2022
Flag  
GDP
$4BCURRENT US$
Rnk 155 / 186
2012-2022
Flag
GDP GROWTH
43.3%CURRENT US$
Rnk 80 / 186
2022
Flag
 GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH
30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC 
$755CURRENT US$
Rnk 176 / 186
2012-2022
Flag
GDP PC GROWTH
17.1%CURRENT US$
Rnk 96 / 186
2022
Flag
GDP PC
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186

About

Liberia-South Korea Trade: In 2022, Liberia exported $12.5M to South Korea. The main products that Liberia exported to South Korea were Passenger and Cargo Ships ($9M), Scrap Copper ($2.37M), and Refined Petroleum ($490k). Over the past 5 years the exports of Liberia to South Korea have increased at an annualized rate of 9.37%, from $7.98M in 2017 to $12.5M in 2022.

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

South Korea-Liberia Trade: In 2022, South Korea exported $4.18B to Liberia. The main products that South Korea exported to Liberia were Passenger and Cargo Ships ($4.16B), Cars ($4.96M), and Propylene Polymers ($1.8M). Over the past 5 years the exports of South Korea to Liberia have increased at an annualized rate of 21.4%,  from $1.31B in 2017 to $4.18B in 2022.

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

Comparison: In 2022,  Liberia ranked 128 in the Economic Complexity Index (ECI -1.72), and 144 in total exports ($1.96B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Liberia exported $12.5M to South Korea. The main products exported from Liberia to South Korea were Passenger and Cargo Ships ($9M), Scrap Copper ($2.37M), and Refined Petroleum ($490k). During the last 5 years the exports of Liberia to South Korea have increased at an annualized rate of 9.37%, from $7.98M in 2017 to $12.5M in 2022.

In 2017, South Korea exported $4.18B to Liberia. The main products exported from South Korea to Liberia were Passenger and Cargo Ships ($4.16B), Cars ($4.96M), and Propylene Polymers ($1.8M). During the last 5 years the exports of South Korea to Liberia have increased at an annualized rate of 21.4%, from $1.31B in 2022 to $4.18B in 2017.

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

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

Latest Data

Trade between Liberia (Flag) and South Korea (Flag)

South Korea Exports

Market Competitiveness

Color
Liberia
Top Destination
Switzerland$544M
South Korea
Top Destination
China$150B

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

In 2022, no countries were registered that imported more from Liberia than from South Korea.

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

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

Comparative Advantage Liberia - South Korea

Flow
Scale

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

During 2022, Liberia had a large net trade with South Korea in the exports of Transportation ($9.14M), Metals ($2.61M), and Mineral Products ($490k).

During 2017, South Korea had a large net trade with Liberia in the exports of Transportation ($4.17B), Plastics and Rubbers ($4.06M), and Chemical Products ($883k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Liberia South Korea+$3.99MPassenger and Cargo Ships
Top Product Potential South Korea Liberia+$2.08MCars

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

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

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