2022
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GDP
$8.13BCURRENT US$
Rnk 148 / 186
2012-2022
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GDP GROWTH
0%CURRENT US$
Rnk 165 / 186
2022
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 GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH
30.3%CURRENT US$
Rnk 100 / 186
2022
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GDP PC 
$462CURRENT US$
Rnk 183 / 186
2012-2022
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GDP PC GROWTH
0%CURRENT US$
Rnk 143 / 186
2022
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GDP PC
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186

About

Somalia-South Korea Trade: In 2022, Somalia exported $1.68M to South Korea. The main products that Somalia exported to South Korea were Molluscs ($1.07M), Fish oil ($511k), and Non-fillet Frozen Fish ($96k). Over the past 5 years the exports of Somalia to South Korea have decreased at an annualized rate of 10.7%, from $2.97M in 2017 to $1.68M in 2022.

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

South Korea-Somalia Trade: In 2022, South Korea exported $13.4M to Somalia. The main products that South Korea exported to Somalia were Electric Batteries ($5.37M), Polyacetals ($3.08M), and Other Nitrogen Compounds ($1.38M). Over the past 5 years the exports of South Korea to Somalia have decreased at an annualized rate of 3.85%,  from $16.2M in 2017 to $13.4M in 2022.

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

Comparison In 2022,  Somalia ranked 167 in total exports ($569M), and does not have data regarding Economic Complexity Index. That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Somalia exported $1.68M to South Korea. The main products exported from Somalia to South Korea were Molluscs ($1.07M), Fish oil ($511k), and Non-fillet Frozen Fish ($96k). During the last 5 years the exports of Somalia to South Korea have decreased at an annualized rate of 10.7%, from $2.97M in 2017 to $1.68M in 2022.

In 2017, South Korea exported $13.4M to Somalia. The main products exported from South Korea to Somalia were Electric Batteries ($5.37M), Polyacetals ($3.08M), and Other Nitrogen Compounds ($1.38M). During the last 5 years the exports of South Korea to Somalia have decreased at an annualized rate of 3.85%, from $16.2M in 2022 to $13.4M in 2017.

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

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

Latest Data

Trade between Somalia (Flag) and South Korea (Flag)

South Korea Exports

Market Competitiveness

Color
Somalia
Top Destination
United Arab Emirates$283M
South Korea
Top Destination
China$150B

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

In 2022, no countries were registered that imported more from Somalia than from South Korea.

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

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

Comparative Advantage Somalia - South Korea

Flow
Scale

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

During 2022, Somalia had a large net trade with South Korea in the exports of Animal Products ($1.16M), Animal and Vegetable Bi-Products ($511k), and Chemical Products ($6.73k).

During 2017, South Korea had a large net trade with Somalia in the exports of Machines ($6.08M), Plastics and Rubbers ($4.48M), and Chemical Products ($1.97M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Somalia South Korea+$887kMolluscs
Top Product Potential South Korea Somalia+$1.44MCars

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

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

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