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2022
Flag → Flag
Exports $1BRnk 56 / 220
2022
Flag → Flag
Top Product $125MCars
2022
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Exports $617MRnk 23 / 187
2022
Flag → Flag
Top Product $260MCoal Briquettes
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 0.11Rnk 58 / 133
2022
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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$344BCURRENT US$
Rnk 43 / 186
2012-2022
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GDP GROWTH-7.22%CURRENT US$
Rnk 172 / 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$6,630CURRENT US$
Rnk 98 / 186
2012-2022
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GDP PC GROWTH-18.1%CURRENT US$
Rnk 169 / 186

About

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.

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.

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Colombia ranked 58 in the Economic Complexity Index (ECI 0.11), and 53 in total exports ($60.3B).

Latest Trends

July, 2024

About

Overview In July 2024, South Korea exported $70.6M and imported $208M from Colombia, resulting in a negative trade balance of $137M. Between July 2023 and July 2024 the exports of South Korea have increased by $13.6M (23.8%) from $57M to $70.6M, while imports increased by $111M (116%) from $96.3M to $208M.

Trade In July 2024, the top exports of South Korea to Colombia were Cars, tractors, trucks & parts thereof. ($10.9M), Plastics & articles thereof ($9.45M), Machinery, mechanical appliances, & parts ($8.24M), Iron & steel ($4.83M), and Rubber & articles thereof ($3.34M). In July 2024 the top imports of South Korea from Colombia were Mineral fuels, mineral oils and products... ($23.3M), Coffee, tea, mate & spices ($13.6M), Chemical products n.e.s. ($2.43M), Live trees, plants, bulbs, cut flowers,... ($2.41M), and Miscellaneous edible preparations ($1.91M).

Growth In July 2024, the increase in South Korea's year-by-year exports to Colombia was explained primarily by an increase in product exports in Rubber & articles thereof ($906k or 37.3%), Perfumery & cosmetics ($346k or 237%), and Soap, cleaners, candles, dental, modelling pastes ($247k or 48.9%). In July 2024, the increase in South Korea's year-by-year imports  from Colombia was explained primarily by an increase in product imports  in Coffee, tea, mate & spices ($2.23M or 19.7%), Chemical products n.e.s. ($1.67M or 218%), and Miscellaneous edible preparations ($1.32M or 226%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$13.6M(23.8%)
IMPORT GROWTH (July 2023 - July 2024)$111M(116%)

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 Colombia and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Colombia and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, 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 2017 to $1B in 2022.

In 2017, 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 2022 to $617M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Colombia
Top DestinationUnited States$15.6B

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

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

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

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

Comparative Advantage South Korea - Colombia

Flow
Scale

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

During 2022, South Korea had a large net trade with Colombia in the exports of Plastics and Rubbers ($248M), Machines ($191M), and Transportation ($172M).

During 2017, Colombia had a large net trade with South Korea in the exports of Mineral Products ($260M), Vegetable Products ($198M), and Metals ($127M).

Potential Exports

Potential Exports

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

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 Colombia. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Colombia. Similarly, a dot/product with the flag of Colombia indicates it has a comparative advantage over South Korea.

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

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