South Africa (ZAF) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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South Africa (ZAF) and South Korea (KOR) Trade

2022

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Exports $2.89BRnk 15 / 214

2022

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About

South Africa-South Korea In 2022, South Africa exported $2.89B to South Korea. The main products that South Africa exported to South Korea are Coal Briquettes ($1.37B), Iron Ore ($531M), and Platinum ($193M). During the last 27 years the exports of South Africa to South Korea have increased at an annualized rate of 3.1%, from $1.27B in 1995 to $2.89B in 2022.

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

South Korea-South Africa 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). During the last 27 years the exports of South Korea to South Africa have increased at an annualized rate of 2.64%, from $617M in 1995 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

February, 2024

About

Overview In February 2024, South Africa exported ZAR2B and imported ZAR1.13B from South Korea, resulting in a positive trade balance of ZAR866M. Between February 2023 and February 2024 the exports of South Africa have decreased by ZAR-1.57B (-44.1%) from ZAR3.57B to ZAR2B, while imports decreased by ZAR-79.1M (-6.54%) from ZAR1.21B to ZAR1.13B.

Trade In February 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 February 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 February 2024 the exports of South Africa were mainly from Richards Bay (ZAR1.27B), Saldanha Bay (ZAR414M), Durban (ZAR81.2M), Germiston/Alberton (ZAR70.3M), and Johannesburg (ZAR67.2M), while imports destinations were mainly Durban (ZAR727M), O.R. Tambo Int Airport (ZAR146M), Richards Bay (ZAR75.6M), Port Elizabeth (ZAR74.7M), and Cape Town (ZAR61.8M).

Growth In February 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 February 2024, the decrease in South Africa's year-by-year imports from South Korea was explained primarily by an decrease in product imports in Vinyl Chloride Polymers (ZAR-38.5M or -94.7%), Ethylene Polymers (ZAR-30.5M or -81.8%), and Large Construction Vehicles (ZAR-22M or -45.5%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)ZAR-1.57B(-44.1%)

IMPORT GROWTH (February 2023 - February 2024)ZAR-79.1M(-6.54%)

MAIN EXPORTER (February 2024)Richards BayZAR1.27B

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.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

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 27 years the exports of South Africa to South Korea have increased at an annualized rate of 3.1%, from $1.27B in 1995 to $2.89B in 2022.

In 2022, 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 27 years the exports of South Korea to South Africa have increased at an annualized rate of 2.64%, from $617M in 1995 to $1.25B in 2022.

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

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

Market Competitiveness

Color

Exports

Export Growth

Section

Year

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 2021, countries that imported more from South Africa than South Korea were Botswana ($4.74B), Switzerland ($6.43B), and Namibia ($3.3B).

In 2021, countries that imported more from South Korea than South Africa were China ($150B), United States ($112B), and Vietnam ($60.7B).

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

Comparative Advantage South Africa - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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 2022, South Korea had a large net trade with South Africa in the exports of Transportation ($284M), Machines ($246M), and Mineral Products ($209M).

Service Trade

Bilateral Service Trade

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.

Service trade data is presented based on availability.

Services Exports from South Korea () to South Africa () (2005)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more South Africa has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over South Africa.

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

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