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2022
Flag → Flag
Exports $2.42BRnk 36 / 220
2022
Flag → Flag
Top Product $1.21BCars
2022
Flag → Flag
Exports $1.56BRnk 14 / 187
2022
Flag → Flag
Top Product $406MOther Measuring Instruments
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 1.23Rnk 20 / 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$522BCURRENT US$
Rnk 27 / 186
2012-2022
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GDP GROWTH99%CURRENT US$
Rnk 14 / 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$54,660CURRENT US$
Rnk 15 / 186
2012-2022
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GDP PC GROWTH64.9%CURRENT US$
Rnk 21 / 186

About

South Korea-Israel Trade: In 2022, South Korea exported $2.42B to Israel. The main products that South Korea exported to Israel were Cars ($1.21B), Broadcasting Equipment ($184M), and Integrated Circuits ($76.4M). Over the past 5 years the exports of South Korea to Israel have increased at an annualized rate of 13.9%, from $1.26B in 2017 to $2.42B in 2022.

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

Israel-South Korea Trade: In 2022, Israel exported $1.56B to South Korea. The main products that Israel exported to South Korea were Other Measuring Instruments ($406M), Non-optical Microscopes ($115M), and Chemical Analysis Instruments ($108M). Over the past 5 years the exports of Israel to South Korea have increased at an annualized rate of 6.87%,  from $1.12B in 2017 to $1.56B in 2022.

In 2012, Israel exported services to South Korea worth $6.9M, with Computer and information services ($6.9M) 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, Israel ranked 20 in the Economic Complexity Index (ECI 1.23), and 49 in total exports ($76.9B).

Latest Trends

July, 2024

About

Overview In July 2024, South Korea exported $139M and imported $89.2M from Israel, resulting in a positive trade balance of $49.6M. Between July 2023 and July 2024 the exports of South Korea have increased by $16.7M (13.7%) from $122M to $139M, while imports decreased by $-11.3M (-11.3%) from $101M to $89.2M.

Trade In July 2024, the top exports of South Korea to Israel were Cars, tractors, trucks & parts thereof. ($176M), Machinery, mechanical appliances, & parts ($32.9M), Optical, photo, & film equipment; medical... ($13.9M), Electrical machinery and electronics ($11.5M), and Plastics & articles thereof ($7.11M). In July 2024 the top imports of South Korea from Israel were Optical, photo, & film equipment; medical... ($169M), Electrical machinery and electronics ($29.5M), Copper articles ($6.61M), Machinery, mechanical appliances, & parts ($5.74M), and Organic chemicals ($3.97M).

Growth In July 2024, the increase in South Korea's year-by-year exports to Israel was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($85M or 93.5%), Machinery, mechanical appliances, & parts ($11.4M or 52.6%), and Optical, photo, & film equipment; medical... ($10M or 258%). In July 2024, the decrease in South Korea's year-by-year imports  from Israel was explained primarily by an decrease in product imports  in Organic chemicals ($-2.01M or -33.6%), Machinery, mechanical appliances, & parts ($-1.43M or -19.9%), and Aircraft and spacecraft ($-1.08M or -27.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$16.7M(13.7%)
IMPORT GROWTH (July 2023 - July 2024)$-11.3M(-11.3%)

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

For full datasets download visit Bulk Download page.

Explore Israel and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $2.42B to Israel. The main products exported from South Korea to Israel were Cars ($1.21B), Broadcasting Equipment ($184M), and Integrated Circuits ($76.4M). During the last 5 years the exports of South Korea to Israel have increased at an annualized rate of 13.9%, from $1.26B in 2017 to $2.42B in 2022.

In 2017, Israel exported $1.56B to South Korea. The main products exported from Israel to South Korea were Other Measuring Instruments ($406M), Non-optical Microscopes ($115M), and Chemical Analysis Instruments ($108M). During the last 5 years the exports of Israel to South Korea have increased at an annualized rate of 6.87%, from $1.12B in 2022 to $1.56B in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Israel
Top DestinationUnited States$20.3B

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

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

In 2022, countries that imported more from Israel than South Korea included Palestine ($4.6B), Ireland ($3.86B), and Cyprus ($827M).

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

Comparative Advantage South Korea - Israel

Flow
Scale

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

During 2022, South Korea had a large net trade with Israel in the exports of Transportation ($1.3B), Machines ($655M), and Plastics and Rubbers ($195M).

During 2017, Israel had a large net trade with South Korea in the exports of Instruments ($757M), Machines ($314M), and Chemical Products ($233M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Israel+$34.2MIntegrated Circuits
Top Product Potential Israel South Korea+$66.9MIntegrated 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 Israel. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Israel. Similarly, a dot/product with the flag of Israel indicates it has a comparative advantage over South Korea.

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

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