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2022
Flag → Flag
Exports $8.42BRnk 17 / 220
2022
Flag → Flag
Top Product $690MPolycarboxylic Acids
2022
Flag → Flag
Exports $1.07BRnk 51 / 219
2022
Flag → Flag
Top Product $429MVaccines, blood, antisera, toxins and cultures
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.6Rnk 41 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP$906BCURRENT US$
Rnk 19 / 186
2012-2022
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GDP GROWTH2.89%CURRENT US$
Rnk 160 / 186
2022
Flag
GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC$10,616CURRENT US$
Rnk 75 / 186
2012-2022
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GDP PC GROWTH-9.24%CURRENT US$
Rnk 162 / 186

About

South Korea-Turkey Trade: In 2022, South Korea exported $8.42B to Turkey. The main products that South Korea exported to Turkey were Polycarboxylic Acids ($690M), Vaccines, blood, antisera, toxins and cultures ($498M), and Motor vehicles; parts and accessories (8701 to 8705) ($349M). Over the past 5 years the exports of South Korea to Turkey have increased at an annualized rate of 5.39%, from $6.48B in 2017 to $8.42B in 2022.

In 2005, South Korea exported services to Turkey worth $186M, with Transportation ($161M), Other business services ($18.9M), and Travel ($10.6M) being the largest in terms of value.

Turkey-South Korea Trade: In 2022, Turkey exported $1.07B to South Korea. The main products that Turkey exported to South Korea were Vaccines, blood, antisera, toxins and cultures ($429M), Engine Parts ($42.6M), and Fish Fillets ($31M). Over the past 5 years the exports of Turkey to South Korea have increased at an annualized rate of 10.1%,  from $663M in 2017 to $1.07B in 2022.

In 2014, Turkey exported services to South Korea worth $2.79M, with Insurance services ($2.79M) 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, Turkey ranked 41 in the Economic Complexity Index (ECI 0.6), and 29 in total exports ($262B).

Latest Trends

August, 2024

About

Overview In August 2024, South Korea exported $623M and imported $122M from Turkey, resulting in a positive trade balance of $502M. Between August 2023 and August 2024 the exports of South Korea have decreased by $-128M (-17.1%) from $752M to $623M, while imports increased by $30.1M (32.9%) from $91.6M to $122M.

Trade In August 2024, the top exports of South Korea to Turkey were Plastics & articles thereof ($155M), Iron & steel ($113M), Organic chemicals ($87.2M), Machinery, mechanical appliances, & parts ($83.9M), and Cars, tractors, trucks & parts thereof. ($60.1M). In August 2024 the top imports of South Korea from Turkey were Pharmaceutical products ($41.8M), Machinery, mechanical appliances, & parts ($11.5M), Knitted clothing accesories ($6.49M), Cars, tractors, trucks & parts thereof. ($5.37M), and Non-knitted clothing accesories ($4.96M).

Growth In August 2024, the decrease in South Korea's year-by-year exports to Turkey was explained primarily by an decrease in product exports in Man-made filaments ($-5.72M or -21.5%), Optical, photo, & film equipment; medical... ($-2.79M or -17.1%), and Soap, cleaners, candles, dental, modelling pastes ($-1.1M or -14.1%). In August 2024, the increase in South Korea's year-by-year imports  from Turkey was explained primarily by an increase in product imports  in Pharmaceutical products ($23.1M or 124%), Cars, tractors, trucks & parts thereof. ($2.78M or 107%), and Precious stones, metals, & pearls ($2.08M or 1.14k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$-128M(-17.1%)
IMPORT GROWTH (August 2023 - August 2024)$30.1M(32.9%)

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

For full datasets download visit Bulk Download page.

Explore Turkey and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $8.42B to Turkey. The main products exported from South Korea to Turkey were Polycarboxylic Acids ($690M), Vaccines, blood, antisera, toxins and cultures ($498M), and Motor vehicles; parts and accessories (8701 to 8705) ($349M). During the last 5 years the exports of South Korea to Turkey have increased at an annualized rate of 5.39%, from $6.48B in 2017 to $8.42B in 2022.

In 2017, Turkey exported $1.07B to South Korea. The main products exported from Turkey to South Korea were Vaccines, blood, antisera, toxins and cultures ($429M), Engine Parts ($42.6M), and Fish Fillets ($31M). During the last 5 years the exports of Turkey to South Korea have increased at an annualized rate of 10.1%, from $663M in 2022 to $1.07B in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Turkey
Top DestinationGermany$21.9B

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

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

In 2022, countries that imported more from Turkey than South Korea included Iraq ($13.7B), Germany ($21.9B), and Romania ($7.88B).

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

Comparative Advantage South Korea - Turkey

Flow
Scale

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

During 2022, South Korea had a large net trade with Turkey in the exports of Metals ($1.75B), Chemical Products ($1.73B), and Plastics and Rubbers ($1.69B).

During 2017, Turkey had a large net trade with South Korea in the exports of Chemical Products ($476M), Machines ($128M), and Metals ($89.8M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Turkey+$239MCars
Top Product Potential Turkey South Korea+$37.2MMotor vehicles; parts and accessories (8701 to 8705)

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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Economic Complexity

Competitive Landscape

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

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

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