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2022
Flag → Flag
Exports $169MRnk 98 / 220
2022
Flag → Flag
Top Product $68.4MCars
2022
Flag → Flag
Exports $95.6MRnk 14 / 158
2022
Flag → Flag
Top Product $83.9MCorn
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI -0.34Rnk 81 / 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$41.7BCURRENT US$
Rnk 96 / 186
2012-2022
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GDP GROWTH25.3%CURRENT US$
Rnk 110 / 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$6,153CURRENT US$
Rnk 102 / 186
2012-2022
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GDP PC GROWTH9.46%CURRENT US$
Rnk 120 / 186

About

South Korea-Paraguay Trade: In 2022, South Korea exported $169M to Paraguay. The main products that South Korea exported to Paraguay were Cars ($68.4M), Motor vehicles; parts and accessories (8701 to 8705) ($12.9M), and Aluminium Plating ($8.73M). Over the past 5 years the exports of South Korea to Paraguay have decreased at an annualized rate of 1.91%, from $187M in 2017 to $169M in 2022.

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

Paraguay-South Korea Trade: In 2022, Paraguay exported $95.6M to South Korea. The main products that Paraguay exported to South Korea were Corn ($83.9M), Scrap Copper ($4.52M), and Preserved Meat ($2.09M). Over the past 5 years the exports of Paraguay to South Korea have decreased at an annualized rate of 1.02%,  from $101M in 2017 to $95.6M in 2022.

In 2022, Paraguay 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, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.34), and 103 in total exports ($10.1B).

Latest Trends

July, 2024

About

Overview In July 2024, South Korea exported $13.1M and imported $284k from Paraguay, resulting in a positive trade balance of $12.8M. Between July 2023 and July 2024 the exports of South Korea have increased by $4.45M (51.3%) from $8.67M to $13.1M, while imports decreased by $-1.79M (-86.3%) from $2.07M to $284k.

Trade In July 2024, the top exports of South Korea to Paraguay were Cars, tractors, trucks & parts thereof. ($2.64M), Electrical machinery and electronics ($1.25M), Pharmaceutical products ($390k), Plastics & articles thereof ($317k), and Aluminum articles ($306k). In July 2024 the top imports of South Korea from Paraguay were Cereals ($24M), Copper articles ($320k), Miscellaneous edible preparations ($142k), Perfumery & cosmetics ($35k), and Non-knitted clothing accesories ($17k).

Growth In July 2024, the increase in South Korea's year-by-year exports to Paraguay was explained primarily by an increase in product exports in Electrical machinery and electronics ($950k or 314%), Pharmaceutical products ($242k or 164%), and Optical, photo, & film equipment; medical... ($205k or 236%). In July 2024, the decrease in South Korea's year-by-year imports  from Paraguay was explained primarily by an decrease in product imports  in Copper articles ($-1.2M or -78.9%), Oils seeds, oleaginous fruits, grains, straw... ($-116k or -100%), and Aluminum articles ($-113k or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$4.45M(51.3%)
IMPORT GROWTH (July 2023 - July 2024)$-1.79M(-86.3%)

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

For full datasets download visit Bulk Download page.

Explore Paraguay and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $169M to Paraguay. The main products exported from South Korea to Paraguay were Cars ($68.4M), Motor vehicles; parts and accessories (8701 to 8705) ($12.9M), and Aluminium Plating ($8.73M). During the last 5 years the exports of South Korea to Paraguay have decreased at an annualized rate of 1.91%, from $187M in 2017 to $169M in 2022.

In 2017, Paraguay exported $95.6M to South Korea. The main products exported from Paraguay to South Korea were Corn ($83.9M), Scrap Copper ($4.52M), and Preserved Meat ($2.09M). During the last 5 years the exports of Paraguay to South Korea have decreased at an annualized rate of 1.02%, from $101M in 2022 to $95.6M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Paraguay
Top DestinationBrazil$3.67B

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

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

In 2022, countries that imported more from Paraguay than South Korea included Argentina ($1.91B), Uruguay ($203M), and Bolivia ($97M).

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

Comparative Advantage South Korea - Paraguay

Flow
Scale

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

During 2022, South Korea had a large net trade with Paraguay in the exports of Transportation ($89.3M), Machines ($33.8M), and Plastics and Rubbers ($14.2M).

During 2017, Paraguay had a large net trade with South Korea in the exports of Vegetable Products ($84.5M), Metals ($5.24M), and Foodstuffs ($2.29M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Paraguay+$16.4MCars
Top Product Potential Paraguay South Korea+$1.9MScrap Copper

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

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

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