Dem. People's Rep. of Korea

Dem. People's Rep. of Korea

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Dem. People's Rep. of Korea-India Bilateral Trade Analysis 2023

Complete trade statistics: $2.95M total volume •Dem. People's Rep. of Korea deficit: $809,096

Dem. People's Rep. of Korea → India

$1.07M

Exports (2023)

India → Dem. People's Rep. of Korea

$1.88M

Imports (2023)

Trade Balance

$809,096

Deficit for Dem. People's Rep. of Korea

Total Trade

$2.95M

Combined Volume

Trade Flow Visualization

Direct trade relationship between Dem. People's Rep. of Korea and India. Green line shows exports from Dem. People's Rep. of Korea, red line shows imports.

Detailed Product Trade Analysis

Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Dem. People's Rep. of Korea-India commercial relationship and competitive positioning in global markets.

Dem. People's Rep. of Korea → India Exports

$1.07M
2023 Total

Export Market Intelligence

Product Diversity:
Specialized Focus
Market Share:
14.2% top product
1Iron or non-alloy steel: wire, n.e.c. in heading no. 7217
$151,821
14.2% of exports
2Oxidation and gum inhibitors, viscosity improvers, anti-corrosive preparations, other prepared additives for mineral oils or liquids used as mineral oils (including gasoline), n.e.c. in heading no. 3811
$139,152
13.0% of exports
3Jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof
$85,250
7.9% of exports
4Steel, stainless: flat-rolled, width 600mm or more, hot-rolled, (not in coils), of a thickness of 4.75mm or more but not exceeding 10mm
$65,563
6.1% of exports
5Vinyl chloride, other halogenated olefin polymers: poly(vinyl chloride), not mixed with any other substances, in primary forms
$57,763
5.4% of exports

🎯 Strategic Export Focus

Dem. People's Rep. of Korea's export portfolio to India demonstrates strategic specialization, with iron or non-alloy steel: wire, n.e.c. in heading no. 7217 representing a key competitive advantage in this bilateral market.

India → Dem. People's Rep. of Korea Imports

$1.88M
2023 Total

Import Dependency Profile

Supply Diversity:
Concentrated
Critical Imports:
87.6% concentration
1Aluminium: unwrought, (not alloyed)
$1.65M
87.6% of imports
2Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
$47,622
2.5% of imports
3Plastics: boxes, cases, crates and similar articles for the conveyance or packing of goods
$43,733
2.3% of imports
4Jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof
$31,831
1.7% of imports
5Mucilages and thickeners: whether or not modified, derived from locust beans, locust bean seeds or guar seeds
$21,130
1.1% of imports

📦 Import Strategy Analysis

Dem. People's Rep. of Korea's import pattern from India reveals strategic sourcingin aluminium: unwrought, (not alloyed), highlighting complementary economic structures and potential supply chain optimization opportunities.

Competitive Trade Position Analysis

🏆

Market Leadership

Dem. People's Rep. of Korea demonstrates competitive strength in exportingiron or non-alloy steel: wire, n.e.c. in heading no. 7217 to India, leveraging comparative advantages.

Export Leader in 5+ Categories
🔄

Trade Complementarity

The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.

Specialized Exchange
📈

Growth Potential

The $2.95M trade volume indicates substantial economic integration with room for expansion in emerging sectors.

Significant Partnership

Executive Summary: Dem. People's Rep. of Korea-India Trade Relationship

Key Trade Highlights 2023

  • Total Trade Volume: $2.95 millionrepresenting a significant bilateral economic relationship
  • Trade Balance: Dem. People's Rep. of Korea maintains a deficit of $809.10 thousand
  • Export Focus: Dem. People's Rep. of Korea's primary exports include iron or non-alloy steel: wire, n.e.c. in heading no. 7217, oxidation and gum inhibitors, viscosity improvers, anti-corrosive preparations, other prepared additives for mineral oils or liquids used as mineral oils (including gasoline), n.e.c. in heading no. 3811, jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof
  • Import Dependencies: Key imports from India include aluminium: unwrought, (not alloyed), medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, plastics: boxes, cases, crates and similar articles for the conveyance or packing of goods

Strategic Trade Indicators

Trade IntensityHigh
Export DiversificationConcentrated
Trade Balance HealthImbalanced

📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.

