Rep. of Korea-Dominican Rep. Bilateral Trade Analysis 2023
Complete trade statistics: $574.21M total volume •Rep. of Korea surplus: $101.78M
Rep. of Korea → Dominican Rep.
$338.00M
Exports (2023)
Dominican Rep. → Rep. of Korea
$236.22M
Imports (2023)
Trade Balance
$101.78M
Surplus for Rep. of Korea
Total Trade
$574.21M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Rep. of Korea and Dominican Rep.. Green line shows exports from 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 Rep. of Korea-Dominican Rep. commercial relationship and competitive positioning in global markets.
Rep. of Korea → Dominican Rep. Exports
Export Market Intelligence
🎯 Strategic Export Focus
Rep. of Korea's export portfolio to Dominican Rep. demonstrates strategic specialization, with vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc representing a key competitive advantage in this bilateral market.
Dominican Rep. → Rep. of Korea Imports
Import Dependency Profile
📦 Import Strategy Analysis
Rep. of Korea's import pattern from Dominican Rep. reveals strategic sourcingin ferro-alloys: ferro-nickel, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Rep. of Korea demonstrates competitive strength in exportingvehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc to Dominican Rep., leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $574.21M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Rep. of Korea-Dominican Rep. Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $574.21 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Rep. of Korea maintains a surplus of $101.78 million
- Export Focus: Rep. of Korea's primary exports include vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc, vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a gvw not exceeding 5 tonnes), n.e.c. in item no 8704.1, vehicles: for transport of persons (other than those of heading no. 8702) n.e.c. in heading no. 8703
- Import Dependencies: Key imports from Dominican Rep. include ferro-alloys: ferro-nickel, medical, surgical or dental instruments and appliances: n.e.c. in heading no. 9018, copper: waste and scrap
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 $574.21M 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 Rep. of Korea leveraging its comparative advantages in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc.
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
Rep. of Korea's specialization in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cccomplements Dominican Rep.'s demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in ferro-alloys: ferro-nickel.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $574.21M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $574.21M 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 $574.21 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc and ferro-alloys: ferro-nickel demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Rep. of Korea's trade surplus of $101.78 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 Rep. of Korea and Dominican Rep. represents a total trade volume of $574.21 million in 2023. This partnership demonstrates a favorable trade balance for Rep. of Korea, with exports exceeding importsby $101.78 million.
Export Strengths
Rep. of Korea's exports to Dominican Rep. total $338.00 million, with competitive advantages in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc, representing $86.16M or25.5% of bilateral exports.
Import Dependencies
Imports from Dominican Rep. amount to $236.22 million, highlighting economic interdependence in ferro-alloys: ferro-nickel, with Ferro-alloys: ferro-nickel comprising84.0% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Rep. of Korea'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 Rep. of Korea and Dominican Rep. in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023