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2022
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Exports $344MRnk 81 / 220
2022
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Top Product $113MRefined Petroleum
2022
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Exports $66MRnk 23 / 164
2022
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Top Product $23.2MRaw Tobacco
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI -1.08Rnk 116 / 133
2022
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GDP$1.67TCURRENT US$
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2012-2022
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GDP GROWTH30.3%CURRENT US$
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2022
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 GDP$75.7BCURRENT US$
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2012-2022
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GDP GROWTH90.9%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 GROWTH26.7%CURRENT US$
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2022
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GDP PC$1,192CURRENT US$
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2012-2022
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GDP PC GROWTH39.5%CURRENT US$
Rnk 49 / 186

About

South Korea-Tanzania In 2022, South Korea exported $344M to Tanzania. The main products that South Korea exported to Tanzania are Refined Petroleum ($113M), X-Ray Equipment ($16.1M), and Locomotive Parts ($14.4M). During the last 27 years the exports of South Korea to Tanzania have increased at an annualized rate of 11.7%, from $17.4M in 1995 to $344M in 2022.

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

Tanzania-South Korea In 2022, Tanzania exported $66M to South Korea. The main products that Tanzania exported to South Korea were Raw Tobacco ($23.2M), Copper Ore ($21.6M), and Precipitated Copper ($11.2M). During the last 27 years the exports of Tanzania to South Korea have increased at an annualized rate of 13.9%, from $1.97M in 1995 to $66M in 2022.

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

Comparison In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Tanzania ranked 116 in the Economic Complexity Index (ECI -1.08), and 104 in total exports ($10B).

Latest Trends

March, 2024

About

Overview In March 2024, South Korea exported $16.2M and imported $7.03M from Tanzania, resulting in a positive trade balance of $9.17M. Between March 2023 and March 2024 the exports of South Korea have decreased by $-8.05M (-33.2%) from $24.2M to $16.2M, while imports increased by $5.72M (438%) from $1.31M to $7.03M.

Trade In March 2024, the top exports of South Korea to Tanzania were Mineral fuels, mineral oils and products... ($71.3M), Iron & steel ($1.84M), Plastics & articles thereof ($1.72M), Inorganic chemicals ($1.34M), and Zinc articles ($1.13M). In March 2024 the top imports of South Korea from Tanzania were Ores, slag and ash ($7.91M), Copper articles ($2.86M), Tobacco & substitutes ($1.18M), Coffee, tea, mate & spices ($1.18M), and Oils seeds, oleaginous fruits, grains, straw... ($188k).

Growth In March 2024, the decrease in South Korea's year-by-year exports to Tanzania was explained primarily by an decrease in product exports in Plastics & articles thereof ($-3.34M or -65.9%), Inorganic chemicals ($-1.64M or -55.1%), and Used clothes & textile articles ($-696k or -40.3%). In March 2024, the increase in South Korea's year-by-year imports  from Tanzania was explained primarily by an increase in product imports  in Coffee, tea, mate & spices ($544k or 85.5%) and Used clothes & textile articles ($1k or 100%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (March 2023 - March 2024)$-8.05M(-33.2%)
IMPORT GROWTH (March 2023 - March 2024)$5.72M(438%)

This section shows exports and imports data at subnational level for South Korea. Click any date in the line plot or any product to explore the exports or imports behavior of South Korea over time.

To check Tanzania and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $344M to Tanzania. The main products exported from South Korea to Tanzania were Refined Petroleum ($113M), X-Ray Equipment ($16.1M), and Locomotive Parts ($14.4M). During the last 27 years the exports of South Korea to Tanzania have increased at an annualized rate of 11.7%, from $17.4M in 1995 to $344M in 2022.

In 2022, Tanzania exported $66M to South Korea. The main products exported from Tanzania to South Korea were Raw Tobacco ($23.2M), Copper Ore ($21.6M), and Precipitated Copper ($11.2M). During the last 27 years the exports of Tanzania to South Korea have increased at an annualized rate of 13.9%, from $1.97M in 1995 to $66M in 2022.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Tanzania
Top DestinationIndia$2.73B

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

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

In 2021, countries that imported more from Tanzania than South Korea were Rwanda ($474M), Uganda ($264M), and Democratic Republic of the Congo ($329M).

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

Comparative Advantage South Korea - Tanzania

Flow
Scale

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

During 2022, South Korea had a large net trade with Tanzania in the exports of Mineral Products ($114M), Plastics and Rubbers ($64.2M), and Chemical Products ($41.5M).

During 2022, Tanzania had a large net trade with South Korea in the exports of Foodstuffs ($23.6M), Mineral Products ($21.6M), and Metals ($12M).

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

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

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