Australia (AUS) and South Korea (KOR) Trade | The Observatory of Economic Complexity

About

Australia-South Korea In 2022, Australia exported $41B to South Korea. The main products that Australia exported to South Korea are Petroleum Gas ($13.3B), Coal Briquettes ($11.5B), and Iron Ore ($5.15B). During the last 27 years the exports of Australia to South Korea have increased at an annualized rate of 7.8%, from $5.39B in 1995 to $41B in 2022.

In 2009, Australia exported services to South Korea worth $1.45B, with Travel ($1.35B), Transportation ($53M), and Other business services ($11.9M) being the largest in terms of value.

South Korea-Australia In 2022, South Korea exported $18.7B to Australia. The main products that South Korea exported to Australia were Refined Petroleum ($10.5B), Cars ($3.15B), and Vaccines, blood, antisera, toxins and cultures ($472M). During the last 27 years the exports of South Korea to Australia have increased at an annualized rate of 9.38%, from $1.66B in 1995 to $18.7B in 2022.

In 2005, South Korea exported services to Australia worth $488M, with Transportation ($252M), Travel ($111M), and Other business services ($79.8M) being the largest in terms of value.

Comparison In 2022, Australia ranked 77 in the Economic Complexity Index (ECI -0.35), and 16 in total exports ($424B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Australia exported $41B to South Korea. The main products exported from Australia to South Korea were Petroleum Gas ($13.3B), Coal Briquettes ($11.5B), and Iron Ore ($5.15B). During the last 27 years the exports of Australia to South Korea have increased at an annualized rate of 7.8%, from $5.39B in 1995 to $41B in 2022.

In 2022, South Korea exported $18.7B to Australia. The main products exported from South Korea to Australia were Refined Petroleum ($10.5B), Cars ($3.15B), and Vaccines, blood, antisera, toxins and cultures ($472M). During the last 27 years the exports of South Korea to Australia have increased at an annualized rate of 9.38%, from $1.66B in 1995 to $18.7B in 2022.

Exports from Australia () to South Korea () (2022)

Exports from South Korea () to Australia () (2022)

Latest Data

Trade between Australia () and South Korea ()

Australia Exports

Date

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Australia
Top DestinationChina$123B

South Korea
Top DestinationChina$150B

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

In 2021, countries that imported more from Australia than South Korea were Japan ($80.1B), India ($31.5B), and New Zealand ($7.3B).

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

Difference in imports from South Korea () and Australia () (2022)

Comparative Advantage Australia - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Australia had a large net trade with South Korea in the exports of Mineral Products ($34.3B), Animal Products ($1.79B), and Metals ($1.7B).

During 2022, South Korea had a large net trade with Australia in the exports of Mineral Products ($10.6B), Transportation ($3.88B), and Machines ($1.11B).

Service Trade

Bilateral Service Trade

Aus Year

In 2009, Australia exported services to South Korea worth $1.45B, with Travel ($1.35B), Transportation ($53M), and Other business services ($11.9M) being the largest in terms of value.

In 2005, South Korea exported services to Australia worth $488M, with Transportation ($252M), Travel ($111M), and Other business services ($79.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Australia () to South Korea () (2009)

Services Exports from South Korea () to Australia () (2005)

Economic Complexity

Competitive Landscape

Year

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 Australia has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Australia.

About

Historical Data

Bilateral Trade by Products

Exports from Australia () to South Korea () (2022)

Exports from South Korea () to Australia () (2022)

Latest Data

Trade between Australia () and South Korea ()

Australia Exports

South Korea Exports

Market Competitiveness

Difference in imports from South Korea () and Australia () (2022)

Comparative Advantage Australia - South Korea

Service Trade

Bilateral Service Trade

Services Exports from Australia () to South Korea () (2009)

Services Exports from South Korea () to Australia () (2005)

Economic Complexity

Competitive Landscape

Product Space of Australia () and South Korea () (2022)

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