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Pricing

2022
Flag → Flag
Exports $158MRnk 100 / 220
2022
Flag → Flag
Top Product $31.8MMotor vehicles; parts and accessories (8701 to 8705)
2022
Flag → Flag
Exports $267MRnk 8 / 168
2022
Flag → Flag
Top Product $123MSulfate Chemical Woodpulp
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 0.15Rnk 57 / 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$71.2BCURRENT US$
Rnk 79 / 186
2012-2022
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GDP GROWTH31.2%CURRENT US$
Rnk 96 / 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$20,795CURRENT US$
Rnk 49 / 186
2012-2022
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GDP PC GROWTH29.3%CURRENT US$
Rnk 65 / 186

About

South Korea-Uruguay Trade: In 2022, South Korea exported $158M to Uruguay. The main products that South Korea exported to Uruguay were Motor vehicles; parts and accessories (8701 to 8705) ($31.8M), Insulated Wire ($29.7M), and Cars ($13.9M). Over the past 5 years the exports of South Korea to Uruguay have increased at an annualized rate of 3.73%, from $132M in 2017 to $158M in 2022.

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

Uruguay-South Korea Trade: In 2022, Uruguay exported $267M to South Korea. The main products that Uruguay exported to South Korea were Sulfate Chemical Woodpulp ($123M), Precious Metal Ore ($91.7M), and Crude Petroleum ($39.6M). Over the past 5 years the exports of Uruguay to South Korea have increased at an annualized rate of 22.1%,  from $98.4M in 2017 to $267M in 2022.

In 2022, Uruguay 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, Uruguay ranked 57 in the Economic Complexity Index (ECI 0.15), and 98 in total exports ($12B).

Latest Trends

September, 2024

About

Overview In September 2024, South Korea exported $17.1M and imported $16.5M from Uruguay, resulting in a positive trade balance of $674k. Between September 2023 and September 2024 the exports of South Korea have increased by $3.39M (24.7%) from $13.7M to $17.1M, while imports increased by $5.05M (44.2%) from $11.4M to $16.5M.

Trade In September 2024, the top exports of South Korea to Uruguay were Electrical machinery and electronics ($2.13M), Cars, tractors, trucks & parts thereof. ($2M), Machinery, mechanical appliances, & parts ($1.58M), Plastics & articles thereof ($358k), and Organic chemicals ($201k). In September 2024 the top imports of South Korea from Uruguay were Ores, slag and ash ($9.65M), Wood pulp & paper scrap ($6.26M), Wood, wood articles, & charcoal ($311k), Preparations of fish, crustacenas, & molluscs ($273k), and Fish, crustaceans, & molluscs ($139k).

Growth In September 2024, the increase in South Korea's year-by-year exports to Uruguay was explained primarily by an increase in product exports in Machinery, mechanical appliances, & parts ($483k or 44%), Rubber & articles thereof ($162k or 1.01k%), and Organic chemicals ($145k or 259%). In September 2024, the increase in South Korea's year-by-year imports  from Uruguay was explained primarily by an increase in product imports  in Ores, slag and ash ($3.23M or 50.4%), Preparations of fish, crustacenas, & molluscs ($121k or 79.6%), and Fish, crustaceans, & molluscs ($2k or 1.46%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (September 2023 - September 2024)$3.39M(24.7%)
IMPORT GROWTH (September 2023 - September 2024)$5.05M(44.2%)

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

For full datasets download visit Bulk Download page.

Explore Uruguay and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $158M to Uruguay. The main products exported from South Korea to Uruguay were Motor vehicles; parts and accessories (8701 to 8705) ($31.8M), Insulated Wire ($29.7M), and Cars ($13.9M). During the last 5 years the exports of South Korea to Uruguay have increased at an annualized rate of 3.73%, from $132M in 2017 to $158M in 2022.

In 2017, Uruguay exported $267M to South Korea. The main products exported from Uruguay to South Korea were Sulfate Chemical Woodpulp ($123M), Precious Metal Ore ($91.7M), and Crude Petroleum ($39.6M). During the last 5 years the exports of Uruguay to South Korea have increased at an annualized rate of 22.1%, from $98.4M in 2022 to $267M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Uruguay
Top DestinationChina$2.89B

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

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

In 2022, countries that imported more from Uruguay than South Korea included Argentina ($999M), Cuba ($56.8M), and Venezuela ($65.2M).

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

Comparative Advantage South Korea - Uruguay

Flow
Scale

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

During 2022, South Korea had a large net trade with Uruguay in the exports of Transportation ($53.9M), Machines ($48.9M), and Chemical Products ($19.6M).

During 2017, Uruguay had a large net trade with South Korea in the exports of Mineral Products ($131M), Paper Goods ($123M), and Animal Products ($4.6M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Uruguay+$12.4MCars
Top Product Potential Uruguay South Korea+$14.2MCrude 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 Uruguay. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Uruguay. Similarly, a dot/product with the flag of Uruguay indicates it has a comparative advantage over South Korea.

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

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