported $12.8B to South Korea. The main products that Russia exported to South Korea were Coal Briquettes ($4.62B), Crude Petroleum ($2.01B), and Refined Petroleum ($1.48B). Over the past 5 years the exports of Russia to South Korea have increased at an annualized rate of 0.28%, from $12.7B in 2017 to $12.8B in 2022.

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 2022, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $333M and imported $551M from Russia, resulting in a negative trade balance of $219M. Between October 2023 and October 2024 the exports of South Korea have decreased by $-54.2M (-14%) from $387M to $333M, while imports decreased by $-44.9M (-7.53%) from $596M to $551M.

Trade In October 2024, the top exports of South Korea to Russia were Machinery, mechanical appliances, & parts ($123M), Cars, tractors, trucks & parts thereof. ($107M), Plastics & articles thereof ($41.1M), Mineral fuels, mineral oils and products... ($38.7M), and Perfumery & cosmetics ($24.9M). In October 2024 the top imports of South Korea from Russia were Mineral fuels, mineral oils and products... ($549M), Fish, Crustaceans & Molluscs ($104M), Aluminum articles ($52M), Wood, wood articles, & charcoal ($18.4M), and Ores, slag and ash ($17.1M).

Growth In October 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. ($-218M or -67.1%), Electrical machinery and electronics ($-41M or -65.6%), and Plastics & articles thereof ($-38.8M or -48.6%). In October 2024, the decrease in South Korea's year-by-year imports from Russia was explained primarily by an decrease in product imports in Mineral fuels, mineral oils and products... ($-1.12B or -67.1%), Iron & steel ($-51.5M or -76.3%), and Aluminum articles ($-13.4M or -20.5%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (October 2023 - October 2024)$-54.2M(-14%)

IMPORT GROWTH (October 2023 - October 2024)$-44.9M(-7.53%)

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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, South Korea exported $6.33B to Russia. The main products exported from South Korea to Russia were Cars ($894M), Iron Structures ($602M), and Motor vehicles; parts and accessories (8701 to 8705) ($454M). During the last 5 years the exports of South Korea to Russia have decreased at an annualized rate of 3.28%, from $7.48B in 2017 to $6.33B in 2022.

In 2017, Russia exported $12.8B to South Korea. The main products exported from Russia to South Korea were Coal Briquettes ($4.62B), Crude Petroleum ($2.01B), and Refined Petroleum ($1.48B). During the last 5 years the exports of Russia to South Korea have increased at an annualized rate of 0.28%, from $12.7B in 2022 to $12.8B in 2017.

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

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

Market Competitiveness

Color

Exports

Export Growth

Section

Year

South Korea
Top DestinationChina$150B

Russia
Top DestinationChina$101B

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

In 2022, countries that imported more from Russia than South Korea included India ($40.4B), Italy ($25.1B), and Turkey ($25.3B).

Difference in imports from Russia () and South Korea () (2022)

Comparative Advantage South Korea - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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 Transportation ($1.6B), Machines ($1.5B), and Metals ($833M).

During 2017, Russia had a large net trade with South Korea in the exports of Mineral Products ($9.49B), Animal Products ($1.01B), and Metals ($885M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

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.

Subscribe today to OEC pro and access the latest data

Bilateral Service Trade

Rus Year

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.

Service trade data is presented based on availability.

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

Services Exports from Russia () to South Korea () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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 () and Russia () (2022)

Keep Exploring

South Korea
Romania
South Korea
Norway
Cambodia
Russia
Kuwait
Russia

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world

Follow @OECtoday on

Created, Designed, and Developed by:

In collaboration with

About the OEC Privacy Policy Terms