Rep. of Korea-Portugal Bilateral Trade Analysis 2023
Complete trade statistics: $939.10M total volume •Rep. of Korea surplus: $939.10M
Rep. of Korea → Portugal
$939.10M
Exports (2023)
Portugal → Rep. of Korea
$0
Imports (2023)
Trade Balance
$939.10M
Surplus for Rep. of Korea
Total Trade
$939.10M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Rep. of Korea and Portugal. 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-Portugal commercial relationship and competitive positioning in global markets.
Rep. of Korea → Portugal Exports
Export Market Intelligence
🎯 Strategic Export Focus
Rep. of Korea's export portfolio to Portugal demonstrates strategic specialization, 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.
Portugal → Rep. of Korea Imports
Import Dependency Profile
📦 Import Strategy Analysis
Rep. of Korea's import pattern from Portugal reveals significant dependencyin rubber: new pneumatic tyres, of a kind used on motor cars (including station wagons and racing cars), 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 Portugal, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $939.10M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Rep. of Korea-Portugal Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $939.10 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Rep. of Korea maintains a surplus of $939.10 million
- 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, iron or non-alloy steel: (not in coils), flat-rolled, of a width 600mm or more, hot-rolled, without patterns in relief, of a thickness exceeding 10mm, 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 Portugal include rubber: new pneumatic tyres, of a kind used on motor cars (including station wagons and racing cars), medicaments: (not containing antibiotics, hormones, alkaloids or their derivatives), for therapeutic or prophylactic uses, (not packaged for retail sale), vegetable fats and oils and their fractions: fixed, n.e.c. in heading no. 1515, whether or not refined, but not chemically modified
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 $939.10M 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 Portugal's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in rubber: new pneumatic tyres, of a kind used on motor cars (including station wagons and racing cars).
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $939.10M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $939.10M 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 $939.10 million bilateral trade volume represents a important trade relationshipfor 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 rubber: new pneumatic tyres, of a kind used on motor cars (including station wagons and racing cars) demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Rep. of Korea's trade surplus of $939.10 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 Portugal represents a total trade volume of $939.10 million in 2023. This partnership demonstrates a favorable trade balance for Rep. of Korea, with exports exceeding importsby $939.10 million.
Export Strengths
Rep. of Korea's exports to Portugal total $939.10 million, 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 $95.68M or10.2% of bilateral exports.
Import Dependencies
Imports from Portugal amount to $0.00, highlighting economic interdependence in rubber: new pneumatic tyres, of a kind used on motor cars (including station wagons and racing cars), with Rubber: new pneumatic tyres, of a kind used on motor cars (including station wagons and racing cars) comprisingInfinity% 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 Portugal in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023