Flag Montenegro / South Korea Flag

2021
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Exports
: $47.2M, Rnk 5 / 122

2021
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Top Product
: $29.5M, Copper Ore

2021
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Exports
: $13.9M, Rnk 160 / 218

2021
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Top Product
: $3.76M, Large Construction Vehicles

2021
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Economic Complexity (ECI)
: ECI 1.82, Rnk 4 / 131

2021
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GDP
: $5.81B, CURRENT US$
Rnk 148 / 182

2011-2021
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GDP GROWTH
: 27.8%, CURRENT US$
Rnk 92 / 182

2021
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 GDP
: $1.8T, CURRENT US$
Rnk 10 / 182

2011-2021
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GDP GROWTH
: 43.5%, CURRENT US$
Rnk 64 / 182

2021
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GDP PC 
: $9,367, CURRENT US$
Rnk 71 / 182

2011-2021
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GDP PC GROWTH
: 27.8%, CURRENT US$
Rnk 60 / 182

2021
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GDP PC
: $34,758, CURRENT US$
Rnk 28 / 182

2011-2021
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GDP PC GROWTH
: 38.5%, CURRENT US$
Rnk 43 / 182

Montenegro-South Korea In 2021, Montenegro exported $47.2M to South Korea. The main products that Montenegro exported to South Korea are Copper Ore ($29.5M), Lead Ore ($17.4M), and Chlorates and Perchlorates ($240k). During the last 15 years the exports of Montenegro to South Korea have increased at an annualized rate of 66.4%, from $22.7k in 2006 to $47.2M in 2021.

In 2021, Montenegro did not export any services to South Korea.

South Korea-Montenegro In 2021, South Korea exported $13.9M to Montenegro. The main products that South Korea exported to Montenegro were Large Construction Vehicles ($3.76M), Video Displays ($1.75M), and Cars ($1.46M). During the last 15 years the exports of South Korea to Montenegro have increased at an annualized rate of 1.07%, from $11.8M in 2006 to $13.9M in 2021.

In 2021, South Korea did not export any services to Montenegro.

Comparison In 2021,  Montenegro ranked 165 in total exports ($828M), and does not have data regarding Economic Complexity Index. That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.82), and 5 in total exports ($653B).

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2021, Montenegro exported $47.2M to South Korea. The main products exported from Montenegro to South Korea were Copper Ore ($29.5M), Lead Ore ($17.4M), and Chlorates and Perchlorates ($240k). During the last 15 years the exports of Montenegro to South Korea have increased at an annualized rate of 66.4%, from $22.7k in 2006 to $47.2M in 2021.

In 2021, South Korea exported $13.9M to Montenegro. The main products exported from South Korea to Montenegro were Large Construction Vehicles ($3.76M), Video Displays ($1.75M), and Cars ($1.46M). During the last 15 years the exports of South Korea to Montenegro have increased at an annualized rate of 1.07%, from $11.8M in 2006 to $13.9M in 2021.

Montenegro Exports

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South Korea Exports

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Market Competitiveness

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Color

Montenegro
Top Destination
: Serbia, $130M

South Korea
Top Destination
: China, $158B

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

In 2021, countries that imported more from Montenegro than South Korea were San Marino ($431k) and Norfolk Island ($950).

In 2021, countries that imported more from South Korea than Montenegro were China ($158B), United States ($95.9B), and Vietnam ($56.5B).

Comparative Advantage Montenegro - South Korea

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Flow
Scale

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

During 2021, Montenegro had a large net trade with South Korea in the exports of Mineral Products ($46.9M), Chemical Products ($240k), and Stone And Glass ($79.1k).

During 2021, South Korea had a large net trade with Montenegro in the exports of Machines ($7.36M), Transportation ($2.16M), and Plastics and Rubbers ($1.79M).

Economic Complexity

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Competitive Landscape

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