2022
Flag  
GDP
$70.3BCURRENT US$
Rnk 81 / 186
2012-2022
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GDP GROWTH
63.8%CURRENT US$
Rnk 38 / 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 
$24,827CURRENT US$
Rnk 45 / 186
2012-2022
Flag
GDP PC GROWTH
72.8%CURRENT US$
Rnk 17 / 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

Lithuania-South Korea Trade: In 2022, Lithuania exported $139M to South Korea. The main products that Lithuania exported to South Korea were Sawn Wood ($19.8M), Other Plastic Products ($17.6M), and LCDs ($13.8M). Over the past 5 years the exports of Lithuania to South Korea have increased at an annualized rate of 7.78%, from $95.5M in 2017 to $139M in 2022.

In 2020, Lithuania exported services to South Korea worth $1.48M, with Transportation ($685k), Other business services ($571k), and Travel ($114k) being the largest in terms of value.

South Korea-Lithuania Trade: In 2022, South Korea exported $381M to Lithuania. The main products that South Korea exported to Lithuania were Polycarboxylic Acids ($289M), Other Plastic Products ($9.15M), and Beauty Products ($6.64M). Over the past 5 years the exports of South Korea to Lithuania have increased at an annualized rate of 7.57%,  from $264M in 2017 to $381M in 2022.

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

Comparison: In 2022,  Lithuania ranked 30 in the Economic Complexity Index (ECI 0.93), and 62 in total exports ($46.9B). 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, Lithuania exported $139M to South Korea. The main products exported from Lithuania to South Korea were Sawn Wood ($19.8M), Other Plastic Products ($17.6M), and LCDs ($13.8M). During the last 5 years the exports of Lithuania to South Korea have increased at an annualized rate of 7.78%, from $95.5M in 2017 to $139M in 2022.

In 2017, South Korea exported $381M to Lithuania. The main products exported from South Korea to Lithuania were Polycarboxylic Acids ($289M), Other Plastic Products ($9.15M), and Beauty Products ($6.64M). During the last 5 years the exports of South Korea to Lithuania have increased at an annualized rate of 7.57%, from $264M in 2022 to $381M in 2017.

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

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

Latest Data

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

Lithuania Exports

South Korea Exports

Market Competitiveness

Color
Lithuania
Top Destination
Latvia$6.18B
South Korea
Top Destination
China$150B

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

In 2022, countries that imported more from Lithuania than South Korea included Latvia ($6.18B), Estonia ($2.27B), and Belarus ($1.5B).

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

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

Comparative Advantage Lithuania - South Korea

Flow
Scale

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

During 2022, Lithuania had a large net trade with South Korea in the exports of Instruments ($24.6M), Wood Products ($22.9M), and Plastics and Rubbers ($18.2M).

During 2017, South Korea had a large net trade with Lithuania in the exports of Chemical Products ($306M), Plastics and Rubbers ($30M), and Machines ($12.5M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Lithuania South Korea+$5.3MRefined Petroleum
Top Product Potential South Korea Lithuania+$10.3MCars

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 Lithuania and South Korea. This means that a dot/product with the flag of Lithuania 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 Lithuania.

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

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