2022
Flag  
GDP
$344BCURRENT US$
Rnk 43 / 186
2012-2022
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GDP GROWTH
-7.22%CURRENT US$
Rnk 172 / 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 
$6,630CURRENT US$
Rnk 98 / 186
2012-2022
Flag
GDP PC GROWTH
-18.1%CURRENT US$
Rnk 169 / 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

Colombia-South Korea Trade: In 2022, Colombia exported $617M to South Korea. The main products that Colombia exported to South Korea were Coal Briquettes ($260M), Coffee ($175M), and Ferroalloys ($81.8M). Over the past 5 years the exports of Colombia to South Korea have increased at an annualized rate of 5.11%, from $481M in 2017 to $617M in 2022.

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

South Korea-Colombia Trade: In 2022, South Korea exported $1B to Colombia. The main products that South Korea exported to Colombia were Cars ($125M), Large Construction Vehicles ($48.9M), and Alkylbenzenes and Alkylnaphthalenes ($46.2M). Over the past 5 years the exports of South Korea to Colombia have increased at an annualized rate of 2.62%,  from $880M in 2017 to $1B in 2022.

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

Comparison: In 2022,  Colombia ranked 58 in the Economic Complexity Index (ECI 0.11), and 53 in total exports ($60.3B). 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, Colombia exported $617M to South Korea. The main products exported from Colombia to South Korea were Coal Briquettes ($260M), Coffee ($175M), and Ferroalloys ($81.8M). During the last 5 years the exports of Colombia to South Korea have increased at an annualized rate of 5.11%, from $481M in 2017 to $617M in 2022.

In 2017, South Korea exported $1B to Colombia. The main products exported from South Korea to Colombia were Cars ($125M), Large Construction Vehicles ($48.9M), and Alkylbenzenes and Alkylnaphthalenes ($46.2M). During the last 5 years the exports of South Korea to Colombia have increased at an annualized rate of 2.62%, from $880M in 2022 to $1B in 2017.

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

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

Latest Data

Trade between Colombia (Flag) and South Korea (Flag)

Colombia Exports

South Korea Exports

Market Competitiveness

Color
Colombia
Top Destination
United States$15.6B
South Korea
Top Destination
China$150B

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

In 2022, countries that imported more from Colombia than South Korea included Panama ($5.84B), Ecuador ($1.89B), and Venezuela ($632M).

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

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

Comparative Advantage Colombia - South Korea

Flow
Scale

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

During 2022, Colombia had a large net trade with South Korea in the exports of Mineral Products ($260M), Vegetable Products ($198M), and Metals ($127M).

During 2017, South Korea had a large net trade with Colombia in the exports of Plastics and Rubbers ($248M), Machines ($191M), and Transportation ($172M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Colombia South Korea+$151MCoal Briquettes
Top Product Potential South Korea Colombia+$81.5MCars

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

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

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