South Africa-Rep. of Korea Bilateral Trade Analysis 2023
Complete trade statistics: $2.05B total volume •South Africa surplus: $2.05B
South Africa → Rep. of Korea
$2.05B
Exports (2023)
Rep. of Korea → South Africa
$0
Imports (2023)
Trade Balance
$2.05B
Surplus for South Africa
Total Trade
$2.05B
Combined Volume
Trade Flow Visualization
Direct trade relationship between South Africa and Rep. of Korea. Green line shows exports from South Africa, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the South Africa-Rep. of Korea commercial relationship and competitive positioning in global markets.
South Africa → Rep. of Korea Exports
Export Market Intelligence
🎯 Strategic Export Focus
South Africa's export portfolio to Rep. of Korea demonstrates strategic specialization, with coal: bituminous, whether or not pulverised, but not agglomerated representing a key competitive advantage in this bilateral market.
Rep. of Korea → South Africa Imports
Import Dependency Profile
📦 Import Strategy Analysis
South Africa's import pattern from Rep. of Korea reveals significant dependencyin 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, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
South Africa demonstrates competitive strength in exportingcoal: bituminous, whether or not pulverised, but not agglomerated to Rep. of Korea, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $2.05B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: South Africa-Rep. of Korea Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $2.05 billionrepresenting a significant bilateral economic relationship
- Trade Balance: South Africa maintains a surplus of $2.05 billion
- Export Focus: South Africa's primary exports include coal: bituminous, whether or not pulverised, but not agglomerated, iron ores and concentrates: non-agglomerated, iron ores and concentrates: agglomerated (excluding roasted iron pyrites)
- Import Dependencies: Key imports from Rep. of Korea 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 compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc, mechanical shovels, excavators and shovel loaders: with a 360 degree revolving super structure
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 $2.05B 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 South Africa leveraging its comparative advantages in coal: bituminous, whether or not pulverised, but not agglomerated.
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
South Africa's specialization in coal: bituminous, whether or not pulverised, but not agglomeratedcomplements 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 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.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $2.05B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $2.05B 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 $2.05 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in coal: bituminous, whether or not pulverised, but not agglomerated and 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 demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
South Africa's trade surplus of $2.05 billion 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 South Africa and Rep. of Korea represents a total trade volume of $2.05 billion in 2023. This partnership demonstrates a favorable trade balance for South Africa, with exports exceeding importsby $2.05 billion.
Export Strengths
South Africa's exports to Rep. of Korea total $2.05 billion, with competitive advantages in coal: bituminous, whether or not pulverised, but not agglomerated, representing $668.63M or32.6% of bilateral exports.
Import Dependencies
Imports from Rep. of Korea amount to $0.00, highlighting economic interdependence 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, 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 comprisingInfinity% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates South Africa'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 South Africa 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