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2022
Flag → Flag
Exports $36.7MRnk 142 / 220
2022
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Top Product $22.5MRaw Aluminium
2022
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Exports $321MRnk 1 / 123
2022
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Top Product $307MCopper Ore
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$6.1BCURRENT US$
Rnk 151 / 186
2012-2022
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GDP GROWTH49.1%CURRENT US$
Rnk 65 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$9,894CURRENT US$
Rnk 79 / 186
2012-2022
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GDP PC GROWTH50.2%CURRENT US$
Rnk 35 / 186

About

South Korea-Montenegro Trade: In 2022, South Korea exported $36.7M to Montenegro. The main products that South Korea exported to Montenegro were Raw Aluminium ($22.5M), Large Construction Vehicles ($3.79M), and Cars ($2.86M). Over the past 5 years the exports of South Korea to Montenegro have increased at an annualized rate of 30.4%, from $9.73M in 2017 to $36.7M in 2022.

In 2022, South Korea did not export any services to Montenegro.

Montenegro-South Korea Trade: In 2022, Montenegro exported $321M to South Korea. The main products that Montenegro exported to South Korea were Copper Ore ($307M), Lead Ore ($11.1M), and Zinc Ore ($1.99M). Over the past 5 years the exports of Montenegro to South Korea have increased at an annualized rate of 119%,  from $599k in 2017 to $321M in 2022.

In 2022, Montenegro did not export any services to South Korea.

Comparison In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78),  and 5 in total exports ($705B). That same year, Montenegro ranked 154 in total exports ($1.32B), and does not have data regarding Economic Complexity Index.

Latest Trends

September, 2024

About

Overview In September 2024, South Korea exported $726k and imported $11.2M from Montenegro, resulting in a negative trade balance of $10.5M. Between September 2023 and September 2024 the exports of South Korea have decreased by $-753k (-50.9%) from $1.48M to $726k, while imports decreased by $-30.9M (-73.3%) from $42.1M to $11.2M.

Trade In September 2024, the top exports of South Korea to Montenegro were Plastics & articles thereof ($96k), Chemical products n.e.s. ($9k), Electrical machinery and electronics ($6k), Perfumery & cosmetics ($3k), and Furniture, bedding, lamps, & prefab buildings ($1k). In September 2024 the top imports of South Korea from Montenegro were Ores, slag and ash ($18.6M), Machinery, mechanical appliances, & parts ($1k), Perfumery & cosmetics ($0), Chemical products n.e.s. ($0), and Plastics & articles thereof ($0).

Growth In September 2024, the decrease in South Korea's year-by-year exports to Montenegro was explained primarily by an decrease in product exports in Optical, photo, & film equipment; medical... ($-191k or -100%), Perfumery & cosmetics ($-3k or -50%), and Electrical machinery and electronics ($-3k or -33.3%). In September 2024, the decrease in South Korea's year-by-year imports  from Montenegro was explained primarily by an decrease in product imports  in Ores, slag and ash ($-42.4M or -69.5%) and Electrical machinery and electronics ($-50k or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (September 2023 - September 2024)$-753k(-50.9%)
IMPORT GROWTH (September 2023 - September 2024)$-30.9M(-73.3%)

This section shows exports and imports data at subnational level for South Korea. Click any date in the line plot or any product to explore the exports or imports behavior of South Korea over time.

To check Montenegro and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Montenegro and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $36.7M to Montenegro. The main products exported from South Korea to Montenegro were Raw Aluminium ($22.5M), Large Construction Vehicles ($3.79M), and Cars ($2.86M). During the last 5 years the exports of South Korea to Montenegro have increased at an annualized rate of 30.4%, from $9.73M in 2017 to $36.7M in 2022.

In 2017, Montenegro exported $321M to South Korea. The main products exported from Montenegro to South Korea were Copper Ore ($307M), Lead Ore ($11.1M), and Zinc Ore ($1.99M). During the last 5 years the exports of Montenegro to South Korea have increased at an annualized rate of 119%, from $599k in 2022 to $321M in 2017.

Exports from South Korea (Flag) to Montenegro (Flag) (2022)

Exports from Montenegro (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Montenegro
Top DestinationSouth Korea$321M

This map shows whether countries import more from South Korea or Montenegro. Each country is colored based on the difference in imports they receive from South Korea and Montenegro or the difference in the growth in imports.

In 2022, countries that imported more from South Korea than Montenegro included China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2022, countries that imported more from Montenegro than South Korea included Bosnia and Herzegovina ($95.5M) and San Marino ($2.1M).

Difference in imports from Montenegro (Flag) and South Korea (Flag) (2022)

Comparative Advantage South Korea - Montenegro

Flow
Scale

This chart compares trade between South Korea and Montenegro by product, considering products traded by both, South Korea and Montenegro.

During 2022, South Korea had a large net trade with Montenegro in the exports of Metals ($22.6M), Machines ($7.26M), and Transportation ($3.1M).

During 2017, Montenegro had a large net trade with South Korea in the exports of Mineral Products ($320M), Chemical Products ($617k), and Machines ($94.3k).

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and Montenegro. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Montenegro. Similarly, a dot/product with the flag of Montenegro indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and Montenegro (Flag) (2022)

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