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Further information on page 4
Library statistical spotlightLibrary of the European Parliament 09/10/2012
Author: Giulio Sabbati Contact: [email protected] Tel: 31305 LSS-0082012 Page 1 of 4
EU-South Korea: analysis of trade
Rest of the world
Japan
EU27
USA
China
Export of South Korea in percentage of total export
Rest of the world
1. South Korean trade in goods (2011) Data source: IMF
Imports
Exports
South Korean exports represent 4% of world exports
South Korean imports amount to 3.6% of world imports
24%
10%
10%7%
€ 404billion
China
USA
EU27
Japan
0 20 40 60 80 100
Japan
EU27
USA
China
Export of South Korea in billon euros
€ 40 billion
€ 41 billion
€ 29 billion
€ 96 billion
Rest of the world
USA
EU27
Japan
China
Import of nine selected countries in percenatage of total export
Rest of the world
16%
13%
9%
9%
€ 377billion
China
Japan
EU27
USA
0.0 12.5 25.0 37.5 50.0 62.5 75.0 87.5 100.0
USA
EU27
Japan
China
Import of South Korea in Billion euros
€ 62 billion
€ 49 billion
€ 34 billion
€ 32 billion
South Korea versus “major countries” realtive (import) increase
0
1000
2000
3000
4000 EU27
USA
South Korea
Japan
China
2011200520001995199019851980
China
SouthKorea
JapanEU27
USAIndex: 1980 = 100
South Korea versus “major countries” realtive (export) increase
0
1000
2000
3000
4000 EU27
USA
South Korea
Japan
China
2011200520001995199019851980
China
SouthKorea
USA
EU27JapanIndex: 1980 = 100
30 years of import growth
30 years of export growthDestination
Source
South Korea
0 Km 200 Km100
ChinaRussia
North Korea
JapanSouth Korea
The EU-South Korea Free Trade Agreement (FTA) has been in force since 1 July 2011. One year on, it is timely to look at trade between the EU – the world’s largest economy in terms of GDP – and South Korea – the world’s 13th largest economy.This spotlight shows trade in goods between the EU and South Korea. It also looks at trade in services, which is much smaller. Finally, the data are tied into real enterprises, in terms of the largest Korean and EU compa-nies.
2011 EU27 S. KoreaPopulation (million) 504 50
GDP (in $ billion) 17 552 1 116Unemployment (2010) 9.6% 3.7%GDP Growth (%) 1.5% 3.6%
Data source: World Bank
Further information on page 4
Library statistical spotlight EU-South Korea: analysis of trade
Author: Giulio Sabbati Contact: [email protected] Tel: 31305 LSS-0082012 Page 2 of 4
2. EU trade in goods with South Korea
EU27
Data source: Eurostat
EU exports to South Korea (July 2011 to June 2012): € 35.3 billion, representing 2.2% of total EU exports
EU imports from South Korea (July 2011 to June 2012): € 37.7 billion, representing 2.2% of total EU imports
July 2011 - June 2012
EU Export to South Korea
Other products
SITC 3
SITC 5
SITC 8
SITC 6
SITC 7
€ 37.7billion
63%12%
10%6%
6%July 2011 - June 2012
Top 5 product groups(July 2011 - June 2012)
2012€ billion
Share of EU product sector
