2023
Flag  
GDP
$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH
25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP
$133BCURRENT US$
Rnk 61 / 195
2013-2023
Flag
GDP GROWTH
34.1%CURRENT US$
Rnk 104 / 195
2023
Flag
GDP PC 
$33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH
21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC
$24,491CURRENT US$
Rnk 51 / 196
2013-2023
Flag
GDP PC GROWTH
33.7%CURRENT US$
Rnk 71 / 195

About

South Korea-Slovakia Trade: In 2023, South Korea exported $6.45B to Slovakia. The main products that South Korea exported to Slovakia were Motor vehicles; parts and accessories (8701 to 8705) ($1.08B), Broadcasting Equipment ($903M), and Engine Parts ($501M). Over the past 5 years the exports of South Korea to Slovakia have increased at an annualized rate of 3.98%, from $5.3B in 2018 to $6.45B in 2023.

In 2005, South Korea exported services to Slovakia worth $103M, with Transportation ($40.9M), Other business services ($33.6M), and Services not allocated ($26.3M) being the largest in terms of value.

Slovakia-South Korea Trade: In 2023, Slovakia exported $363M to South Korea. The main products that Slovakia exported to South Korea were Cars ($142M), Motor vehicles; parts and accessories (8701 to 8705) ($70M), and Transmissions ($41.4M). Over the past 5 years the exports of Slovakia to South Korea have increased at an annualized rate of 11.8%,  from $186M in 2018 to $363M in 2023.

In 2020, Slovakia exported services to South Korea worth $8.11M, with Other business services ($2.74M), Transportation ($2.63M), and Computer and information services ($1.83M) 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, Slovakia ranked 15 in the Economic Complexity Index (ECI 1.35), and 39 in total exports ($107B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $6.45B to Slovakia. The main products exported from South Korea to Slovakia were Motor vehicles; parts and accessories (8701 to 8705) ($1.08B), Broadcasting Equipment ($903M), and Engine Parts ($501M). During the last 5 years the exports of South Korea to Slovakia have increased at an annualized rate of 3.98%, from $5.3B in 2018 to $6.45B in 2023.

In 2018, Slovakia exported $363M to South Korea. The main products exported from Slovakia to South Korea were Cars ($142M), Motor vehicles; parts and accessories (8701 to 8705) ($70M), and Transmissions ($41.4M). During the last 5 years the exports of Slovakia to South Korea have increased at an annualized rate of 11.8%, from $186M in 2023 to $363M in 2018.

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

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

Market Competitiveness

Color
South Korea
Top Destination
China$162B
Slovakia
Top Destination
Germany$21.5B

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

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

In 2023, countries that imported more from Slovakia than South Korea included Germany ($21.5B), Czechia ($11.1B), and Austria ($4.21B).

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

Comparative Advantage South Korea - Slovakia

Flow
Scale

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

During 2023, South Korea had a large net trade with Slovakia in the exports of Machines ($4.17B), Transportation ($1.33B), and Metals ($417M).

During 2018, Slovakia had a large net trade with South Korea in the exports of Transportation ($213M), Machines ($122M), and Instruments ($6.49M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Slovakia+$62.6MCars
Top Product Potential Slovakia South Korea+$168MCars

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 Slovakia worth $103M, with Transportation ($40.9M), Other business services ($33.6M), and Services not allocated ($26.3M) being the largest in terms of value.

In 2020, Slovakia exported services to South Korea worth $8.11M, with Other business services ($2.74M), Transportation ($2.63M), and Computer and information services ($1.83M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

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

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