2023
Flag  
GDP
$23.5BCURRENT US$
Rnk 115 / 195
2013-2023
Flag
GDP GROWTH
84.3%CURRENT US$
Rnk 29 / 195
2023
Flag
 GDP
$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH
25%CURRENT US$
Rnk 127 / 195
2023
Flag
GDP PC 
$8,575CURRENT US$
Rnk 93 / 195
2013-2023
Flag
GDP PC GROWTH
94.3%CURRENT US$
Rnk 10 / 195
2023
Flag
GDP PC
$33,121CURRENT US$
Rnk 41 / 196
2013-2023
Flag
GDP PC GROWTH
21.9%CURRENT US$
Rnk 99 / 195

About

Albania-South Korea Trade: In 2023, Albania exported $596k to South Korea. The main products that Albania exported to South Korea were Glands and Other Organs ($596k). Over the past 5 years the exports of Albania to South Korea have decreased at an annualized rate of 27.6%, from $3.01M in 2018 to $596k in 2023.

In 2017, Albania exported services to South Korea worth $1.92M, with Travel ($1.92M) being the largest in terms of value.

South Korea-Albania Trade: In 2023, South Korea exported $125M to Albania. The main products that South Korea exported to Albania were Cars ($83.6M), Electrical Power Accessories ($7.03M), and Orthopedic Appliances ($5.98M). Over the past 5 years the exports of South Korea to Albania have increased at an annualized rate of 45.2%,  from $19.5M in 2018 to $125M in 2023.

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

Comparison: In 2023,  Albania ranked 77 in the Economic Complexity Index (ECI -0.33), and 134 in total exports ($4.25B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Albania exported $596k to South Korea. The main products exported from Albania to South Korea were Glands and Other Organs ($596k). During the last 5 years the exports of Albania to South Korea have decreased at an annualized rate of 27.6%, from $3.01M in 2018 to $596k in 2023.

In 2018, South Korea exported $125M to Albania. The main products exported from South Korea to Albania were Cars ($83.6M), Electrical Power Accessories ($7.03M), and Orthopedic Appliances ($5.98M). During the last 5 years the exports of South Korea to Albania have increased at an annualized rate of 45.2%, from $19.5M in 2023 to $125M in 2018.

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

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

Latest Data

Trade between Albania (Flag) and South Korea (Flag)

Albania Exports

South Korea Exports

Market Competitiveness

Color
Albania
Top Destination
Italy$1.72B
South Korea
Top Destination
China$162B

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

In 2023, countries that imported more from Albania than South Korea included North Macedonia ($134M), Montenegro ($82.3M), and Belarus ($669k).

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

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

Comparative Advantage Albania - South Korea

Flow
Scale

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

During 2023, Albania had a large net trade with South Korea in the exports of Chemical Products ($596k).

During 2018, South Korea had a large net trade with Albania in the exports of Transportation ($84.2M), Machines ($17.9M), and Instruments ($7.47M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Albania South Korea+$2.65MLeather Footwear
Top Product Potential South Korea Albania+$8.7MCars

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

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

Product Space of Albania (Flag) and South Korea (Flag) (2023)

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