Historical Trade Analysis & Economic Context

Trade Evolution Timeline

2019-2023: Recent Trends

Current trade volume of $2.95M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.

2015-2019: Growth Period

Sustained expansion in bilateral trade driven by complementary economic structures, with Dem. People's Rep. of Korea leveraging its comparative advantages in iron or non-alloy steel: wire, n.e.c. in heading no. 7217.

2010-2015: Foundation Building

Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.

Pre-2010: Early Development

Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.

Key Economic Drivers

1

Comparative Advantage

Dem. People's Rep. of Korea's specialization in iron or non-alloy steel: wire, n.e.c. in heading no. 7217complements India's demand patterns, creating natural trade synergies.

2

Supply Chain Integration

Deep integration in global value chains has strengthened bilateral linkages, particularly in aluminium: unwrought, (not alloyed).

3

Market Access & Trade Policy

Favorable trade agreements and market access conditions have facilitated the growth of this $2.95M bilateral relationship.

Trade Pattern Insights

Trade ComplementarityAsymmetric
Seasonal VariationsModerate
Product ConcentrationMedium
Market DependencyModerate
🔮

Trade Relationship Outlook

The $2.95M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.

Economic Impact & Strategic Outlook

Economic Impact Assessment

💰

Trade Volume Impact

The $2.95 million bilateral trade volume represents a important trade relationshipfor both economies.

Economic Significance: Moderate
🏭

Industrial Integration

Trade flows in iron or non-alloy steel: wire, n.e.c. in heading no. 7217 and aluminium: unwrought, (not alloyed) demonstrate deep industrial linkages and supply chain integration.

Supply Chain Integration: Specialized
⚖️

Trade Balance Effects

Dem. People's Rep. of Korea's trade deficit of $809.10 thousand impacts its overall economic position in this bilateral relationship.

Balance Impact: Import Dependency

Strategic Future Outlook

🚀Growth Opportunities

Emerging Sectors
Technology transfer and innovation cooperation in oxidation and gum inhibitors, viscosity improvers, anti-corrosive preparations, other prepared additives for mineral oils or liquids used as mineral oils (including gasoline), n.e.c. in heading no. 3811 present expansion opportunities.
Market Diversification
Beyond current focus on aluminium: unwrought, (not alloyed), new product categories offer potential for trade expansion.

⚠️Risk Factors

Supply Chain Vulnerabilities
Moderate concentration in key sectors requires monitoring
Market Competition
Global competition in iron or non-alloy steel: wire, n.e.c. in heading no. 7217 may affect future market positioning.

🎯Strategic Recommendations

  • Strengthen cooperation in high-value sectors beyond current trade patterns
  • Develop alternative supply chains to reduce dependency risks
  • Explore joint ventures in emerging technology sectors
  • Enhance trade facilitation and reduce transaction costs

Market Position & Competitive Summary

The bilateral trade relationship between Dem. People's Rep. of Korea and India represents a total trade volume of $2.95 million in 2023. This partnership demonstrates an unfavorable trade balance for Dem. People's Rep. of Korea, with imports exceeding exportsby $809.10 thousand.

Export Strengths

Dem. People's Rep. of Korea's exports to India total $1.07 million, with competitive advantages in iron or non-alloy steel: wire, n.e.c. in heading no. 7217, representing $151,821 or14.2% of bilateral exports.

Import Dependencies

Imports from India amount to $1.88 million, highlighting economic interdependence in aluminium: unwrought, (not alloyed), with Aluminium: unwrought, (not alloyed) comprising87.6% of total imports.

The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Dem. People's Rep. of Korea's strategic sourcing from India. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.

Download Bilateral Trade Data

Access detailed trade data between Dem. People's Rep. of Korea and India in multiple formats.

Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023