Rep. of Korea

Rep. of Korea

View Profile →
↔
Italy

Rep. of Korea-Italy Bilateral Trade Analysis 2023

Complete trade statistics: $13.38B total volume •Rep. of Korea deficit: $920.33M

Rep. of Korea → Italy

$6.23B

Exports (2023)

Italy → Rep. of Korea

$7.15B

Imports (2023)

Trade Balance

$920.33M

Deficit for Rep. of Korea

Total Trade

$13.38B

Combined Volume

Trade Flow Visualization

Direct trade relationship between Rep. of Korea and Italy. 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-Italy commercial relationship and competitive positioning in global markets.

Rep. of Korea → Italy Exports

$6.23B
2023 Total

Export Market Intelligence

Product Diversity:
Highly Diversified
Market Share:
8.3% top product
1Blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale
$517.87M
8.3% of exports
2Vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power
$302.31M
4.9% of exports
3Blood, human or animal, antisera, other blood fractions and immunological products: immunological products, mixed, put up in measured doses or in forms or packings for retail sale
$267.85M
4.3% of exports
4Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils
$255.70M
4.1% of exports
5Vessels: n.e.c. in heading no. 8901, for the transport of goods and other vessels for the transport of both persons and goods
$208.08M
3.3% of exports
6Vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc
$141.69M
2.3% of exports
7Iron or non-alloy steel: in coils, without patterns in relief, flat-rolled, of a width 600mm or more, hot-rolled, of a thickness of less than 3mm
$128.92M
2.1% of exports
8Rubber: new pneumatic tyres, of a kind used on motor cars (including station wagons and racing cars)
$115.42M
1.9% of exports
9Lathes: for removing metal, horizontal, numerically controlled
$105.13M
1.7% of exports
10Electric accumulators: lithium-ion, including separators, whether or not rectangular (including square)
$104.27M
1.7% of exports

🎯 Strategic Export Focus

Rep. of Korea's export portfolio to Italy demonstrates strong diversification across multiple sectors, with blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale representing a key competitive advantage in this bilateral market.

Italy → Rep. of Korea Imports

$7.15B
2023 Total

Import Dependency Profile

Supply Diversity:
Well Diversified
Critical Imports:
6.4% concentration
1Cases and containers: handbags (whether or not with shoulder strap and including those without handle), with outer surface of leather or of composition leather
$458.67M
6.4% 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
$362.26M
5.1% of imports
3Vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 3000cc
$187.65M
2.6% of imports
4Cases and containers: handbags (whether or not with shoulder strap and including those without handle), with outer surface of sheeting of plastics or of textile materials
$177.75M
2.5% of imports
5Footwear: n.e.c. in heading no. 6403, (not covering the ankle), outer soles of rubber, plastics or composition leather, uppers of leather
$155.88M
2.2% of imports
6Cases and containers: of a kind normally carried in the pocket or in the handbag, with outer surface of leather or of composition leather
$150.46M
2.1% of imports
7Aircraft and spacecraft: parts thereof n.e.c. in chapter 88
$136.01M
1.9% of imports
8Ceramic tiles: flags and paving, hearth or wall tiles other than those of subheadings 6907.30 and 6907.40, of a water absorption coefficient by weight not over 0.5%
$117.08M
1.6% of imports
9Anoraks (including ski-jackets), wind-cheaters, wind-jackets and similar articles: women's or girls', of man-made fibres, other than those of heading no. 6204 (not knitted or crocheted)
$103.70M
1.5% of imports
10T-shirts, singlets and other vests: of cotton, knitted or crocheted
$101.59M
1.4% of imports

📦 Import Strategy Analysis

Rep. of Korea's import pattern from Italy reveals strategic sourcingin cases and containers: handbags (whether or not with shoulder strap and including those without handle), with outer surface of leather or of composition leather, highlighting complementary economic structures and potential supply chain optimization opportunities.

Competitive Trade Position Analysis

🏆

Market Leadership

Rep. of Korea demonstrates competitive strength in exportingblood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale to Italy, leveraging comparative advantages.

Export Leader in 20+ Categories
🔄

Trade Complementarity

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

Highly Balanced
📈

Growth Potential

The $13.38B trade volume indicates substantial economic integration with room for expansion in emerging sectors.

Major Partnership

Executive Summary: Rep. of Korea-Italy Trade Relationship

Key Trade Highlights 2023

  • Total Trade Volume: $13.38 billionrepresenting a significant bilateral economic relationship
  • Trade Balance: Rep. of Korea maintains a deficit of $920.33 million
  • Export Focus: Rep. of Korea's primary exports include blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale, vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power, blood, human or animal, antisera, other blood fractions and immunological products: immunological products, mixed, put up in measured doses or in forms or packings for retail sale
  • Import Dependencies: Key imports from Italy include cases and containers: handbags (whether or not with shoulder strap and including those without handle), with outer surface of leather or of composition leather, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 3000cc

Strategic Trade Indicators

Trade IntensityHigh
Export DiversificationDiversified
Trade Balance HealthBalanced

📈 Market Position: This bilateral trade relationship represents a significant global 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 $13.38B 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 blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale.

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

Rep. of Korea's specialization in blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail salecomplements Italy's demand patterns, creating natural trade synergies.

2

Supply Chain Integration

Deep integration in global value chains has strengthened bilateral linkages, particularly in cases and containers: handbags (whether or not with shoulder strap and including those without handle), with outer surface of leather or of composition leather.

3

Market Access & Trade Policy

Favorable trade agreements and market access conditions have facilitated the growth of this $13.38B bilateral relationship.

Trade Pattern Insights

Trade ComplementarityAsymmetric
Seasonal VariationsModerate
Product ConcentrationLow
Market DependencyModerate
🔮

Trade Relationship Outlook

The $13.38B 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 $13.38 billion bilateral trade volume represents a significant economic factorfor both economies.

Economic Significance: High
🏭

Industrial Integration

Trade flows in blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale and cases and containers: handbags (whether or not with shoulder strap and including those without handle), with outer surface of leather or of composition leather demonstrate deep industrial linkages and supply chain integration.

Supply Chain Integration: Diversified
⚖️

Trade Balance Effects

Rep. of Korea's trade deficit of $920.33 million impacts its overall economic position in this bilateral relationship.

Balance Impact: Well Balanced

Strategic Future Outlook

🚀Growth Opportunities

Emerging Sectors
Technology transfer and innovation cooperation in vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power present expansion opportunities.
Market Diversification
Beyond current focus on cases and containers: handbags (whether or not with shoulder strap and including those without handle), with outer surface of leather or of composition leather, 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 blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale 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 Rep. of Korea and Italy represents a total trade volume of $13.38 billion in 2023. This partnership demonstrates an unfavorable trade balance for Rep. of Korea, with imports exceeding exportsby $920.33 million.

Export Strengths

Rep. of Korea's exports to Italy total $6.23 billion, with competitive advantages in blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale, representing $517.87M or8.3% of bilateral exports.

Import Dependencies

Imports from Italy amount to $7.15 billion, highlighting economic interdependence in cases and containers: handbags (whether or not with shoulder strap and including those without handle), with outer surface of leather or of composition leather, with Cases and containers: handbags (whether or not with shoulder strap and including those without handle), with outer surface of leather or of composition leather comprising6.4% of total imports.

The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Rep. of Korea's strategic sourcing from Italy. 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 Italy in multiple formats.

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