Rep. of Korea-Netherlands Bilateral Trade Analysis 2023
Complete trade statistics: $15.48B total volume •Rep. of Korea deficit: $4.97B
Rep. of Korea → Netherlands
$5.26B
Exports (2023)
Netherlands → Rep. of Korea
$10.22B
Imports (2023)
Trade Balance
$4.97B
Deficit for Rep. of Korea
Total Trade
$15.48B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Rep. of Korea and Netherlands. 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-Netherlands commercial relationship and competitive positioning in global markets.
Rep. of Korea → Netherlands Exports
Export Market Intelligence
🎯 Strategic Export Focus
Rep. of Korea's export portfolio to Netherlands demonstrates strong diversification across multiple sectors, with petroleum 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 representing a key competitive advantage in this bilateral market.
Netherlands → Rep. of Korea Imports
Import Dependency Profile
📦 Import Strategy Analysis
Rep. of Korea's import pattern from Netherlands reveals strategic sourcingin machines and apparatus of a kind used solely or principally for the manufacture of semiconductor devices or of electronic integrated circuits, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Rep. of Korea demonstrates competitive strength in exportingpetroleum 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 to Netherlands, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $15.48B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Rep. of Korea-Netherlands Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $15.48 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Rep. of Korea maintains a deficit of $4.97 billion
- Export Focus: Rep. of Korea's primary exports include petroleum 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, vehicles: with only electric motor for propulsion, electronic integrated circuits: n.e.c. in heading no. 8542
- Import Dependencies: Key imports from Netherlands include machines and apparatus of a kind used solely or principally for the manufacture of semiconductor devices or of electronic integrated circuits, machines and apparatus of heading 8486: parts and accessories, 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
Strategic Trade Indicators
📈 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 $15.48B 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 petroleum 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.
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 petroleum 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 oilscomplements Netherlands's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in machines and apparatus of a kind used solely or principally for the manufacture of semiconductor devices or of electronic integrated circuits.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $15.48B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $15.48B 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 $15.48 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in petroleum 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 and machines and apparatus of a kind used solely or principally for the manufacture of semiconductor devices or of electronic integrated circuits demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Rep. of Korea's trade deficit of $4.97 billion impacts 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 Netherlands represents a total trade volume of $15.48 billion in 2023. This partnership demonstrates an unfavorable trade balance for Rep. of Korea, with imports exceeding exportsby $4.97 billion.
Export Strengths
Rep. of Korea's exports to Netherlands total $5.26 billion, with competitive advantages in petroleum 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, representing $481.74M or9.2% of bilateral exports.
Import Dependencies
Imports from Netherlands amount to $10.22 billion, highlighting economic interdependence in machines and apparatus of a kind used solely or principally for the manufacture of semiconductor devices or of electronic integrated circuits, with Machines and apparatus of a kind used solely or principally for the manufacture of semiconductor devices or of electronic integrated circuits comprising47.9% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Rep. of Korea's strategic sourcing from Netherlands. 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 Netherlands in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023