Benin (BEN) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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Benin-South Korea Trade: In 2022, Benin exported $27.7k to South Korea. The main products that Benin exported to South Korea were Raw Sugar ($12.3k), Refined Petroleum ($8.24k), and Engine Parts ($6.47k). Over the past 5 years the exports of Benin to South Korea have decreased at an annualized rate of 73.3%, from $20.3M in 2017 to $27.7k in 2022.

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

South Korea-Benin Trade: In 2022, South Korea exported $35.8M to Benin. The main products that South Korea exported to Benin were Refined Petroleum ($15.7M), Used Clothing ($8.22M), and Non-fillet Frozen Fish ($2.6M). Over the past 5 years the exports of South Korea to Benin have decreased at an annualized rate of 1.55%, from $42.6M in 2017 to $35.8M in 2022.

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

Comparison: In 2022, Benin ranked 86 in the Economic Complexity Index (ECI -0.5), and 149 in total exports ($1.67B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Benin exported $27.7k to South Korea. The main products exported from Benin to South Korea were Raw Sugar ($12.3k), Refined Petroleum ($8.24k), and Engine Parts ($6.47k). During the last 5 years the exports of Benin to South Korea have decreased at an annualized rate of 73.3%, from $20.3M in 2017 to $27.7k in 2022.

In 2017, South Korea exported $35.8M to Benin. The main products exported from South Korea to Benin were Refined Petroleum ($15.7M), Used Clothing ($8.22M), and Non-fillet Frozen Fish ($2.6M). During the last 5 years the exports of South Korea to Benin have decreased at an annualized rate of 1.55%, from $42.6M in 2022 to $35.8M in 2017.

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

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

Latest Data

Trade between Benin () and South Korea ()

Benin Exports

Date

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Benin
Top DestinationIndia$448M

South Korea
Top DestinationChina$150B

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

In 2022, countries that imported more from Benin than South Korea included Chad ($28M) and Norfolk Island ($40.1k).

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

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

Comparative Advantage Benin - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Benin had a large net trade with South Korea in the exports of Foodstuffs ($12.3k), Mineral Products ($8.24k), and Machines ($6.47k).

During 2017, South Korea had a large net trade with Benin in the exports of Mineral Products ($15.7M), Textiles ($8.26M), and Plastics and Rubbers ($4.74M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Benin South Korea+$103kRefined Petroleum

Top Product Potential South Korea Benin+$12.1MRefined Petroleum

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

Year

This visualization shows the product space at the HS4 level with the flags of Benin and South Korea. This means that a dot/product with the flag of Benin 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 Benin.

About

Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Benin () and South Korea ()

Benin Exports

South Korea Exports

Market Competitiveness

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

Comparative Advantage Benin - South Korea

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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