India-Dem. People's Rep. of Korea Bilateral Trade Analysis 2023
Complete trade statistics: $2.95M total volume •India surplus: $809,096
India → Dem. People's Rep. of Korea
$1.88M
Exports (2023)
Dem. People's Rep. of Korea → India
$1.07M
Imports (2023)
Trade Balance
$809,096
Surplus for India
Total Trade
$2.95M
Combined Volume
Trade Flow Visualization
Direct trade relationship between India and Dem. People's Rep. of Korea. Green line shows exports from India, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the India-Dem. People's Rep. of Korea commercial relationship and competitive positioning in global markets.
India → Dem. People's Rep. of Korea Exports
Export Market Intelligence
🎯 Strategic Export Focus
India's export portfolio to Dem. People's Rep. of Korea demonstrates strategic specialization, with aluminium: unwrought, (not alloyed) representing a key competitive advantage in this bilateral market.
Dem. People's Rep. of Korea → India Imports
Import Dependency Profile
📦 Import Strategy Analysis
India's import pattern from Dem. People's Rep. of Korea reveals significant dependencyin iron or non-alloy steel: wire, n.e.c. in heading no. 7217, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
India demonstrates competitive strength in exportingaluminium: unwrought, (not alloyed) to Dem. People's Rep. of Korea, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $2.95M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: India-Dem. People's Rep. of Korea Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $2.95 millionrepresenting a significant bilateral economic relationship
- Trade Balance: India maintains a surplus of $809.10 thousand
- Export Focus: India's primary exports 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
- Import Dependencies: Key imports from Dem. People's Rep. of Korea 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
Strategic Trade Indicators
📈 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 India leveraging its comparative advantages in aluminium: unwrought, (not alloyed).
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
Comparative Advantage
India's specialization in aluminium: unwrought, (not alloyed)complements Dem. People's Rep. of Korea's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in iron or non-alloy steel: wire, n.e.c. in heading no. 7217.
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 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.
Industrial Integration
Trade flows in aluminium: unwrought, (not alloyed) and iron or non-alloy steel: wire, n.e.c. in heading no. 7217 demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
India's trade surplus of $809.10 thousand strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯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 India and Dem. People's Rep. of Korea represents a total trade volume of $2.95 million in 2023. This partnership demonstrates a favorable trade balance for India, with exports exceeding importsby $809.10 thousand.
Export Strengths
India's exports to Dem. People's Rep. of Korea total $1.88 million, with competitive advantages in aluminium: unwrought, (not alloyed), representing $1.65M or87.6% of bilateral exports.
Import Dependencies
Imports from Dem. People's Rep. of Korea amount to $1.07 million, highlighting economic interdependence in iron or non-alloy steel: wire, n.e.c. in heading no. 7217, with Iron or non-alloy steel: wire, n.e.c. in heading no. 7217 comprising14.2% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates India's competitive position in this bilateral relationship. 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 India and Dem. People's Rep. of Korea in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023