Canada and South Korea
Canada and South Korea connect critical minerals, technology and security. Communities and scientific contacts complement important economic relations.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07History and institutional framework
The 2022 comprehensive strategic partnership and the 2024 plan organise priorities.
What merchandise trade shows
In 2025, goods trade between Canada and South Korea totalled 17,868.6 million current USD.
Documented trade sectors
Within the selected chapters, mineral fuels and oils stands out in shipments from Canada to South Korea, at 1,590.7 million USD in 2025.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 17,868.65 M USD | 2025 · UN Comtrade / CAN |
| Goods: Canada to South Korea | 5,054.6 M USD | 2025 · UN Comtrade / CAN |
| Goods: South Korea to Canada | 12,814.05 M USD | 2025 · UN Comtrade / CAN |
| Services trade | ||
| Export share: Canada to South Korea | 0.91 % | 2025 · UN Comtrade / CAN |
| Export share: South Korea to Canada | ||
| Investment stock: Canada in South Korea | ||
| Investment stock: South Korea in Canada |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade / CAN · Goods; full year; reporter CAN. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Goods: Canada to South Korea
- 2025 · UN Comtrade / CAN · Goods; full year; reporter CAN. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Goods: South Korea to Canada
- 2025 · UN Comtrade / CAN · Goods; full year; reporter CAN. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Export share: Canada to South Korea
- 2025 · UN Comtrade / CAN · Goods share: CAN exports to the partner / exports by the same reporter to the world, same year.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Year-on-year inflation: different periods or frequencies; the two figures are not directly comparable.
| Indicator | Canada | South Korea |
|---|---|---|
| Nominal GDP | 2.32 trillion USD2025 · WB | 1.87 trillion USD2025 · WB |
| GDP per capita | 55,697.66 USD2025 · WB | 36,226.97 USD2025 · WB |
| GDP growth | 1.74 %2025 · WB | 1.01 %2025 · WB |
| Policy interest rate | 2.25 %2026-09-02 · BoC | 3 %2026-08-27 · Bank of Korea |
| Inflation · annual average | 2.07 %Annual average · 2025 · WB | 2.12 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 3 %Year-on-year · Aug. 2026 · StatCan | 2.9 %Headline CPI · 2026-09 · year-on-year · Ministry of Data and Statistics |
| Unemployment | 6.91 %ILO est.2025 · WB | 2.68 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -1.8 %IMF est.2025 · IMF | -1.4 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 113.5 %IMF est.2025 · IMF | 52.3 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -0.95 %2025 · WB | 6.57 %2025 · WB |
| Population | 41,651,6532025 · WB | 51,684,5642025 · WB |
| Area | 9,984,670 km²2012 · StatCan | 100,450 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDCanada: 2025 · World BankSouth Korea: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP per capita
- Current USD per personCanada: 2025 · World BankSouth Korea: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP growth
- Annual real change (%)Canada: 2025 · World BankSouth Korea: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Policy interest rate
- Central bank instrument (%)Canada: 2026-09-02 · Overnight rate target · Bank of CanadaSouth Korea: 2026-08-27 · Base Rate · Bank of Korea · Official central-bank decision; not a commercial lending rate or a bill yield.
- Inflation · annual average
- Average annual change in headline CPI (%)Canada: 2025 · Average annual CPI change (%) · World BankSouth Korea: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedCanada: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · Statistics Canada · Published: 2026-09-14 · National headline year-on-year CPI, not monthly inflation or an annual average.South Korea: 2026-09 · National headline CPI, change from the same month of the previous year · Ministry of Data and Statistics · Published: 2026-10-02 · Official monthly data. Not mixed with the annual average. · Alternative official source; verified 2026-10-07
- Unemployment
- % of the labour force; definition used by the stated institutionCanada: 2025 · World Bank · ILO est.South Korea: 2025 · ILO modelled estimate, % of the labour force · World Bank · ILO est. · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Budget balance
- General government (% of GDP)Canada: 2025 · IMF — World Economic Outlook · IMF est.South Korea: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Gross public debt
- General government (% of GDP)Canada: 2025 · IMF — World Economic Outlook · IMF est.South Korea: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Current account balance
- % of GDPCanada: 2025 · World BankSouth Korea: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Population
- PeopleCanada: 2025 · World BankSouth Korea: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Area
- Total area in km²; territorial coverage of the sourceCanada: 2012 · Total area of Canada, land and water; archived official geographic reference from 2012 · Statistics Canada · Not an annual measurement for 2025. Replaces an API observation that does not match the national reference.South Korea: 2023 · World Bank / FAO · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Canada to South Korea
