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2022
Flag → Flag
Exports $8.92BRnk 15 / 220
2022
Flag → Flag
Top Product $981MIntegrated Circuits
2022
Flag → Flag
Exports $7.01BRnk 13 / 218
2022
Flag → Flag
Top Product $640MRefined Petroleum
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 0.96Rnk 29 / 133
2022
Flag  
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$495BCURRENT US$
Rnk 29 / 186
2012-2022
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GDP GROWTH24.6%CURRENT US$
Rnk 111 / 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
2022
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GDP PC$6,909CURRENT US$
Rnk 93 / 186
2012-2022
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GDP PC GROWTH20.2%CURRENT US$
Rnk 87 / 186

About

South Korea-Thailand Trade: In 2022, South Korea exported $8.92B to Thailand. The main products that South Korea exported to Thailand were Integrated Circuits ($981M), Coated Flat-Rolled Iron ($418M), and Cold-Rolled Iron ($352M). Over the past 5 years the exports of South Korea to Thailand have increased at an annualized rate of 2.86%, from $7.75B in 2017 to $8.92B in 2022.

In 2005, South Korea exported services to Thailand worth $908M, with Services not allocated ($409M), Transportation ($342M), and Travel ($94.9M) being the largest in terms of value.

Thailand-South Korea Trade: In 2022, Thailand exported $7.01B to South Korea. The main products that Thailand exported to South Korea were Refined Petroleum ($640M), Integrated Circuits ($490M), and Rubber ($388M). Over the past 5 years the exports of Thailand to South Korea have increased at an annualized rate of 6.42%,  from $5.14B in 2017 to $7.01B in 2022.

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

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 27 in total exports ($312B).

Latest Trends

July, 2024

About

Overview In July 2024, South Korea exported $776M and imported $683M from Thailand, resulting in a positive trade balance of $93.3M. Between July 2023 and July 2024 the exports of South Korea have increased by $121M (18.4%) from $656M to $776M, while imports increased by $19.9M (3%) from $663M to $683M.

Trade In July 2024, the top exports of South Korea to Thailand were Electrical machinery and electronics ($126M), Iron & steel ($125M), Mineral fuels, mineral oils and products... ($62.8M), Machinery, mechanical appliances, & parts ($51.9M), and Plastics & articles thereof ($50.7M). In July 2024 the top imports of South Korea from Thailand were Electrical machinery and electronics ($127M), Machinery, mechanical appliances, & parts ($66M), Rubber & articles thereof ($48.2M), Mineral fuels, mineral oils and products... ($36.9M), and Wood, wood articles, & charcoal ($20.9M).

Growth In July 2024, the increase in South Korea's year-by-year exports to Thailand was explained primarily by an increase in product exports in Mineral fuels, mineral oils and products... ($51.3M or 450%), Fish, crustaceans, & molluscs ($9.07M or 84.4%), and Optical, photo, & film equipment; medical... ($4.61M or 46.9%). In July 2024, the increase in South Korea's year-by-year imports  from Thailand was explained primarily by an increase in product imports  in Sugars & confectioneries ($14.1M or 720%), Electrical machinery and electronics ($9.7M or 8.23%), and Aluminum articles ($4.08M or 34.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$121M(18.4%)
IMPORT GROWTH (July 2023 - July 2024)$19.9M(3%)

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

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

For full datasets download visit Bulk Download page.

Explore Thailand and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $8.92B to Thailand. The main products exported from South Korea to Thailand were Integrated Circuits ($981M), Coated Flat-Rolled Iron ($418M), and Cold-Rolled Iron ($352M). During the last 5 years the exports of South Korea to Thailand have increased at an annualized rate of 2.86%, from $7.75B in 2017 to $8.92B in 2022.

In 2017, Thailand exported $7.01B to South Korea. The main products exported from Thailand to South Korea were Refined Petroleum ($640M), Integrated Circuits ($490M), and Rubber ($388M). During the last 5 years the exports of Thailand to South Korea have increased at an annualized rate of 6.42%, from $5.14B in 2022 to $7.01B in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Thailand
Top DestinationUnited States$53.4B

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

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

In 2022, countries that imported more from Thailand than South Korea included Cambodia ($8.63B), Laos ($4.5B), and Burma ($4.7B).

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

Comparative Advantage South Korea - Thailand

Flow
Scale

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

During 2022, South Korea had a large net trade with Thailand in the exports of Metals ($2.54B), Machines ($2.49B), and Plastics and Rubbers ($1.03B).

During 2017, Thailand had a large net trade with South Korea in the exports of Machines ($1.9B), Plastics and Rubbers ($1.03B), and Foodstuffs ($913M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Thailand+$349MIntegrated Circuits
Top Product Potential Thailand South Korea+$353MIntegrated 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 Thailand. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Thailand. Similarly, a dot/product with the flag of Thailand indicates it has a comparative advantage over South Korea.

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

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