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2022
Flag → Flag
Exports $344MRnk 81 / 220
2022
Flag → Flag
Top Product $113MRefined Petroleum
2022
Flag → Flag
Exports $66MRnk 23 / 164
2022
Flag → Flag
Top Product $23.2MRaw Tobacco
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI -1.08Rnk 116 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$75.7BCURRENT US$
Rnk 75 / 186
2012-2022
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GDP GROWTH90.9%CURRENT US$
Rnk 18 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$1,192CURRENT US$
Rnk 163 / 186
2012-2022
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GDP PC GROWTH39.5%CURRENT US$
Rnk 49 / 186

About

South Korea-Tanzania Trade: In 2022, South Korea exported $344M to Tanzania. The main products that South Korea exported to Tanzania were Refined Petroleum ($113M), X-Ray Equipment ($16.1M), and Locomotive Parts ($14.4M). Over the past 5 years the exports of South Korea to Tanzania have increased at an annualized rate of 15.3%, from $169M in 2017 to $344M in 2022.

In 2022, South Korea did not export any services to Tanzania.

Tanzania-South Korea Trade: In 2022, Tanzania exported $66M to South Korea. The main products that Tanzania exported to South Korea were Raw Tobacco ($23.2M), Copper Ore ($21.6M), and Precipitated Copper ($11.2M). Over the past 5 years the exports of Tanzania to South Korea have increased at an annualized rate of 12.2%,  from $37.2M in 2017 to $66M in 2022.

In 2022, Tanzania did not export any services to South Korea.

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Tanzania ranked 116 in the Economic Complexity Index (ECI -1.08), and 104 in total exports ($10B).

Latest Trends

August, 2024

About

Overview In August 2024, South Korea exported $11.5M and imported $1.53M from Tanzania, resulting in a positive trade balance of $9.94M. Between August 2023 and August 2024 the exports of South Korea have decreased by $-5.01M (-30.4%) from $16.5M to $11.5M, while imports decreased by $-3.55M (-69.9%) from $5.08M to $1.53M.

Trade In August 2024, the top exports of South Korea to Tanzania were Mineral fuels, mineral oils and products... ($71.3M), Iron & steel ($1.84M), Plastics & articles thereof ($1.72M), Inorganic chemicals ($1.34M), and Zinc articles ($1.13M). In August 2024 the top imports of South Korea from Tanzania were Ores, slag and ash ($7.91M), Copper articles ($2.86M), Tobacco & substitutes ($1.18M), Coffee, tea, mate & spices ($1.18M), and Oils seeds, oleaginous fruits, grains, straw... ($188k).

Growth In August 2024, the decrease in South Korea's year-by-year exports to Tanzania was explained primarily by an decrease in product exports in Plastics & articles thereof ($-3.34M or -65.9%), Inorganic chemicals ($-1.64M or -55.1%), and Used clothes & textile articles ($-696k or -40.3%). In August 2024, the decrease in South Korea's year-by-year imports  from Tanzania was explained primarily by an decrease in product imports  in Tobacco & substitutes ($-1.78M or -60.1%), Electrical machinery and electronics ($-35k or -100%), and Live trees, plants, bulbs, cut flowers,... ($-25k or -36.8%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$-5.01M(-30.4%)
IMPORT GROWTH (August 2023 - August 2024)$-3.55M(-69.9%)

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

For full datasets download visit Bulk Download page.

Explore Tanzania and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $344M to Tanzania. The main products exported from South Korea to Tanzania were Refined Petroleum ($113M), X-Ray Equipment ($16.1M), and Locomotive Parts ($14.4M). During the last 5 years the exports of South Korea to Tanzania have increased at an annualized rate of 15.3%, from $169M in 2017 to $344M in 2022.

In 2017, Tanzania exported $66M to South Korea. The main products exported from Tanzania to South Korea were Raw Tobacco ($23.2M), Copper Ore ($21.6M), and Precipitated Copper ($11.2M). During the last 5 years the exports of Tanzania to South Korea have increased at an annualized rate of 12.2%, from $37.2M in 2022 to $66M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Tanzania
Top DestinationIndia$2.73B

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

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

In 2022, countries that imported more from Tanzania than South Korea included Rwanda ($474M), Uganda ($264M), and Democratic Republic of the Congo ($329M).

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

Comparative Advantage South Korea - Tanzania

Flow
Scale

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

During 2022, South Korea had a large net trade with Tanzania in the exports of Mineral Products ($114M), Plastics and Rubbers ($64.2M), and Chemical Products ($41.5M).

During 2017, Tanzania had a large net trade with South Korea in the exports of Foodstuffs ($23.6M), Mineral Products ($21.6M), and Metals ($12M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Tanzania+$78.3MRefined Petroleum
Top Product Potential Tanzania South Korea+$18.1MCopper Ore

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 Tanzania. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Tanzania. Similarly, a dot/product with the flag of Tanzania indicates it has a comparative advantage over South Korea.

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

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