2022
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GDP
$1.4TCURRENT US$
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2012-2022
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GDP GROWTH
5.49%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 
$29,350CURRENT US$
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2012-2022
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GDP PC GROWTH
3.63%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

Spain-South Korea In 2022, Spain exported $2.37B to South Korea. The main products that Spain exported to South Korea are Pig Meat ($455M), Non-Iron and Steel Slag, Ash and Residues ($109M), and Packaged Medicaments ($101M). During the last 27 years the exports of Spain to South Korea have increased at an annualized rate of 5.66%, from $535M in 1995 to $2.37B in 2022.

In 2009, Spain exported services to South Korea worth $108M, with Services not allocated ($108M) being the largest in terms of value.

South Korea-Spain In 2022, South Korea exported $3.63B to Spain. The main products that South Korea exported to Spain were Cars ($1.06B), Polycarboxylic Acids ($167M), and Industrial Fatty Acids, Oils and Alcohols ($140M). During the last 27 years the exports of South Korea to Spain have increased at an annualized rate of 4.98%, from $977M in 1995 to $3.63B in 2022.

In 2005, South Korea exported services to Spain worth $216M, with Transportation ($174M), Other business services ($24.3M), and Travel ($14.6M) being the largest in terms of value.

Comparison In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.8), and 20 in total exports ($394B). 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, Spain exported $2.37B to South Korea. The main products exported from Spain to South Korea were Pig Meat ($455M), Non-Iron and Steel Slag, Ash and Residues ($109M), and Packaged Medicaments ($101M). During the last 26 years the exports of Spain to South Korea have increased at an annualized rate of 1.26%, from $7.85k in 1996 to $2.37B in 2022.

In 2022, South Korea exported $3.63B to Spain. The main products exported from South Korea to Spain were Cars ($1.06B), Polycarboxylic Acids ($167M), and Industrial Fatty Acids, Oils and Alcohols ($140M). During the last 26 years the exports of South Korea to Spain have increased at an annualized rate of 23.4%, from $1.75k in 1996 to $3.63B in 2022.

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

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

Market Competitiveness

Color
Spain
Top Destination
France$65.2B
South Korea
Top Destination
China$150B

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

In 2021, countries that imported more from Spain than South Korea were France ($65.2B), Portugal ($34.9B), and Germany ($39.2B).

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

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

Comparative Advantage Spain - South Korea

Flow
Scale

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

During 2022, Spain had a large net trade with South Korea in the exports of Animal Products ($598M), Machines ($341M), and Chemical Products ($318M).

During 2022, South Korea had a large net trade with Spain in the exports of Transportation ($1.2B), Metals ($566M), and Machines ($523M).

Service Trade

Bilateral Service Trade

In 2009, Spain exported services to South Korea worth $108M, with Services not allocated ($108M) being the largest in terms of value.

In 2005, South Korea exported services to Spain worth $216M, with Transportation ($174M), Other business services ($24.3M), and Travel ($14.6M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Spain (Flag) to South Korea (Flag) (2009)

Services Exports from South Korea (Flag) to Spain (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 Spain has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Spain.

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

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