Sri Lanka (LKA) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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Sri Lanka-South Korea Trade: In 2022, Sri Lanka exported $104M to South Korea. The main products that Sri Lanka exported to South Korea were Rubber Apparel ($8.51M), Non-Knit Women's Suits ($8.46M), and Coconut and Other Vegetable Fibers ($7.43M). Over the past 5 years the exports of Sri Lanka to South Korea have increased at an annualized rate of 7.02%, from $73.8M in 2017 to $104M in 2022.

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

South Korea-Sri Lanka Trade: In 2022, South Korea exported $230M to Sri Lanka. The main products that South Korea exported to Sri Lanka were Synthetic Rubber ($25.9M), Aluminium Plating ($17.2M), and Refined Petroleum ($15.8M). Over the past 5 years the exports of South Korea to Sri Lanka have decreased at an annualized rate of 7.36%, from $337M in 2017 to $230M in 2022.

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

Comparison: In 2022, Sri Lanka ranked 82 in the Economic Complexity Index (ECI -0.35), and 89 in total exports ($14.8B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Sri Lanka exported $104M to South Korea. The main products exported from Sri Lanka to South Korea were Rubber Apparel ($8.51M), Non-Knit Women's Suits ($8.46M), and Coconut and Other Vegetable Fibers ($7.43M). During the last 5 years the exports of Sri Lanka to South Korea have increased at an annualized rate of 7.02%, from $73.8M in 2017 to $104M in 2022.

In 2017, South Korea exported $230M to Sri Lanka. The main products exported from South Korea to Sri Lanka were Synthetic Rubber ($25.9M), Aluminium Plating ($17.2M), and Refined Petroleum ($15.8M). During the last 5 years the exports of South Korea to Sri Lanka have decreased at an annualized rate of 7.36%, from $337M in 2022 to $230M in 2017.

Exports from Sri Lanka () to South Korea () (2022)

Exports from South Korea () to Sri Lanka () (2022)

Latest Data

Trade between Sri Lanka () and South Korea ()

Sri Lanka Exports

Date

Feb 2012

Jan 2012

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South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Sri Lanka
Top DestinationUnited States$3.52B

South Korea
Top DestinationChina$150B

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

In 2022, countries that imported more from Sri Lanka than South Korea included Maldives ($128M), Syria ($36M), and Sierra Leone ($17M).

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

Difference in imports from South Korea () and Sri Lanka () (2022)

Comparative Advantage Sri Lanka - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Sri Lanka had a large net trade with South Korea in the exports of Textiles ($48.6M), Plastics and Rubbers ($14M), and Vegetable Products ($7.19M).

During 2017, South Korea had a large net trade with Sri Lanka in the exports of Textiles ($63.1M), Plastics and Rubbers ($54.2M), and Metals ($36M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Sri Lanka South Korea+$10.1MNon-Knit Women's Suits

Top Product Potential South Korea Sri Lanka+$30.7MRefined Petroleum

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

Year

This visualization shows the product space at the HS4 level with the flags of Sri Lanka and South Korea. This means that a dot/product with the flag of Sri Lanka 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 Sri Lanka.

About

Historical Data

Bilateral Trade by Products

Exports from Sri Lanka () to South Korea () (2022)

Exports from South Korea () to Sri Lanka () (2022)

Latest Data

Trade between Sri Lanka () and South Korea ()

Sri Lanka Exports

South Korea Exports

Market Competitiveness

Difference in imports from South Korea () and Sri Lanka () (2022)

Comparative Advantage Sri Lanka - South Korea

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Sri Lanka () and South Korea () (2022)

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