% change
2008 2011
Industrial machinery 3.6 3% + 24% + 13%Particular industry machinery 3.5 4% + 51% + 7%Road vehicles 3.0 2% + 63% + 0.4%
Electrical machinery 2.1 2% + 2.4% + 1.5%
Petroleum oils 1.8 43% No data
Top 5 product groups(July 2011 - June 2012)
2012€ billion
Share of EU product sector
% change
2008 2011
Road vehicles 5.9 11% - 5% + 43%Ships and boats 4.6 35% + 36% - 20%
Electrical machinery 4.5 5% + 13% - 27%
Telecommunications products 3.9 5% - 66% - 36%
Scientific instruments 2.3 7% + 137% - 26%
EU Export to South Korea
Other products
SITC 3
SITC 6
SITC 8
SITC 5
SITC 7
€ 35.3billion 47%
16%
10%
10%
6%10%
0
5
10
15
20
25
30
35
40
SOUTH KOREA
Jul 2011 - Jun 2012Jul 2010 - Jun 2011Jul 2009 - Jun 2010Jul 2008 - Jun 2009Jul 2007 - Jun 2008
Export of South Korea in billon euros
20122011201020092008
35.3
30.6
24.6
2226.1
€ billion
0
5
10
15
20
25
30
35
40
South Korea
Jul 2011 - Jun 2012Jul 2010 - Jun 2011Jul 2009 - Jun 2010Jul 2008 - Jun 2009Jul 2007 - Jun 2008
EU import from South Korea and other major economy
37.738
35.3
36.240
20122011201020092008
€ billion
Exports
Imports
201220102008
South Korea versus “major countries” realtive (import) increase
60
80
100
120Export
Import
Jul 2011 - Jun 2012Jul 2010 - Jun 2011Jul 2009 - Jun 2010Jul 2008 - Jun 2009Jul 2007 - Jun 2008
Index July 2011 = 100
100
70
120 115
99
Manufactured articlesManufactured goodsMineral fuelsOther products
ChemicalsTransport equipment
Manufactured articlesChemicalsMineral fuelsOther products
Manufactured goodsTransport equipment
Further information on page 4
Library statistical spotlight EU-South Korea: analysis of trade
Author: Giulio Sabbati Contact: [email protected] Tel: 31305 LSS-0082012 Page 3 of 4
4. Largest companies by revenue (2012) Data source: CNN
World rank(out of 500)
Company
Carrefour
Siemens
Tesco
BASF
BMW
Hyundai Motor
POSCO
Daimler
LG Electronics
Revenue (US$ billion)
122
113
104
102
96
70
62
148
49
21
39
47
59
62
69
117
146
196
20
12
203
264
266
Samsung
Volkswagen
Hyundai Heavy Ind.
Korea Electric Power
Kia Motors
Country
France
Germany
Britain
Germany
Germany
South Korea
South Korea
Germany
South Korea
South Korea
Germany
South Korea
South Korea
South Korea
149
222
48
39
39
3. EU27 trade in services with South Korea Data source: Eurostat
EU27 exports to South Korea (2010): € 7.6 billion in total, 1.4% of total EU exports
€ bi
llion
0
3
6
9
2010200920082007200620052004
Import of services of South Korea in billon euros
0.8
1.0
1.2
1.4%
1.2%
1.0%
0.8%
9
6
3
0
In billion euros (left axis)
Share of total EU imports (right axis, %)
3.3 3.
9 4.3
4.4
5
3.8 4.
5
1%
EU27 imports from South Korea: € 4.5 billion in total, 1% of total EU imports
0
3
6
9
2010200920082007200620052004
Export of services of South Korea in billon euros
1.0
1.5
2.0
2.5%
2.0%
1.5%
1.0%
9
6
3
0
In billion euros (left axis)
Share of total EU exports (right axis, %)
€ bi
llion
5.6
6
7 7.5 8.
