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2022
Flag → Flag
Exports $298MRnk 35 / 208
2022
Flag → Flag
Top Product $66.1MRubber Tires
2022
Flag → Flag
Exports $930MRnk 58 / 220
2022
Flag → Flag
Top Product $228MRefined Petroleum
2022
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag  
GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
Flag
GDP GROWTH16.5%CURRENT US$
Rnk 132 / 186
2022
Flag
 GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC $24,275CURRENT US$
Rnk 46 / 186
2012-2022
Flag
GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186
2022
Flag
GDP PC$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186

About

Portugal-South Korea Trade: In 2022, Portugal exported $298M to South Korea. The main products that Portugal exported to South Korea were Rubber Tires ($66.1M), Knit Sweaters ($19.6M), and Cars ($14.3M). Over the past 5 years the exports of Portugal to South Korea have increased at an annualized rate of 10.4%, from $182M in 2017 to $298M in 2022.

In 2020, Portugal exported services to South Korea worth $18.3M, with Travel ($18.3M) being the largest in terms of value.

South Korea-Portugal Trade: In 2022, South Korea exported $930M to Portugal. The main products that South Korea exported to Portugal were Refined Petroleum ($228M), Cars ($89.2M), and Coated Flat-Rolled Iron ($67.7M). Over the past 5 years the exports of South Korea to Portugal have increased at an annualized rate of 14.4%,  from $475M in 2017 to $930M in 2022.

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

Comparison: In 2022,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Latest Trends

June, 2024

About

Overview In June 2024, Portugal exported €11.5M and imported €68.1M from South Korea, resulting in a negative trade balance of €56.6M. Between June 2023 and June 2024 the exports of Portugal have decreased by €-3.32M (-22.4%) from €14.8M to €11.5M, while imports decreased by €-22.4M (-24.8%) from €90.6M to €68.1M.

Trade In June 2024, the top exports of Portugal to South Korea were Rubber & articles thereof (€7.54M), Cars, tractors, trucks & parts thereof. (€1.39M), Electrical machinery and electronics (€887k), Machinery, mechanical appliances, & parts (€776k), and Knitted clothing accesories (€767k). In June 2024 the top imports of Portugal from South Korea were Iron & steel (€15.2M), Plastics & articles thereof (€8.8M), Machinery, mechanical appliances, & parts (€7.61M), Electrical machinery and electronics (€6.59M), and Organic chemicals (€2.89M).

Growth In June 2024, the decrease in Portugal's year-by-year exports to South Korea was explained primarily by an decrease in product exports in Pharmaceutical products (€-6.31M or -91.1%), Preparations of cereals, flour, starch or... (€-245k or -37.8%), and Miscellaneous edible preparations (€-216k or -100%). In June 2024, the decrease in Portugal's year-by-year imports  from South Korea was explained primarily by an decrease in product imports  in Organic chemicals (€-6.91M or -70.5%), Plastics & articles thereof (€-1.61M or -15.5%), and Chemical products n.e.s. (€-1.28M or -97.3%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (June 2023 - June 2024)€-3.32M(-22.4%)
IMPORT GROWTH (June 2023 - June 2024)€-22.4M(-24.8%)

This section shows exports and imports data at subnational level for Portugal. Click any date in the line plot or any product to explore the exports or imports behavior of Portugal over time.

To check South Korea and Portugal trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore South Korea and Portugal Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Portugal exported $298M to South Korea. The main products exported from Portugal to South Korea were Rubber Tires ($66.1M), Knit Sweaters ($19.6M), and Cars ($14.3M). During the last 5 years the exports of Portugal to South Korea have increased at an annualized rate of 10.4%, from $182M in 2017 to $298M in 2022.

In 2017, South Korea exported $930M to Portugal. The main products exported from South Korea to Portugal were Refined Petroleum ($228M), Cars ($89.2M), and Coated Flat-Rolled Iron ($67.7M). During the last 5 years the exports of South Korea to Portugal have increased at an annualized rate of 14.4%, from $475M in 2022 to $930M in 2017.

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

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

Market Competitiveness

Color
Portugal
Top DestinationSpain$20.5B
South Korea
Top DestinationChina$150B

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

In 2022, countries that imported more from Portugal than South Korea included Spain ($20.5B), France ($9.49B), and Angola ($1.59B).

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

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

Comparative Advantage Portugal - South Korea

Flow
Scale

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

During 2022, Portugal had a large net trade with South Korea in the exports of Plastics and Rubbers ($79.5M), Textiles ($47.7M), and Machines ($37M).

During 2017, South Korea had a large net trade with Portugal in the exports of Mineral Products ($228M), Machines ($196M), and Plastics and Rubbers ($143M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Portugal South Korea+$23.8MCars
Top Product Potential South Korea Portugal+$78.3MCars

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

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

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