Flag Marshall Islands / South Korea Flag

2020
FlagFlag
Exports
: $875k, Rnk 25 / 67

2020
FlagFlag
Top Product
: $487k, Refined Petroleum

2020
FlagFlag
Exports
: $4.84B, Rnk 20 / 218

2020
FlagFlag
Top Product
: $4.82B, Passenger and Cargo Ships

2020
Flag
Economic Complexity (ECI)
: ECI 1.88, Rnk 5 / 127

2020
Flag  
GDP
: $244M, CURRENT US$
Rnk 192 / 195

2010-2020
Flag
GDP GROWTH
: 52.4%, CURRENT US$
Rnk 52 / 195

2020
Flag
 GDP
: $1.64T, CURRENT US$
Rnk 10 / 195

2010-2020
Flag
GDP GROWTH
: 43.2%, CURRENT US$
Rnk 69 / 195

2020
Flag
GDP PC 
: $4,130, CURRENT US$
Rnk 117 / 195

2010-2020
Flag
GDP PC GROWTH
: 45.1%, CURRENT US$
Rnk 33 / 195

2020
Flag
GDP PC
: $31,631, CURRENT US$
Rnk 32 / 195

2010-2020
Flag
GDP PC GROWTH
: 37%, CURRENT US$
Rnk 45 / 195

Marshall Islands-South Korea In 2020, Marshall Islands exported $875k to South Korea. The main products that Marshall Islands exported to South Korea are Refined Petroleum ($487k), Industrial Fatty Acids, Oils and Alcohols ($74k), and Scrap Aluminium ($72.9k). During the last 25 years the exports of Marshall Islands to South Korea have increased at an annualized rate of 24.9%, from $3.39k in 1995 to $875k in 2020.

In 2020, Marshall Islands did not export any services to South Korea.

South Korea-Marshall Islands In 2020, South Korea exported $4.84B to Marshall Islands . The main products that South Korea exported to Marshall Islands were Passenger and Cargo Ships ($4.82B), Refined Petroleum ($5.75M), and Engine Parts ($3.88M). During the last 25 years the exports of South Korea to Marshall Islands have increased at an annualized rate of 38.1%, from $1.51M in 1995 to $4.84B in 2020.

In 2020, South Korea did not export any services to Marshall Islands.

Comparison In 2020,  Marshall Islands ranked 162 in total exports ($747M), and does not have data regarding Economic Complexity Index. That same year, South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B).

Historical Data

#permalink to section

Bilateral Trade by Products

#permalink to section
Depth
Value
Compare to

In 2020, Marshall Islands exported $875k to South Korea. The main products exported from Marshall Islands to South Korea were Refined Petroleum ($487k), Industrial Fatty Acids, Oils and Alcohols ($74k), and Scrap Aluminium ($72.9k). During the last 25 years the exports of Marshall Islands to South Korea have increased at an annualized rate of 24.9%, from $3.39k in 1995 to $875k in 2020.

In 2020, South Korea exported $4.84B to Marshall Islands. The main products exported from South Korea to Marshall Islands were Passenger and Cargo Ships ($4.82B), Refined Petroleum ($5.75M), and Engine Parts ($3.88M). During the last 25 years the exports of South Korea to Marshall Islands have increased at an annualized rate of 38.1%, from $1.51M in 1995 to $4.84B in 2020.

South Korea Exports

#permalink to section

Market Competitiveness

#permalink to section
Measure

Marshall Islands
Top Destination
: Netherlands, $212M

South Korea
Top Destination
: China, $131B

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

In 2019, no countries were registered that imported more from Marshall Islands than from South Korea.

In 2019, countries that imported more from South Korea than Marshall Islands were China ($131B), United States ($75B), and Vietnam ($48B).

Comparative Advantage Marshall Islands - South Korea

#permalink to section
Flow

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

During 2020, Marshall Islands had a large net trade with South Korea in the exports of Mineral Products ($487k), Metals ($108k), and Chemical Products ($74.3k).

During 2020, South Korea had a large net trade with Marshall Islands in the exports of Transportation ($4.83B), Mineral Products ($6.46M), and Machines ($6.37M).

Economic Complexity

#permalink to section

Competitive Landscape

#permalink to section

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 Marshall Islands has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Marshall Islands.