NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $22.5MRnk 119 / 142
2023
Flag → Flag
Top Product $7.44MLarge Construction Vehicles
2023
Flag → Flag
Exports $636kRnk 43 / 130
2023
Flag → Flag
Top Product $613kChlorates and Perchlorates
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$7.53BCURRENT US$
Rnk 154 / 195
2013-2023
Flag
GDP GROWTH68.6%CURRENT US$
Rnk 42 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$12,221CURRENT US$
Rnk 83 / 196
2013-2023
Flag
GDP PC GROWTH70%CURRENT US$
Rnk 26 / 195

About

South Korea-Montenegro Trade: In 2023, South Korea exported $22.5M to Montenegro. The main products that South Korea exported to Montenegro were Large Construction Vehicles ($7.44M), Air Conditioners ($3.17M), and Cars ($2.87M). Over the past 5 years the exports of South Korea to Montenegro have increased at an annualized rate of 1.65%, from $20.8M in 2018 to $22.5M in 2023.

In 2023, South Korea did not export any services to Montenegro.

Montenegro-South Korea Trade: In 2023, Montenegro exported $636k to South Korea. The main products that Montenegro exported to South Korea were Chlorates and Perchlorates ($613k), Hard Liquor ($13k), and Non-Knit Women's Suits ($2.87k). Over the past 5 years the exports of Montenegro to South Korea have decreased at an annualized rate of 22.5%,  from $2.28M in 2018 to $636k in 2023.

In 2023, Montenegro did not export any services to South Korea.

Comparison In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85),  and 5 in total exports ($645B). That same year, Montenegro ranked 151 in total exports ($1.53B), and does not have data regarding Economic Complexity Index.

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $611k and imported $41k from Montenegro, resulting in a positive trade balance of $570k. Between December 2023 and December 2024 the exports of South Korea have decreased by $-4.92M (-88.9%) from $5.53M to $611k, while imports decreased by $-3.9M (-99%) from $3.94M to $41k.

Trade In December 2024, the top exports of South Korea to Montenegro were Cars, tractors, trucks & parts thereof. ($1.59M), Chemical products n.e.s. ($252k), Perfumery & cosmetics ($18k), Machinery, mechanical appliances, & parts ($8k), and Optical, photo, & film equipment; medical... ($5k). In December 2024 the top imports of South Korea from Montenegro were Ores, slag and ash ($44.8M), Electrical machinery and electronics ($1k), Pharmaceutical products ($0), Perfumery & cosmetics ($0), and Soap, cleaners, candles, dental, modelling pastes ($0).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Montenegro was explained primarily by an decrease in product exports in Electrical machinery and electronics ($-6k or -100%). In December 2024, the decrease in South Korea's year-by-year imports  from Montenegro was explained primarily by an decrease in product imports  in Machinery, mechanical appliances, & parts ($-1k or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-4.92M(-88.9%)
IMPORT GROWTH (December 2023 - December 2024)$-3.9M(-99%)

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 2023, South Korea exported $22.5M to Montenegro. The main products exported from South Korea to Montenegro were Large Construction Vehicles ($7.44M), Air Conditioners ($3.17M), and Cars ($2.87M). During the last 5 years the exports of South Korea to Montenegro have increased at an annualized rate of 1.65%, from $20.8M in 2018 to $22.5M in 2023.

In 2018, Montenegro exported $636k to South Korea. The main products exported from Montenegro to South Korea were Chlorates and Perchlorates ($613k), Hard Liquor ($13k), and Non-Knit Women's Suits ($2.87k). During the last 5 years the exports of Montenegro to South Korea have decreased at an annualized rate of 22.5%, from $2.28M in 2023 to $636k in 2018.

Exports from South Korea (Flag) to Montenegro (Flag) (2023)

Exports from Montenegro (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Montenegro
Top DestinationItaly$576M

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 2023, countries that imported more from South Korea than Montenegro included China ($162B), United States ($118B), and Hong Kong ($28.8B).

In 2023, countries that imported more from Montenegro than South Korea included Bosnia and Herzegovina ($67.5M), Republic of the Congo ($469k), and Iraq ($261k).

Difference in imports from Montenegro (Flag) and South Korea (Flag) (2023)

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 2023, South Korea had a large net trade with Montenegro in the exports of Machines ($15.3M), Transportation ($3.38M), and Plastics and Rubbers ($1.9M).

During 2018, Montenegro had a large net trade with South Korea in the exports of Chemical Products ($613k), Foodstuffs ($13k), and Textiles ($8.8k).

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) (2023)

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms