2022
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GDP
$185BCURRENT US$
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2012-2022
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GDP GROWTH
6.04%CURRENT US$
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2022
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 GDP
$1.67TCURRENT US$
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2012-2022
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GDP GROWTH
30.3%CURRENT US$
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2022
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GDP PC 
$43,233CURRENT US$
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2012-2022
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GDP PC GROWTH
-15.7%CURRENT US$
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2022
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GDP PC
$32,255CURRENT US$
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2012-2022
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GDP PC GROWTH
26.7%CURRENT US$
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About

Kuwait-South Korea In 2022, Kuwait exported $10.8B to South Korea. The main products that Kuwait exported to South Korea are Crude Petroleum ($9.26B), Refined Petroleum ($1.4B), and Passenger and Cargo Ships ($43.7M). During the last 27 years the exports of Kuwait to South Korea have increased at an annualized rate of 9.46%, from $938M in 1995 to $10.8B in 2022.

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

South Korea-Kuwait 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). During the last 27 years the exports of South Korea to Kuwait have increased at an annualized rate of 5.16%, from $143M in 1995 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 53 in the Economic Complexity Index (ECI 0.16), and 42 in total exports ($101B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Kuwait exported $10.8B to South Korea. The main products exported from Kuwait to South Korea were Crude Petroleum ($9.26B), Refined Petroleum ($1.4B), and Passenger and Cargo Ships ($43.7M). During the last 27 years the exports of Kuwait to South Korea have increased at an annualized rate of 9.46%, from $938M in 1995 to $10.8B in 2022.

In 2022, South Korea exported $554M to Kuwait. The main products exported from South Korea to Kuwait were Cars ($127M), High-voltage Protection Equipment ($29.7M), and Electrical Transformers ($29.3M). During the last 27 years the exports of South Korea to Kuwait have increased at an annualized rate of 5.16%, from $143M in 1995 to $554M in 2022.

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

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

Latest Data

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

Kuwait Exports

South Korea Exports

Market Competitiveness

Color
Kuwait
Top Destination
China$24.3B
South Korea
Top Destination
China$150B

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

In 2021, countries that imported more from Kuwait than South Korea were Pakistan ($3.97B), Egypt ($2.84B), and Ethiopia ($316M).

In 2021, countries that imported more from South Korea than Kuwait were China ($150B), United States ($112B), and Vietnam ($60.7B).

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

Comparative Advantage Kuwait - South Korea

Flow
Scale

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

During 2022, Kuwait had a large net trade with South Korea in the exports of Mineral Products ($10.7B), Transportation ($44M), and Metals ($10.1M).

During 2022, South Korea had a large net trade with Kuwait in the exports of Transportation ($159M), Machines ($156M), and Plastics and Rubbers ($62.4M).

Service Trade

Bilateral Service Trade

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.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Kuwait (Flag) (2005)

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Kuwait has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Kuwait.

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

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