| Product or sector | Value / share |
|---|---|
| Mineral fuels and oils | 1,590.7 M USD2025 · Source |
| Metal ores | 1,053.7 M USD2025 · Source |
| Meat and edible offal | 391.3 M USD2025 · Source |
| Machinery and mechanical appliances | 129.3 M USD2025 · Source |
| Electrical and electronic equipment | 100.9 M USD2025 · Source |
| Pharmaceutical products | 35.3 M USD2025 · Source |
| Vehicles and components | 8.4 M USD2025 · Source |
| Dairy products, eggs and honey | 7.2 M USD2025 · Source |
South Korea to Canada
| Product or sector | Value / share |
|---|---|
| Vehicles and components | 6,376.4 M USD2025 · Source |
| Machinery and mechanical appliances | 1,502.6 M USD2025 · Source |
| Electrical and electronic equipment | 1,395.1 M USD2025 · Source |
| Pharmaceutical products | 300.4 M USD2025 · Source |
| Mineral fuels and oils | 58.9 M USD2025 · Source |
| Metal ores | 0.1 M USD2025 · Source |
| Dairy products, eggs and honey | 0 M USD2025 · Source |
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | Canada to South Korea | South Korea to Canada |
|---|---|---|---|
| 2021 | 13,343.6 | 5,041.5 | 8,302.1 |
| 2022 | 16,905.2 | 6,651.9 | 10,253.3 |
| 2023 | 15,456.6 | 5,157.6 | 10,299 |
| 2024 | 17,879.5 | 5,568.5 | 12,310.9 |
| 2025 | 17,868.6 | 5,054.6 | 12,814 |
Connections between people
Contacts between people and relations between governments are distinct dimensions. Published counts appear in the table with their date and definition; a resident community is not inferred from trade or diplomatic representation. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Canada living in South Korea | ||
| Residents from South Korea living in Canada | ||
| Study and training: Canada in South Korea | ||
| Study and training: South Korea in Canada | ||
| Academic stays: Canada in South Korea | ||
| Academic stays: South Korea in Canada | ||
| Travel: Canada to South Korea | ||
| Travel: South Korea to Canada |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
History and institutional framework
The 2022 comprehensive strategic partnership and the 2024 plan organise priorities. Supply chain commitments do not imply investment or complete deliveries without observations. [1]
The scale of both economies
Nominal GDP for Canada is 2,319.9 billion USD (2025), compared with 1,872.4 for South Korea (2025). The reference populations are 41.65 and 51.68 million, respectively. In the same year, the economy of Canada was 1.24 times that of South Korea in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [5] [6] [7] [8]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
Areas of the relationship
Communities and scientific contacts complement important economic relations. [1]
What merchandise trade shows
In 2025, merchandise trade between the two countries (Canada and South Korea) totalled 17,868.6 million current USD. Shipments from the first to the second were 5,054.6 million; those in the opposite direction, 12,814 million. The difference between the two flows was 7,759.4 million, in favour of South Korea. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
The partner's share of exports
Sales from Canada to the partner represented 0.91% of its worldwide goods exports in 2025. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [2]
Five years of trade trends
The consistent series shows 13,343.6 million USD in 2021 and 17,868.6 million in 2025. The change between the two endpoints was +33.9 % in current dollars. The highest annual value in the period was recorded in 2024, at 17,879.5 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [3]
Documented trade sectors
Within the selected chapters, mineral fuels and oils stands out in shipments from Canada to South Korea, at 1,590.7 million USD in 2025. Within the selected chapters, vehicles and components stands out in shipments from South Korea to Canada, at 6,376.4 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [4]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — CAN-KOR
Global Affairs Canada · Institutional source · Accessed: 2026-10-07
- Annual TOTAL X/M; 2025; reporter 124; partners 0,643,862,376,364,170,466,704,410,408,608,218,760,616,56,32,332,418,804,404,422,328,152,388,4,710,288,104,380,242,50,300,894,566,400,12,504,270,600,604,308,780,682,662,246,90,44,231,740,188,84,586,222,52,591,854,478,148,686,688,584,398,702,140,320,768,414,360,776,585,340,192,96,496,372,498,706,524,203,508,191,807,204,68,51,705,558,368,275,8,116,24,214,120,818,440,512,454,268,324,352,72,800,417,716,499,48,690,642,626
UN Comtrade / CAN · Institutional source · Accessed: 2026-10-07
- Trade series 2021–2025
UN Comtrade / CAN · Institutional source · Accessed: 2026-10-07
- Selected HS2 chapters; reporter 124; annual 2025; same partner/flow/coverage as total
UN Comtrade / CAN · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- NY.GDP.MKTP.CD; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- SP.POP.TOTL; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade / CAN
2026-10-07 · Accessed: 2026-10-07 · Selected HS2 chapters; reporter 124; annual 2025; same partner/flow/coverage as total.