1
6.2
7.6
1.4% Royalties and licence fees: € 1 billionTravel: € 0.5 billionFinancial: € 0.3 billionOther services: € 0.6 billion
Other businesses: € 2.1 billionTransportation: € 3.1 billion
Other
Financial
Travel
Royalties and license fees
Other businesses
Transportation
EU export of servicres to South korea
€ 7.6billion 41%
27%
13%
7%4%
8%
Other
Construction
Royalties and license fees
Financial
Other businesses
Transportation
EU import of servicres to South korea
€ 4.5billion
49%
25%
7%
7%5%8%
Financial: € 0.3 billionRoyalties and licence fees: € 0.3 billionConstruction: € 0.2 billionOther services: € 0.3 billion
Other businesses: € 1.1 billionTransportation: € 2.2 billion
Library statistical spotlight EU-South Korea: analysis of trade
Author: Giulio Sabbati Contact: [email protected] Tel: 31305 Page 4 of 4
Extraction date: data has been extracted in October 2012. This document provides a general statistical overview: Members requiring more detailed statistical information or a more in-depth analysis are welcome to contact the Library.Disclaimer and Copyright: This document is a summary of published information and does not necessarily represent the views of the author or the European Parliament. The document is exclusively addressed to the Members and staff of the European Parliament for their parliamentary work. Links to information sources within this document may be inaccessible from locations outside the European Parliament network. Copyright © European Parliament, 2012. All rights reserved. http://www.library.ep.ec; http://www.facebook.com/LibraryOfTheEuropeanParliamentImage: Image Cyril Hou, 2012. Used under licence from Shutterstock.com
Further information
The graphic represents the exports/imports of the EU27 to/from South Korea, broken down by SITC (Standard International Trade Classification)product group. “Transport equipment” refers to code 7, “chemical” is code 5, “manufactured articles” is code 8, “manufactured goods” is code 6, “min-eral fuels” is code 3 and “other products” refers to code 0, 1, 2, 4 and 9. The bar chart shows the evolution of exports/imports over the years. The periods taken into consideration are from July to June; for instance, 2008 means July 2007 to June 2008 while 2012 means from July 2011 to June 2012. The pie chart shows the division of total exports/imports for the pe-riod July 2011 to June 2012 broken down by SITC code. The last table gives the top five product groups.The share has been calculated based on extra-EU trade, i.e. excluding trade between Member States, and taking account only of trade between the EU, as a whole, and the rest of the world.
The graphics show the trade in goods of South Korea with the world, and in particular with China, USA, EU27 and Japan. The green part refers to ex-ports, and the red to imports. Data are presented in euros after conversion from dollars using the annual average conversion rate from Eurostat. The pie chart shows the share that China, USA, EU27 and Japan represents for South Korea in terms of exports/imports of goods, while the bar chart rep-resents the value in billion euros. For example, South Korea exports mer-chandise to the world worth €404 billion. The share that goes to the EU represents 10% of South Korean total exports, with a value of €40 billion.The line chart shows the growth in exports/imports over the past 30 years, indexed to the year 1980 (=100).
2. EU trade in goods with South Korea
1. South Korean trade in goods (2011)
The graphics represent EU exports (in green) and imports (in red) of serv-ices to/from South Korea (total value and by type of service). The bar chart shows the evolution of exports/imports to/from South Korea in billion eu-ros and as a share of the EU’s exports/imports of services.In practice, the EU’s total exports of services amounted to €7.6 billion in 2010 (the most recent year available) and represented 1.4% of total EU exports. “Transportation services” represented about €3.1 billion or 41% of all EU exports to South Korea. The share has been calculated based on extra-EU trade.
4. Largest companies by revenue (2012)The graphic shows the largest public companies in Europe and South Ko-rea in terms of revenue; the list does not include oil industry or services companies, which are considered to reflect less well the main companies likely to enter into trading contracts between the EU and South Korea. It is part of the Fortune Global 500 ranking of the world’s largest corporations.
3. EU27 trade in services with South Korea
To better understand the graph, total EU exports to South Korea amount-ed to €35.3 billion in the period July 2011 to June 2012. In terms of product groups, the EU exported €3.6 billion of industrial machinery, which repre-sents 3% of all EU exports of this product category to the world. This value represents an increase of 13% compared to the same period in the previ-ous year.The graph in the middle shows growth in exports and imports in the pe-riod July 2010 - June 2011. For instance, exports increased 15% in the year July 2011 - June 2012.NB Variations between figure 1 and 2 are due to the data coming from dif-ferent sources, covering different periods and currency conversion.