2022
Flag  
GDP
$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
Flag
GDP GROWTH
85.2%CURRENT US$
Rnk 24 / 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 
$2,389CURRENT US$
Rnk 140 / 186
2012-2022
Flag
GDP PC GROWTH
66.6%CURRENT US$
Rnk 20 / 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

India-South Korea Trade: In 2022, India exported $8.2B to South Korea. The main products that India exported to South Korea were Refined Petroleum ($2.58B), Raw Aluminium ($1.34B), and Raw Lead ($252M). Over the past 5 years the exports of India to South Korea have increased at an annualized rate of 11.5%, from $4.75B in 2017 to $8.2B in 2022.

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

South Korea-India Trade: In 2022, South Korea exported $20.6B to India. The main products that South Korea exported to India were Integrated Circuits ($2.23B), Special Purpose Ships ($1.96B), and Refined Petroleum ($941M). Over the past 5 years the exports of South Korea to India have increased at an annualized rate of 5.95%,  from $15.4B in 2017 to $20.6B in 2022.

In 2005, South Korea exported services to India worth $475M, with Transportation ($299M), Services not allocated ($82.3M), and Travel ($56.3M) being the largest in terms of value.

Comparison: In 2022,  India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B). 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, India exported $8.2B to South Korea. The main products exported from India to South Korea were Refined Petroleum ($2.58B), Raw Aluminium ($1.34B), and Raw Lead ($252M). During the last 5 years the exports of India to South Korea have increased at an annualized rate of 11.5%, from $4.75B in 2017 to $8.2B in 2022.

In 2017, South Korea exported $20.6B to India. The main products exported from South Korea to India were Integrated Circuits ($2.23B), Special Purpose Ships ($1.96B), and Refined Petroleum ($941M). During the last 5 years the exports of South Korea to India have increased at an annualized rate of 5.95%, from $15.4B in 2022 to $20.6B in 2017.

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

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

Market Competitiveness

Color
India
Top Destination
United States$82.9B
South Korea
Top Destination
China$150B

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

In 2022, countries that imported more from India than South Korea included United Arab Emirates ($31.6B), Bangladesh ($13.8B), and Netherlands ($17.6B).

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

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

Comparative Advantage India - South Korea

Flow
Scale

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

During 2022, India had a large net trade with South Korea in the exports of Mineral Products ($2.69B), Metals ($2.19B), and Chemical Products ($1.02B).

During 2017, South Korea had a large net trade with India in the exports of Machines ($6.35B), Metals ($4.1B), and Transportation ($3.15B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India South Korea+$1.25BRefined Petroleum
Top Product Potential South Korea India+$912MIntegrated Circuits

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

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

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