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Pricing

2022
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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 1.71Rnk 4 / 124
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 In 2022, South Korea exported $36.7M to Montenegro. The main products that South Korea exported to Montenegro are Raw Aluminium ($22.5M), Large Construction Vehicles ($3.79M), and Cars ($2.86M). During the last 16 years the exports of South Korea to Montenegro have increased at an annualized rate of 7.31%, from $11.8M in 2006 to $36.7M in 2022.

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

Montenegro-South Korea 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). During the last 16 years the exports of Montenegro to South Korea have increased at an annualized rate of 81.7%, from $22.7k in 2006 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 1.71),  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

February, 2024

About

Overview In February 2024, South Korea exported $1.2M and imported $17.2M from Montenegro, resulting in a negative trade balance of $16M. Between February 2023 and February 2024 the exports of South Korea have increased by $983k (449%) from $219k to $1.2M, while imports decreased by $-3.96M (-18.7%) from $21.2M to $17.2M.

Trade In February 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 February 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 February 2024, the increase in South Korea's year-by-year exports to Montenegro was explained primarily by an increase in product exports in Plastics & articles thereof ($77k or 405%) and Chemical products n.e.s. ($2k or 28.6%). In February 2024, the decrease in South Korea's year-by-year imports  from Montenegro was explained primarily by an decrease in product imports  in Ores, slag and ash ($-42.4M or -69.5%) and Electrical machinery and electronics ($-50k or -100%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (February 2023 - February 2024)$983k(449%)
IMPORT GROWTH (February 2023 - February 2024)$-3.96M(-18.7%)

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.

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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 16 years the exports of South Korea to Montenegro have increased at an annualized rate of 7.31%, from $11.8M in 2006 to $36.7M in 2022.

In 2022, 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 16 years the exports of Montenegro to South Korea have increased at an annualized rate of 81.7%, from $22.7k in 2006 to $321M in 2022.

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 2021, countries that imported more from South Korea than Montenegro were China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2021, countries that imported more from Montenegro than South Korea were 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 2022, 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 show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more South Korea has comparative advantage over Montenegro. Similarly, the more yellow a dot/product is, the more Montenegro has comparative advantage over South Korea.

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

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