Madagascar-Rep. of Korea Bilateral Trade Analysis 2023
Complete trade statistics: $314.94M total volume •Madagascar surplus: $226.36M
Madagascar → Rep. of Korea
$270.65M
Exports (2023)
Rep. of Korea → Madagascar
$44.29M
Imports (2023)
Trade Balance
$226.36M
Surplus for Madagascar
Total Trade
$314.94M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Madagascar and Rep. of Korea. Green line shows exports from Madagascar, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Madagascar-Rep. of Korea commercial relationship and competitive positioning in global markets.
Madagascar → Rep. of Korea Exports
Export Market Intelligence
🎯 Strategic Export Focus
Madagascar's export portfolio to Rep. of Korea demonstrates strategic specialization, with nickel: unwrought, not alloyed representing a key competitive advantage in this bilateral market.
Rep. of Korea → Madagascar Imports
Import Dependency Profile
📦 Import Strategy Analysis
Madagascar's import pattern from Rep. of Korea reveals significant dependencyin vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Madagascar demonstrates competitive strength in exportingnickel: unwrought, not alloyed to Rep. of Korea, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $314.94M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Madagascar-Rep. of Korea Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $314.94 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Madagascar maintains a surplus of $226.36 million
- Export Focus: Madagascar's primary exports include nickel: unwrought, not alloyed, cobalt: mattes and other intermediate products of cobalt metallurgy, unwrought cobalt, powders, spices: vanilla, neither crushed nor ground
- Import Dependencies: Key imports from Rep. of Korea include vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc, vehicles: public transport type (carries 10 or more persons, including driver), with only compression-ignition internal combustion piston engine (diesel or semi-diesel), new or used, vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 2500cc
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 $314.94M 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 Madagascar leveraging its comparative advantages in nickel: 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
Madagascar's specialization in nickel: unwrought, not alloyedcomplements 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 vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $314.94M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $314.94M 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 $314.94 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in nickel: unwrought, not alloyed and vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Madagascar's trade surplus of $226.36 million 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 Madagascar and Rep. of Korea represents a total trade volume of $314.94 million in 2023. This partnership demonstrates a favorable trade balance for Madagascar, with exports exceeding importsby $226.36 million.
Export Strengths
Madagascar's exports to Rep. of Korea total $270.65 million, with competitive advantages in nickel: unwrought, not alloyed, representing $253.22M or93.6% of bilateral exports.
Import Dependencies
Imports from Rep. of Korea amount to $44.29 million, highlighting economic interdependence in vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc, with Vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc comprising30.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Madagascar'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 Madagascar and Rep. of Korea in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023