NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2022
Flag → Flag
Exports $41.2MRnk 27 / 0
2022
Flag → Flag
Exports $13.7MRnk 71 / 0
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.82Rnk 100 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195

About

South Korea-Venezuela Trade: In 2022, South Korea exported $41.2M to Venezuela. The main products that South Korea exported to Venezuela were N/A. Over the past 5 years the exports of South Korea to Venezuela have decreased at an annualized rate of 4.21%, from $51.1M in 2017 to $41.2M in 2022.

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

Venezuela-South Korea Trade: In 2022, Venezuela exported $13.7M to South Korea. The main products that Venezuela exported to South Korea were N/A. Over the past 5 years the exports of Venezuela to South Korea have decreased at an annualized rate of 3.53%,  from $16.9M in 2017 to $13.7M in 2022.

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

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $3.26M and imported $167k from Venezuela, resulting in a positive trade balance of $3.09M. Between December 2023 and December 2024 the exports of South Korea have increased by $66k (2.07%) from $3.19M to $3.26M, while imports decreased by $-271k (-61.9%) from $438k to $167k.

Trade In December 2024, the top exports of South Korea to Venezuela were Cars, tractors, trucks & parts thereof. ($1.34M), Iron & steel ($689k), Machinery, mechanical appliances, & parts ($417k), Mineral fuels, mineral oils and products... ($299k), and Plastics & articles thereof ($293k). In December 2024 the top imports of South Korea from Venezuela were Fish, Crustaceans & Molluscs ($93k), Live animals ($91k), Aluminum articles ($38k), Beverages, spirits, & vinegar ($22k), and Organic chemicals ($7k).

Growth In December 2024, the increase in South Korea's year-by-year exports to Venezuela was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($901k or 207%), Iron & steel ($627k or 1.01k%), and Machinery, mechanical appliances, & parts ($410k or 5.86k%). In December 2024, the decrease in South Korea's year-by-year imports  from Venezuela was explained primarily by an decrease in product imports  in Fish, Crustaceans & Molluscs ($-354k or -79.2%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$66k(2.07%)
IMPORT GROWTH (December 2023 - December 2024)$-271k(-61.9%)

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

For full datasets download visit Bulk Download page.

Explore Venezuela and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $41.2M to Venezuela. There were not main exports from South Korea to Venezuela in 2022. During the last 5 years the exports of South Korea to Venezuela have decreased at an annualized rate of 4.21%, from $51.1M in 2017 to $41.2M in 2022.

In 2017, Venezuela exported $13.7M to South Korea. There were not main exports from Venezuela to South Korea in 2017. During the last 5 years the exports of Venezuela to South Korea have decreased at an annualized rate of 3.53%, from $16.9M in 2022 to $13.7M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Venezuela
Top DestinationUnited States$3.81B

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

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

In 2023, countries that imported more from Venezuela than South Korea included Dominica ($10.5M).

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

Comparative Advantage South Korea - Venezuela

Flow
Scale

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

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

During 2017, Venezuela had a large net trade with South Korea in the exports of N/A.

Economic Complexity

Competitive Landscape

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

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

Keep Exploring

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 OECPrivacy PolicyTerms