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2022
Flag → Flag
Exports $2.89BRnk 15 / 214
2022
Flag → Flag
Top Product $1.37BCoal Briquettes
2022
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Exports $1.25BRnk 49 / 220
2022
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Top Product $189MCars
2022
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Economic Complexity (ECI) ECI 0.076Rnk 59 / 133
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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GDP$406BCURRENT US$
Rnk 37 / 186
2012-2022
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GDP GROWTH-6.57%CURRENT US$
Rnk 171 / 186
2022
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 GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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GDP PC $6,776CURRENT US$
Rnk 95 / 186
2012-2022
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GDP PC GROWTH-17.1%CURRENT US$
Rnk 167 / 186
2022
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GDP PC$32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186

About

South Africa-South Korea Trade: In 2022, South Africa exported $2.89B to South Korea. The main products that South Africa exported to South Korea were Coal Briquettes ($1.37B), Iron Ore ($531M), and Platinum ($193M). Over the past 5 years the exports of South Africa to South Korea have increased at an annualized rate of 6.39%, from $2.12B in 2017 to $2.89B in 2022.

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

South Korea-South Africa Trade: In 2022, South Korea exported $1.25B to South Africa. The main products that South Korea exported to South Africa were Cars ($189M), Refined Petroleum ($153M), and Aluminium Plating ($86.6M). Over the past 5 years the exports of South Korea to South Africa have increased at an annualized rate of 3.64%,  from $1.04B in 2017 to $1.25B in 2022.

In 2005, South Korea exported services to South Africa worth $94.6M, with Transportation ($80.7M), Travel ($6.9M), and Other business services ($4.1M) being the largest in terms of value.

Comparison: In 2022,  South Africa ranked 59 in the Economic Complexity Index (ECI 0.076), and 34 in total exports ($147B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Latest Trends

August, 2024

About

Overview In August 2024, South Africa exported ZAR1.93B and imported ZAR1.56B from South Korea, resulting in a positive trade balance of ZAR379M. Between August 2023 and August 2024 the exports of South Africa have decreased by ZAR-2.46B (-55.9%) from ZAR4.39B to ZAR1.93B, while imports increased by ZAR279M (21.9%) from ZAR1.28B to ZAR1.56B.

Trade In August 2024, the top exports of South Africa to South Korea were Coal Briquettes (ZAR2.02B), Iron Ore (ZAR838M), Manganese Ore (ZAR98M), Delivery Trucks (ZAR42.6M), and Alcohol > 80% ABV (ZAR21.5M). In August 2024 the top imports of South Africa from South Korea were Cars (ZAR392M), Delivery Trucks (ZAR79M), Aluminium Plating (ZAR71.8M), Motor vehicles; parts and accessories (8701... (ZAR46.3M), and Office Machine Parts (ZAR37.1M).

Origins In August 2024 the exports of South Africa were mainly from Richards Bay (ZAR744M), Saldanha Bay (ZAR536M), Port Elizabeth (ZAR341M), Durban (ZAR151M), and O.R. Tambo Int Airport (ZAR65.6M), while imports destinations were mainly Durban (ZAR1.1B), Cape Town (ZAR133M), O.R. Tambo Int Airport (ZAR119M), Richards Bay (ZAR93.1M), and Port Elizabeth (ZAR62.2M).

Growth In August 2024, the decrease in South Africa's year-by-year exports to South Korea was explained primarily by an decrease in product exports in Manganese Ore (ZAR-114M or -53.8%), Aluminium Powder (ZAR-13.8M or -69.4%), and Aluminium Plating (ZAR-7.12M or -67.2%). In August 2024, the increase in South Africa's year-by-year imports  from South Korea was explained primarily by an increase in product imports  in Cars (ZAR64M or 19.5%), Aluminium Plating (ZAR44.9M or 167%), and Electric Generating Sets (ZAR31.7M or 6.58k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)ZAR-2.46B(-55.9%)
IMPORT GROWTH (August 2023 - August 2024)ZAR279M(21.9%)
MAIN EXPORTER (August 2024)Richards BayZAR744M

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

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

For full datasets download visit Bulk Download page.

Explore South Korea and South Africa Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Africa exported $2.89B to South Korea. The main products exported from South Africa to South Korea were Coal Briquettes ($1.37B), Iron Ore ($531M), and Platinum ($193M). During the last 5 years the exports of South Africa to South Korea have increased at an annualized rate of 6.39%, from $2.12B in 2017 to $2.89B in 2022.

In 2017, South Korea exported $1.25B to South Africa. The main products exported from South Korea to South Africa were Cars ($189M), Refined Petroleum ($153M), and Aluminium Plating ($86.6M). During the last 5 years the exports of South Korea to South Africa have increased at an annualized rate of 3.64%, from $1.04B in 2022 to $1.25B in 2017.

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

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

Market Competitiveness

Color
South Africa
Top DestinationChina$23.4B
South Korea
Top DestinationChina$150B

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

In 2022, countries that imported more from South Africa than South Korea included Botswana ($4.74B), Switzerland ($6.43B), and Namibia ($3.3B).

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

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

Comparative Advantage South Africa - South Korea

Flow
Scale

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

During 2022, South Africa had a large net trade with South Korea in the exports of Mineral Products ($2.09B), Metals ($245M), and Precious Metals ($193M).

During 2017, South Korea had a large net trade with South Africa in the exports of Transportation ($284M), Machines ($246M), and Mineral Products ($209M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Africa South Korea+$104MCoal Briquettes
Top Product Potential South Korea South Africa+$154MRefined 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

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

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

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