Korean-African trade techs up

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Korean trade with Africa has more than quadrupled since the late 1990s.

With imports and exports totalling US$26.5 in 2014, Korea is one of the fastest emerging trade partners of the continent over the last decade. By contrast with other “newcomers” like China, India or Brazil, exports to the continent tend to dominate. Until 2011, Korea’s exports to Africa have increased more than 2.5 times faster than its imports from the continent. Three-quarters of the Korean exports are composed of electronic and electro-appliances equipment, phones and transport equipment, compared with less than half of exports in the case of China, for instance. Korea has thus become an important source of equipment and technology, both for African consumers and companies.

Bakary Traoré, OECD Development Centre

©OECD Observer September 2016

Economic data

GDP growth: -9.8% Q2/Q1 2020 2020
Consumer price inflation: 1.3% Sep 2020 annual
Trade (G20): -17.7% exp, -16.7% imp, Q2/Q1 2020
Unemployment: 7.3% Sep 2020
Last update: 10 Nov 2020

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