2022
Flag  
GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH
30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP
$72.8BCURRENT US$
Rnk 78 / 186
2012-2022
Flag
GDP GROWTH
10.8%CURRENT US$
Rnk 144 / 186
2022
Flag
GDP PC 
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC
$7,905CURRENT US$
Rnk 85 / 186
2012-2022
Flag
GDP PC GROWTH
13.7%CURRENT US$
Rnk 101 / 186

About

South Korea-Belarus Trade: In 2022, South Korea exported $37.5M to Belarus. The main products that South Korea exported to Belarus were Beauty Products ($3.28M), Orthopedic Appliances ($2.93M), and Cars ($2.93M). Over the past 5 years the exports of South Korea to Belarus have decreased at an annualized rate of 15.9%, from $89.1M in 2017 to $37.5M in 2022.

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

Belarus-South Korea Trade: In 2022, Belarus exported $13.9M to South Korea. The main products that Belarus exported to South Korea were Integrated Circuits ($4.46M), Antiknock ($2.97M), and Glass Fibers ($1.41M). Over the past 5 years the exports of Belarus to South Korea have decreased at an annualized rate of 20.5%,  from $43.7M in 2017 to $13.9M in 2022.

In 2014, Belarus exported services to South Korea worth $3.43M, with Computer and information services ($3.31M), Government services, n.i.e. ($97.2k), and Insurance services ($12k) being the largest in terms of value.

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Belarus ranked 32 in the Economic Complexity Index (ECI 0.82), and 100 in total exports ($10.4B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $37.5M to Belarus. The main products exported from South Korea to Belarus were Beauty Products ($3.28M), Orthopedic Appliances ($2.93M), and Cars ($2.93M). During the last 5 years the exports of South Korea to Belarus have decreased at an annualized rate of 15.9%, from $89.1M in 2017 to $37.5M in 2022.

In 2017, Belarus exported $13.9M to South Korea. The main products exported from Belarus to South Korea were Integrated Circuits ($4.46M), Antiknock ($2.97M), and Glass Fibers ($1.41M). During the last 5 years the exports of Belarus to South Korea have decreased at an annualized rate of 20.5%, from $43.7M in 2022 to $13.9M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top Destination
China$150B
Belarus
Top Destination
China$1.6B

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

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

In 2022, countries that imported more from Belarus than South Korea included Ukraine ($1.29B), Lithuania ($778M), and Latvia ($295M).

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

Comparative Advantage South Korea - Belarus

Flow
Scale

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

During 2022, South Korea had a large net trade with Belarus in the exports of Chemical Products ($7.66M), Instruments ($7M), and Machines ($6.33M).

During 2017, Belarus had a large net trade with South Korea in the exports of Machines ($5.05M), Chemical Products ($3.38M), and Stone And Glass ($1.47M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Belarus+$9.67MCars
Top Product Potential Belarus South Korea+$3.74MIntegrated 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 South Korea and Belarus. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Belarus. Similarly, a dot/product with the flag of Belarus indicates it has a comparative advantage over South Korea.

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

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