Kuwait / South Korea

Kuwait-South Korea Trade: In 2022, Kuwait exported $10.8B to South Korea. The main products that Kuwait exported to South Korea were Crude Petroleum ($9.26B), Refined Petroleum ($1.4B), and Passenger and Cargo Ships ($43.7M). Over the past 5 years the exports of Kuwait to South Korea have increased at an annualized rate of 4.68%, from $8.56B in 2017 to $10.8B in 2022.

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

South Korea-Kuwait Trade: In 2022, South Korea exported $554M to Kuwait. The main products that South Korea exported to Kuwait were Cars ($127M), High-voltage Protection Equipment ($29.7M), and Electrical Transformers ($29.3M). Over the past 5 years the exports of South Korea to Kuwait have decreased at an annualized rate of 14.4%,  from $1.21B in 2017 to $554M in 2022.

In 2005, South Korea exported services to Kuwait worth $1.03B, with Services not allocated ($995M), Transportation ($29.8M), and Other business services ($6.7M) being the largest in terms of value.

Comparison: In 2022,  Kuwait ranked 46 in the Economic Complexity Index (ECI 0.44), and 42 in total exports ($101B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).