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2022
Flag → Flag
Exports $378MRnk 78 / 220
2022
Flag → Flag
Top Product $80.6MPolycarboxylic Acids
2022
Flag → Flag
Exports $4.64BRnk 3 / 171
2022
Flag → Flag
Top Product $4.05BPetroleum Gas
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.19Rnk 75 / 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
Flag
 GDP$115BCURRENT US$
Rnk 63 / 186
2012-2022
Flag
GDP GROWTH31.2%CURRENT US$
Rnk 97 / 186
2022
Flag
GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC$25,057CURRENT US$
Rnk 43 / 186
2012-2022
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GDP PC GROWTH1.35%CURRENT US$
Rnk 136 / 186

About

South Korea-Oman Trade: In 2022, South Korea exported $378M to Oman. The main products that South Korea exported to Oman were Polycarboxylic Acids ($80.6M), Hot-Rolled Iron ($56.5M), and Cars ($34.3M). Over the past 5 years the exports of South Korea to Oman have decreased at an annualized rate of 11.1%, from $682M in 2017 to $378M in 2022.

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

Oman-South Korea Trade: In 2022, Oman exported $4.64B to South Korea. The main products that Oman exported to South Korea were Petroleum Gas ($4.05B), Crude Petroleum ($357M), and Acyclic Alcohols ($101M). Over the past 5 years the exports of Oman to South Korea have increased at an annualized rate of 17.4%,  from $2.08B in 2017 to $4.64B in 2022.

In 2022, Oman 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, Oman ranked 75 in the Economic Complexity Index (ECI -0.19), and 50 in total exports ($76.4B).

Latest Trends

July, 2024

About

Overview In July 2024, South Korea exported $20.2M and imported $362M from Oman, resulting in a negative trade balance of $342M. Between July 2023 and July 2024 the exports of South Korea have decreased by $-12.2M (-37.6%) from $32.4M to $20.2M, while imports increased by $70.2M (24%) from $292M to $362M.

Trade In July 2024, the top exports of South Korea to Oman were Iron & steel ($8.01M), Organic chemicals ($7.93M), Cars, tractors, trucks & parts thereof. ($5.79M), Iron or steel articles ($5.03M), and Machinery, mechanical appliances, & parts ($3.59M). In July 2024 the top imports of South Korea from Oman were Mineral fuels, mineral oils and products... ($894M), Organic chemicals ($6.57M), Iron & steel ($1.19M), Stone, plaster, cement, asbestos, mica. ($693k), and Fish, crustaceans, & molluscs ($540k).

Growth In July 2024, the decrease in South Korea's year-by-year exports to Oman was explained primarily by an decrease in product exports in Machinery, mechanical appliances, & parts ($-1.72M or -32.4%), Plastics & articles thereof ($-1.12M or -52.8%), and Food residues & wastes; animal fodder ($-284k or -100%). In July 2024, the increase in South Korea's year-by-year imports  from Oman was explained primarily by an increase in product imports  in Mineral fuels, mineral oils and products... ($188M or 26.7%), Fish, crustaceans, & molluscs ($113k or 26.5%), and Stone, plaster, cement, asbestos, mica. ($22k or 3.28%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$-12.2M(-37.6%)
IMPORT GROWTH (July 2023 - July 2024)$70.2M(24%)

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

For full datasets download visit Bulk Download page.

Explore Oman and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $378M to Oman. The main products exported from South Korea to Oman were Polycarboxylic Acids ($80.6M), Hot-Rolled Iron ($56.5M), and Cars ($34.3M). During the last 5 years the exports of South Korea to Oman have decreased at an annualized rate of 11.1%, from $682M in 2017 to $378M in 2022.

In 2017, Oman exported $4.64B to South Korea. The main products exported from Oman to South Korea were Petroleum Gas ($4.05B), Crude Petroleum ($357M), and Acyclic Alcohols ($101M). During the last 5 years the exports of Oman to South Korea have increased at an annualized rate of 17.4%, from $2.08B in 2022 to $4.64B in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Oman
Top DestinationChina$30.4B

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

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

In 2022, countries that imported more from Oman than South Korea included Qatar ($1.09B), Mauritius ($544M), and Iran ($539M).

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

Comparative Advantage South Korea - Oman

Flow
Scale

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

During 2022, South Korea had a large net trade with Oman in the exports of Machines ($94.1M), Chemical Products ($93.7M), and Metals ($75.2M).

During 2017, Oman had a large net trade with South Korea in the exports of Mineral Products ($4.43B), Chemical Products ($126M), and Metals ($36.5M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Oman+$35.5MCars
Top Product Potential Oman South Korea+$511MCrude 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

This visualization shows the product space at the HS4 level with the flags of South Korea and Oman. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Oman. Similarly, a dot/product with the flag of Oman indicates it has a comparative advantage over South Korea.

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

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